What a financial freedom program could do for you
A financial freedom program could offer you several benefits such as:
- No need to work to pay for basic needs and comforts
- Time with your family
- Time to do what you like best
- Time to make more money
- Etc., etc.
It’s not in vain that they say that time is golden, and it is something you’re not likely to obtain through earned income.
For example, when I was working for an auditing firm, I was subject to a work schedule in which my starting time was fixed but not my quitting time, the worst part was that the higher I rose in the firm, the greater was my work load and my personal time became less and less.
Also various friends and acquaintances who are self-employed have complained that they have no free time because of deadlines or too many clients to deal with. Ironically, it seems that the more successful they become, the less free time they have.
So, what is financial freedom?
This is what you have when your passive income is sufficient to cover your basic needs and comforts. How do you do it? By learning to acquire or build the assets which produce this income.
The road is not easy and not necessarily quick and even less so when you have debts and bills to pay. Besides, there’s a lot to learn and that's why a plan financial freedom plan is important if you chose this route.
Your short and long range objectives
From all you’ve just read, you can realize that the choice between security and financial freedom is not mutually exclusive but more a matter of time.
For example, my wife and I have clearly established that we want free time to spend with our family and for this we have chosen the path to financial freedom. However, we realize that we need to improve our finances in several areas, especially since we lack any source of passive income. For this reason, our short term goal is for financial security and our long range objective is for financial freedom.
To sum up, in our experience a financial freedom program needs to include a guarantee for your financial security, but this will not happen overnight but must be built day by day and learning bit by bit to convert earned income into assets which produce passive income. Your choice of one route or another will depend on:
- Your present situation
- How well you manage your personal funds
- How you are earning your main income, etc.
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