Financial freedom means different things to different people.
Most people want to become financially independent to pursue their lifelong interests. Whatever those interests are – traveling, writing, cooking, woodworking, birdwatching, skydiving, underwater diving, teaching calligraphy, composing music, and so on. Others want to turn their hobbies into a business – big or small – in order to live freely.
Everybody desires something they want to pursue with all seriousness.
But to get there, you have to rid yourself of that millstone around your neck – the company ID you wear to work every day.
And, this is where most people screech to halt.
The mere thought of having to do without monthly salary forces you into hard contemplation. Finally, you conscious brain convinces you to not do anything stupid and rather stay the course.
Trust me when I say this:
“Contemplation alone kills more dreams than fear and failure combined ever do.“
I understand that to give up on the comfort of monthly salary is not easy. This is also the reason why, there are so few entrepreneurs and so many employees in this world.
You must be wondering, can I not hit the milestone of financial freedom without having to give up on my job?
Yes, you can.
But look around you. What does the evidence suggest?
How many people in your knowledge created wealth while they were working? How many of them sauntered to the workplace every day with a reassuring calm and bliss as if they had a romantic date with Kylie Jenner? J
Not many, right?
Look I am not saying that you can’t create a corpus while you are on job. You very well can. However, that corpus, 9 out of 10 times, won’t be enought to inject in you the confidence to quit your job.
What’s the big deal about financial freedom?
Nothing, to many people. If the thought of financial freedom or living without a boss has never crossed your mind, then you have nothing to lose. You would stay happy in your day job.
For others like you who eat, drink and sleep financial freedom and early retirement, this is a terrifying scenario.
What’s terrifying? It’s the scenario where you are 65, pacing up and down your living room and thinking – I should have given it a shot while I was young.
Financial Freedom sounds cool, but achieving it is a daunting task.
I am 40 right now. Yes, I am starting late, but you don’t have to. I have set myself a goal to retire from my job in the next 5 years or before.
I know it’s not going to be easy. I know it would require me to make many sacrificies, especially, on the discretionary spending front.
I also know that I might have also to annoy my wife and daughter at times. But this is the price one must pay. So much so that when the time comes, I don’t think twice to quit.
A rude awakening in my life has turned my attention to a new goal in my life. I will post about it soon.
I only wish this enlightenment should have happened a little early. Nonetheless, better now than never.
I want to achieve the coveted Financial Freedom. 5 years from now, I want to retire.
Let me reiterate, it’s not that I want to stop working.
- I want to work on my own terms.
- I want the free time whenever I wish, not at somebody else’s behest.
- I want the freedom to travel at any time of the year and not wait for the summers to arrive.
- It’s been my dream to check out the most beautiful libraries across the world. And, if I have to write them about, too, I’d better start now.
- I want freedom to pick up a book and read like there is nothing else to do. You know, reading while lying on my couch on a lazy afternoon.
- I want to hit the gym twice a day – something that is not possible with when you are a systemic slave.
- I want freedom from staying late in the office, putting out fires that drain your energy.
- I want to hit the bed early and get rid of those vicious mails that creep into your mailbox at 11 PM and say – this can’t wait until tomorrow. Really?
I want freedom from all that.
I want to spend time with my family and friends.
That means, flying out to see them whenever I want and not having to ask for a 3 day leave from my boss and getting that raised scowl and wry smile in return.
Additional Notes and Thoughts
Monthly salary is the worst of addictions. It’s worse than saccharine. But I will address this topic in a separate post.
You are systemic slaves, just that you don’t realise it. And when you do, it will be late.
A research by Ashley Whillans of Harvard Business School shows that money can buy happiness—if it is used to buy more free time. (It isn’t the fancy lawn mower that makes you happy—it’s paying someone else to use it.)
To be rich isn’t a goal. To retire from the 9 to 6 in 5 years with $275K (₹ 2 Crore) in bank account is.
Always remember, money chases performance. That is why most of the money never makes further money. Only the money which chases opportunities ends up making further money.
Nothing wrong with 9-5 job as long as you use it as a stepping stone.