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What level of financial freedom suits you?

  • Bob
  • Aug 9, 2024
  • 3 min read

Updated: Oct 23

Financial Freedom










What does financial freedom mean to you? It can have a different meaning to each person and can change over time as well. For some, it can mean not having to mentally stress when the monthly rent or mortgage becomes due. It can mean not having to look at the price of an item when going to the grocery store. It could mean not having any debt. It could possibly mean having many millions of dollars in a retirement account for others. So, what does it mean to you? How much financial freedom are you looking for and why?

Is it possible that human beings want more simply for the sake of wanting more? That no matter what amount has been attained, people would continue to want to ask for more. That is very possible and may apply to a great deal of the population. If we were to dig a little deeper, there may be reasons for it based on certain individual's past experiences and of potential negative experiences with insecurity. It may also have a lot to do with what each person's preferences of what they wish for in life. Some might wish for a very large home with six or more bedrooms and others may be perfectly happy with having a studio or a two-bedroom home. For some, the desire to drive luxury vehicles may be very strong while others have little interest in anything beyond what they need. Asking yourself the question of why you might want what you want can uncover some truths about yourself that you may not be aware of. Is it possible these nice things that you want, you may not really want? It could be that everyone else appears to have certain things in your family or in your neighborhood, so you felt compelled to as well. Perhaps, in your earlier years, you were told that obtaining certain material things would be the only way to success. And so, wishing to be a successful person as an adult, you may be going through life collecting these things bound by potentially incorrect impressions created upon you decades ago.

It is entirely legitimate and possible that you are a person that appreciates nice things, that you've always dreamed of having a luxury vehicle, and it sings to your soul to drive such a vehicle on a daily basis. There is nothing wrong with that and we may want what we want. In general, there is usually a cost associated with what we want to have in life. This cost may have a direct impact on your freedom as well. The larger house and the nicer things in life can possibly come with the cost of freedom as they may require more from you. It could come in the form of harder work, longer work hours, possibly more stress, time away from your family & friends, time further away from your retirement. The less demanding you may be of yourself, in terms of material wealth, the quicker you may be able to reach a level of financial freedom that suits you.

Imagine what that's like to reach that definition of financial freedom that you have for yourself. The thought of it must take a huge weight off of your shoulders and relieve some stress. The added freedom may allow you to focus on other things. It would give you added freedom of choice. You may recover a significant amount of time or mental energy back and be allowed to focus on things that might be more important to you. It may give you greater clarity. What would you do with the extra time or the extra resources? How would you utilize them? Would you use parts of it to work on your passion projects, donate to a non-profit, buy a nice gift for your children or loved one, invest it in hopes of attaining greater financial freedom? It'll be your choice as you select the level of financial freedom that suits you while being more aware of how your decisions can have an impact on your goals and well-being.



**sidebar thought: what if you reached all of the financial security levels you ever strived for but chose to live a minimalistic lifestyle that has a minimal carbon footprint impact? Could that be a way of life for you?



 
 
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