What does financial freedom mean to you?
The google definition is having enough financial resources to cover your living expenses and to afford your life goals. But to me, financial freedom is a bit more than that.
For me it means having the money to do what you want when you want and with whom you want. But that’s very short term – the here and now goal.
It’s about having more income than you have expenses!
It means not having to worry about money.
It means that even if unexpected events or costs occur you don’t need to worry about them! You’ve got them covered.
It’s about being free to make decisions without worrying about how you pay for them.
Not now, and not in the future.
Not for you, and not for your kids.
It means having a strategy to pay off your mortgage so you own your house.
It’s investing in a pension so you can retire comfortably.
And having insurance or contingency funds just in case you wanted to take time of work – or you had to take time off work.
You’re working because you want to, not because you have to.
And being paid for what you love to do.
It’s about never having to ask permission, but staying accountable for the choices you make.
You’re building profit systems that generate profit 24/7 on autopilot.
You have teams and people that are as invested in your business as you are and who will run it in your absence.
It’s about building a business that will run without you, effectively making you redundant.
It’s about building assets that generate profit.
It’s about building a business that you can sell, eventually. And it’s not reliant on you to deliver you product or service. It’s an asset that eventually you can convert to cash.
Tell me what financial freedom means for you.
If you want to learn more about building your own financial freedom.