Why not!? Why wouldn’t you want to have freedom to do what you like. Children have this freedom when they are young if they live in a good home with all their needs taken care of. Many people dream of winning the big lotteries and spend hundreds to thousands of dollars on lottery tickets. And some hope for an inheritance to do the things they always dreamed of doing. I say there is a better way. Build your own freedom and save a portion of your paycheck to grow your own freedom. If you win the lottery or get an inheritance chances are you will be better able to handle a big financial windfall if you are already in the process of growing your own financial independence.
Now financial independence is only for the very determined individual and if you are still reading this blog, you are probably one of those individuals. Congratulations! You are taking an important step to reaching financial independence.
Through my networking for my financial practice I have come across many people who after discovering I work with Freedom 55 Financial say to me “well that will never work for me, I am too old to achieve freedom at age 55 or I will never reach that kind of freedom”. It used to make me sad to hear this and at the beginning of my career I had a real challenge giving them a good response. I now know that freedom at age 55 is not only possible but freedom at an earlier age is also within reach. Working with a good financial mentor (one licensed in insurance and investments) can help you get there.
Lately I have been very excited to show several young people how they can achieve financial independence. I show them projections for investing some of there earnings into a good mutual or segregated fund that will earn them at least 3% per year as opposed to putting their hard-earned money in a daily interest savings account earning perhaps 1%. They are amazed at the growth potential of investing in the mutual or segregated fund.
Then we determine what they need to live on and calculate how much money they would have to accumulate to create an income stream that would provide for their lifestyle, so they would be independent of a having to work at a job. It usually is quite an eye opener and for me a lot of fun to show them how little they really need to accumulate to be financially free.
So why should you try to become financially free? Well the answer is within you. Maybe you would prefer to be an artist or travel the world taking pictures. Or perhaps you would like to have the freedom to help others and not worry about receiving a pay check for your charity work. This is something you would have to discover yourself.