Looking for Financial Freedom?

home3.jpgThere are many blogs and websites about “Financial Freedom”. I’ve come to notice that each site author has a slightly different definition of what Financial Freedom really is. So, my goal here is to just lay out in plain sight what my own idea for Financial Freedom is, so I might have a better chance of getting there myself. My idea of Financial Freedom is the ability to choose to do what you wish with your life, without the need to think about if there is enough money to do what you want. In order to break down what this really means, you’ve got to really understand what money itself is.

Money is basically what makes the world go round.

If you had enough income piling into your bank account to meet your basic necessities, such as food, a place to live and clothes, how would life be different?

Now, you may be saying “but I do have enough money to provide for the necessities.” And you may be correct. But, the real question I want to ask is, “How do you get that money?” Is the income you earn each month Linear (i.e., from working in a job or a self-employed business type setting), or is it non-linear, leveraged, and passive?

My entire goal is to create a lifestyle that does not require my presence.

How beautiful an idea is that?

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I however, embrace what I call the “Lazy” approach to Financial Freedom. Note that by “Lazy”, I do not mean the same thing as sloth. Financial Freedom to me means, to take whatever creative ideas you have, find out how to turn it into an income-producing business, and building that business up to a point of profitability.

By automating your business processes as much as is possible, you have now created a recurring stream of income that will flow, whether or not you wake up by 6am, or even by noon! The problem that I see from the employment method is that you have to be at work everyday to keep the income flowing long enough to create investments and such that will eventually create the recurring income streams.

And lastly, financial freedom is a lot about one’s personal choice. It is about how much you can control yourself into accepting things. Learn to make your own choices and don’t be bogged down by situational pressures. The day you would be able to do that, you would have achieved complete financial freedom.

So, what different things can you do to create automatically recurring streams of income? The key is to create the systems such that they do not require constant meddling on your part.

I would love to hear your views on Financial Freedom, so its your turn to talk…

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11 Responses

  1. For me financial freedom means that I can work at my own time, including the option not to work one day if I decide so. Not working at all is a kinda boring life to me. If you do the work you love it’s fun to do it and you’re looking forward to it every morning.

  2. Robin Bal says:

    Hi Ivan,

    Thanks for your comment mate. I agree with you, not working at all is kinda boring. Love your work and look forward to it each morning sounds cool.

    Take care and cheers

  3. Dana Wallert says:

    Really great topic Robin! I think financial freedom is being able to enjoy what you do, build it to be successful enough to be able to take time off and love it enough that you don’t want to take that time off too often :smile: Stumbling this one!

  4. Robin Bal says:

    Thanks Dana, I liked the way you expressed yourself, “enjoy what you do, build it to be successful enough to be able to take time off and love it enough that you don’t want to take that time off too often.” :smile:

    Take care and cheers

  5. iio says:

    I am trying to reach this goal of financial freedom, and have now reached the point where I have enough money to last me the rest of my life, unless I buy something.

    Actually, I think Jackie Mason said that once. Nice post.

  6. My 2 cents worth of definitions: Financial freedom means income flow is stronger and faster than expenses. A successful business is one that makes profit even without the boss running it.

  7. Robin Bal says:

    Good one iio, reminds of of another one. “I have enough money if I die at 4pm this afternoon”, cant remember who said that.:wink:

    Take care and cheers

  8. Robin Bal says:

    Hi Viv,

    How beautiful would that be, “Financial freedom means income flow is stronger and faster than expenses.”

    Take care and cheers

  9. Javier Goya says:

    More time with the family, friends, and of course with yourself. Now with the Internet I think we got too much advantages than before to obtain that goal. I strongly recommend reading Kiyosaki, He’s got such a great insight about this.

    From Peru

    Javier Goya

  10. Samantha says:

    Very informative. Thank you very much.

  1. September 18, 2007

    […]There are many blogs and websites about “Financial Freedom”. I’ve come to notice that each site author has a slightly different definition of what Financial Freedom really is. So, my goal here is to just lay out in plain sight what my … […]

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