financial freedom boils down to being able to do whatever you want without worrying about where your next meal is coming from. There is no exact amount of money where financial freedom is achieved. Some billionaires still don’t feel like they’ve made it. On the other hand, some people with poverty-level income feel like they have arrived. Financial freedom is not just about surviving. It is about surviving in a way that leaves one fulfilled and happy with life. Here are my top reasons for why people never achieve the financial freedom that they want:
Once you get past the survival part of your finances it comes down to finding happiness. We always talk about finding happiness but the pursuit is paradoxical. The very act of finding it is an expression of unhappiness. The harder you pursue it the more unhappy you become. At some point, you have to be able to decide that you found happiness. That isn’t to say that you will always be happy but if you can create an environment where your needs are met most of the time you are set for a good life. practicing minimalism can be a great way to discover just how much you need to be happy. additional reading: minimalism. van-life.
making money the wrong way
Your best way to know if you are making money the wrong way is to imagine yourself on your deathbed reflecting on the course of your life. If you find yourself wishing you lived it differently then start making the changes to align the present day with where you want to be in the end. I think the ultimate way of making money is through passion. It’s as simple as making money doing what you would have wanted to do anyway. For most of us, this isn’t the reality, and I would say the second-best choice is to seek passive income. this can involve a lot of work initially but leads to not having to work at all later on. If you aren’t able to be passionate about making money be passive about it. Let your money work for you and don’t trade time straight across. Finally, the third-best method involves working for the greater good. You might hate your job but just make sure your sacrifice is worth it in the end. To sum up, be passionate about what you do, work smarter not harder, and make the best with what you got. additional reading: Enjoyable ways to make money. Passive income ideas.
Being too afraid to take risks
You miss 100% of the shots you don’t take right? I kind of hate that saying because it oversimplifies the issue of failure. Most people don’t take shots in pursuit of better ones. Hindsight will always tell us that we should’ve done something when we didn’t. Being able to take risks isn’t about whether or not you took the shot. It’s about being okay with failure and some shots aren’t worth it. My acceptance of failure has always come in conflict with my perfectionism and we have to learn to let that go. Eventually, the chances of success outweigh the chances of failure and we have to throw perfectionism out the door. Its when action is more valuable than knowledge and preparation. As long as you are right more than half the time you should take the risk. Then it’s okay to just keep shooting. additional reading: loss aversion bias, don’t make emotional decisions, stupid people think they’re smart.