The Formula for Financial Freedom
Hey everyone, Salena here. I want to talk today a little bit about one of the real commandments of being a freedom warrior in the mastermind that I run, and that is that a freedom warrior knows that financial freedom is achievable.
Now, if you ask the average Joe whether they believe financial freedom is achievable, most people will say, “Yeah, sometime.” And then when you go on and ask them, “Well, what does that actually mean for you?” they will say things like, “When I can play golf three times a week, when I can sleep in, when I can eat at fancy restaurants, when I can go to the shops and buy whatever I like, when I can drive the fancy car.”
You know, there’s a whole range of, I guess, ideas that people have around what they believe to be financial freedom. But as a freedom warrior, what I believe is that financial freedom is very precise. It is not a whole list of wishes and wants and, kind of like, ideas for how your life will look. It is about concrete when this is in place, this is in place, and this is in place, then financial freedom exists.
So, the number one starting point that I would suggest that you need to consider if you’re a business owner, and you’re really interested in creating financial freedom rapidly over the next three to seven years, what you need to do is get very concrete about what financial freedom means. Now, it’s a formula. The way I look at it, it’s a little bit like a formula. It’s when A plus B plus C is in place, that equals financial freedom. And let me give you a couple of examples.
So, first of all, financial freedom for many people, number one is, they’ve got no mortgage. So they own the house they live in, so that might be number one. Number two might be when their kids are financially independent when they’re earning a certain amount of passive income when they’re in a position where certain kinds of debts are eliminated when their surplus cash flow is at a certain level per annum.
So, there’s a whole variety of things that might be meaningful to different people, but the key here is, defining financial freedom is the very first step in getting to the plan which will deliver the financial freedom.
So if you are interested in being a Freedom Warrior, the very first step that I encourage you to take is to sit down and define what financial freedom means to you, not as a list of wishes and wants, but as a concrete formula. A plus B plus C, when that is present, that equals financial freedom.
I hope you found this useful. As always, look forward to chatting next time. Take care.
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