What is Financial Freedom?

What is Financial Freedom to YOU? Independence from the rat race implies various things to various individuals. Certain individuals consider independence from the rat race to mean 100% obligation free. Others consider independence from the rat race as having sufficient cash saved in the bank to live off, yet what amount is sufficient? How long would we say we will live for and what is the personal satisfaction we might want to keep up with? So again I ask, what is independence from the rat race?

Focus On Financial Freedom, Not Retirement

I think the best meaning of independence from the rat race that I have gone over is the one Robert Kiyosaki utilizes in his book Rich Dad Poor Dad. He says an individual is monetarily free when his/her remaining and additionally easy revenue surpasses costs.

Lingering Income: “Repeating installments that you get long later the underlying deal is made, normally in explicit sums and at ordinary stretches.” Example of this would be a lyricists or creators who keeps on getting sovereignties from the deals of a piece of work made once or sales reps who keep on getting month to month commissions from onetime deals. Automated revenue: “Pay got from business interests in which the individual isn’t effectively involved.” Examples of this kind of pay would be profits gotten from shares claimed or month to month pay from an investment property or even revenue brought in on cash sitting in the bank.

We should utilize Bob, a made up character to see precisely what I mean, and how about we check whether we can assist Bob with finding what independence from the rat race is.

Sway presently resides in a three room house and he drives a 4 year old BMW. He has an exquisite spouse and 2 youngsters both still in school. Bounce’s costs in general; the house installments, vehicle installments, school charges, food and so on come to around £2000 each month.

Assuming Bob wishes to turn out to be monetarily free and keep up with the very personal satisfaction that he appreciates today then he wants to build his lingering and automated revenue to be equivalent to or more prominent than £2000 each month. Presently Bob is monetarily free and in the event that he decides thus, he never needs to work again, he realizes that quite a long time later a seemingly endless amount of many months he will bring in sufficient cash to cover his costs for work he has done once.

Assuming anyway Bob wishes to build his personal satisfaction financial freedom and purchase that boat he has consistently had his eye on, or that fresh out of the plastic new vehicle, or even that 5 room house and still be monetarily free, then, at that point, he really wants to expand his Residual and Passive pay to cover his new costs.

Everyone merits independence from the rat race, you, me, our neighbors, everybody.

A day or two ago I was paying attention to a sound tape by Randy Gage and he was discussing a futile daily existence and everybody in it. He discussed the normal individual’s week:

Monday – Eeerrrrr… the alert awakens you, you get up, get dressed, eat, go through an hour driving to the workplace, work until lunch, eat, you work until 5 ‘o clock, go through an hour driving back home, you return home, cook supper, sit in front of the TV and afterward hit the hay broke from a debilitating day’s worth of effort.
Tuesday – Eeerrrrr… the alert awakens you, you get up, get dressed, eat, go through an hour driving to the workplace, work until lunch, eat, you work until 5 ‘o clock, go through an hour driving back home, you return home, cook supper, sit in front of the TV and afterward hit the sack broke from a debilitating day’s worth of effort.
Wednesday – exactly the same thing.
Thursday – exactly the same thing.
Friday – exactly the same thing with the exception of possibly rather than TV its beverages for certain companions or a night out to slow down from the week.

He said something that truly struck home and it is so evident when you consider it. He inquires as to whether you realize what time an individual should awaken. “What time are you intended to awaken?” The appropriate response: When you have gotten done with dozing! Not when a caution sounds…

Most likely life shouldn’t be tied in with working a JOB? This can’t be what we were put on this planet to do? This world is enormous, there is such a huge amount to see and do, such countless spots to venture out to, thus many individuals to meet. For what reason do we allow work to hinder encountering all that life brings to the table?