Breaking the Chains: The Importance of Achieving Financial Freedom

In our previous article, we discussed how changing our spending habits can lead us towards financial freedom. Today, I want to take you on a journey that starts with a story about a man named Bob.

Story of Bob

Bob was an ambitious child from a middle-class family who loved to learn and enjoy every aspect of his life. He believed that with hard work, anything was achievable. Bob dreamed of becoming a millionaire, owning a fancy car, and even building his own Iron Man suit after watching the movie. However, ten years later, Bob found himself working as a programmer, stuck in the same routine for years on end. The reality of his financial situation and his mundane routine controlled his life, leaving him with no room to follow his childhood dreams. He woke up at 6 am, worked until 6 pm, and didn’t return home until 9 pm. Despite his hard work and determination, Bob found himself trapped in a never-ending cycle of work and stress. His long working hours left him with no time to pursue his passions or enjoy life. He began to feel like a robot, going through the motions day after day without any real purpose. As time went on, the memory of his childhood dreams began to fade away, replaced by a sense of hopelessness and resignation. Bob had given up on his dreams, and with it, a part of himself. He couldn’t help but wonder what his life could have been if he had chased his dreams instead of settling for a job that drained his energy and soul. Now, his only expectation was to survive day by day.

Everyone is Bob

Bob’s story may seem dramatic and sad, but in reality, it’s a story that many of us share. As children, we dreamed big and pursued our ambitions without the burden of financial or physical constraints. We had no worries about earning a paycheck, and our goals in life were always within reach if we worked hard enough. However, as we enter the working world, we often forget about those childhood dreams and convince ourselves that they were just fantasies rather than achievable goals. We accept the notion that we have to work a 9–5 job for 20–60 years, living paycheck to paycheck and barely surviving.

But what if I told you that everything is possible? That those childhood dreams can become your goals once again, and in a few years, you won’t have to worry about waking up early or your financial status? If that sounds exciting to you, then let’s begin the journey to financial freedom.

What is Financial freedom to you?

Financial freedom is the concept of having enough passive income to cover your living expenses, without relying on traditional employment. The exact amount required varies depending on factors such as location and lifestyle. For some, it may mean having enough saved for retirement. For others, it may mean being able to live a carefree lifestyle without having to worry about finances. But there is much more to financial freedom than just these surface-level definitions.

Through reading books and talking with people who have achieved financial freedom, I discovered that there are many hidden benefits to this lifestyle. It’s not just about having the financial means to live the life you want, but also about the freedom to pursue your passions, travel, and make a difference in the world without being held back by financial constraints. In the upcoming sections of this article, we’ll explore the hidden perks that come with financial freedom. Whether you’re aiming for a carefree lifestyle or a secure retirement, achieving financial freedom can bring you much more than just financial stability. Let’s delve into these perks and see how they can transform your life.

Free Yourself from Stress

Have you ever thought about how long you actually work in a day? We’re working all the time, even when we’re not physically at work. In the industrial era, most jobs involved physical work like farming or labor, and we had definite working hours. Once work was done, it was done. The factory would close and you couldn’t take any work home with you. But in the last decade, most jobs require creativity and a lot of brain power, whether you’re a programmer, marketer, actor, doctor, or salesman. We’re required to think all the time, and it’s normal to keep thinking about work even after working hours. This is why the number of people experiencing stress or depression has significantly increased in the past 10 years. We can no longer differentiate our working and resting time, and this issue is even more severe the higher our income is. Like the saying goes, “With great power comes great responsibility.” People force themselves to the limit just for one thing: money. Money can’t solve everything, but most solutions require money. If you have financial freedom, you no longer have to worry about jobs or working in fields you don’t want to. You can work for your passion, for what you actually love, and for the greater good, not just for money.

Prepare for the Unexpected

Life is full of surprises, some good and some bad. But what if you woke up one day with a serious health issue? Would you be able to focus on your recovery, or would you be stressed about the medical bills and work? Financial freedom gives you the peace of mind to prioritize your health and well-being. It allows you to take the time you need to heal without worrying about finances.

Financial freedom also means being able to enjoy the little things in life. Imagine receiving news that your favorite musician is holding a concert, and you want to have the best seat in the house. With financial freedom, you won’t have to worry about cutting back on expenses just to afford the ticket. You can live in the moment and fully enjoy the experience.

Time Management

Money can’t buy time, but it can certainly help you manage it better. We often hear stories about successful people who have everything they could ever want, except time. They trade their time for money and end up missing out on the things that truly matter in life. Little do they know that the time they trade is not just their own, but their children’s as well. With financial freedom, you’ll be able to manage your time, decide what or when you want to do things, and who you want to spend your time with. You won’t have to sit in a concrete box for 40 years and wake up when your children are ready to leave you.

So there you have it, financial freedom. I hope this article has helped shed some light on the importance of achieving financial freedom and has motivated you to take action towards this goal. These points are just a few of the benefits of having financial freedom, and there are countless other reasons why it’s worth striving for.

In my next article about investments, I’ll discuss why you should start investing and the various options available to you. But before taking any action, it’s essential to identify your “why” — your reason for pursuing financial freedom. This will serve as your guiding star and keep you motivated in the face of any obstacles that may arise.

Remember, financial freedom isn’t just about accumulating wealth. It’s about living a life that’s free from stress, uncertainty, and limitations. So, take charge of your finances today, and start working towards a brighter and more fulfilling future.