I’m aiming to get my financial freedom by the age of 35!
A rather bold statement I’m writing for myself or blunt statement for those who know me and my situation.
I know that I’m not ready to post this and not really sure when I’m going to be ready, probably never will be, but anyway here it is. Let this be a part of my history or my legacy if I successfully achieve it.
I’m going to publish this post today (finally!), after drafting this for so long, in fact it was since earlier this year. Let this post act as a reminder to my own self everyday and whenever I’m down or going into wrong direction, to achieve what I’m targeting for: being financially free at the age of 35 (or before). Just for the record, when this article is published I am 33 years old. While getting financially free seems an impossible task at the moment, especially given such sort timeline but I’m actively taking actions to reach the target.
It’s not just today I started to think about this financial freedom. In fact I have started since quite some time back when I realized I can’t go on and on like this forever. Living from paycheck to paycheck and far from many things you like and love. Have you thought the same for yourself? If not, then take a moment to think about it – while continue reading below – which hopefully sets a fire inside you to be like me, taking the actions too.
Reasons why I want that Freedom, the Financial Freedom!
I’ve seen people, older than me who keep doing things they don’t like, who keep working even their bodies seem not capable of doing the work they are doing, I’ve seen people worried sick about their retirement yet they do very little things about it, I’ve seen people struggling to meet their end needs but at the same time still trying to keep up with the Joneses – they spend way more and over than what they earn. I’ve seen people fight, leaving home, frustrated because they don’t have enough food on the table. Well, I’ve seen so many things already which they made me thought, what about me, myself? Am I going to end up the same thing like them?
Of course not!
And while everybody has their very own reasons why they want to have financial freedom, but for me, these are the reasons.
- Life is short! I want to enjoy what I like and love while I’m still alive and have the energy.
- I have given up not meeting my parents and relatives for the past 10 years or so, pursuing career and money in other countries. I came from developing country, and knowing the fact: for the same amount of time I spend and do the same type of work, I can get more money if I do it on a developed country – compare to if I do it on developing country, so I go work on developed country, leaving my parents and relatives behind. Lucky for me, I got my wife with me. But like myself, because she followed me here, she has to leave her parents and relatives as well.
- I want to take revenge on what I have done to them (being far away from them), by being close to them. They don’t live forever, don’t you know that?! Both my grandpas and grandmas were already passed away. Gone for good and never come back.
- While money is not everything (I’m not treating money as God and my way of life), but with money (or the power or effect of it) I can freely do whatever I want, like and love (think it the positive way), such as being close to the family and spend more time with my wife.
- At my current state, if I stop working and go back to be closed with my parents, while I can do that but not only I may not be able to support them anymore – even I probably may not be able to support myself and my wife (I have a housing loan on the developed country I’m staying). The day I stop working is the day I stop earning. After some time, my bank account shall go dry and again I have to go back to work earning money. So it’s like chicken and egg situation here.
- All my wife and my attempts to have passive income streams are not materialized yet, some of them materialized but they are not enough yet to support my day to day activities and expenses.
- Lastly I don’t want to be forced to work on my retirement age. If I want to work during my retirement age, that’s simply for filling time and to move my body (exercise) only and solely not for money.
So with all the reasons above, they drive me not only to NOT giving up to the current situation but also haste me to pursue my own financial freedom, so there you go, I’m aiming to have my financial freedom by the age of 35.
Financial Freedom Gurus
There are many ways to achieve financial freedoms or so they say. While inventing the wheel yourself is possible, but why not follow those who have succeeded before, learn their formula and tweak based on your needs and ability. Isn’t that going to be a lot easier? The answer is yes. And so that’s why I have my financial freedom gurus. And so you should too!
Different people who pursuing financial freedom may have different financial freedom gurus, but here’s mine. In case you don’t have any yet, hopefully my writing here can make anyone of them to be one of your financial guru – at least for a start.
1) My family (dad, mom, wife, in laws). They work hard, smart and with integrity and they value-add. Now they have their financial security and to some degree, their own financial freedom.
2) Pat Flynn from Smart Passive Income. This was my first guru. I knew him from his Podcast called Smart Passive Income. He opened my eyes that passive income is possible, even better it’s part of his job trying so many things to see whether they work or not that made him his passive income.
3) Elon Musk, the real Iron Man of our world and on our time. From payment gateway (PayPal), electric cars (Tesla) which makes oil-producing countries worried-sick and fly me to the moon mission (SpaceX), this man is unstoppable! His will bent the universe, so the universe follows his will.
4) Bill Gates, Microsoft founder, the world richest man living on planet Earth. I like his quote, “If you born poor, that’s not your mistake. But if you die poor, it’s your mistake“. And you know what, to inspire you, Bill Gates is the same as all of us – a mere normal human, but he can achieve that.
5) Phil Town from Rule 1 investing. Again through InvestED podcast (originally) then books and audio books. He taught me that everybody can be an investor like Warren Buffet – so long you learn to know the game and follow the rule – Rule 1: Don’t lose money. On his podcasts, books and audio books, he shown and taught all the tips and tricks required in investing. I suggest you to visit it to see if it can help you to know more about investing world. Podcast is free by the way!
6) Tony Robbins from various YouTube videos about him. I didn’t know him that good until I read his book Unshakeable, where he taught me he owned nothing while he was a little boy and boy! look at him today! While he’s not the richest man in the world, he is pretty much able to turn 180 degrees his condition from a poor who didn’t have anything to eat to become a wealthy and generous man. At the time this article is written, I’m on my way completing his Money: Master the game book. One of his lesson is to trigger yourself into trance mode and keep it for as long as possible, because in trance mode, you have overflowing energy which makes everything to be possible, easier and work for you. So that’s the reason why I’m writing this article – to trigger myself into trance mode and keeping it on, which hopefully triggering you as well.
Though I never really met with all of them in person (with exception of my parents, wife and in-laws), but thanks to all technological advancements we have today with us, I am able to get whatever they shared – via YouTube, Podcast, ebooks and audiobooks.
Ways to get into Financial Freedom
There are so many possibilities to achieve financial freedom. Here some of them (summarized version) that I learned from my gurus. Though the goal is the same – achieving financial freedom, but their ways of doing to get there and their terms for financial freedom are all different. These are samples that work for them.
1) Getting higher salary, work not only harder but smarter, spend only on things you need, save and invest hard. This I learned from my parents. Now they have retired from 9-to-5 work and while they don’t own massive proceedings like Tony Robbins or Bill Gates but they live a happy life.
2) Value add things. And if this something help solve other people issues, in the process and in the end, you’ll reap the benefits from those whom you helped. The more the merrier the heftier the impact on you and your financials. Like my in-laws on his snack selling and distribution business, helping smaller business to buy in quantities they can afford, or like Pat Flynn on his Podcast providing guidance on making passive income or like Bill Gates who help millions of people getting to know and in love with computer with Windows or like Tony Robbins who provides ways people to get to their peak state and share them via YouTube videos, books, audiobooks.
3) Invest in yourself and in financial instruments, enable and earn passive income, make money works for you and not you work for money. Like Elon Musk who never stop making breakthrough – the latest are reusable rockets and self-driving and pickup car (just like what you’ve seen in movies), now his investment on himself has starting to pay him back (his Tesla was near bankruptcy but even if it was really happening back then, business would still fetched and saved him because his massive knowledge, vision and mission for Tesla) or like Phil Town from Rule 1 investing who came from a humble beginning – a river tour guide – who are now millionaires, thanks to his investing in himself to learn various financial instruments and make the move to really invest on the instruments.
Those 3 are just samples. And as you can see from the samples, financial freedom has so many ways to achieve and it is not something absolute. In a way that different people have their own terms of financial freedom, so long you happy and feel fulfilled.
My terms are those reasons I spelled on the previous paragraphs.
Actions taken to reach my Financial Freedom
Over the past 33 years, I have made some changes to myself and my habits, replacing them with a better one. These are what I’m doing now to achieve my financial freedom.
1) Keep myself healthy. Because without health, wealthy is nothing. Financial freedom is bull shit if you are sick. Getting healthy should not be that difficult nor expensive. Like me, I choose to take staircases instead of elevator or lift. I choose to be a food delivery man instead of going to gym.
2) Work best and be smart on using time. Focus to clear the tasks on hands while find ways to improve and do more. By giving my focus and best effort, I avoid the need to keep redoing things. The time I saved I can use it to do something else more meaningful to me (like what I mentioned below). Do you realize that you can make more money but you can’t make more time? Read here for details about time.
3) Get out of my comfort zone. For the record, I’m an introvert. The past few months, I’ve successfully given training to bunch of people, spoken in public, got to know new people by starting out conversation with them. The impact to my financial freedom? I’m embracing changes to myself, my mind, my bodies, my soul.
4) Savings, by not spending all my paycheck, especially for something that most of its lifetime is going to be in my drawer. I’ve got 2 Nintendo Wiis, sets of Blackberries, iPhones and cameras at home which now I used as house decorations.
5) Go and see the world. While it seems I’m wasting money here (yes it is), but in exchange I’ve got the priceless experiences to see the other side of the world, new things, new opportunities which I may not be able to find if I never go and see the world. Going out to see the world made me know various places which I can hop for my retirement. Who knows life in New Zealand is so peaceful whereby business start 10am and by 5pm, most public places (except Supermarket and few restaurants) are closed. Place from where I was born, life start at 4.30am and 5pm means mass traffic jam!
6) Keeping my eyes, ears, nose – basically all my senses and mind open on various financial instruments this world has and actively learning them. Do you know that simply by moving your saving account or current account to a deposit, you’ll earn more? Do you know rather than deposits, bonds give you higher interest rate, while keeping the principal secure – just like a saving account and a deposit? If you don’t know, you better start learning about various financial instruments, start from the easy one, like deposit and government bonds.
7) Instead of buying the products, buy the company stocks. Rather than be the consumer, be the producer and be proud of it.
8) Discovering other stream of incomes, and a passive ones. This blog is one of the sample. I get passive income (they are in cents now, but growing!) from the advertisement. Look at this article to give you better picture.
Hopefully I’ll post the next one in the coming future.
To infinity and beyond!
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