What Kind of Freedom Do You Crave?
Freedom is relative and largely depends on an individual's circumstances, the country they live in, and the home they grew up in. Our definition of freedom changes over the years, as do our goals, our jobs, and our income. But it's important to understand what freedom means to you.
Reflecting on the topic can help steer you down the path to a more fulfilled and satisfied life, which is what this blog is all about: Helping you learn how to use money to gain freedom (whatever that means for you) so that you can live a wealthy life.
To me, freedom is the ideal measure of wealth. Having freedom (not only from monetary obligations, but in forms of a healthy body, focused mind, and alignment with what you love) can create ultimate wealth in my eyes.
Wealth and freedom.
These words feel good to me. They feel holistic, attainable, and true to what I want to gain out of the work I do.
Here are the 3 types of freedom I strive for to create ultimate wealth:
This has always been an important one for me. The freedom to dictate my own time. I'm not sure why time is something I clench so tightly to, but if I can't fit my workout in at the end of the day because I have to stay late and work under someone else's watch, it gets to me (plus, I become a bit cranky).
I enjoy working. Sometimes, a little too much. But I also enjoy working when I'm most productive, and taking power naps when I'm not. I've learned to protect my schedule, because even now outside of the 9-to-5, people want to get on your calendar, and it gets difficult to guard those hours in your day where you have to be completely self-reliant on staying motivated.
Time is the only thing in our life we can't get back.
This is why time comes before location and financial freedom. Money is in constant flow, but time is limited and definite.
I guess I wasn't built to let someone else schedule my day and hold expectations over me that didn't feel that important to the success of the company. My time is so precious to me, and what I do with that time needs to be carefully considered.
Maybe I'm a time snob, but at some point, I knew that achieving ultimate time freedom, where I could choose when to work, when to workout, when I got to eat and for how long, and so on and so forth, would be the turning point in building a freedom-based business.
The freedom to work or live from anywhere is less important to me than time, but it is something that I have always craved.
In the year working on my freedom-based business, I've taken steps to get to a point of being truly untethered; however, I still find myself craving a home base every now and then.
It's really nice to have a reason to get up and be motivated to put makeup and something that doesn't have stretch fabric on your body. It's nice to be surrounded by others working toward a common goal as you. Routine can be powerful, and location freedom may not be a proper fit for all.
It's a juggle, and maybe I hold this objective of freedom as an unattainable goal, but I believe someday I will achieve it, and you'll be reading a blog post from me in Thailand as I sip on Thai iced tea by the pool of my AirBnB (really making an effort to rhyme more).
Finally, there's financial freedom. My ultimate long-term goal. The ideal financial freedom formula for me is to create passive income streams that support 80-100% of the income I need to live on. Active income streams bring in an extra 25-50% of the income I need to live on, but I don't live on all or any of it, because if you add any of my passive + active income numbers up, it will always be over 100% of the income I need.
Financial freedom takes time to build, but it also takes a plan. Which is why I began this road to success at the ripe old age of 22, investing in my retirement, opening my first brokerage account, and searching for a rental real estate property to invest in.
Some years I take steps that catapult me forward towards this freedom goals, and some years I have to take a risk that will set me back, but the fact is that I'm making it happen, little by little.
When you achieve freedom in your life, whatever type of freedom you value most, you'll realize that you are living a wealthy life, no matter your level of income or amount of money in the bank.
Define your freedom: Is it freedom of speech? Freedom to eat whatever you want? Freedom to love yourself? Freedom to travel? Freedom to live an open life? or one of the ones listed above?
Write down your freedom goals and make a plan on what steps you will take to get there.
And share your thoughts with me. What kind of freedom do you crave? What makes you wealthy? I'd love to hear your input in the comments below.