Everyone aspires to gain financial freedom, however, not many manage to attain or even come close to it. Some of us may not even want to face the question, leaving it much to our governments to take care of us. It is only during difficult times, such as the loss of a stable income, illness, etc. that we begin to look deep into our financial situation.
For most of us, it is a question that we conitnue to put off.
“Oh, I’m saving up for my car now.”
“We are still paying off our home! We wouldn’t have funds to invest, let alone, pay off our monthly mortgage.”
“We just had a new baby. Our funds are tied.” (2 years later…) “We just had our second kid.Can’t really put aside any funds.”
“Let me pay off our holiday bills…then I will think about it.”
“Retire? Right…when I am 70 or 75. That’s when the mortgage is paid off!”
Does it sound familiar? Not to worry though…we have been through the same situation. The fact remains though – don’t whine about it. Do something now!
Here are a couple of areas to consider:
- What does Financial Independence mean to you? Why is it important?
- Do you have any passive income, i.e. some money to get you buy for doing literally nothing? How much does it contribute to paying off your weekly bills?
- When are you able to retire and live comfortably? Are you happy with the situation?
- What steps are you taking right now to get your way to financial independence?
The beauty about financial planning – it starts with just a few dollars each day (i.e. maybe the cost of a coffee or a soft drink) and putting the money to bring in the right returns. The truth about financial planning – we should have started yesterday, or for that matter…when we were 18…or earlier. You get the picture.