Financial freedom is not for everyone
Financial independence is an interesting topic maybe not for everyone but at least for people who are interested in managing their personal finances. I have met a lot of people who want to attain financial freedom and also those who have concrete plans for the same. Today I got a chance to talk to a few people about their thoughts on Financial freedom. First of all many people did not even know what Financial freedom was and some people did not even think about that. It was to my surprise that there are people who don't care about the future and live in the present. They spend what they earn and I even wonder if they try to save anything or not.
The first thing that people think about getting is a new liability and only later do they think about savings. Even when it comes to savings, they are not clear on how they can do proper savings. I know there are many people who have good financial awareness and I cannot judge the general public with just the people I met and tried to talk to. The group of people that I talked to are all full-time employees with a decent salary which they think is sufficient today to lead their life and they are having a thought that this salary would keep going until their retirement.
How much would be sufficient in life?
I started questing people with this asking how much would be sufficient for them to live if they had to quit working today. Mostly people think only about a few months and they give some unrealistic value. It was very interesting to have this conversation and get some perspective from others. Most people say that I need sufficient enough that would make me keep going without a job. I asked them what they would be doing after that and the straight answer was that they would get another job and keep going.
In a way, they say that it is not valid to think about things they would do if they have more money but at the same time I was surprised to see that many people don't even have a proper investment plan. There was this young chap who gave a very good number and I was happy to think that at least he had some thoughts on attaining financial freedom. But later after continuing the discussion, I came to know that he wanted to spend that money only on luxuries and there was no idea to save them or make that money generate more money.
Maybe financial independence is not for everyone
I concluded with this thought that not everyone is interested in financial freedom and maybe it is not for everyone. People would like to have a good cash flow every month but they mostly think that they have to continue doing a day job for it and earn from that. They don't believe in passive income or income from their assets. People talk a lot about creating liabilities and mostly they would try and expand their income only if the liabilities are high and if their income is not sufficient.
Finally, I came to the conclusion that not everyone is interested in financial learning or proper asset management. Maybe it might need some more time for people to find the importance of financial planning. When they have kids to take care of, things can change a little bit. But usually, it takes a lot of time to think about financial freedom. I have to be very honest that it took me a lot of time to think about these things and I thought about having a secondary income very late.
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What about we can take these people only follow the others, talking about financial freedom but never take action to learn, to start their own investment? Probably they don't even know the real definition of the financial freedom though?
Yes indeed. All they want is, earn spend and earn again to pay bills.
Sometimes I just think about this world as been vanity because I always think, to what ends is this pursue of wealth and money
It has to keep going until we are safe to say that we are financially free.
It is really sad , but a true fact. Only when something is out of their reach, will they know the importance of financial freedom. But by then it will be too late.
Quite true.
Is it ever too late? With my small mind, I think it is never too late. Also, I love the point you have raised. Your points were 100% accurate from my pov. Loved your post.
The problem really is that people think millions of dollars doesn't run out, so if you hit the jackpot you can live forever! "If you dare!"
Even if you hit millions of dollars, people should know what to do with the money. Otherwise they would spend the money and get back to square one.
Back to square one until you've learned what to do right 😂
You might be right saying financial independence is not for everyone, however, I think the reason why most people don't care about savings is because they think that you earn as your spend. You could imagine such idealogy😅 The more you spend, the more you earn and it only dawn on them the last minute that life isn't all about spending
Just like that if we keep our money inside the bank then it allows us to withdraw some money every day money is also ours but the government does what it uses it does what it does so these things are very wrong if we see. Cryptocurrency is something that gives us the option to withdraw our money at any time.
Yay! 🤗
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