...is really a concept of freedom financially, mentally and emotionally.
The three pillars of achieving basic freedom for me in my personal experience is
Thing is, we all need a certain amount of money to survive, and studies are showing that it's about $75k per year ($6250 per month) is all we need to achieve a certain level of mood, happiness and comfort...any anything above that doesn't show a significant difference ie even if one makes 2x the amount which is $150k, their happiness and mood is the same as when they're at $75k.
What I wanted to say was: "I don't think we need that much", but everyone's lifestyle and spending habits and demands is different, eg single individuals vs couples vs couples with children vs where they live etc - too much variables. Of course, usually the bigger the family the more expenses - that's normal and natural. I just try to encourage you to not spend on things that don't matter but spend within budget - even if lavishly - if it's within the budget.
Personally, once I had experienced again and again how my businesses make money for me and my dividend stock pay dividends regularly, like clockwork, there's this sensation of...how do I put it...
"I am free, I am not worried about money (though we are not rich), but I don't worry so much anymore, and I can focus on things that are important to me eg family, meaningful conversations and pursuits. I don't have to live with mean/disrespectful colleagues and bosses and people - and that has made my life much easier"
We are definitely not there yet in terms of passive income (at this point in writing, only about $12k from dividend stocks though our physical business provide us much more than that), but I am ramping up my online business and injections into dividend stocks for the next 5-10 years.
By the time I'm 40 (or max 45), I want to be able to more available for my family and children without having to just work long hours just to put them through school and life and then die.
Nope.
I'd like to have the option to be more for them until they don't want me around anymore (heh). And that's my deep seated desire.
What's yours? Comment below.
Head to Home Page
Start with these:
They are my recommended to start with articles that ties in the entire framework, philosophy and working model of FIRE Lifestyle
Save-Earn-Invest More Articles
See more Save, Earn & Invest More articles here.
Others
Wealthy affiliate: #1 to learn how to build profitable wordpress online businesses
Wealthy Affiliate is my recommended for WordPress online businesses. I've been a premium member of Wealthy Affiliate since 2015 and there are a number of pros to be with them, which you can read at my Wealthy Affiliate review here. One of my favorite points of WA is that they have a try-before-you-buy forever-free membership which you can sign up here for free. No credit card needed. |
solo build it (sbi): #1 for offline businesses local search engine ranking, traffic and lead generation
Solo Build It (SBI) is my #1 tool for local search engine optimization (SEO) domination as well for online marketing which I've been using since 2010 personally for multiple projects. Read why I chose Solo Build It... ...and more importantly, why I still stay with Solo Build It (SBI) till today and use them exclusively for all my SEO, traffic and e-lead generation. |