A 10-Year Roadmap To Financial Freedom
Jul 02, 2023Hello Stoic Investors,
Today I want to talk about freedom.
We all want it.
But most people are stuck in their boring 9-5 jobs and feel like that’s an impossible goal.
So, they give up, spend their prime years watching Netflix and ignoring their future.
Why?
Because it’s an easy thing to do.
Financial freedom isn’t a walk in a park. But it’s a walk worth taking!
I know many people that reached financial freedom.
Let me tell you what 10 years of determination can do.
The roadmap to financial freedom
Warning. This section just might change your life.
I’m actually hoping it does.
Stage 1: Barely living
Unless you have already made the leap of faith and are currently powering through life with clearly set
goals, you’re here.
Most millionaires started here so don’t let it get you down. Take it as inspiration.
This stage is common for most busy workers. Managing your household, doing chores, going to work
is probably taking up the majority of your time.
But you have to find 1 hour per day.
Why?
For growth.
The very first thing you need to do is set up a budget. It doesn’t have to be complex.
But you do need to track where you spend. Especially if you’re left with $0 at the end of the month.
Optimize where your money flows.
Stage 2: Protection first
After a month or two, you now have some money set aside.
Use it to create an emergency fund. Life is full of unexpected events and you really need to be
prepared for that.
Already have it? Great. Let’s move on.
Stage 3: Get things done
Do you know how most people succeed?
They get hungry for success. This is not merely a mindset thing. Your environment is equally
important.
If you spend you weekends drinking in clubs, you’re wasting your most productive days.
So, find a good environment and get things done!
Learn new skills! I’d suggest you start with learning about money. I know it’s cliché, but Rich Dad Poor
Dad is a great book to start.
Stage 4: More
Now that you’ve acquired new skills, there is only one thing left.
Sell that.
The internet is full of possibilities and anyone can build a brand or freelance.
Find ways to boost your income.
Why?
Because there is no cap on income.
But this is not only about money. There is no better way to learn than through building something. Your
wisdom will grow exponentially.
Stage 5: Invest
Once you start making some money on the side, you now have a choice.
You can either put it towards your personal growth that allows you to increase your earning power. Or
you can invest it and let your money compound.
Both options are great.
However, investing is a bit more hands-off. You have a limited number of hours to spend each day for
work. On the other hand, you money needs to rest to grow.
Stage 6: Do whatever you want
If you followed each step closely and really devoted your time to that, you’re now earning more than
you can spend.
Your investments are growing and are big enough for you to stop worrying about money.
You now get to spend your days doing what you love.
Fishing at 11.00 in the morning? Why not.
Taking a vacation without asking your boss? Hell yes.
The best part?
It doesn’t take more than 10 years of hard work to make that possible.
So, note down these points and start growing today:
1. Financial freedom starts with an air-tight budget
2. Rich Dad Poor Dad is a perfect book to start your journey to financial freedom
3. Investing is a key component of wealth