Financial Independance – How to become wealthy part 2

 

THE AMERICAN DREAM

THE AMERICAN DREAM

The American Dream is a national ethos of the United States, a set of ideals in which freedom includes the opportunity for prosperity and success, and an upward social mobility achieved through hard work.

The American Dream. The chance to go from rags to riches. To start with nothing and then, through hard and calculated work and personal initiative, lift yourself from poverty to wealth. The American success story has been a tradition of this country since its beginning.

Read the article Financial Independance How to become wealthy Part1

It’s not surprising that most people occasionally dream about having financial and personal freedom. They would like to live in a beautiful, spacious home in a high class neighborhood, drive luxurious and expensive cars, eat in the world’s best restaurants, take exotic vacations and have enough time to leisurely participate in all the activities they enjoy.

For the vast majority of people, financial independence is nothing more than a passing daydream. Although they know of people who have started with nothing and become wealthy, they for some reason don’t think it could happen to them. They have no expectations of becoming rich; some people actually believe that opportunities no longer exist. They say that things are too difficult for the middle class working man, that he doesn’t have a chance. they tell us that taxes are crushing the little guy while a few rich, fat cats benefit from tax loopholes. They tell us about inflation, how it eats away at our savings and makes it harder to pay our bills every year. When people do finally get around to taking steps to improve their economic situation, most don’t want to do it through their own efforts. instead, they demand that the government do something to improve their position. But the more the government does, the worse things get. People believe that the conditions that exist today make it hard for a person to get ahead. Their outlook on the situation is wrong. The financial system that exists in America today actually makes it relatively easy for a person to become wealthy. Those individuals who are willing to step away from the crowd and think independently can use the patterns of economics that now exist and will continue to exist and put them to their advantage. The very things that are great obstacles to most people can become financial aids to the person who knows how to use them.

The average person is like someone sitting in a raft trying to row upstream against a raging river. The harder he rows, the more the current pushes him back. He complains that the river fights against him. He wishes and hopes that the current will stop. But for some reason he doesn’t realize that he could get somewhere very easily by flowing with the current. Instead of complaining, like some candy ass sissy, about the way things are, instead of wishing things would change, you should examine the reality of economic conditions in America and abroad, learn to understand them, to flow with them and to use them to your advantage. If, rather than trying to fight against the reality of inflation – a fight you will always lose – you start using it. Complaining about taxes won’t do you any good. It will however, do you a great deal of good to learn how to avoid paying taxes. Flow with the current of American economics and you can become financially independent very quickly.

Financial independence is, as it has always been, for the individual, and not the masses. It is for the individual who has the courage to step away from the crowd and take charge of his own destiny. Nobody can become wealthy waiting for the government to supply them with a free lunch. Neither can someone become economically successful by being jealous or resentful of those creative, productive and imaginative people who have already made their fortunes. The loser parasite who demands that the government steal from the rich and divide the wealth among the people will always be at a low economic level, even if he gets his wish. Wealth does not come from government programs or from sociological or political philosophy. It comes from the efforts of individuals acting independently in their own personal interest.

In America you have the right to work for your own profit and to benefit fully from your own efforts. This is still the land of opportunity. And if you are willing to set out on your own and follow a proven path to wealth, you can still become financially successful. Many people before you have started with nothing and become wealthy, and there is no reason you can’t do it too. Financial independence can be different things to different people. To one person it may mean an income of  about $100,000 a year, and a major motive for achieving this might be to have financial peace of mind for himself and his family. Such a person may continue to work at a regular job, by choice, even though he could afford to live modestly without working. Another may not think financially independent with an income of less than $500,000 per year, and may wish to spend time working out or skiing at various resorts throughout the world and enjoying other leisure activities without working at all. The first person would need only about $150,000 properly invested to achieve his goal, the other would need considerably more.

To me the value of financial independence is not so much having money as it is having freedom, the freedom to do what you want to with your time. Suppose some friends called you on a Sunday night and invited you to join them for a week in the mountains starting the next morning. If you’re the typical wage slave, you would think that was a crazy idea. As much as you might like to go, you can’t. You have to go to work the next day. If you were to take off, you’d probably lose your job, and you can’t afford that. You need the money. You depend on your job. And you accept the forfeiture of much of your personal freedom in return for a regular paycheck. Financial independence can set you free.

NOTE: REQUIRED READING –>The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime

Simply making a lot of money is not being financially independent. Many people spend their lives trying to advance to a job that pays $40,000 or $50,000 a year. Others feel they have a good job if they make $20,000 a year. Why should someone worry about becoming financially independent if they have a “good job?” The fact is that they have been conditioned to accept a deplorable life style. I know people who get up at 5:30 a.m. After eating breakfast and getting ready for work, they leave home at 6:30 a.m. and begin a hard fight through an hour of commute traffic. They usually get to work around 7:30 a.m., half an hour early to make sure they don’t arrive after 8:00 a.m. and get in trouble with the boss. They work from 8:00a.m. to 12:00 p.m. Twelve to 1:00 p.m. is their lunch hour, which they spend sitting in the office eating with the other employees. Back at work at 1:00 p.m. and continue until 5:00 p.m. At five they resume their fight with the commute traffic and usually get home around 6:30 p.m. By the time they’re done with dinner it’s well after 7:00 p.m. They go to bed at 11:00 p.m. (they can’t stay up any later if they’re to follow the same routine again the next day). At best they have four hours of personal time on a work day, two days off a week, and two to probably four weeks vacation a year. Much of this time is taken up with personal business — going to the store, balancing household finances, doing house and yard chores. Is it any wonder they don’t see the advantage of financial independence? They are too dominated by their job to get the proper perspective on it. They are so involved in this way of existing, they can’t even see how oppressive it is. Indeed, since they have so little time, they usually haven’t developed many interests off the job, so they really don’t know what they would do with more time if they had it.

While financial independence means more freed time — free time means that you can live without having to work, it doesn’t mean you won’t work. There are many financially independent people who choose to work at jobs they enjoy. Famous actors are a good example. Many actors own stocks, apartments, ranches, and businesses. They have more than enough money coming in without working. They work not because they have to but because they choose to, and they choose what work they will do, turning down parts they don’t want. Working at a job you love is far different from driving a taxi cab ten hours a day because you have to pay the bills. Financial independence means not being dependent on a job that you must work at in order to live. It doesn’t necessarily mean a large amount of money but it always means a large amount of personal freedom. Although you will find financially people working you won’t normally find them doing menial office jobs, driving trucks, being low level government bureaucrats or checking groceries. Anyone doing these kinds of jobs is there strictly for the money. The only exception would be someone who fairly recently became financially independent and wants to be absolutely sure his position is safe before cutting off the security of the job. While the suggestion is that you free yourself from being a wage slave, the suggestion is certainly not to do it until your financial independence is firmly established.

The major reason for becoming financially independent is to live a better life. A boring, low paying job is certainly good compared to being out of work, but it doesn’t stand up very well next to financial and personal freedom. If you’ve been working so hard you haven’t had time to live your life, you should take some time to decide what you would like to do with your life if you had all your time to yourself. Personal freedom becomes a much more real and desirable goal when you know exactly what you are going to do with it. You also need to determine how much income you’ll need for financial independence. Once you have clearly defined what financial and personal freedom means to you, you will have taken the first big step towards getting there.

To achieve financial independence, a good deal of your time will be required. You are going to have to work. You will need to make some sacrifices. But becoming financially independent is definitely preferable to the alternative.

NOTE: Read –> http://boldanddetermined.com/2014/12/16/bum-mentality/

 

Until Next time,

God Bless you all.

I.A.A.M.

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