I know that there are probably many blogs out there and many magazine articles that have been written and dedicated to the subject of financial independence, but I would like to share with you what I have learned on this topic. I will also give you some reference materials so that you can continue learn, and education yourself as you apply what is being conveyed here.
Most American are, for all practical purposes, broke at the age of 65. This may seem like a bold statement, but you will realize that it is true if you consider that the vast majority of people do not have any significant income aside from earnings from their job. And at 65, when most people’s earnings end, this suddenly becomes a crisis. Probably no more than one in fifty people are financially independent at this point in their lives. The rest must either continue to work or attempt to survive on a pension, social security, which, by the way, may not be there for those people who are now, as of this writing 55 years of age and under, or charity. In most cases, this income is not enough to allow them to enjoy a comfortable life style.
Some people say they are above worrying about money, that there are more important things. But life does not allow you to simply choose to be above the concern for money. It takes money to live and a shortage of money will invariably cause you suffering regardless of your philosophical outlook toward it. The majority of Americans simply assume that at retirement age the company they have worked for or the government will take care of them. Most are aware that they will have to lower their standards of living. But they tell themselves that at this point in their lives they will have simpler needs. The realities of retirement often come as a shock. Why do so many people fail to retire with financial dignity after 40 years of hard, steady work?
The major reason is almost too simple: they have never seriously tried to obtain financial security for themselves. In other words, they have failed economically mainly because they have never really tried not to fail. Another reason is simple ignorance, which includes a failure to understand what money really is, what is required for financial security and how economic security can be obtained. There are too many stories of people who have lost money needlessly because of ignorance either their own ignorance or the ignorance of investment counselors they have hired to advise them. Also, many people who thought they were taking steps to secure their financial future were falling victim to the promotions of charlatans who promised financial success but only planned to line their own pockets at the expense of those who trusted their money to them.
The saddest thing about all this is that they are totally unnecessary; unnecessary, because anyone of average intelligence can become financially independent. It’s really not hard to do. It can even be done at whatever pace you care to set. It can be done in a matter of months through an aggressive all-out pursuit, or it can be done leisurely on a safe, sure course over a period of years. What’s more, it can be done without working hard, without putting in long hours and without doing anything that is either difficult or unpleasant.
Achieving economic success is not a matter of luck or inborn instinct. It is a skill, a technique that can be taught. If you have the will to succeed if you will choose to take intelligent steps to guarantee your financial future, then you can be taught how to become financially independent.
There will be more on this topic on lesson form to help all of the bro’s out there who think like winners.