Is Financial Independence Truly Achievable?

The Motivation & Aim Of Many

People spend the majority of their lives working, as well as preparing for the working world. School and study years are primarily a time of preparation. In essence, the first 60 to 65 years of a person’s life are dedicated to a career. However, for many, it’s more of a job than a career. They simply do what they must, in order to keep a roof over their head.

This is the reality for much of society. Whether it is realized or even vocalized, financial independence is a desire very common to mankind. Financial independence doesn’t necessarily mean that a person stops working. What it does however mean is that there is freedom of choice. When one’s financial obligations are “taken care” of, slavery no longer exists.

In other words, a person can continue on in their job if they enjoy it, why not? On the other hand, they could choose to do something completely different. Decisions are now no longer based on need, but rather a choice. Many feel trapped in an area of employment they wish they could escape. The reality is… they can… provided they have a level of financial independence.

And so begins the journey of financial independence. A journey many dreams of, but so few travel. The reason: It’s a difficult path! It requires going above and beyond. After all, doing just enough to get by is precisely the problem. The mindset needs to shift into an “understanding” of abundance, as opposed to being wage focused.

For many, this journey involves creating passive income streams or taking on a side hustle. At the end of the day, the prerogative remains the same: Create an alternative income… outside of traditional employment. Honestly, it is not really that difficult for one to attain a level of income outside of one’s traditional employment.

Where The Challenge Truly Lies

Crypto offers a plethora of income-generating ideas, and with a dedicated effort, can become a source of financial independence. Eventually, many are able to replace their income via a number of investments or side hustles that require little to no time. Ideally, one would want to grow this income to the point where it actually exceeds salaried income. This is always a good move, in my opinion.

What I have seen is that given time and effort, one can become independent of one’s 9 to 5. However, the core issue is not necessarily whether one can achieve it, but rather, whether one can maintain it. This is where the challenge lies. Additional income, for many, also brings about additional spending. This often leads to “squandering” and vanity.

This, I believe, is even more of a challenge than actually acquiring financial independence. People tend to adjust their lifestyles when there is excess, as opposed to making additional investments and practicing frugality. So, yes, I believe financial freedom is attainable, even for many. However, maintaining it is another story.

Even if a person goes on to structure and build the freedom they envision, unless it is accompanied by discipline and frugality, it is likely to be lost over time. A large percentage of lottery winners eventually end up bankrupt. Essentially, they had more than enough to survive on, and yet…

Final Thoughts

When you examine any form of success, accomplishment, or achievement, you will find that those who realize and sustain their victories, do so in a very predictable way. These individuals, not only have a very specific group of qualities and attributes, but they are disciplined to continue exercising them, regardless of the situation.

You just can’t escape the dynamic of “doing things right”. Shortcuts don’t work! In essence, character secures and maintains victories. This, I believe is why many never enjoy financial independence: They are only dedicated to the plan, and not their character. The two go hand in hand.

Many things in life operate via a form of synergy. Remove one aspect of the equation, and the process breaks down. Let’s keep that synergy going, and keep working toward our goals! All the best, see you next time!

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