wealth secrets

Wealth Secrets – The Answers to your Financial Struggles

What do most people believe is the answer – the wealth secrets – to solving their financial struggles?  More money, of course.  But will more money really solve your financial problems?  Temporarily, maybe.  But long term no.  (Read my post on “More Money Is Not The Solution, This Is” to learn more)

Is a job the solution to your financial struggles?  No, not really.  A job is simply a short-term solution to a long-term problem.

wealth secretsHere’s the problem: In order to survive and live a happy, comfortable and enjoyable life, there are certain things you need to have.  At the top of the list are shelter, food/water, clothing, and transportation.  Of course you can add many more things to that list, but I think you get my point.  And there’s a price for each of those things which must be paid on a regular basis.  Most people have been taught that if you just follow the system, go to school, get good grades, and get a high paying job that you’ll be set for life and be able to do all the things you need to do.

But today as the world transitions more and more into the Information Age, the huge flaws and gaps in the system are obvious.  We were sold on the fact that if you got that high paying job with good benefits and that if you were a good hard-working employee for 40 years you could retire (ie, stop working) and be able to enjoy the rest of your life in some level of comfort without having to worry about bills or expenses and just travel or relax, right?

Unfortunately today, that’s not the reality most people are experiencing.  But still, most people will choose (perceived) security over freedom. The allure of a regular paycheck and benefits on the front end is much easier, enjoyable, certain, etc than choosing the path of financial freedom, than choosing what option is better for the long-term.

A job may help you earn some money now to pay your bills now, but also keep in mind that that you have to keep going to back to work in order to keep paying your bills.  So while it may be comfortable in the beginning, while you may enjoy what you do, while you may be good at it, it will not solve the problem of keeping your bills paid unless you continue to keep working (and your expenses don’t increase).

Wealth Secrets – Financial Security versus Financial Freedom

Freedom is the exact opposite of security.  You must choose which value is more important to you.

The fact is freedom takes work, it looks difficult, uncertain even… at first (the epitome of delayed gratification).  The hard part is in the beginning, getting something started, turning nothing into something.  But for a job, it’s easy… in the beginning.  Just show up at this time, do this for so many hours and we’ll pay you for the time you put in.  You work 1 day, they pay you for one day.  Easy right?

But how easy is that J.O.B. after 10 or 20 years, when the cost of living goes up higher than any salary adjustments you might get?  How easy is it when you’re tired and worn out and need a longer vacation, more time with your kids, to volunteer, to socialize and network or just to rest?  The real problem is that after so many years most people become so attached to that paycheck, so reliant on it that they cannot or will not do anything else, unless forced to because of downsizing, the business going under, etc.  That is what’s really tough – emotionally, psychologically, spiritually…

Financial freedom on the other hand while it may not be as alluring on the front end to have to expand your financial education, increase your financial intelligence, obtain more skills, use your initiative, think outside the box and get working on something you won’t be able to predict how much time it will take or how much income you’ll create in the beginning, the end result is more than worth it:

  • Complete and utter freedom from a boss, an employer, your bills, your schedule, any demands on you financially.  No more dependence, reliance or servitude.
  • You’re in control, doing what you want, where you want, with who you want, when you want to do it without having to worry about how the bills are going to be paid.
  • Sleep all day, vacation for a week, travel across the country, start another business, add another income stream, develop your own wealth secrets.
  • Financial freedom gives you the options and possibilities you’d never have trading your time for a paycheck.  No more having to trade any of your time, you now own it!
  • Financial freedom is a result of the income from your assets exceeding the cost of your monthly expenses without you having to work to produce that income (ie, a residual income business).

Wealth secrets – the long-term solution to your financial struggles

Make the choice to choose freedom over security.  Job security is a thing of the past.  Today we are all now having to pay for a dysfunctional system that for many years promised security which was unsustainable as evidenced by the massive amount of national debt piling up astronomically higher and higher into the hundreds of trillions of dollars in unfunded liabilities.  Benefits will continue to be cut, the so-called retirement age will be pushed back further and further, and inflation will continue to further increase the cost of living.  In the end, the only real choice is to choose freedom, because when you reach financial freedom, ironically you achieve financial security in the process.

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One Comment

  • Peter Fuller MBA says:

    Excellent post Hans

    Most people are going to have to work well past 65 to maintain their lifestyles, yet they do not want to do anything about it.

    I agree with you 100%.