Recently, I’ve been extremely thoughtful on a path forward to financial freedom. As in how does that truly happen. The anxiety for me has been around “there will never be enough” or how could I possibly reach what I believe is enough. But there in lies the answer. Define enough and the path begins. I read an insightful read “Your Money or Your Life” and there’s a ton of dialogue around changing your thoughts and habits, spending less, lowering your expenses. While I believe this is necessary and true, I also have a personal belief of knowing the type of things I like and want to spend money on. I have a desire to have a life of luxury. That means fine dining, indulgent travel, an immaculate home with all the bells and whistles. And that’s not for everyone. And I get it. But it is for me.
My enough is a very heathy number but for now and for the next 10 years, I’m focused on true financial freedom which is defined by your income (dividends, royalties, rental income, etc) being more than your expenses (shelter, food, utilities and other necessities) without actively being on someones job. My how encompasses increasing my income, paying off all credit card debt, and saving money to stash in several categories: retirement plans (my employer and my own), stock market, high yield savings accounts, and real estate. I’ve decided that real estate is the path I will work on the most aggressively as I’ve seen the proof of this method withstanding the test of time, even with markets that go up and down, I believe this avenue affords me two things: long term revenue and the ability to do something I actually enjoy, interior design. With this comes many paths, real estate encompasses all types of ways to be involved, from house hacking (living somewhere and renting out part of the space to others), flipping homes, rehab and then renting, purchasing turnkey rentals, short or long term rentals, wholesaling, and the list goes on and on.
As of today, I’m looking for a new job – a higher paying job that is. But also with that, a job in a location I feel provides me the best well rounded experience (good schools, family/friends, etc.). Finding a new job in a new location also means finding a new place to lay me and my daughters heads. Aiming to make the next move the best move knowing every action I take is either moving me closer to or causing a delay to my goal of financial freedom – my goal of enough.
I hope you know your own enough. It’s more than a number, it’s your lifestyle, it’s what makes you feel joy and peace. Leave me comments and let me know how you’ve identified your enough and how you’re taking action on it today.
Yours Truly,
Crystal