Why aspire for financial freedom?

Wonder what your life would be like if you did not have to work for money? We think it’s a very relevant question that merits your attention. In this webinar, recorded on Dec 17, 2022 we discuss this all important question - Why aspire for financial freedom?

We hope you enjoy the webinar and find it useful in your journey.

Video Summary: Why Aspire for Financial Freedom?

What is Financial Freedom?

• Definition: A state where you don’t have to actively work for money; passive income supports your chosen lifestyle.
• Key Points:
  • There’s no single definition-it's personal and flexible.
  • Financial freedom and financial independence are used interchangeably.
  • Passive income can range from portfolio investments to rental properties; it’s a spectrum.
  • Lifestyle choice is central; you define what’s “enough” for you.

What Financial Freedom is NOT

• ‍Not the same as retirement: You may still choose to work, start new projects, or take breaks.‍
• Not about being “rich”: It’s about having enough for your chosen lifestyle, not necessarily wealth in the traditional sense.‍
• Not about being less productive: Many become more engaged and proactive after achieving financial freedom.

Reasons to Aspire for Financial Freedom

1. The Cost of Earning Money

• Opportunity Cost: Time at work is time not spent on personal growth, family, or passions.
• Direct Costs: Expenses like commuting, childcare, and health costs related to work stress.

2. Work Engagement & Happiness

• Most people are not engaged or happy at work; only 1 in 5 are truly engaged.
• Lack of fulfillment at work can impact other areas of life and overall happiness.

3. Societal Norms vs. Personal Choice

• Modern work culture often dictates identity and lifestyle.
• Financial freedom allows you to design your life intentionally, rather than following societal expectations by default.

4. If You’ve “Already Won the Game”

• For those who have accumulated enough wealth, it’s important to recognize when you can stop accumulating and start enjoying life.

5. Time is More Valuable than Money

• The ultimate reason: Time is irreplaceable.
• Regrets at end of life often center around not living true to oneself, working too hard, and not spending enough time with loved ones.
• Financial freedom is about gifting yourself time to pursue what matters most.

The Journey to Financial Freedom

• It’s a personal journey; you define the milestones and the end goal.
• Reflection and self-awareness are key-knowing what you truly want from life.

Reflection Exercise

• The video encourages viewers to reflect on:
  • What does financial freedom mean to you?
  • What are you sacrificing for work?
  • How much of your life have you actively chosen versus followed by default?

Closing Thoughts

• Financial freedom is about choice, autonomy, and living a life aligned with your values.
• It’s not about escaping work, but about having the freedom to choose how you spend your time.

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Disclaimer: The content of this webinar is not meant to be specific individualized advice. Please consult your advisor or tax professional on your specific situation.