Money may or may not buy happiness, but it can definitely buy you Freedom.
Freedom means manythings to many people, but one i like is You Own Your Time. No obligation to anyone, and the courage to say “No” to somethong you prefer not to do. Do the things you love. Chores that you dont can be outsourced easily, adding to your kitty of time.
Here is a quick list of 5 things that matter, to secure and retain your financial freedom.
1. Avoid Debt:
Instead of paying yourself first, you are paying someone else. You are receding faster form freedom than you can imagine.
2. Avoid ‘Free’ Advice:
There is almost nothing free in this world. Same goes for advice from Bankers, Agents, Wealth Managers and Advisors, who want you to invest or buy their product. Losing 40% or more of potential wealth to the ‘industry’ is something to avoid.
Start small with a simple investment in a direct plan mutual fund. Or switch 10% of a folio to direct plans, to get a taste of this freedom.
3. Avoid Tenancy:
Own things that generate income. This could be stocks or mutual funds that earn dividend income. That way, you own a piece of business, rather than Just A Consumer. Don’t get JAC’ed 🙂
4. Avoid Greed:
Don’t expect outsized returns year after year. The markets have a seen one of the longest bull runs till Aug 2018. Time to temper your expectations and stick to your preferred asset allocation.
5. Avoid Schedules:
A free person is not a slave to a schedule. Your investing too is automated through SIPs and apps. That leave more time fo ryou to enjoy your freedom!
