Financial freedom means different things to different people depending on your goals and lifestyle. But no matter what your definition of financial freedom is, there are 4 very good reasons why everyone should strive to achieve it as soon as they possibly can.
4 reasons to strive for financial freedom
1. It gives you independence and more choices
Achieving financial freedom gives you financial independence. And as financial guru Robert Kiyosaki once said: “Financial independence is about having more choices.”
Financial freedom and independence allow you to live life on your own terms. For example, it gives you the freedom to buy what you want confidently, pay for a good education for your kids (or grandkids), or pursue passions like travel, hobbies, or even starting a business. It also enables you to invest in your future to provide generational security for you and your loved ones.
In short, achieving financial freedom gives you much greater control over your life, standard of living and your future.
2. It gives you peace of mind
Achieving financial freedom is like having a security blanket. It enables you to live your life without the stress of money worries because you have a financial buffer if unexpected circumstances or bills arise.
3. The cost of living is rising and we’re living longer
We’ve all heard people express concerns about the increasing cost of living and how tough it’s been. Thanks to medical advances, most of us can expect to live much longer in retirement than previous generations did. According to the latest figures, the average life expectancy in Australia is now 81 for men and 85 for women, and increasing all the time.
All these factors make it more critical than ever before to achieve financial freedom and independence, ideally well before you reach retirement age. When you do, you won’t need to rely on the government (or anyone else) for any financial support once you stop working. You will also be able to retire earlier if you want to.
4. You have less time to achieve financial freedom than you think
Many individuals in their 30s and 40s may underestimate the proximity of retirement. However, as individuals approach middle age, they may come to realize that they are already halfway, or even further, through their prime income-earning years. It’s a powerful reminder of the limited time available to build financial security and prepare for retirement.
How to achieve financial freedom
1. Start investing blue-chip assets as soon as you can
The quickest way to achieve financial freedom is to invest in blue-chip assets as soon as possible. Blue-chip assets offer higher net returns over the long term.
Residential properties in strategic locations are excellent examples of blue-chip assets. They provide ongoing, above-average rental income and significant capital growth over time. What’s more, if you already own or have substantial equity in your home, you can utilise it as leverage to start building a high-quality investment property portfolio, which will set you on the fast track to attaining financial freedom.
2. Get expert advice
When it comes to property investments, making well-informed decisions and arranging suitable financing are crucial steps. Seasoned property investors understand the value of seeking guidance from experienced professionals to ensure that they make sound and beneficial choices.
3. Develop an investment strategy (and stick to it)!
There’s an old saying: ‘those who fail to plan, plan to fail.’ This is particularly relevant when it comes to property investment. Successful property investors work with their expert adviser to develop a solid investment strategy, adhere to it, and regularly review it in response to changes in market conditions, their financial situation, or their goals.”
The bottom line
Achieving financial freedom doesn’t have to be just a dream. Many Australians have achieved it by seeking good advice and implementing smart property investment strategies sooner rather than later.
Looking for property investment advice?
Financial freedom is closer than you think. As someone passionate about empowering Australians to build wealth through property, I’d be happy to help you map out your property investment roadmap.
Let’s start the conversation today. Email me at hello@safore.co or call 1300 697 767 to book a personalised consultation.
Looking forward to helping you achieve your goals.
