Monday, November 14, 2016

Journey to financial freedom

FINANCIAL freedom is something many of us aspire to: the ability to never worry about money, have the option to quit your job without repercussions, or retire early and spend your time doing what you truly love, instead of doing what pays the bills.
But how far are you on the road to financial freedom? Knowing where you stand can help you figure out where to go and make your aspirations clearer.

Here are the different stages that I consider useful when I think about financial freedom.

TEH : I think I m in the FINANCIAL STABLITY stage now ... so, I will still have to acquire more wealth to move ahead.

Stage 3: Financial stability. In the previous stage, you are still financially vulnerable for any unforeseen event; a car that breaks down, unemployment or a serious illness. In order to be financially stable, you will need to have a financial buffer that can withstand these shocks without significant impact on your lifestyle.

For example, you have savings that can cover 6 months of your monthly living expenses. You want to attain this stage because you want peace of mind.

This will remind me to word harder ... and be financially free.

Start young for those young ones ... increase your financial knowledge. I started way too late ... at age 40 (with zero knowledge on financial/money)


No comments: