How Do You Know You're on the Right Path to Financial Freedom?
February 08, 2017
Almost every American dreams of the day when they can wake up and make the choice to not work anymore but how do you know what it takes to get there?
Have you heard the term “what is your financial number?”, this is a number that determines what you need for retirement. What’s important to know is that this number is not static, simply, because your life is not static. Your life is constantly changing, whether it be due to a raise, a change of job or whatever other major life change occurs, all of these events will adjust your “number”.
Setting yourself on a path to financial freedom essentially encompasses a plan and steps to ensuring you reach that number, along with any other goals you’ve established. So how do you know if you’re on the path to financial freedom? First step – are you organized? With a single click of a button can you visualize and know exactly what’s going on with your financial life? For a lot of people, the answer is no. Organization is critical and a must, if you want to understand how to achieve financial freedom. Imagine you’re preparing to run a race however, you don’t know where the start line is and you’re not even sure of the route. You know you’re supposed to be running, you just don’t know where to. Knowing where to start your race, your financial plan, you can then begin to run your race and follow the route that has been laid out.
A sense of fear or intimidation might raise its ugly head when you start to question whether you’re on the right road to financial freedom. It is very common for people to quickly assume they don’t have enough money to seek the advice of an advisor where in fact anyone and everyone can benefit from seeking financial advice. You don’t need to have a high income, excess cash, or a vast array of assets – whatever your financial status, an advisor can formulate a plan and ensure you are in fact on the path to financial freedom. With the right advisor, any sense of fear or intimidation will quickly dissolve if they are a true fit. Your advisor is the person who will coach you and guide the way to following the right path for you to reach financial freedom.
Every American wants that day where they wake up and they don’t have to go to work anymore. The problem, they don’t know how to get there, or maybe they’re doing ok but not sure, perhaps they lack organization. This is an easy fix. Just as you would for fitness, you hire a personal trainer. By applying the same method to your finances as you would your health, you’ll soon find that you’re on the right road to financial freedom.