I was facilitating a Mastery Evening last night for Inner Circle members in Calgary called The 3 Steps to Financial Freedom. It was a fascinating evening. One of the activities was for participants to write their definition of Financial Freedom.
The most powerful theme in the room was this. Financial Freedom for this group was “the absence of worry or stress” related to money. Now I “get” that desire, but that definition also creates a series of issues that generally makes financial freedom impossible for those that hold that definition. The truth is that worry and stress about money often has little or nothing to do with our income, net worth, recurring income or bank balance. It is more about us, our beliefs about money and how we bring ourselves to our financial world.
A Measurable Definition of Financial Freedom
Financial freedom is when our passive or recurring income is greater than our expenses. It is at that moment that we have the REAL choice when we get up in the morning of “What do I want to do today?”
This definition taken from Robert Kiyosaki author of Rich Dad Poor Dad is not that sexy, it does not address the feelings or emotions of financial freedom, but it does give us a very operational, and measurable definition that is objective and above all attainable for ALL of us.
Of course there are issues to overcome to become financially free, but at its core there are really only 3 fundamental steps they are as follows:
- Commit to FINANCIAL FREEDOM!
- Educate yourself
- Consciously choose your lifestyle/expenses!
- Become a conscious consumer
- Become a creator of value (get on the right side of the cash register)
3. Consciously scale your freedom!
- This means that you scale your lifestyle AFTER you increase your passive recurring income. Because attaining financial freedom is often easier than maintaining it…a bit like a reaching your goal weight in a weight loss program.
We at Personal Best have deemed March to be Financial Freedom month, and as such we have created a ton of events to support you to claim your financial freedom.
One of the coolest is “Vision to Wealth” coming up March 15th at Cardel Theater in Calgary. We are bringing Venture capitalist, business coach and trainer Bill Walsh from Chicago. If you are building a business, if you are committed to being financially free then you must attend.
Visit here more about Bill and his company Powerteam International
Call or email the office 403-269-2378 to reserve your seat in this outstanding FREE event.
I will be writing more about the 3 steps all month long, I welcome your comments and feedback. I am passionate about this topic and believe that we all deserve to be financially free and that we can create it.
Jay
