Financial Freedom Is The Ultimate Goal
There’s a lot of different financial goals you can set for yourself. I want to talk about why I think financial freedom is THE ultimate goal and a great goal to have.
0:00 – Introduction
0:48 – Financial Freedom is a defining point
1:25 – What is financial freedom?
2:20 – Why is this the ultimate goal?
4:52 – Financial freedom is a milestone
7:43 – Financial freedom takes all the risk away
10:45 – Financial freedom is a safe net
12:35 – What is your ultimate goal?
there’s a lot of different financial goals that you can set for yourself you can try to have a certain amount of money in your bank account maybe a certain amount of money in equity in your properties or maybe you could look at cash flow and look at being financially free in this video i want to talk about why i think financial freedom is the ultimate goal and why i think it’s a really
financial goal to have hey and welcome to the step this is my absolute favorite place to hang out in the morning and get the morning sun and drink my coffee it’s a bit chilly this morning that wind is a bit cold my feet are freezing now i’m not an advisor so don’t take this as financial advice obviously make your own decisions speak to professional if you want to but for me financial freedom is the pinnacle and i i don’t necessarily think it’s a place that you stop you don’t set a financial goal achieve financial freedom and stop but it’s a really defining moment and it’s a really defining point that you get to that just opens up the world to quite significantly so in today’s video i want to talk about why i think financial freedom is the ultimate goal and then you can decide for yourself whether or not you think this is a goal worth pursuing for you and whatever strategy you use to get there so financial freedom let’s just talk about what it is first so we’re all on the same page there and that’s just having enough cash flow coming in in a passive way that you don’t need to work anymore that your expenses are covered so you’ve got a roof over your head you can afford food you can afford health insurance you can send your kids to the schools that you want and you can do the things that you want in your life you may not have the best car in the driveway i certainly don’t you may not go on the most lavish holidays but it’s like that good level you know i’ve got a decent car that i’m happy with i get to go on holidays with my kids that i love when when we’re not on lockdown but that sort of level where it’s like you are you are living a good life but you don’t have to worry about money so that’s kind of what i mean when i say financial freedom and the reason that i think this is such an ultimate goal is just the choices that it gives you with what you want to do with your life but also who you want to be as a person as well and so when you reach a point of financial freedom so at the age of 28 i had what i call pseudo financial freedom so i didn’t online business that was pretty passive that was generating me decent income and i didn’t really need to work there was never going to be that long term financial freedom that you would get through something like property but i had time where i didn’t have to work for a couple of years so i got a little taste of what financial freedom might look like and what it might be and just getting those choices to do what you want with your time is super powerful and at the time i had no idea what i wanted to do with my time i actually entered a period of depression which i’d struggled with on and off throughout the years but not having that goal and not having that thing i was striving towards i was like i’m not happy why do i keep working but it gave me the choice as a time to pursue things that i wanted to explore so it gave me the choices to you know i pursued gaming for a while i did a lot of running i did a lot of surfing spend a lot of time with my kids and my wife which was really good explored relationships and stuff like that and friendships and so i got a chance to really do that sort of stuff without the pressures of having to work and without the pressures of i don’t know how my bills are going to be paid and so having those choices to kind of work out okay what do i want to do what do i want to explore is really powerful and that’s why i think it’s such a good goal is that when you get there you have those choices even on the way if you’re following the two year strategy that mean ben everingham talking about i’ll link up to that in the description down below but in that strategy you build up a foundation of properties that will give you financial freedom in the future and then you get to make these choices straightaway so you don’t need to make wait till financial freedom anyway but you get those choices which gives you the ability to explore who you are and explore your happiness and that’s not something that we’re really trained to do it’s not something that we’re really encouraged to do throughout life it’s more just about like getting through you know making enough money to survive and enjoying your life in the process but you don’t really get that time to really think about who am i and what i want to do and you also have the ability when you’re financially free the reason i think it’s such a good goal i think it’s a really good milestone and i think it’s necessarily the end goal but i think it’s a monster that you get to you don’t have to work anymore and so you don’t have to work in a job that you don’t want and then that just takes all the risk away right because if you’re thinking okay i want to change career paths but currently this is a great one
i went to a wedding of a friend of mine in new zealand i met him when i was in high school at space camp that’s right i wanted to be an astronaut at the time so i went to space camp to learn about that industry realized pretty quickly that i’m not like that engineer minded so probably won’t end up being an astronaut unless i become extremely wealthy but yeah went to space camp met this guy on space camp and we just clicked and got on really well apparently we look alike and people think we’re brothers anyway we stayed in touch over the years i went to his wedding in new zealand because he’s from new zealand and he is now a doctor he his spouse is a doctor and like all the friends at the wedding were all doctors right they’d all met in med school and stuff like that and so i was sitting at a table with all doctors i stayed in a house will help with all doctors and got to speak to a lot of them and there was a really mixed group in there some of them loved what they did and not the specialty they were in and some of them just like hated it no joke just like dreaded their work and dreaded their life and but they’d spent 10 years getting to this point to be a doctor they’re on good coin earning you know 300 $400,000 per year that’s like oh like you can’t you can’t earn that in another career right so for them to say i want to do a different career there’s a lot of risks associated with that dropping income for one and especially if you go back and study and you can’t work while you’re studying then there’s a huge drop in income and so there’s huge risks with that which means as you go throughout your life most people aren’t going to take that risk most people aren’t going to do that and obviously doctors extreme earning that much money is extreme but us regular people earning regular wages it’s still the same sort of thing you step out of something that you specialize in or that you’ve climbed the corporate ladder in to go back to school then you’re going to see a drop in that income and most of us can’t make the decision to take that because we need that money coming in to support our lives or support our kids or to get by we don’t want to move into a house with a random person rent a room so we’re kind of limited in our choices there but if you’re financially free takes all that risk away because you’re set up you set up for life you’ve got that income you don’t need the income from your work anymore if you get it great but if you don’t that’s fine and so you now have the ability to pursue work that you feel passionate about and that could be pursuing a new career path or it could be starting a project or starting your own business or something like that but it gives you that ability to do that and that is going to be part of your ability to build wealth moving forward but building it in a very conscious way in a way that you’re not just you’re not building it for an end goal of being rich because that’s what’s gonna make you happy you’ve already got financial freedom you’ve already got the choices you’re working out who you are and what makes you happy in this moment but you still want to build your wealth you still want to have a better life than you have now you still want to leave more for your children if you have children you may not or you know do better things with your partners you still want that and so still working passionately that is part of your process towards building wealth and building more wealth in your life and even the skills that you learn on your way to financial freedom so let’s say you’re doing the two year strategy investing in two properties in order to achieve that baseline financial freedom you’re going to build up skills in that time period of investing in property choosing the right markets choosing the right property buying under market value buying something where you can manufacture growth adding cash flow through a granny flat there’s all these skills and experiences you build up along the way that you can then once you’re financially free you can then replicate that again with a lot less risk so if you’ve got your foundation that’s generating you your income investing on top of that with money extra money that you’ve saved there’s not a huge deal of risk there and you can really start to grow your wealth quite significantly by rinsing or repeating what you know works and what you’ve learnt from experience so financial freedom i think is a great milestone goal i don’t think it’s the ultimate end goal i don’t think that when you reach financial freedom you’re going to be happy instantly not a pot of gold at the end of the rainbow which i found out the hard way but it’s a great milestone goal and it’s a great thing to aim towards and then once you reach it then you just get so many choices in your life as to how you want to spend your time what career path you want to go down what work you want to pursue what types of relationships you want to have where you want to live as well you can relocate maybe you don’t like the cold winter mornings in sydney
but i don’t okay like them i much prefer the warm weather in queensland but maybe you’re like that and you’re like okay well i don’t want to stay in this area i want to move and if you’re financially free and you got passive income coming in you can because your incomes aren’t tied to a location and so you get so many choices there in your life of what you want to pursue and so it opens up so many doors and while those doors are technically open always and that’s something we’ll be talking more about on this channel moving forward is just that journey towards financial freedom and enjoying that and loving that and while those doors are technically open and you could pursue them in any time when there’s risk involved and you’ve got to have a drop of income and you don’t know whether you’re going to get a new job or not if you move to a new area whether there’s all these risks and unknowns while technically we could still do it and we’ll probably be fine a lot of us won’t because it’s just too scary and it’s too hard and so when we have financial freedom and you take that risk away it’s almost like putting a safety net under yourself just try things i could just try things i remember i tried to pursue gaming and being a professional gamer that didn’t work out there was too much work and not enough return and my hands hurt and i had kids and just not enough for that lifestyle i tried to pursue ultra marathon running and got injured but i have a safety net under me i tried to pursue them they failed oh well life goes on i tried something i explored something and the safety net of financial freedom was there to catch me and to carry me through and i’m excited to get to that place again i’m not there right now but it’s such a worthy goal and it’s such a good place to be in i remember being in it was such a good place where you just don’t have to wait you don’t have to stress about money you don’t have to stress about what you do with your time if you want to work and build your wealth you can’t if you want to go to the beach hang out with friends you can’t so i think financial freedom is the ultimate goal its ultimate goal for me what you decide is your financial goal is ultimately up to you this is not financial advice i’m not saying you should definitely have this goal for your life but think about it think about whether or not financial freedom could be good for you could it give you those choices could it give you the opportunity to explore new career paths or to explore your own happiness and for me achieving financial freedom was a big like i went internal and explored my internal happiness and okay who am i who is ryan because i think i’ve been living my life up to this point up to that point you know just with the focus on earning money and not so much focused on like okay who am i and yeah it took a lot to discover who i was and a lot of time and i’m still on that journey i’m not normal so there’s no way there’s no roadmap for me really i gotta work all this out on myself with the great people around me but yeah so i mean financial freedom is a great goal to have it’s definitely my goal now i want the long term financial freedom that comes through property so short term i want financial freedom through my business but then rather than stopping like i did at 28 i’ll keep working and i’ll use the extra money to invest in property i’m going to be doing the two year strategy hopefully starting next year investing in property building granny flats having that foundation and then just paying off debt i probably wouldn’t stop it two properties i’d probably like to go to maybe four or five properties with five granny flats that’d be pretty cool so i’ll be on that journey but i want that long i want that long term security i think having financial freedom and then losing it has kind of showed me that i want that long term security and property is such a great way to do that compared to business because it just kind of sits there and exists you obviously have to maintain it but it just doesn’t seem so i will link up to the two year strategy if you want to learn more about that in the description down below you can also
if you’re in a position where you’re looking to invest and you’re looking to actually move towards that financial freedom and you’re looking to build up your property portfolio but you don’t know exactly where to invest or what strategy works for you then ben and the team over at pumped on property do offer free strategy sessions so if you go to onproperty com au forward slash strategy you can All About that over there. If you click the link, you can book in a time that suits you. There’s a calendar there, where you can pick a time to get on the phone with one of the team to talk about exactly where you’re at, where you think you want to go. And okay, what steps do you need to take to get there, get that roadmap, set out for yourself, and so that you can start moving towards that financial freedom or moving towards your property investment goals. So, again, that’s onproperty.com.au forward slash strategy. If you want to learn more about that, and booking a time that suits you. So many people have been helped through those free strategy sessions. So I thank Ben Simon and the team over there for all the hard work they do in giving those out. Definitely, really worthwhile. So yeah, go ahead, check those out. Otherwise, go ahead and check out the video on the two year strategy about how you can actually set yourself up for financial freedom in as little as two years through property investing. So go ahead and check that out. Otherwise, I’m going to finish my coffee. Enjoy the sun going for a run today and the National Park which should be good. Until next time, stay positive