03 Jul Financial Freedom Isn’t Just About Houses and Vacations

This week, we are celebrating one thing as Americans. Freedom. As I’ve pondered writing this blog, I’ve been personally convicted of how much I take this word for granted.

We need to think BIGGER. Most people reading this blog (myself included) have a poor perspective on what “freedom” is because we’ve grown up in it. If you are one of my readers or social media followers you are probably from the USA, UK, Australia, India, and parts of Central and South America.

If you are reading this blog, then CONGRATULATIONS! You don’t realize how big of a deal is that, do you? You can access whatever information you desire with a few clicks!

You know whose not reading this? Anyone in China. I get zero traffic from there. North Korea? Forget about it. Venezuela? They’re not worried about financial freedom. They’re trying to survive the corrupt government that is starving its own people and has taken a prosperous, oil-rich country to the brink of poverty and has made its currency worth zero to the rest of the world. The locals use their cash as toilet paper now. Seriously.

The Price of Freedom

Did you ever see the movie Braveheart? It’s a story loosely tied to William Wallace, a famous Scotsman who helped lead the uprising of the Scots against the English. In one of the most iconic movie moments in cinematic history (spoiler alert!, I normally don’t do these but it’s been out like 30 years so I think we’re okay at this point), Wallace is being tortured in front of a crowd for defying the English king.

With his dying breath, he could’ve begged for the pain to stop and be given a swift death. Instead, with his last breath, he yells “FREEEEEDDDOOOMMM!”.

The crowd that was against him turns their attitudes for pleas of mercy which the executor graciously delivers as he lets his axe fall.

I got goosebumps just writing it out and remembering the scene. The passion. The desire. It’s an infectious scene. Wherever you live, if you live in a democracy, then men and women died for your freedoms that you enjoy today and it’s probably all we’ve ever known.

Unless you have been to one of these restrictive countries, it’s hard to imagine. We cry about “freedoms” that are being taken from us on the political stage because we have in-party fighting, but its NOTHING like what others experience.

I was in China last year. A friend received a text from their kids back in the States. The text said “How is the censorship over there?”

My friend could no longer use their phone immediately. The Great Firewall of China had locked down their phone. If that person had been a Chinese citizen, I doubt they would’ve slept that night for fear of the police.

I was in Haiti the year before. We had to wake up in the darkness to ensure we made it to the airport before the sun came up even though our plane didn’t take off until 1pm. Why? There were planned riots in the street that day to oppose the government which steals international aid sent to feed and shelter their people. We arrived as the sun came up and already they had started burning tires and organizing their crowds.

Freedom is expensive. Freedom is hard to achieve. Freedom takes guts and sacrifice. Freedom is a contradiction. Because once you have it, the level of responsibility that falls on you can be terrifying at times.

So what does all of this have to do with financial freedom? Coming from someone who went from $265,000 in debt to now living financial independence, let me explain.

Why financial freedom should be your top priority now

The moment my wife and I paid off our final loan payment on December 31, 2017, I felt…not that different. We celebrated with a bottle of champagne (that I sloppily sprayed into my wife’s eyes and on our laptop and young boy).

It was two weeks later when I recieved our first round of paychecks that things began to feel very different. I was so used to taking our surplus and dumping thousands of dollars onto debt. But this time, I had no debt to dump it on. It was just there…in my bank account…mine…ours.

In that moment, I felt like I had been carrying a 100lb rucksack around for years and I had just taken it off. I was lighter. Happier. Less stressed. And then, I began dreaming. I thought about the future and what we could start to build. Now, I had been thinking about this part for years and planning out our investment strategy for a while, but now IT WAS REAL. It was happening. I was building wealth and on the next part of my journey to financial independence.

So why should financial freedom be your top priority? If the above isn’t enough reasons, then here’s a few more:

• Better marriage – the number one reason for divorce is financial hardship
• Health benefits – less stress, ability to spend money on health, and its not an accident that there is a direct correlation between health and wealth
• Epic vacations – if you were paying just $1000/month to debt on top of your minimum payments, when you finished paying it off, you could save that money for 5-6 months and you could afford to get a plane ticket and stay at this place in Fiji for a few days!
• Build wealth – have the ability to take care of you and your family

I can’t think of many more reasons that I would need to motivate someone reading this to move getting out of debt to the top of their “to-do list”. If that didn’t do it, then you need to seriously check yourself and ask WHY you are happy living below your potential.

Financial freedom is terrifying and exciting

I see people constantly make this mistake. They spend years focused on getting out of debt. They use all their energy and tunnel vision to achieve that final goal and then…they do it!

Well as the saying goes, be careful what you wish for because you just might get it.

So what happens after you’ve made that last debt payment? A lot of people never get that part. Like I mentioned earlier, getting out of debt is simple. Your plan is essentially laid out for you. But when you have to start investing, the world is literally full of unlimited options and they all terrifying to those who have not taken the time to educate themselves or prepare an investment plan.

You can invest in literally anything…

• index funds
• dividend kings
• cryptocurrency
• real estate
• real estate investment trusts
• startups
• your own business
• breeding and raising race horses
• sports memorabilia
• art
• vintage cars
• and the list goes on…

I’m not going to lie…I LOVE investing. It’s so exciting. But it can be scary. You WILL lose money at some point when you invest. Even the professionals do but the goal is to be smart and win more than you lose. And the reality is, in proven investments like the stock market and real estate, most people do really well as long as they stay true to proven practices (like buying and holding good companies or land for long periods of time).

So don’t get caught like a deer in the headlights on the day of becoming debt free! Have a plan. I definitely recommend talking to a professional but you need to own part of your financial success. Research something you enjoy that you can invest in.

Freedom is the best. It really is but there is a saying that I heard recently that I have on the back of my phone so I don’t forget it.

New levels equal new devils.

And being debt free is definitely a new level so be prepared for the devils that come with it, but they’re so much better than the devils that come at you when your burdened with debt. I want that for you…the next step is you need to want it for you enough to take action!

There is ZERO reasons to not strive for financial freedom. So if it’s not your top goal, ask yourself why that is. So in the words of our founding father, George Washington, I leave you with this quote.

“It is better to offer no excuse than a bad one.”

Happy Independence Day.