Five Cents Ten Cents

Three key benefits of financial freedom

Posted: 14 Apr 2008 09:18 AM CDT

Flickr photo by Hamed Saber.

What’s the point in investing

I was referred to this post “What’s the Point of Investing?” By Dr. Steve Sjuggerud (http://www.dailywealth.com/ ) in Shareinvestor.com forum and I think it captures the essence of WHY we want to strive to be financially free.

When you are financially free or moving close to your target, you are in a strong positive net worth position where you have money. The benefits as mentioned by Jonathan Clements, a respected columnist for the Wall Street Journal:

1. If you have money, you don’t have to worry about it.
2. Money can give you the freedom to pursue your passions.
3. Money can buy you time with friends and family.

Financial freedom is not for us to show off to others than we have “made it”. Rather, it frees us to enjoy other things in life such as relationships, passions and what gets us going in the mornings without having to worry about how we are going to put bread on the table.

It is the opening up of options in life that really comes when you are not a slave to spending and living beyond your means. It is the realisation that you cannot bring all the “stuff” we have acquired in our lives with us into the next world. It is the realisation that it is people and not things that truly satisfy.

What are your own benefits of achieving financial freedom?

What do you see yourself doing if you didn’t have to work for a living?

Be well and prosper.