Plot Your Escape. Choose Financial Independence - The Humble Penny (2024)

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Plot Your Escape. Choose Financial Independence - The Humble Penny (1)

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Pause for a moment and imagine a Life of Freedom and Financial Independence.

What does that dream life look like? What are you doing with your time? How do you feel in that dream life?

Say it out loud to yourself. Yes, say it out loud that you may hear yourself call dreams into reality!

Now come back to your reality and consider what your financial life looks like today. What is your hope for the future?

Take a good look around you. Most people you see and know are probably living the usual way of life.

The Usual Way of Life

Let me guess, you have a nice-ish job that currently pays your bills and when you look out into the horizon, you see yourself working to a beautiful rhythm and retiring gracefully.

My dad retired from his job in the Summer of 2017 on a fixed date that he very much looked forward to.

He hit the much-coveted age of 65 and is now entitled to a state pension that was probably determined by someone in a room somewhere.

Ever wondered why the retirement age is 65? We get fed that number daily in the media and constantly reminded that we may stop working one day when we are tired and feeble.

That number never gets lower and now the goal post is being shifted with plans to move the retirement age in the UK to 66 by 2020, 67 by 2028 and 68 by 2037.

Who are the wizards that come up with these figures? The ones who design our futures and tell us what must happen?

Like zombies, we march on living our ordinary mediocre lives, commuting day in day out, miserable and wondering why life is so serious.

Surrounded by doom and gloom, we dream of our next holiday, with images of sandy beaches and clear waters teasing our minds and drifting ever far away.

As time passes, we get weaker and less able, with the continuous threat and whispers about robots taking our jobs in a time not too far away.

Even the usual way of living is coming under significant threat.

Feeling powerless? I bet you are. Saddled with debt? I bet you are. Feeling imprisoned? I am sure you're!

There is a way out though! Hang in there.

I love Shawshank Redemption. In fact, I have watched that beauty at least 10 times, and each time I watch it, I think of how it relates to The Usual Way of Life

AndyDufresne played by Tim Robbins, manages to break free from what was meant to be life imprisonment. As much as breaking free was remarkable, what I found even more remarkable was that he:

  • escaped using the right tool – a miniature pick axe, which he had invested in.
  • quietly chipped away at the wall in his prison cell, and each day that passed, he got progressively closer to freedom.
  • was very deliberate about his escape and planned meticulously.
  • took risk at every turn to escape because Freedom means everything.

A New Way of Life

What if I told you there was a new way? A way that differs to the Usual Way Of Life?

And what if I told you that the dream life you want can become a reality. Your reality.

That you don't have to work (to make money) till you're 65 as the system dictates and that 35 or 45 is a possibility.

Would you believe me? or would you rather crawl back into your gloomy reality?

You see, there is an exciting and growing movement around the world where many people are saying NO to the Usual Way of Life and taking steps to design their lives for Financial Independence.

Having the option to retire whenever you choose to is a thing and multiple retirements through life is becoming the norm.

[yellowbar]Achieving Financial Independence is a Super Power. It gives you the Freedom to do whatever you want and whenever. You can pursue passion projects, travel, spend more time with your family etc. But you have to CHOOSE this outcome for it to become reality.[/yellowbar]

Given this has everything to do with your mindset, it's time to hold your false beliefs ransom and begin to plot your escape plan.

Here are a number of such false beliefs:

  • Money is bad and is the root of all evil.
  • Making money from one source is how it should be.
  • Work to earn all your life and retire at the age of 65.
  • You need money first before you can make money.
  • You have to work very hard to make money.
  • Financial Independence is only for the rich.

Alot of these false beliefs have been handed down or picked up through life and become so deep-rooted that they inhibit and control us.

The way of the babyboomer is a thing of the past. They have had their cake and eaten it and most are cruising into retirement way more well off than generations after them could dream of.

Should we get angry or frustrated at those that came before us? No.

For We are a FEARLESS generation!

We change the world around us. We take action and We never give up!

Let us instead channel our frustrations and ideas into more creative outlets. Let's seek out and ride our generational advantages.

Although we're more distracted than ever before, we are also living in a time of great technological advances.

The internet is opening up more doors than ever before, and it has never been cheaper or easier to start a business, create a product or even partner with influencers.

[redbar]If you're reading this in your 20's, 30's or even 40's, then you have the benefit of time on your side and should grab the opportunity of living the New Way Of Life NOW![/redbar]

How Do You Design Your Life & Plot An Escape Plan?

Well, I thought you'd never ask!

Financial Independence is as much about the journey as it is about the destination. As I promote often on this blog, you receive nothing without first giving something.

I am sure you know many people who have run marathons.

Some make it whilst some don't. And even with those that do make it, some make it alot faster than the others.

This is usually down to better training, strategy, diet etc. Basically, having the righttools for the journey.

Therefore, given the journey to Financial Independence is unique to everyone, it will serve you well to choose your path carefully.

There are broadly two ways you go about pursuing your Financial Independence.

Option 1 – Learn by yourself

With this option, you essentially invest in all kinds of books, courses, read blogs, do your own research and come up with a plan you think works for you.

This is a credible option and can also be mixed together with option 2 below.

The thing about this option though is that execution of it will require massive will power over a very long time if you don't have someone keeping you accountable.

In addition, the plan you work out for yourself could actually be the wrong one!

If you want to explore this option, there are some good resources out there including this blog. Check out some book recommendations and keep reading my blog.

However, it you want a thorough “RoadMap To Financial Independence”, then subscribe below. I am putting together a thoroughly practical course that anyone anywhere in the world can use to achieve Financial Independence:

Option 2 – Learn directly from someone who has been there

If you want a short-cut in time and the opportunity to learn EXACTLY what you need to do for your unique personal circ*mstances, then you need to learn direct.

This option will give you all the information you will learn on the course above, but will also have the personal element which includes the opportunity to:

  • ask any question you want. No matter how silly.
  • build a real face to face relationship and have a point of reference.
  • design a real Escape Plan and have it tested by your coach.
  • learn the necessary mindset and lifestyle shifts required to drive your to Financial Independence success.

One way to do it is to approach people you know who have been there and simply ask.

Alternatively, I can offer you Private Coaching and expose you to the full extent of my knowledge and experience of specifically how you can achieve Financial Independence. So feel free to get in touch.

Now that you know about The New Way of Life, see that you do not return and aspire for The Usual Way of Life.

The decisions you make about taking the necessary steps towards achieving Financial Independence will not only be game changing for you but also for your generations to come.

You will learn and achieve what many wish they knew about decades ago, and stand to pass the knowledge onto your children and their children to come.

Financial Independence is The New Way of Life and is available to everyone! So Choose Your Destiny.

Related

How Much Money Is Enough?

7 Non-Essentials Holding Your Future Hostage

How To Calculate and Grow Your Net Worth

85 Ways To Make Extra Money

What is holding you back from seeking Financial Independence? Do comment below.

Do please share this post if you found it useful, and remember,in all things be thankful and Seek Joy.

Plot Your Escape. Choose Financial Independence - The Humble Penny (3)

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Plot Your Escape. Choose Financial Independence - The Humble Penny (2024)

FAQs

How do you hit financial independence? ›

8 steps to reaching financial independence
  1. Step 1: Get your own bank account. ...
  2. Step 2: Create your own budget. ...
  3. Step 3: Make a plan to pay off student loans. ...
  4. Step 4: Begin building your credit. ...
  5. Step 5: Save up for rent. ...
  6. Step 6: Learn about health insurance options. ...
  7. Step 7: Figure out transportation.

What does financial independence look like? ›

Being financially independent means having sufficient income, savings, or investments to live comfortably for life and meet all of one's obligations without relying on a paycheck.

How do you teach financial independence? ›

Here are seven strategies for their parents to help their children work towards independence.
  1. Focus on Contentment. ...
  2. Help Your Child Set Up and Use a Bank Account. ...
  3. Walk Through the Basics of Budgeting. ...
  4. Introduce Them to Investing. ...
  5. Require Teenagers to Earn Their Spending Money.
Jun 20, 2024

How do you use financial independence in a sentence? ›

As if financial independence is not enough to cope with, there is also the prospect of being done over by unscrupulous landlords. The loss of financial independence is another consideration. She began to experience financial independence. These already enjoy considerable managerial and financial independence.

What is the 4 rule for financial independence? ›

Key Takeaways. The 4% rule says people should withdraw 4% of their retirement funds in the first year after retiring and take that dollar amount, adjusted for inflation, every year after. The rule seeks to establish a steady and safe income stream that will meet a retiree's current and future financial needs.

How to become financially free in 5 years? ›

In reality, the rule is extremely straightforward. 50-20-30 rules is an easy way to know how to achieve financial freedom in 5 years. Split the cash-in-hand into 3 equal parts as per the rule. 30% of income is spent on wants, 50% on needs, and 20% is set aside for savings and investments.

What is the 25x rule for retirement? ›

The 25x rule entails saving 25 times an investor's planned annual expenses for retirement. Originating from the 4% rule, the 25x rule simplifies retirement planning by focusing on portfolio size.

What are 10 steps to financial freedom? ›

10 Steps to Achieve Financial Freedom
  • Understand Where You Are At. You can't gain financial freedom if you do not have a starting point. ...
  • View Money Positively. ...
  • Write Down Your Goals. ...
  • Track Your Spending. ...
  • Pay Yourself First. ...
  • Spend Less. ...
  • Buy Experiences Not Things. ...
  • Pay Off Debt.

What is the first rule of financial independence? ›

The first rule of financial independence states that you should never lose money on your path to financial independence, especially after achieving financial independence.

What are the 2 meanings of financial independence? ›

The concept of financial independence goes beyond just having enough money or wealth. Achieving financial independence gives freedom to make the best use of time to pursue life's goals and dreams, or help the citizens of the community to lead a life with purpose.

How to live financially free? ›

How To Achieve Financial Freedom
  1. Clearly Define Your Financial Goals. Start this process by clearly defining your financial goals. ...
  2. Track And Analyze Your Spending. ...
  3. Create A Budget. ...
  4. Pay Off Your Debt. ...
  5. Start Investing. ...
  6. Create Multiple Streams Of Income. ...
  7. Save For The Future.
Jan 20, 2024

What does the Bible say about financial independence? ›

Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal, but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal. For where your treasure is, there your heart will be also.

What does it mean to be financially independent woman? ›

Many people think it simply means having a large amount of money in the bank, but it's much more. Financial independence is the ability to support oneself financially without relying on others or external sources of income.

How do you know if you are financially independent? ›

But financial independence can have various meanings. One popular definition is having enough money to be able to stop working. A more attainable interpretation is that you don't have to rely on someone else, such as your parents or a spouse, for money.

What are the 7 steps to financial freedom? ›

You can too!
  • Save $1,000 for Your Starter Emergency Fund.
  • Pay Off All Debt (Except the House) Using the Debt Snowball.
  • Save 3–6 Months of Expenses in a Fully Funded Emergency Fund.
  • Invest 15% of Your Household Income in Retirement.
  • Save for Your Children's College Fund.
  • Pay Off Your Home Early.
  • Build Wealth and Give.

How much money is considered financial independence? ›

Americans say they'd need to earn about $94,000 a year on average to feel financially independent. That's about $20,000 more than the median household income of $74,580.

How to be financially free by 30? ›

10 steps to financial freedom in your twenties and thirties
  1. Start saving for your future...now! ...
  2. Get into the habit of budgeting — and stick to it! ...
  3. Avoid debit cards and debt accumulation. ...
  4. Bank smart. ...
  5. Have an emergency fund. ...
  6. Learn about investing. ...
  7. Set goals. ...
  8. Take advantage of free money: invest in a company-matched 401k.

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