Personal FInance
Just like no two people are the same, while many of us have similar features, we’re all completely different! In the same way, each and everyone’s journey to FI may be made up of very similar spending, saving, and investing strategies, but their journey is completely unique!
Famous author of Rich Dad Poor Dad, Robert Kiyosaki has an analogy about the journey to FI. He says it’s like a football game. The first quarter is between ages 25-35, the second quarter is from 35 to 45, the third quarter is from ages 45-55, and the fourth quarter is from ages 55-65 years old. Then there’s overtime from 65-70, and finally there’s out of time which is from ages 70 and later.
Anyone who watches football knows that a game is not decided in the first or second quarter alone. In fact, the third and final quarters of a game can determine a very successful outcome for a team! Essentially, it’s never too late to start at personal finance, and winning can take place even though you never started in the first or second quarter! He makes time to mention that it’s important to get started before the game is over because then it’s too late!
If personal finance is a passion of yours, then you’ve most certainly heard all kinds of stories of people who’ve achieved financial independence at different stages in life! Whether it’s a young and successful entrepreneur or a middle aged retiree living on a pension, we all know that there’s more than one way to FI. If you’re like me, you’ve struggled with comparing yourself to others in the past and perhaps you’ve had a hard time accepting where you are currently compared to where you’d like yourself to be.
The thing about personal finance though is that there’s no quick and easy magic pill to take! Most people only see the end result which makes it appear like it was easy, but this is so far from the truth! Any financially independent person has made sacrifices in order to become so! Whether it was the long days and nights away from their family and friends to build a successful business, or it could have been after a series of failed and extremely frustrating attempts at selling their product or idea. Whatever their story looks like now, should also reveal that they were very intentional, disciplined, and dedicated along the way. Dave Ramsey has a famous quote where he says “you may have stumbled into debt, but there’s no way you’re going to stumble out of it.” Financial independence is the same!
My recommendation is to have clear and concise goals for yourself. Make sure that you have a plan to move towards those goals each day, week, and year. If you’re not moving towards those goals, then you likely need to re-address your plan. If you stay focused, you will continue to build your future and eventually you too will have a successful journey to FI!!!
