Financial Independence - Go Get It

Financial Independence is something that countless people dream about but few ever achieve. So why is that? What's holding everyone back? The truth is its likely all in your head. A lack of drive or getting lazy can occur because your current situation is comfortable. Well if you really want that financial independence, the good news is you can have it. There's no magic formula or step by step manual to get there. You just have to go get it.

Now it's important to understand something first. Money is only good for the good it can do. If you're just trying to get rich so you can buy a Maserati, build a ridiculous house, and roll around in dollar bills all day, you're missing the point. Financial independence is about much, much more than that. It's about having the means to take care of your family, and to be a steward of your money to benefit the lives of others. It's about leaving the world a better place than when you got here and having a little fun in the mean time.

Ok, so now that you have your moral compass pointed in the right direction, how do you get there? It starts by taking control, changing your old habits and starting some new ones. Trade in that laziness and lack of drive for discipline and passion about getting where you want to be. Be focused, determined, and willing to push. Live like no other now, so you can live like no other later.

Start by creating goals. What is it that you really want? How do you get there? You've heard it a thousand times but goals need to verbalized and then written down. The most successful individuals are people who write goals down and grind and scratch until they achieve them. Are you willing to do that?

The first goal should be to get rid of bad debt. Quit carrying unnecessary balances on credit cards or buying cars you need to finance over 10 years. Did you really need that 65" LCD TV for the basement when you already had a 52 incher upstairs? Is driving around in a new Hummer worth sacrificing your retirement? Put as much extra money as you can toward the credit cards and car payments each month until they're gone.

Next, pay yourself first. This means that out of every paycheck a good chunk (at least 10%) needs to go into savings of some sort before you buy anything else. Once you have a cash cushion, start pumping money into qualified accounts 401k, IRA, Roth etc. Make sure to talk with your financial consultant about how to invest in these accounts. Do your best to max them out each and every year. Don't save based on what's left after you spend, spend based on what's left after you save.

And if you decide you want to increase your earning power, find your passion. Are you happy with your current job or do you want something more? Maybe you should consider taking night classes towards your masters, or sharpen your axe in another manner to increase your income. Do what you love, and the money will follow.

The last step to Financial Independence is to give freely. Make sure that you don't wait until you've "made it" to start helping out. Improving the lives of others by sharing what you've earned is one of the most important principles we can live by. It ensures that the money doesn't become too important, because if it does take center stage, everything else will crumble around it.

Remember there is no magic formula to attain financial independence. It takes discipline, passion, and the willingness to set goals and follow through on them. It means changing old habits and finding what you're passionate about. Pay yourself first, invest for the future and start giving. Keep your priorities straight, have a little fun, and forget about the money. That's what financial independence is really about. Now go get it!

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