Financial Independence or Financial Freedom. In a simple meaning, it simply refers to the status where you can choose NOT to work and continue to enjoy the lifestyle that you desire. If you continue, it's hopefully because you LOVE to work, and not because you NEED to work.
Look at the people around you. Do you think the smiling auntie at the McD or KFC is truly enjoying her work, serving customers, faithfully cleaning the floor because she loves the job? Was it a choice that these employers prefer to work out their retirement years for 'fun', or was it because they need the money for survival reasons?
When it comes to wealth management, many people wants to take charge of their own destiny (afterall it's their hard-earned money). But many choose to procrastinate and get indulge in their existing work issues and current problems.
In this article, the Ms Lorna Tan (the regular finance correspondent of ST) described the belief of getting rich, which I totally agreed. There is one part which said: " Another unpleasant truth is that most people are too lazy to be rich. They may say they want to be rich but they don't do much about it except to hope to become rich by chance e.g. Toto, 4D..etc."
How many times had we gossiped among our friends and colleagues, envying this guy buy this condominum or car, that guy earning 5 digits, that lady what what what.... then at the end of the conversation, we go back to our 9-to-5 job and carry on our daily activities. End of story. I was one of them. But I decided to change and put words into actions.
The fundamentals of getting rich, it seemed, is to have the correct beliefs and mindset.
Last, but not least, changing your mindset is not enough, so have an action plan to help you achieve your goals. Be diligent in acquiring more financial knowledge by reading up about money management and investing. Get professional advice.
If you truly wants to be financial prepared for the present and the future, you can consider my professional assistance at 9876-0237 for a good discussion. That's so much to gain and practically nothing to lose!
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