We all have heard about the word “financial freedom” at some point in our lives but some of us have not really considered the meaning and how one can achieve financial freedom. As mentioned earlier, we talk about it but not many people know what it means to be financially free. If you are in the category of those that do not know, then this article is meant for you.
To start with, let’s take a look at what financial freedom really means. Financial freedom means being able to make certain life (changing) decisions without being paranoid as to how much money it will cost or the financial implication of such decisions. This however does not mean that you are nonchalant but rather, it means you have so much money that you are ready and prepared. Another definition I’d like to give financial freedom is putting your money in certain investments such that it generates more income for you.
In order to achieve financial freedom, you have to be willing to use money to get more money. This however can be done by investing and, among other things, real estate investing can help you achieve financial freedom.
Before going any further, let’s also get to know the meaning of real estate investing. According to Wikipedia, Real estate investing involves the purchase, ownership, management, rental and/or sale of real estate for profit. Given that definition, it is only advisable that you take action towards your financial freedom and invest in real estate. Not because it is the “in thing” at the moment but because it is one of the ways through which you can make more money, thereby making it easier for you to achieve financial freedom.
Before we continue, let’s take some time to examine the benefits of financial freedom.
As mentioned earlier, I said financial freedom is being able to make certain life (changing) decisions without fear of the financial implication (cost) of such decisions. Given that, the first benefit of financial freedom is that you will be able to take some steps and make decisions without fear of not having enough money.
In a case where your passive income (the profit or income you get from investments and savings) is close to what you spend, you are free to decide the people you work with, how you work, and the duration you want to work for. This is because you already have a steady source of income so you do not need to start seeking for a 9-5 job.
This is somehow related to the benefit mentioned in 2. above. This is because since you decide who to work with, when to work and how long to work all by yourself, you can also decide to retire at a certain age and continue to have your money (investments) work for you.
The last benefit I would like to mention is that as someone with financial freedom,
Less stress equates to peace of mind and a restful sleep at night. This is because you do not have to go through any work stress since you decide all by yourself (flexibility) and you live by your terms.
Real estate investment is one of the sure ways you can get financial freedom, therefore, you need to make up your mind whether you want to continue in your financial situation or take action towards your financial freedom and invest in real estate.