Saturday, June 19, 2021

What is financial freedom?

 I was reading the Psychology of Money by Morgan Housel and he talked about what freedom is.

The highest form of wealth is the ability to wake up every morning and say, " I can do whatever I want today." People want to become wealthier to make them happier. Happiness is a complicated subject because everyone's different. But if there's a common denominator in happiness - a universal fuel of joy - it's that people want to control their lives. The ability to do what you want, when you want, with who you want, for as long as you want, is priceless. It is the highest dividend money pays.

Having a strong sense of controlling one's life is a more dependable predictor of positive feelings of wellbeing than any of the objective conditions of life we have considered. More than your salary. More than the size of your house. More than the prestige of your job. Control over doing what you want, when you want to, with the people you want to, is the broadest lifestyle variable that makes people happy.

Money's greatest intrinsic value is it's ability to give you control over your time. To obtain, bit by bit, a level of independence and autonomy that comes from unspent assets that give you greater control over what you can do and when you can do it. Controlling your time is the highest dividend money pays.

Indeed, having the choice to retire when you want to, instead of when you need to, is what I wanted to accomplish when I embarked on this journey. 

All the best to everyone embarking on this journey to financial freedom!





1 comment:

  1. Totally agree. Having the financial freedom to do what I want, whenever I want is the motivation for me to pursue investment.

    ReplyDelete

What is financial freedom?

 I was reading the Psychology of Money by Morgan Housel and he talked about what freedom is. The highest form of wealth is the ability to wa...