Financial independence, commonly understood to be the point at which a person no longer needs to work to support their basic financial needs, is all the rage these days. Financial independence means different things to different people and everyone’s definition of ‘enough’ money is unique to their situations and tastes. Regardless of what your personal freedom number is, here are 4 amazing benefits of financial freedom.
- It Means No Worries– No doubt people all over the world are dealing with job loss or shrinking incomes as the world grapples with the global pandemic and sweeping lockdowns. Imagine a life in which an economic downturn didn’t riddle your days with anxiety.
- Getting Outside Every Day– For those who work in the traditional corporate 9 to 5 world, most of the day is spent in conference rooms and cubicles (or in the pandemic, whichever cozy corner of one’s dwelling affords some quiet & privacy). The truth is working the corporate grind is not conducive to getting outside in nature every day. However, once you are financially free, you can spend those best hours of the day doing what you want to do- and this means enjoying the best part of the day getting fresh air and sunlight. If you do part time work, you can plan your weeks around the weather and spend the best hours of your week outdoors.
- Interesting Travel Opportunities– Think of how many days you took off in the last year. Chances are you may have taken a week off or two for holidays or a scheduled vacation. But imagine the possibilities that arise when you can travel for weeks or even months on end. Imagine the parts of the world that open to you. Or imagine taking time to immerse yourself in another culture while pursuing a language immersion program for six weeks. When you don’t have to fight with your boss for days off, the possibilities become endless and far more exotic.
- Passion Projects– Running a marathon, volunteering with an organization, learning a language, or taking a yoga or scuba certification course. Each of us carry hopes and dreams that we put off until ‘someday’ when we have the time. Financial freedom allows those passions to become pursuits today.
What does financial freedom mean to you? What will you do and where will you travel when you reach your personal milestone?