{"id":124093,"date":"2019-01-01T15:04:26","date_gmt":"2019-01-01T23:04:26","guid":{"rendered":"http:\/\/erickimphotography.com\/blog\/?p=124093"},"modified":"2019-01-01T15:05:37","modified_gmt":"2019-01-01T23:05:37","slug":"financial-independence","status":"publish","type":"post","link":"https:\/\/erickimphotography.com\/blog\/2019\/01\/01\/financial-independence\/","title":{"rendered":"Financial Independence"},"content":{"rendered":"\n

When we say we want ‘financial independence’, what do we really mean to say?<\/p>\n\n\n\n\n\n\n\n

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DOWNLOAD PDF TEXT: Financial Independence<\/a>Download<\/a><\/div>\n\n\n\n
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If you had the option, would you show up to your job?<\/h2>\n\n\n\n
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This is what I think:<\/p>\n\n\n\n

When we say we want ‘financial independence’, we mean to say: ‘I don’t want to work a job I hate in order to pay for rent and my living expenses.’<\/p><\/blockquote>\n\n\n\n

Unfortunately, most of us are trapped and enslaved in jobs we hate, in order to pay our rent and make a living. <\/p>\n\n\n\n

Thus, when we say we want ‘financial independence’, I think what we really mean to say is, “I don’t want to show up to my job everyday in order to pay my bills.”<\/p>\n\n\n\n

Thus, what we really want is ‘toilsome job independence’ — becoming independent (not dependent) on having to labor toilsome labor in order to make a living.<\/p>\n\n\n\n

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What is the difference between having a million dollars in the bank, versus spending a million dollars?<\/h2>\n\n\n\n
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When most people say they want to become ‘millionaires’, I think what they mean to say is:<\/p>\n\n\n\n

I wish I can buy all the shit I want, and live a fancy lifestyle, indefinitely.<\/p><\/blockquote>\n\n\n\n

But if we think about this more technically — <\/p>\n\n\n\n

You can only be a millionaire if you have a million dollars in equity or cash in the bank.<\/p><\/blockquote>\n\n\n\n

A million dollars in the bank<\/h2>\n\n\n\n
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Let us say you had a million dollars in the bank. The moment you go out and spend a million dollars, you no longer are a millionaire.<\/p>\n\n\n\n

Furthermore, if you want to accumulate a million dollars in the bank, you must earn more money than you spend. And I think the easiest way to do this is by reducing your expenses to the bare minimum; this way, you don’t need a large income in order to save up a lot of money.<\/p>\n\n\n\n

Freedom from worry<\/h2>\n\n\n\n
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I think there are some people who consider ‘financial independence’ as having freedom from financial worries or stresses.<\/p>\n\n\n\n

And what is the easiest way to gain freedom from financial worries? Easy: reduce your living expenses to the bare minimum.<\/p>\n\n\n\n

If you live a frugal lifestyle, you are more protected from uncertainty in life.<\/p>\n\n\n\n

The upside of being poor<\/h2>\n\n\n\n
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I forgot the philosopher who once said:<\/p>\n\n\n\n

The poor man laughs at the robber in the face, and sleep well at night.<\/p><\/blockquote>\n\n\n\n

If you don’t own anything which requires expensive maintenance, if you don’t have expensive bills or expenses, an expensive mortgage, you don’t really worry too much about finances. Why? You know you can live well on relatively little!<\/strong><\/p>\n\n\n\n

The myth of’Passive income’<\/h2>\n\n\n\n
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Another thing which I think people desire is gaining this mythical ‘passive income’. The reason why I say this notion of passive income is a myth is because no matter what, all the income you earn MUST be managed, and therefore IS active!<\/p>\n\n\n\n

For example, even if you make money from stocks and investments, you must constantly monitor and manage your investments! Furthermore, even if you have a business where you are drop-shipping products, you still must aggressively market your products, and promote your products (if you desire to actually sell anything!)<\/p>\n\n\n\n

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So I think when some people think that they desire financial independence, they mean to say:<\/p>\n\n\n\n

I want to sit at home, do nothing, yet earn money.<\/p><\/blockquote>\n\n\n\n

This is a fantasy that is not grounded in reality.<\/p>\n\n\n\n

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Why do you want financial independence?<\/h2>\n\n\n\n
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I think all of us (regardless of how we define financial independence) desire some form of financial independence:<\/p>\n\n\n\n