Plot Your Escape. Choose Financial Independence - The Humble Penny (2024)

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Plot Your Escape. Choose Financial Independence - The Humble Penny (1)

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Pause for a moment and imagine a Life of Freedom and Financial Independence.

What does that dream life look like? What are you doing with your time? How do you feel in that dream life?

Say it out loud to yourself. Yes, say it out loud that you may hear yourself call dreams into reality!

Now come back to your reality and consider what your financial life looks like today. What is your hope for the future?

Take a good look around you. Most people you see and know are probably living the usual way of life.

The Usual Way of Life

Let me guess, you have a nice-ish job that currently pays your bills and when you look out into the horizon, you see yourself working to a beautiful rhythm and retiring gracefully.

My dad retired from his job in the Summer of 2017 on a fixed date that he very much looked forward to.

He hit the much-coveted age of 65 and is now entitled to a state pension that was probably determined by someone in a room somewhere.

Ever wondered why the retirement age is 65? We get fed that number daily in the media and constantly reminded that we may stop working one day when we are tired and feeble.

That number never gets lower and now the goal post is being shifted with plans to move the retirement age in the UK to 66 by 2020, 67 by 2028 and 68 by 2037.

Who are the wizards that come up with these figures? The ones who design our futures and tell us what must happen?

Like zombies, we march on living our ordinary mediocre lives, commuting day in day out, miserable and wondering why life is so serious.

Surrounded by doom and gloom, we dream of our next holiday, with images of sandy beaches and clear waters teasing our minds and drifting ever far away.

As time passes, we get weaker and less able, with the continuous threat and whispers about robots taking our jobs in a time not too far away.

Even the usual way of living is coming under significant threat.

Feeling powerless? I bet you are. Saddled with debt? I bet you are. Feeling imprisoned? I am sure you're!

There is a way out though! Hang in there.

I love Shawshank Redemption. In fact, I have watched that beauty at least 10 times, and each time I watch it, I think of how it relates to The Usual Way of Life

AndyDufresne played by Tim Robbins, manages to break free from what was meant to be life imprisonment. As much as breaking free was remarkable, what I found even more remarkable was that he:

  • escaped using the right tool – a miniature pick axe, which he had invested in.
  • quietly chipped away at the wall in his prison cell, and each day that passed, he got progressively closer to freedom.
  • was very deliberate about his escape and planned meticulously.
  • took risk at every turn to escape because Freedom means everything.

A New Way of Life

What if I told you there was a new way? A way that differs to the Usual Way Of Life?

And what if I told you that the dream life you want can become a reality. Your reality.

That you don't have to work (to make money) till you're 65 as the system dictates and that 35 or 45 is a possibility.

Would you believe me? or would you rather crawl back into your gloomy reality?

You see, there is an exciting and growing movement around the world where many people are saying NO to the Usual Way of Life and taking steps to design their lives for Financial Independence.

Having the option to retire whenever you choose to is a thing and multiple retirements through life is becoming the norm.

[yellowbar]Achieving Financial Independence is a Super Power. It gives you the Freedom to do whatever you want and whenever. You can pursue passion projects, travel, spend more time with your family etc. But you have to CHOOSE this outcome for it to become reality.[/yellowbar]

Given this has everything to do with your mindset, it's time to hold your false beliefs ransom and begin to plot your escape plan.

Here are a number of such false beliefs:

  • Money is bad and is the root of all evil.
  • Making money from one source is how it should be.
  • Work to earn all your life and retire at the age of 65.
  • You need money first before you can make money.
  • You have to work very hard to make money.
  • Financial Independence is only for the rich.

Alot of these false beliefs have been handed down or picked up through life and become so deep-rooted that they inhibit and control us.

The way of the babyboomer is a thing of the past. They have had their cake and eaten it and most are cruising into retirement way more well off than generations after them could dream of.

Should we get angry or frustrated at those that came before us? No.

For We are a FEARLESS generation!

We change the world around us. We take action and We never give up!

Let us instead channel our frustrations and ideas into more creative outlets. Let's seek out and ride our generational advantages.

Although we're more distracted than ever before, we are also living in a time of great technological advances.

The internet is opening up more doors than ever before, and it has never been cheaper or easier to start a business, create a product or even partner with influencers.

[redbar]If you're reading this in your 20's, 30's or even 40's, then you have the benefit of time on your side and should grab the opportunity of living the New Way Of Life NOW![/redbar]

How Do You Design Your Life & Plot An Escape Plan?

Well, I thought you'd never ask!

Financial Independence is as much about the journey as it is about the destination. As I promote often on this blog, you receive nothing without first giving something.

I am sure you know many people who have run marathons.

Some make it whilst some don't. And even with those that do make it, some make it alot faster than the others.

This is usually down to better training, strategy, diet etc. Basically, having the righttools for the journey.

Therefore, given the journey to Financial Independence is unique to everyone, it will serve you well to choose your path carefully.

There are broadly two ways you go about pursuing your Financial Independence.

Option 1 – Learn by yourself

With this option, you essentially invest in all kinds of books, courses, read blogs, do your own research and come up with a plan you think works for you.

This is a credible option and can also be mixed together with option 2 below.

The thing about this option though is that execution of it will require massive will power over a very long time if you don't have someone keeping you accountable.

In addition, the plan you work out for yourself could actually be the wrong one!

If you want to explore this option, there are some good resources out there including this blog. Check out some book recommendations and keep reading my blog.

However, it you want a thorough “RoadMap To Financial Independence”, then subscribe below. I am putting together a thoroughly practical course that anyone anywhere in the world can use to achieve Financial Independence:

Option 2 – Learn directly from someone who has been there

If you want a short-cut in time and the opportunity to learn EXACTLY what you need to do for your unique personal circ*mstances, then you need to learn direct.

This option will give you all the information you will learn on the course above, but will also have the personal element which includes the opportunity to:

  • ask any question you want. No matter how silly.
  • build a real face to face relationship and have a point of reference.
  • design a real Escape Plan and have it tested by your coach.
  • learn the necessary mindset and lifestyle shifts required to drive your to Financial Independence success.

One way to do it is to approach people you know who have been there and simply ask.

Alternatively, I can offer you Private Coaching and expose you to the full extent of my knowledge and experience of specifically how you can achieve Financial Independence. So feel free to get in touch.

Now that you know about The New Way of Life, see that you do not return and aspire for The Usual Way of Life.

The decisions you make about taking the necessary steps towards achieving Financial Independence will not only be game changing for you but also for your generations to come.

You will learn and achieve what many wish they knew about decades ago, and stand to pass the knowledge onto your children and their children to come.

Financial Independence is The New Way of Life and is available to everyone! So Choose Your Destiny.

Related

How Much Money Is Enough?

7 Non-Essentials Holding Your Future Hostage

How To Calculate and Grow Your Net Worth

85 Ways To Make Extra Money

What is holding you back from seeking Financial Independence? Do comment below.

Do please share this post if you found it useful, and remember,in all things be thankful and Seek Joy.

Plot Your Escape. Choose Financial Independence - The Humble Penny (3)

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Plot Your Escape. Choose Financial Independence - The Humble Penny (2024)

FAQs

How can I save for financial independence? ›

Make a budget to cover all your financial needs and stick to it. Pay off credit cards in full, carry as little debt as possible, and keep an eye on your credit score. Create automatic savings by setting up an emergency fund and contributing to your employer's retirement plan.

What does financial independence give you? ›

It also requires responsible management and control of one's finances, making informed decisions about spending, saving, and investing.” The biggest advantage offered by financial independence is that you can control the things that matter most in your life. You're beholden to no one.

How do you teach financial independence? ›

When they're little
  1. Introduce the value of money.
  2. Emphasize saving.
  3. Introduce them to investing.
  4. Encourage a summer job.
  5. Introduce them to credit.
  6. Consider a Roth IRA.
  7. Help them set a budget.
  8. Encourage them to stay invested.

What is the 50 30 20 rule? ›

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.

What is the 4 rule for financial freedom? ›

The 4% rule says people should withdraw 4% of their retirement funds in the first year after retiring and take that dollar amount, adjusted for inflation, every year after. The rule seeks to establish a steady and safe income stream that will meet a retiree's current and future financial needs.

What can I do to build wealth? ›

  1. Earn Money.
  2. Set Goals and Develop a Plan.
  3. Save Money.
  4. Invest.
  5. Protect Your Assets.
  6. Minimize the Impact of Taxes.
  7. Manage Debt and Build Your Credit.

How much money do you need to be financially independent? ›

Americans say they'd need to earn about $94,000 a year on average to feel financially independent. That's about $20,000 more than the median household income of $74,580.

How much money do you need to live off passive income? ›

It's easiest to live off of passive income if you live in a low cost-of-living area. To live off of financial investment and cash-equivalent income, you'll need a larger amount of money. To earn $30,000 per year, you'll need $600,000 invested at 5% per year.

At what age do people become financially independent? ›

Among the key findings: 45% of young adults say they are completely financially independent from their parents. Among those in their early 30s, that share rises to 67%, compared with 44% of those ages 25 to 29 and 16% of those ages 18 to 24.

What are the 2 meanings of financial independence? ›

Financial independence means having enough money to live the life you want without income from a job (unless you want one). Savings and investments could provide income for the rest of your life.

How do I create passive income? ›

11 Passive income ideas
  1. Make financial investments. ...
  2. Own a rental property. ...
  3. Start a print-on-demand shop. ...
  4. Self-publish. ...
  5. Sell worksheets. ...
  6. Sell templates. ...
  7. Create content. ...
  8. Create an online course.
Mar 18, 2024

How much do I need to save to be financially stable? ›

“If you're able to save 15% or 20% of your income annually, you're going to be in a really good spot financially if you're prudent about your investments,” Zacks said. “If you're looking to have that emergency savings fund, to have that stability, a lot of that can come from incremental things.

At what age should you be financially independent? ›

“Household formation costs are very expensive, college is very expensive – everything costs more. I have a lot of empathy for people who are just starting out.” That said, the typical age of financial independence should be between 20-23 years old, according to a Bankrate survey.

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