Financial Freedom: The True American Dream

Nobody wants to work—or, better stated, nobody wants to be forced to work. We would all love to be “work-optional.” To become work-optional, you must first become financially free.

Becoming financially independent isn’t as tough as people think; however, the media does an excellent job of making it seem out of reach.

Ultimately, your version of the American dream will keep you in the workforce. If you can shift your focus to enjoying people over things, you have an excellent chance to set yourself free.

Saving for a House Down Payment #6

The American dream (consumer version). The American economy runs on rampant consumerism. In this version of the dream, there is never an end in sight of the amount of money we can spend.

There is always a bigger house, faster boats, shinier jewelry, or prettier bags to purchase. Most people can’t keep up with this lifestyle.

Many people have the smarts and pose to retire early if it weren’t for their over-the-top spending habits. These habits keep us going to work every day.

However, there comes a day when we all must slow down and live on a budget. I have seen famous people slow their spending because of the risk of going broke.

Homeschooling vs. Real Estate Prices

What’s so bad about living on a budget in the first place? Why must we wait until we are 65 before respecting our money?

The American dream (family version). Focusing on family gives us a much better chance of becoming financially free. Hanging with family doesn’t need to cost a lot of money.

Traveling overseas with our family would be nice, but that’s a luxury dream. In the meantime, we can take a road trip or stay at a local Marriott. 

The family version of the American dream works better since it focuses on time, not money. Once you value your time over money, you set the stage for making better financial decisions.

Let’s buy our freedom. So, how do we purchase our freedom from the rat race? Surely, it must be difficult because most people cannot achieve it.

Saving for a House Down Payment #5

Now that we understand time is the most critical part of our lives, we are in the right mindset to escape the meat grinder called work.

Life is a math game. The goal is to have your assets produce more income than your expenses. Pretty simple, right?

Let’s say you have $10,000 in expenses per month. One of the best income-producing assets we can purchase is dividend stocks. In this case, let’s purchase enough shares of Verizon (VZ) to set ourselves free.

Verizon currently has a 6.65% yield. The math shows I need to invest $1.8 million in Verizon to get the desired income.

Saving & Investing with $200/Month Available

But life is a math game, so let’s adjust the numbers. Let’s say I can live on $5,000 per month and invest in AGNC, which pays 13%.

My new freedom number is $461,538. That’s not bad. Okay, let’s say I can get a roommate who pays $1,000 and rent my car for $1,000 per month. Now, I only need $3,000 per month from AGNC.

With my additional passive income streams, I would need $276,923. That seems much more reasonable than $1.8 million, doesn’t it?

Reading between the numbers. How did we free ourselves so quickly? Let’s examine the actual steps we took to leave the workforce.

1. Reduce our expenses. We cut our costs in half.
2. Invest in high-yield. High-yield investing is not for everyone, but it achieves the required income much quicker.
3. Create passive income streams. The more streams, the merrier. Try to avoid working for money. You want to reap the rewards for your work multiple times (like writing a book).

So, you see, the goal of life is not to work but to have life work for you. There has never been a better time to reduce expenses, invest, and create passive income streams.

Be Extreme Toward Your Dream

What do you do during retirement? My wife and I retired at age 39 and 42 respectively. The question people ask the most is what I do in my free time. This shows how strong the brainwashing is amongst the general population. Here’s how I spend my days.

1. Talking and drinking coffee with my wife.
2. Writing articles, releasing books, and running a website.
3. Mentoring my two boys (ages 17, and 13).
4. Watching movies and reading books.
5. Trading and investing in the stock market.
6. Maintaining my four houses and three cars.
7. Keeping up with administration paperwork to run the household.
8. Soon, I’m going to college full-time (starts in 3 weeks).

I never have a lack of things to do. Robert Kiyosaki says we must “mind our business.” We can’t spend 8-10 hours a day working for someone else and think we’ll get ahead.

Now imagine if you spent 8-10 hours a day maintaining and building your family relationships, households, and businesses. How much stronger would your family foundation become?

Financial Freedom- the true American dream. You must decide what your American dream represents. Do you want a fancy house and boat?

Credit Card Users Beware

Do you want your kids to grow up on a homestead where you can homeschool them? How about the option to have a homeschool on a boat?

Life is about options. The best way to explore these options is to become financially independent. Robert Kiyosaki retired with $10,000 monthly in rental income before he focused on writing his books.

I retired on $11,000 per month in passive income to focus on building my family’s wealth and resources. I cannot overstate how much broader your vision becomes when free from the confines of work.

If the plan seems unreasonable, something isn’t right in your life. You may not be earning enough at your job or paying too much in housing expenses.

Quiet Quitting vs. The Great Resignation

Either way, becoming financially independent will require a massive sacrifice. The rich are rich because they have assets upon birth.

If nobody gifted you assets (like me), then you must do something spectacular to gain them. My wife and I got roommates for five years while I served in the Marine Corps (24 years).

Conclusion. How bad do you want to be free? Many people say they love their jobs, and I won’t argue. I love my family more than my job.

I loved every day in the Marine Corps because I was with like-minded folks. But I don’t miss it at all. I love having the focus, energy, and time to dedicate to building wealth and leading my family.

Using Credit Cards 104

You simply can’t get ahead if you focus 90% of your efforts on building someone else’s vision and dream. You can free yourself with a plan.

Start by determining how much you need to survive and thrive. Then, cut that number in half. Now, move to a small city or live with your parents. Do something to cut your living expenses in half.

Living below your means is the first step to financial freedom. Once you add in passive income streams, your life will change drastically.

If you can’t imagine life without work, then continue to work. Don’t be upset if your family’s situation doesn’t turn out how you wish. There are only so many hours in the day, and you choose to spend your hours at work. Good Luck!

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