If you were to look at actuary tables published by the insurance industry, people whose goal is to reach 65 so they can retire, reach their goal.
However, it’s interesting to note that if that’s their sole goal, they pass away within two years of reaching it.
It’s because they haven’t bothered to plan their life beyond that point!
Webster defines the word retire as: to withdraw from action; retreat.
And, that’s exactly what many retired people do. They withdraw from life and become reclusive. Part of this is because they have to; they simply don’t have enough money to live on. They’ve relied on the government to care for them in their golden years.
Your Financial Freedom Day
At Live Out Loud, our goal is to have you design your life to include Financial Freedom. You need to design your Financial Freedom Day so you can enjoy your “want to” life as opposed to living in the “have to” life.
Your Financial Freedom Day is the day YOU get to design. It’s the day when you will be able to be financially independent; a time that you get to decide on what you really want to do as opposed to what you have to do.
This requires vision.
A clear vision keeps you on course; it keeps you on purpose. It represents the total journey you’re taking and gives you something to strive toward. It’s your higher purpose; something to which you aspire.
A person with no vision could be compared to a ship without a rudder, wandering aimlessly, never knowing whether or not they’re on track. Most people have an essence about what they want to do. However, they don’t have a vision. Your vision charts your course and keeps you true to what you believe.
One of the best definitions of vision that I’ve come across comes from
Cynthia D. Scott, Dennis T. Jeffe, and Glenn R. Tobe who wrote:
“A vision is a picture of a preferred future state, a description of what it would be like to be some years from now. It is a dynamic picture of the future. It is more than a dream or set of hopes; it is a commitment. The vision provides the context for designing or managing the changes that will be necessary to reach those goals.”
What is your financial vision?
Very few people we know create wealth just to be “rich.” The wealth is a bi-product that allows them the means to do other things.
So what’s your reason for accumulating wealth? Are you doing this to be able to provide some service to the world; are you doing it to build a legacy for your family; do you have philanthropic goals?
You need to be clear on your vision. So what is it?
Let’s get clear. Here’s what I want you to do: In clear and concise language, describe your financial vision. This will include things like, “I want to have ‘x’ dollars every month, I want 3 homes, I want my kids to be set for life.” Whatever your vision is for your financial future, write it down.
That’s the only way you’ll get clear.
Remember, nobody finds financial freedom… they plan it. Every time.