What Is True Financial Freedom?
Hi, everyone. My name is Raymond Jewel, and today we're going to talk about what is true financial freedom.
So, let's talk about true financial freedom. When you hear the financial people talk about becoming financially free, their definition is a different definition than what wealthy people deem financially free.
So if you're going to work with a financial person from the financial institutions, you want to understand what financial freedom means in a sense that the wealthy people look at it.
When you look at financial freedom in the financial planner stage, you'll see that on the screen here you have several steps. I've got five here, but there's many more. They want you to pay down your credit card debt, to save and invest 10% to 20% of your income, build a strategic reserve, whatever that means. Some people call it a rainy day fund. Wait to buy a home until you're ready and can afford it. Live within or below your means.
Well, this is fine if you're just focusing on today. But wealthy people don't do that. They don't focus on just getting by. They don't focus on... We call it lack. You will achieve what you focused on. So when you focus on lack, that's what you'll get, lack. So if you're focusing on just getting by, that's not being financial free. So I copied the above 5 items off the internet, five ways to achieve financial freedom. They are not focusing on abundance. This is very lack base. So when you focus on lack, that's what you get. You get lack, and chances are people never will achieve the 5 objectives because they will get frustrated living in a lack based future.
If you're going to go down this road, you have to have an abundance approach. So if you look at financial freedom, the way wealthy people look at it, they have an abundance focused image. They have a vision of what they want. And that vision is amazingly creative and it defines their wants and dreams, not needs and goals. So when you focus on wants and dreams, they're far in excess of things that you could ever imagine happening.
So, if I asked you what are your wants and dreams, you'd come up with all sorts of crazy stuff. Wants and dreams are automatically abundance focused.
But if I asked, what are your needs? And let's focus on financial freedom, which is based on needs, you'll just put down enough to get by. Just like this. Pay down your credit card debt. These are all mundane little things. Saving and invest 10% to 20%. Well, if you've got an average income of $50,000 a year and you earn that for 40 years out of your life, you've had millions of dollars flow through your hands over your lifetime. If you calculate a reasonable interest rate, maybe 4%. It's $4 to $5 million dollars that will flow through your hands over your lifetime.
And what do the financial people want you to do? They want you to save 10% or 20%. Where did all the other go? So when you understand wealth creation principles that are used by the wealthy, they maintain control of their wealth as they live their life.
I know that sounds like a lot of voodoo and witchcraft, but it can be done. And that's why the old saying 10% of the people control 90% of the world's wealth, because the 10% think differently than the 90%. When you think like a wealthy person, you're focused on abundance. It's abundance based focus.
So, when you're focused on abundance and you're going through daily routines to try to build a financial freedom world, you will not do it based on a lack based focus. So, paying down credit cards may be one thing. Being debt free is a great goal. And there's nothing wrong with that goal, but it has to be a goal that fits into your total wants and dreams. So, if my wants and dreams are to have millions of dollars and to build a business that's generating incredible amounts of money, part of my wants and dreams will be to be debt free. So if that's my focus being debt free, that will happen.
And that's financial freedom. Let's go back to the way the wealthy think years ago. They had a vision of their wealth. They had an image of their wealth. They understand what wealth looks like and they're able to create that image. It's not that hard. It's very easy to do if you know how to do it. It's very simple and it's been used for thousands of years. These principles never change. They just get buried by other people that have another agenda.
Financial institutions or financial planners will not share this with you. There's nothing wrong with working with a financial planner as long as you understand the basic wealth creation principles that financial people use, and have put together a life’s wealth plan of your life.
I recently wrote a book and you can get it at no cost just by going to whythericharerich.com and downloading it. In it you will be able to understand these wealth creation principles and how to implement them. So when you read the book, you'll understand the basic principles. If you want to go further, we've put together a workbook that you can get, so when you go to whythericharerich.com you will get an insight into how the wealthy think. We've been researching these principles for well over 35 years with unbelievable social proof.
I've been teaching these principles to my clients for well over 30 years. And we all, my clients and I have grown wealth together with amazing results. So now, I'm offering it to the public because I think that people need a chance to get out of that 90% and move into the 10%.
My goal is to make that 10% statistic higher and 90% lower, because if people understand full wealth creation strategies that the wealthy have been using for years, then you can literally sit down with a financial person and operate on above a level playing field because you'll have more insight than they have as far as the thought process before listening to them. So you'll know where their faults are and you'll be able to intercept them and not do them.
You'll know the questions to ask.
But true financial freedom is an abundance based focus. Again, there's nothing wrong with being debt free, but that has to be part of your image, part of your wants and dreams.
Now, let's separate the difference between wants and dreams and needs and goals. And I've done several videos on this, but I'll just touch on it briefly. If I were to ask you what your needs and goals are, they are baseline. They're just getting by and you would tell me what you need to pay your bills on a monthly basis.
You would probably say, well, I want to take a vacation. So, you're just planning on getting by basically. You'll achieve what you focus on. So if the rug gets yanked out from underneath you, you're in big trouble because you didn't plan beyond your needs and goals.
But, if I were to ask you what your wants and dreams are, you would come up with amazing wild dreams. I want this car. I want a Ferrari. I want a bigger house. I want to fly first class all over the country. I want to build my business and have thousands of people buying my products. Whatever it is, your wants and dreams are far greater than your needs and goals. So if anything happens to you and the rug gets yanked out from underneath you, you're not even going to be phased.
But the financial world runs around doing what they call a financial needs analysis. They want to analyze your needs.
So, they want to analyze what you need just to get by. They don't analyze your wants and dreams. They should have a wants and dreams analysis. Let's talk about what it is you want out of life. What is your daily dream? What is your daily want? And if it's to be debt free, if it's to build a strategic reserve, if it's to buy a new home, it's part of your wants and dreams.
To wrap all this up, what we want to talk about is always focusing on abundance. Our mind talk has to be abundant, Mind talk, not lack. Abundance is key to achieving financial freedom and financial freedom is possible for anyone.
You just have to have it in your image and understand what it looks like.
Thanks for reading.
Raymond Jewell, PhD
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