This long weekend, its Canada Day (July 1st) in Canada, and Independence Day (July 4th) in the United States of America!
The long weekend always reminds me of the goal of financial independence. Every July 4th holiday weekend, I ponder about how many more July 4ths (Independence Days) will pass until my own Independence Day arrives. Not many, I hope.
Financial independence has a different meaning for each person. For some it may mean not having to worry about how you are going to pay the bills. To others, it may mean not being at the mercy of a company (who will likely lay you off to outsource).
To me, being financially independent means having the freedom to do whatever I choose to do each day. It also means that I would not need to worry about money. Money itself is not important, but it is very necessary for sustaining life in the modern world in which we live. However, being financially independent means that I do not need to rely on the system, nor be burdened by it.
Spending time with those I care about, improving my well being and the life of those around me, learning things that interest me, sharing knowledge, etc., are priceless and cannot be replaced. Each day that do not spend doing those things, are days I can never get back. Unfortunately a series of serious life events over the last 10 years of my life, have continually heightened this issue. It is the reason I invest to become financially independent as soon as possible.
Start thinking about your Independence Day!
Take 15 minutes this weekend to focus on one single action that will help bring you one step closer to reaching financial independence, and start it! Here are some ideas:
– Create a budget to track spending (find out where all your money goes).
– Reduce discretionary spending (set a specific limit).
– Eliminate credit card debt (set a specific date).
– Bring your investor knowledge & skill to the next level. Usually, this entails picking up a book that may change the way you see things or how you make decisions. Here are a few books that will help you do that:
– The Intelligent Investor (Benjamin Graham)
– The Snowball: Warren Buffett & The Business of Life (Alice Schroeder)
– American Economic History (8th Edition) (Pearson Series in Economics) (Jonathan Hughes, Louis Cain)
Thanks and Happy Investing! – The Investment Blogger © 2011