7 Reasons Why You Should Want To Be Financially Independent

The research question that I plan to dive into is why should people like you and I want to become financially independent. I am writing about this topic because I believe the importance of this matter holds more to it than just the money aspect. Our education system failed and still fails to teach us how to properly manage our finances, build businesses, and grow our wealth, so we must learn finances on our own time. The problem, financial illiteracy, is what is causing many people to lose hope in the dream lives they want to have. I want to solve and provide information, through this project, on why it is important to use and manage your money properly. Time, comfortability, as well as generational wealth, are some of the main key factors as to why it is important to become learn how to become financially independent.

1. More Free Time

You are given one life, and one life only. Time is so limited and time is not promised to anyone. Nobody knows the length of life that they are given. Let’s say that the life expectancy is 90 years. Nobody wants to spend 80% of their life working their butt off to not experience the life that God has graciously given us. Everyone that has worked a J.O.B knows that working STINKS. Just imagine a life, where you had worked super hard, managed your money properly, and you are now living the life that you had dreamed about. Working less, having more fun, and having more time. THAT is what financial independence (FI) is.

2. Security

Once you achieve the status of being FI, you now possess more safety from different types of events that can occur to you. Let’s say your car breaks down or has some problems with it that will cost a lot of money. Or, you get fired or laid off from your J.O.B. Having extra money on the side that you can use to pay off some of your liabilities and expenses makes you feel less stressed and gives you more of a secure feeling. Having issues paying off things isn't fun, so work to become FI, so you don’t have to worry about how you're going to pay an expense.

3. The Lessons You Learn Along The Journey

Everything in life is challenging, but only you can define what and what isn’t challenging. The most challenging parts of life tend to be the most rewarding after a situation is deciphered successfully. You aren’t going to become FI overnight, however, over some years you definitely can be. It all falls back onto how bad you want it. I myself have a goal in mind, and I’m doing everything I can to position myself closer to that goal of FI every day. The destination is desired, but the lessons that come alongside the journey, are much more valuable than just having money stashed away.

4. Comfortability

Your physical, mental, and emotional health are all very important in your life. When one is down, all three seem to follow along. But imagine if you were comfortable with yourself in all aspects of your life. You can go to bed at night without having to figure where your next meal will come from. You can finally sleep because your thoughts don’t drown you into a depressed state due to the lack of money you have. Overall, you will be happier and will share positive emotions with others making them happier. FI offers that comfort that many people wish they could have. It’s tough at first, but very rewarding once you’ve crossed the finish line.

5. Freedom of Choices

Most people who want to achieve FI, like myself, want to retire early. I personally believe that retiring early is more important than retirement itself. Having that choice to retire early is cool, but imagine having the choice to go work at a charity, or go partake in golf tournaments every week. Imagine you’re at work one day and you decide that you’ve had enough of it, and you KNOW that you are free to do so. There has to be no better feeling than to be able to do whatever and whenever you want. FI is almost like being a child again. You can have fun, not worry, and live life the way it was supposed to be lived.

6. Ability To Take On More Risk

Let’s just say that maybe your J.O.B wasn’t your actual true calling. With being FI, you now possess the ability to take more risks. For example, with all the money I had invested and saved, I decided to take a break from working for a year. With the money that I had managed “properly”, I was able to take that time off and was able to try new skills and venture on to newer things that I haven’t attempted before. I started my own football coaching business that made significantly less than my previous J.O.B, and I still traveled more than I had ever had before. That is FI at its finest.

7. Retire When You Want

Retirement is my number one motivator when it comes to FI. I have observed multiple friends and family members pushed into retirement because of health problems even when they weren’t ready due to their financial situation. You can always find income, but can never find another life. I want to be able to retire on my own terms and not have to work until 70 while I slowly tear away at my body and soul. Don’t put yourself into a position where you NEED to work until 70-80, just by chance you aren’t physically capable of doing so.

Conclusion

The listicle provided discusses reasons as to why everyone should want to learn how to become FI. Money isn’t everything, but don’t get me wrong, it sure can pay for your medical bills, your daughter's wedding, or a new car for your son's 16th birthday. With people possessing the knowledge on how to properly manage their money, there can be a lot of upside to not only your own personal life but to others as well. Imagine as a society that we were open with each other on how to invest, save, and consume wisely. Firstly, I believe the poverty rate would be a whole lot lower than it is now. Lastly, people will finally understand how important money is and how the “green tool” can really help you more than hurt you.

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