Creating Financial Independence

What do I mean when I say ‘financial independence’?

It could mean having enough money to retire early, creating a savings fund, or being able to buy a house. In truth, financial independence is unique to each of us. What matters to my family and me might not resonate with you and yours.

Your reasons for wanting to be financially independent will matter to you on a deeper core level. Perhaps you want the freedom to travel or take regular holidays. How about earning enough to feel comfortable or not have to dip into the savings if the washing machine breaks? Would a new car make all the difference to your life?

Whether it is debt-free, funding your current lifestyle, not relying on loans or family assistance, having an emergency fund, or watching an investment grow, your goal will have an emotional attachment.

Are you simply spending your money reacting to your day’s events, or do you think things through with care? There is a psychological connection between your emotions and your finances, and recognising this allows you to plan effectively.

Understanding that your financial goals and your life goals are one and the same is the best starting point for establishing a solid financial future.

How easy is it to create financial independence?

There is no quick fix for financial independence unless you win the EuroMillions of course, and even then you would need guidance and a plan of action! To become financially self-sufficient, you need to ask yourself a few essential questions.

  • What is important to you in your life right now?
  • What about in your future?
  • Why is it so important to you?

Identifying what you need to put in place to achieve and maintain the lifestyle you and your family want is vital to creating that financial independence.

It’s essential to start with where you are today and then look at where you want to be in the future. Grab a piece of paper and jot down all your dreams that require financial funding. Some of your goals may take more planning than others, but without doing the groundwork, you’ll never be able to understand the impact achieving these goals will have on your life.

You can read more about creating financial goals in my article, Planning for Short, Medium, and Long Term Financial Goals.

Working out your goals is only one step. You will also need to recognise how and when you spend your money and where you can make adjustments. Budgeting and saving are key elements of becoming financially self-aware, but you don’t have to figure everything out yourself.

What action steps can you take today?

Helping you live for today and plan for tomorrow is what Brazil Financial is all about. We give our clients more than simple advice on their financial situation.

Our holistic approach includes mentoring to bring together your financial and life plans and guide you on your journey to financial independence. We are with you every step of the way.

We aim to inspire people through a mix of financial planning and coaching to make positive changes in your life. Using our DREAM methodology, we look at your finances from your values, dreams, and objectives.

Our Life Without Limits programme was designed to help you understand more about your financial goals.

Discover – Where are you today, and where do you want to be in the future?

Realise – Identify your priorities and visualise your goals

Everest –There will be challenges, but we help you overcome them

Action – Agree and implement the financial plan to get you to where you want to be

Mentorship – Bringing together the financial and life plans of you and your family

If you’re ready to create financial independence and live the DREAM, get in touch for a chat

What next?

Create your own ‘Life Without Limits’ with Rory, Ireland’s first Registered Life Planner RLP® and Certified Financial Planner (CFP®), to discuss how his DREAM programme can shape your future and allow you to create financial independence.

Financial Life Planning sessions are conducted face to face or over Zoom/Skype/Teams. Book your call today HERE.

Posted on September 14, 2021 By Rory Brazil