To achieve any goal in life one should have the dedication and hard work to get it in shape and further turn it into reality.
Also, it is more important that the journey to achieve the goal should be pleasant, stress-free and enjoy full so we should enjoy every moment of life.
The goal may change time to time but the way to achieve should like which can keep the mind in stable & calm condition. This will help to think & work faster to achieve any goal in life.
The thought process should be the same for achieving financial freedom also. While the journey to achieving financial freedom should be stress-free & enjoy full so while this journey to achieve financial freedom and after achieving financial freedom both should be stress-free & enjoyable.
Setting up a goal for financial freedom is necessary
To achieve financial freedom at the right age, planning and setting up a goal is very necessary which can only keep on track the goal. While setting up the goals one should analyse their capability and strength to achieve the goal so the goal can be achieved with minimum stress.
Also, mild planning to achieve the goal for financial freedom can widen the span to achieve, due to that achieving the goal at the right age may be difficult. So the goal should be reasonable enough so in the target age, financial freedom can be achieved.
The higher goal will impact our present life?
Yes if we set the goal which is not in-line with our earnings then it will create stress in our life. We need to keep the balance between our earnings & savings and this can happen when we regularly review our financial plan and do the minor corrections as per current circumstances.
But these minor corrections should be strictly minor otherwise we will not able to create corpus at set age. If there is a mismatch between our earnings and saving then we can fine tune the age limit also.
How higher goal will impact our present life
To achieve any goal we should self-analyse our strength to achieve the goal and how much hard work we can do to achieve it. This will differ from person to person. To achieve financial freedom at the right age we need to plan little hard. The higher reasonable goal may help to reduce the span to achieve the goal.
To handle this higher goal we need to prepare ourselves in all respect and focus to achieve keeping few things in mind.
- Find the ways to achieve comfortably.
- Enhance our earnings.
- Keep mind clam.
- Be simple
- Track finance by Personal Finance Portfolio
- Invest every single money.
- Keep lifestyle simple & sober.
- Avoid showing off
- Live up life with affordable things according to earnings
These things will ease the goal of financial freedom and help us to achieve journey to reach the level of financial freedom.
How to set up the goal
The way to live Life should be simple and easy, so life can be lived up with less stress and more with fun. Giving more work to the mind can stress the mind which resulting to bad impact on health.
Just getting success with stressed mind can only please spectators or others not self. Everyone has different strengths to face challenges & stress in life. One can improve to face challenges & stress in life but that has also limitation which differs person to person. So while setting up the goal we should be reasonable with us to set corpus for financial freedom which can be practically achievable.
What will happen if we set higher goal for Corpus?
If we set up the higher goal of corpus for financial freedom which is beyond the achievable limit then it will give adverse effect on routine life and many things will get effected
1. To achieve the target, generally we reduce the expenses and sometimes we stop spending on important commitments which are very necessary for the future of self & family. In long run, this can harm the interest of both.
2. To earn more, we are start giving most of the time to earn the money and then we missed precious moments to live life. As the duration to achieve financial freedom is around 15-25 years so spending most of the time to earn money may not allow doing many things that can enjoy only at a particular age. Those moments will never come back so living up the moment of life is also equally important as saving for financial freedom.
3. While saving for financial freedom, sometimes our attitude becomes miser which also not good in the long run. So it is important that our attitude should not get affected which may change the way to live life and will not allow to spend even after achieving financial freedom.
4. Just to achieve higher goals of financial freedom, one should not adopt malpractices to earn money. The earned money should be honest money and earn in legitimate ways.
We should understand that the every moment of life is important and we should achieve our goals while enjoying every moment of life and same time religiously focus on the target to contribute & invest smartly so the savings & returns will help to achieve the goal of the corpus of Financial Freedom.
In this whole span of the journey to achieve financial freedom, many times we feel that achieving a goal will be difficult due to circumstances but regular focus on the goal with patience will very much helpful to achieve it. Time will never be the same, any up-downs should not divert our focus to achieve.
Also tracking finance by Personal Financial Portfolio will very much help us to track our saving and second income from saved money. This second income will be like an additional salary other than our regular earnings. As time goes with our regular savings, this effortless income by saved money gradually increases and at point of time it will become prominent income which will keep us happy and make our life easy & stress-free.
If we plan the set target of the corpus by estimating the self-capabilities, then the plan target will reasonable and will easy to achieve.
With a cool mind and without diverting focus in any circumstances, if we regularly save & invest money according to set plan of corpus then at last we can achieve and can able to live life the way we want.