Part 3: Goals or What the heck is Financial Freedom in my case, exactly?
3.1 Get clarity on what you need and want in life
Part of growing up into an adult is knowing what you need and want and knowing the difference. Investing starts with saving money. But saving and investing for what? Not having clarity on this means you are likely to spend on things that give you instant gratification but mean little after an instant. How are you going to stop doing this?
By the time we are about 18 years old, the official age to be called an adult we all face the problem that Alice faces; what do we do now that we’ve ‘grown up’, what do we want to be, to become? The dreams that we have while growing up were fun, but soon its decision time.
Some decisions take us down a path from where it becomes difficult to change course, eg choosing what to pursue as higher studies opens up some career choices but also virtually closes others. But we can’t keep our options open forever, we are required to take the decision by some deadline.
Fortunately, you have a little more flexibility with investing and we can shift the money invested for one goal to fund another and build a revised plan. However, you need to be investing to begin with, investing ‘adequately’ and as the Cat said investing long...........Read More
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