Back journeying on the blog site here for dividend investors and all investors alike. As you invest year after year, like we have, for the better part of 10 to 15 years, does Financial Freedom become a Mindset or a Milestone?
I explore what’s on my mind related to the financial freedom topic and what it may mean to me.
The Investing
First, we all start investing at some point or another, well, hopefully. If you’re a beginner investor, welcome to the blog and hope you can learn something from stumbling on our site.
However, we may not know or have a “why” to why we invest when you start out. Even after investing for years, you may not have that “why” figured out even. Heck, I’m 15 years in, personally, and my “why” continues to morph and evolve.
Second, many of us have that big milestone. Milestones such as: I want One Million Dollars! Maybe it is Five Million or Ten Million! For others, the big investing milestone could be $120,000 in passive income generated from the investments, aka cash flow.
That goal and milestone, of course changes over time, once life really settles in, such a s a family, children, tragic events and the million dollars might be three million dollars.
Third, when it comes to investing, what are you going to do once you hit your milestone? Will you keep going? Will you stop everything and just lay down, Rocky style and say ” I DID IT! “?
The milestone
Since you have that milestone selected, again, maybe it’s hitting one million dollars or five million dollars. Are you doing everything you can and planned/timed it out to get there?
I’ve been investing for 15 years and not only have my milestones changed, but how I’m getting there has changed, as well. This could be due to volatility in owning individual stocks or simply the move to more exchange traded funds or ETFs. However, the path to the financial freedom milestone has taken a few different turns, not for the worse, but just a different path.
No matter what, though, which I am sure you can agree – that MILESTONE still doesn’t change. You still know what you WANT to achieve. This is my new challenge…
What exactly will I do once I hit the financial freedom milestone? Am I bold enough to acknowledge the accomplishment? Will I hold myself accountable and admit financial independence?
My wife and I, our taxable stock account, is closing in on 7 figures. We are generating well over $26,000 in forward taxable dividends. The 25 year old me would have retired early. However, the milestone changed and the path we are has slightly changed, due to having a family, needing more space in our house (therefore – saving up for a down payment for another house) and it’s a constant path to try to reach those end goals.
The gosh damn milestone.. it haunts me, guides me and punishes me all at the same time… (insert dividend cuts, AGH). Chase and fight that milestone with vengeance… but again – is it a true milestone or does it simply become a mindset?
from Milestone to mindset
Supposed you hit the goal. You hit the milestones. You achieved the cash flow from passive income you’ve wanted. You’re financial independent!
However, what are you going to do once you get there? Do you continue to do what you are doing? Working the 9-5, the corporate job, side hustling on your nights and weekends, writing on a blog, recording YouTube videos?
OR
Does reaching financial freedom and financial independence become a simple mindset shift? Does the milestone fade and it’s really a change in mindset, a shift. What exactly do I mean?
Start making decisions that prioritizes your values, culture and paradise.
You start to be more bold at the office, making changes for the better, but leaving when your day is done – whether that is 3pm, 5pm or 6pm.
It’s working out until you feel like your body is satisfied with the work you put in. Not to be defined by a time frame of 30 minutes, one hour, two hours, etc.. It’s about feeling right.
Financial Freedom can be a mindset, but believe milestones coincide with the mindset shift. To me, it might be the tandem effort, as your mindset may not have the ability to change, until those financial milestones are hit. What are your thoughts?
financial freedom mindset conclusion
Therefore, the purpose of this post was to have you think about your investing journey. What is your why? Are you investing to achieve a certain financial target? Are there milestones that you have set?
If you have milestones, set dates to them. Set the path. However, I’m here to warn you, that path will change many times over. Do not lose sight, though, on that goal.
Then, and maybe then, you’ll see your mindset change. Do you think that’s the case? Are you financially free and you sense it more in the mental vs. the physical? Please share your thoughts.
As always, thanks for stopping by, appreciate your time – good luck and keep investing.
-Lanny