I've been evaluating my current situation as of age 20 for some time now. Like most young people I guess I do have a desire for a high net wealth, but not for the reasons most others my age desire it.
I could care less about fine clothes, expensive cars, houses, or such. I mean, toys are fun, but thats all they are. The cheapest rent I can find in NYC is $895 a month: that suits me just fine. My closet is denim. I do not own a car.
What I want from life is freedom, pure and simple. Concert in LA? Go there. Aid work in Africa? Do it. And I enjoy music: cant sing worth ****, but I enjoy understanding it. I like good literature too.
But that all requires money, and money requires some form of occupation. Named so because, well, it takes time. And most occupations take up ALL THE TIME A PERSON CAN HAVE.
I am currently in the works for degrees in finance and accounting. But I am not sure if a careerists life is for me. Any ideas here?
Answers:
start your own business
make a tv show of what you do in life
I think the fastest route to your goal is to live frugally and to not get married or have children, to have a good paying job for 10 or 15 years, and to live somewhere cheaper than NYC. You could probably pull off financial freedom with those, but I don't think you could possibly afford to jetset here and yonder. In several more years gas prices are going to go out of sight, especially so if we continue switching to ethanol.
I know how you feel. You picked some top dollar degrees. The fact that you are working for business degrees opens the doors for alot of grand opportunities. You could travel to Africa for something related to business. You could be an accountant for a musician and enjoy their concerts. My advise to you is to get those degrees and work them in to what you really enjoy. Then it wont seem so much like a "job". And there's nothing like making money doing things you really enjoy. The other option is to work til you have enough money to do whatever you want. That may take a while tho. Good luck to you.
I know exactly how you feel, I graduated college about a year ago got a great paying job but was unsatisfied. I cared more about my personal freedoms than money. I could care less about money all I care about is being able to wake up and not have to do something for someone else.
I've spent forever reading books etc about financial independence and in a nutshell what you need is for your assets to be higher than your expenses. Assets are things that generate revenue for you without you doing anything. Depending on how much money you have available and how much you spend to live at a comfortable level this may or may not be really difficult or only somewhat difficult. People who tell you to be frugal aren't quite on the right path what's important is that you continue to invest in things that produce income for you rather than takes it away from you. It's too large a subject to get into just keep it in mind.
In the meantime you should try to find a job that gives you the freedoms you want as much as possible. You can work happily for several years while attempting to create something you really want to do or continuing to invest into assets that do or will produce future income for yourself. Unfortunately if you're flat broke it's a difficult thing to do but if you're commited you'll find a way.
ps in attempting to save money learn the tax system and all of the loopholes that are in it. Starting your own business even if it doesn't make as much money as your salary can be just as lucrative if you do it right and will allow you more personal freedoms. eg your own business that produces 60k per year can make you a lot more money than a job that you get paid 60k per year from.
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