Tuesday, March 24, 2009

Thoughts on Financial Freedom, Success and Happiness

Of Financial Freedom

I started this blog in August 2008. The main purpose of this blog then was to chronicle my journey towards financial freedom. After much thought on deciding what financial freedom meant to different people, I decided that financial freedom for me would be simply to allow my monthly passive income to exceed my monthly expenditures.

However, I have come to realise that while this might mean financial freedom in the pure income and expenditure department, it does not necessarily mean that I will become financially "free".

What do I mean?

It means that I could actually have passive income that is greater than my monthly expenditure but still not be contented with what I have. Thus in that sense, financial freedom will become an endless pursuit, a chasing after the wind, where I will just crave for more and more money.

Financial freedom is thus also about the state of my mind. Am I contented with what I have today? Will i be contented when my monthly passive income exceeds my monthly expenditure?

Only when one is contented can one then achieve financial freedom in the true sense of the word.

Of Success

What is success to me? Is it driving a nice big car? Living in a bungalow?

I have decided that true success is being able to contribute back to society - to be able to use one's labour for the benefit of others.

True success is also about not being bothered by how others view you. Why try so hard to impress people you don't like?

Of Happiness

One can be rich and still be not happy. Thus, riches is not the path to happiness.

Instead, happiness is found in having the basic necessities, having close friends and family, and having the freedom to do what you want when you want and not be bogged down by deadlines/meetings/last minute work assignments.

Conclusion

March 2009 marks a turning point in my life as I have become much clearer about what it means to be financially free; and also what success and happiness is all about. Previously I had a vague idea in my head what all these was about but I guess that the more I conversed with people, the clearer my thoughts on this matters became.

This breakthrough in my thinking was only made possible by deep reflection, talking to close friends and also preparing to switch my job.

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