Wednesday, November 2, 2011

Financial Freedom, Being Debt Free and Quitting My Job

Today, I asked myself 3 questions:

How long more do I need to achieve financial freedom?
When will I become debt free?
How long more must I work at my job?

After so many years of working, it seems that I am no where closer to my goal and dream of financial freedom (where my passive income will surpass my monthly expenditure).  I did a quick calculation and estimate my passive income to be slightly around $2800 per year.  That is much less than what I thought I would have achieved 3-4 years ago when I first started out on this journey.  It seems that I will still be taking a long time to reach my true goal of financial freedom. Over the years, my monthly expenditure has also crept up slightly.  This can only mean one thing:  I NEED TO WORK HARDER AT MY GOAL!

Being debt free of course is one of the things that I look forward to.  It simply means having more disposable income to play around with.  Of course, if you manage to borrow cheaply, it does not make sense to pay back the loans if you can get a higher rate of return compared to the interest you are paying on your debts.  However, I don't know...perhaps it is just psychological.  But being debt free is something that I hope to achieve.  Well, at least I mean clearing my bad debts (e.g. car loan).  Good debt is still welcomed.

Well, the last question that I asked myself is really related to the first 2 questions.  When I can quit my job is probably the day I am certain that I have attained financial freedom.  It is not that I hate my work or anything.  It is just that I feel I can be doing so much more with my life and time then having only remnants of my time to give to my family and friends.  

 I want to work for the rest of my life.  But I don't want to have to work for a living (a.k.a having a job). 

Time to get down to business.  


  1. Hello FF,

    I remember in my early twenties, I was fantasizing how nice it would be to strike the jackpot of either TOTO or Big Sweep. Oh how I enyy the lucky winners! Already planning I would do this do that if I won the jackpot...

    I job-hopped around and when I finally found my current company, I was so busy enjoying what I LIKED do that I forgot about my jackpot fantasy...

    It's only last year when I was searching within on my next step (when my contract end this Dec in Athens) that I realise I already have what I've been fantasizing all along!?

    I not sure whether you are a gamer. What I am trying to share is that I can play 12 hours straight at the LAN centre and feel time not enough... But try waiting for my ex who is 1 hour late is eternity!

    Have fun!

  2. Thanks for sharing your journey to FF, I have been reading your blog. I just want to share my 2 cents, remember Robert Kiyosaki's cash flow quadrant? If your main income comes from active income, no matter how hard or how smart you work you won't get financial freedom. If you are game enough for a different model in life, then see whether the idea mentioned in article below appeals to you. If you like the idea, then we should sit down and talk.

  3. Did you hear the whistle of 1st half been blown by referee? Not yet right? Still can score more goals. Try long shots?

  4. Hi ppl,

    thanks for all the encouragement!!!!!!!!!!!!

  5. I believe that the main reason most investors are not more successful is simply because when theirs and kind of panic they are unable to control their impluse to sell.


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