Financial Freedom is a Myth.

Financial Freedom is a Myth.

Written by Glen

Topics: Blog

I was chatting to a guy who reminded me of me 8 years ago. He is studying Entrepreneurship at Uni. I asked him why he was studying business and he said ‘because he wanted to be financially free’.

I told him he was wasting his time, and that financial freedom was a total myth.

The look on his face was hilarious, I wish you could have been there.

I said ‘look, you’re a smart guy, so I will go to the other end of the spectrum to make my point.’

I continued, ‘Take Bill Gates. Lot’s of cash yeah? Do you think he has freedom from his money? Do you think that having a mountain of cash comes without great responsibility? Could you possibly fathom the daily challenges and issues he has to deal with, simply because he has money? Ergo, do you think he has more or less financial freedom than say, someone with no money?’

Of course, I didn’t really say ‘ergo’, but he got the point. He realised he was chasing an idea that wasn’t real.
I suggested he outgrow the juvenile concept of sitting on a beach sipping mojitos as the cash rolled in and start thinking about how he can add real value to the world. Value that he would be committed to giving regardless of the degree of support of challenge (financial or otherwise) he faced on the journey.

I mentioned some iconic entrepreneurs and reminded him how they all faced massive obstacles that would have overwhelmed them enough to quit had they only been in it for the money.

He said ‘… so chasing the fantasy of financial freedom actually binds people to financial servitude’.

I asked him what he was going to do with this new perspective.

He said ‘I have to go tell my dad…’

Food for thought. And be careful what you wish for.

(if you like it, share it!)

Cheers,

  • Jan Polak

    Love it.

    The simple concepts we learned, take for granted and adopt as our goals seem to be the most harmful.

    What I’d add to financial freedom is the skewed concept of Passive income – just ask any business owner or property portfolio owner how passive they are and what happens when they don’t manage their assets well or the asset markets turn. But that’s for a another conversation.

    Please, keep on posting. I truly enjoy how insightfully you can articulate varying ideas and share your experience.

    Jan

  • http://www.twitter.com/richinspiration Richard Holmes

    Nicely said Glen!

    :)

    Richard

    PS I would’ve shared via the twitter button below, but it copied the whole post and not just a link to my twitter account.

  • http://www.businessbackpacker.com Brooke Ferguson | Business Backpacker

    Nice post Glen :)

    I’m glad you didn’t say “Ergo” lol. I think one of the best ways to have financial freedom is by sharing your value with the world. And, then you can have the best of both worlds.

    I’m staying in a beach front bungalow now and was sipping beers on the beach last night after a day of climbing and watching the sun go down with new friends. I think the “new financial freedom” is being able to pursue your passions, share them with the world, and live your dream at the same time.

    Cheers :)

  • http://glencarlson.org Glen

    Hi Brooke,
    Hi Brooke, cool website :)

    Shame so many people wait to become ‘financially free’ before they go make their dent in the universe eh?

    Glad to see you’re not one of the timid.

    How long have you been in Bali?
    I was there for 2 years… one in the Bud, one in the Yak.

    Did a little lifestyle redesign myself :)

    Rock on.

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