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Financial Freedom

Why is it important to be financially free?

Do you value “freedom”? Most people say with a resounding “Yes!” Who does not say that “If it was not for….then I would do …”. Freedom is exhilarating, liberating, and for some, sometimes a scary feeling. A large % of people living and working in Mumbai and Delhi have reached a conclusion: That their lifestyle and costs require them to devote 12 hours a day (including commute) to just lead a decent life. Typically 7am to 7pm. Is there an alternative? We at AZAD define ‘financial freedom’ as – the state when your “passive income” is more than your living expenses. “passive income” is income you earn without working. Financial freedom means that one does not have to work to live well. One chooses to work. And more importantly, one chooses the kind of work that one wants to do. Re-read the above and think for a moment. Imagine the possibilities that this state of “financial freedom” unleashes. Financial freedom gives you an immense sense of security and well-being. As we all know, most of the stress in today’s world is due to uncertainty and psychological. If your mind knows “I will still lead a decent life, even if I lose my job”, one is calm and unruffled at work. Financial freedom ensures you can pursue the kind of job/career/business/work that you want. The Internet era has created possibilities that were not existing before. One can do part-time, freelance, work from the remote location, start a small business, be a consultant or a teacher, do socially meaningful work. There are so many options instead of the routine 9-5 job at one place. Apart from work, Financial freedom gives you time and money to follow your dreams – hobbies, travel, family and all the things that bring you joy. Financial freedom mean “azad panchhi” or “free bird”. You can fly anywhere you wanted to. Top five things people want to do if they had enough money to take care of their needs:

  • Start a business
  • Become a freelancer. Work part-time.
  • Travel.
  • Indulge in hobbies
  • Spend more time on family, health, rest and recreation

What financial freedom is not:

  • license to spend luxuriously
  • unlimited money
  • wealthy rich
  • retirement

Many young professionals are opting out to become financially free so that they can escape the tyranny of boring jobs. In fact, in a survey 70% of office goers said that they would opt to do something else if they were not dependant on their salary. Most people in the earlier generations worked through their lives to earn enough to support a comfortable retirement. Financial freedom is not retirement. In fact, most financially free people I know are the most active at work and around their house. We live at a time where there are superb opportunities all around for our growth and personal development and enrichment. Why waste time and miss out on this? Decide to be financially free. Start today!

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