Financial freedom is a journey and not a destination

Life is about processes and journeys rather than a destination
Some of my readers may know that I am an avid toastmaster. You get to learn many things at toastmasters meetings and one of them is that life is about processes and journeys rather than destinations.

The toastmasters experience too has been described by many toastmasters both old and new that it is a journey. In the spirt of lifelong learning, the old adage in mandarin, "活到老学到老" (as we grow older, we continue to learn), rings true in any worthwhile human endeavour.

And so it is with financial freedom. Many of us see the end point or the destination of this process of financial freedom as being able to quit our jobs and do what we REALLY want in life instead of our work and business. The absurdity of it all of being in a rat-race is that we trade our time for money and use the money to buy back time, all the while forgetting that it is the experiences we gather through the journey that is life, that is living.

That is not to say that intermediate milestones are not useful in allowing us to consider how far we have moved along this journey for financial freedom. Setting targets and destinations focusses the mind and the will. But it is equally important to enjoy the process that leads us towards financial freedom.


The journey is preceded by what we first see in our minds
I see this journey towards financial freedom as a continuous process. I do not think there will ever be a time that I will say, I have "made it". In my journey, I have managed to reach some intermediate goals which become the stepping stones for even more exciting journeys in allowing me to have a measure of my finances.

One of the critical intermediate goals I have set and achieved is to own my home by fully paying off the mortgage. The satisfaction that I get from achieving this is starting to permeate through my consciousness. My debt-free status allows me to have a quiet sense of confidence about my financial situation. To know that for once in my life, I have one firm hand on the steering wheel of my financial life. I can now truly say that I work for my family and for myself and am not an employee who works for the bank. I can truly say that every dollar that I earn now goes towards accumulating my retirement fund and not towards paying off interest and debt. I can truly say that I am not a slave to my job.

Can I quit my job now and live off my accumulated capital? Of course not. Not at this point in time. I still need to work a good 10-15 years more as my living expenses will increase with a new addition to the family. However, I now can say that whatever I invest in my family is for them. It goes into building up their financial assets for their future prosperity and not to repay the consumption that I have taken up today.


Liberation and release is part of my journey
Just as my full-time national service run-out-date was one of the most liberating moments in my life. My release from long-term debt ranks up there along with my completion of 10 years of reservist service in the Singapore Armed Forces (SAF) resulting in me being transferred to Mindef-Reserve (MR) status.

While your day-to-day life may not change, it is really the knowledge that you are rid of a BURDEN that stays with you in your heart. When I relaxing at home in my place, I can finally say that is is MINE instead of being subject to all the legal claims by the banks, CPF etc. if you cannot service your loan. Just like my status as a civilian in Singapore, the SAF cannot touch me short of wartime operations and the feeling is priceless. No amount of money can replace that feeling of having done my duty and not be bothered by the State's incessant meddling with my life!


Liberation and release is within your grasp too
I encourage you to continue to be disciplined, to continue to save, invest and pare down your debt even as you maintain your standard of living. Invest in your health too as our quality of life is strongly influenced by good health.

Live and enjoy life.

Save and invest, but also spend on the things that matter to you.

Ultimately, we choose how we want to travel on this journey. Aggressively, conservatively or passively. Choose based on your own values and principles.

Be well and prosper.