When you’re serious about Financial Freedom, you can’t approach your finances the same way your parents and their parents did. They most likely were like 96% of people—not Financially Free. And possibly not even Financially Secure. We need a new financial normal.
Respecting the wisdom of your elders is great in a lot of areas, but that old saying shouldn’t apply to financial literacy. The 4% understand the Game of Money and are Financially Free. So disrupt the normal, and follow their advice instead!
What About Traditional Wisdom?
As far as finances go, traditional wisdom says if you get good grades, get into a good school and get a good job, Financial Security will magically fall into your lap. Maybe this guaranteed Financial Security in the past (maybe it never did!). But this kind of color-inside-the-lines mentality definitely won’t work in today’s world.
The terrible reality is that 75% of people run out of retirement savings within the first five years. The 4% send their money out to work for them even if they continue working. So set aside the traditional wisdom, and start working toward Financial Freedom.
A New Approach Leads To A New Perspective
If you’re working through Financially Fit Bootcamp, you’re probably starting to understand the new approach you have to take toward money. You’ll find that your whole perspective on money shifts from building net worth—which is what you’ve likely been taught is the goal—to creating Cash Flow. Blindly saving or adding to your retirement account just won’t solve all your money problems.
You need a MindShift. A new approach and new perspective, and you’re on your way to Financial Freedom!
Don’t Get Trapped In The Rat Race… Escape!
If you’re stuck in “normal,” you might be living paycheck-to-paycheck, unprepared for emergencies and not sure when you’ll be able to stop working as you get older. That’s because “normal” tells you credit cards are a good way to build up your credit score and that not paying them off is okay.
Being in debt is NOT okay! Living paycheck-to-paycheck is uncomfortable. Not having a Security Buffer causes anxiety and fear of the future. You don’t have to live this way.
Take control of your finances, so you can experience Financial Security and ultimately escape the rat race. Don’t be afraid to disrupt the normal.
Erin is the managing editor of MindShift.money and the owner of Lane Change Media. As a business owner and content provider, she takes her personal motto, “Don’t slow down, just change lanes” seriously. She lives in Los Angeles and has far too many pets.