I’m a pretty avid reader of Entrepreneur Magazine and a big proponent of people reaching financial independence. I recently read an article about financial independence titled “The Road to Financial Independence is the Road Less Traveled” by Robert Kiyosaki. Although the premise of the article is more about views of assets vs. liabilities and looking for unique ways of investing to achieve financial independence, it got me thinking about how many talented, young individuals get sucked in to corporate America with the notion they will gain financial independence some day.
Very few people make a lot of money working for a big corporation. Simply put, big corporations are generally structured to extract as much productivity out of employees while paying the minimum necessary so they don’t quit. And the employees usually don’t quit….why? Fear and risk.
Most people don’t venture out to create their own independence for one of two reasons (and sometimes both). The first being fear of failure or what if I don’t make it? The second being I don’t want to risk the limited capital I have saved if I don’t make it? (note the theme).
For most people they decide that true financial independence is “risky” and instead opt for the closest comfortable, safe cubical where their cost of living adjustment (COLA) is guaranteed. And sometimes raises don’t even cover increases in cost of living. I find it funny that so many people turn over their financial, personal, life and family decisions to….. their boss.
The first step to gaining financial independence is to decide that you WANT to be financially independent. The next step is connecting with independant peers, solid support structures who can help point you in the right direction. Smart connections, good advice and networking are the secret ingredients to set you on a course for financial independence.
My advice is to step up to the plate and swing the bat. Swing the bat again and again. Swing it hard and strong. You may strike out or you may hit a homer. Better to take a chance and swing for the fences than to stand at home base praying for a walk.
What is the worst thing that can happen if you don’t take a chance on yourself? If you don’t, you can guarantee your boss will have a cozy cubicle ready for you.
Latest posts by William Schroeder (see all)
- Perspective on Financial Independence - August 29, 2018
- My Take On: “Mentoring Somebody Who Doesn’t Know What Their Career Goals Should Be” - August 17, 2018