What is the Cost of Financial Freedom? - She Buys It (2024)

What is the Cost of Financial Freedom? - She Buys It (1)

What is financial freedom worth to you? Are you seriously looking forward to decades of the rat race you currently work with your 9-5? Or are you chomping at the bit to get out of that spinning wheel, and truly live the life you have always dreamed?

Today I want to discuss getting you to the ultimate joy of financial freedom; the kind of joy that comes when your reality matches your dreams.

There are some very straight forward aspects to financial freedom to keep in mind. I mean, finances are basically just simple math, but the path you choose to follow to achieve your freedom is up to you.

Of course, I have my preference, and I will definitely share that with you, since it is exactly how I quit my 9-5 (actually my 9-9) and began a whole new kind of life freedom!

Let’s get to it…

What is the Cost of Financial Freedom?

Do you know how much money you really need in order to live from month to month? Is it the amount that you make right now, or is it more?

I have an assignment for you: I want you to figure out exactly how much money you need to have coming in each month in order to replace your current job. Include everything: mortgage, utilities, gas, food, restaurants, clothing, entertainment, subscriptions, prescriptions, car expenses, vacations, etc. EVERYTHING.

Ok, so, what’s your number? It might be $5000. But, it could be even $10,000 or $15,000. It does not matter.

You want to have a crystal clear idea of exactly what you need to have coming in to provide you with the lifestyle to which you are accustomed. The first step to financial freedom is replacing your current income source with a passive income source. But, in order to do that, you need to know the numbers.

Now, let’s say that your number is $10,000 each month. If you were working 40 hours each week that would amount to about $2500 every week.

But, what if there was a way for you to make $10,000/wk in about 5 hours?

I know, it sounds too good to be true. But, it isn’t. Hear me out.

This is exactly what I do with real estate investing. I got myself out of a dreary desk job working twelve-hour days to now having the time of my life with my husband and family. This world is the best thing I have ever known, and it is why I now teach other women to do the exact same thing.

I saw the need that so many of us women have to become financially independent and stable. While I tried several other opportunities to build my wealth, this is what was ultimately successful to establish financial freedom and build my wealth.

My flagship program, First Deal Done Fast (FDDF) provides strategies to teach you how to make $10,000 a week by going out and talking to sellers, or helping sellers get rid of houses they don’t want.

Another option is to buy apartments to create that passive income source. Let’s say you have a complex with 20 units, and you can make $500 extra every month from each unit.

That’s a passive income that came from one-time efforts and pays you forever.

Real estate investing is a phenomenal tool to create financial freedom with minimal hours and a basic understanding of simple concepts. You don’t have to be an agent, either. The only thing you need is some education and you are off to the races.

For many of my readers, you have already been investing in small-time opportunities. Maybe you already have some stocks, gold, coins, single units, etc., but it is time for you to step it up a notch and get into the big leagues. If you are serious about creating financial freedom, this is how it is really done.

Real estate does not care who you are; it does not care about your gender, nationality, race, or anything else. Once you have done the work to make the deal, it just spits money back at you. Period. That’s just how it works.

So, tell me, what would your life look like if you were making $25,000/mo or more? It takes work, don’t get me wrong.

I never said real estate investing was easy; I said it was worth it.

Real estate is the fastest way for a woman to make real wealth today! It doesn’t happen overnight, and it does not happen without some serious work, but in time, you will wake up and just think “Holy s#%^*, that’s a lot of money in my bank account! I am SO glad I’ve been working my tail off on this!”

What is the Cost of Financial Freedom? - She Buys It (2)

When you plant those seeds – when you approach a seller, close the deals, up the rents, flip the kitchen, repair the water leak – you are making a way for your financial garden to eventually bloom and prosper. The day you plant the seed is not the day you harvest! Yes, you will need to tend to things regularly, and take care of your financial plans, but if you do the work it will one day bless you in return!

Your financial freedom is entirely dependent on the seeds you plant and how well you nurture your financial garden. If you are diligent, dig in with GRIT, and do the work, your future will be paved with peace and abundance alongside a nice passive income. Now, what you do with that is up to you, too, but you will have the finances available to make some serious life choices.

So, let me as you this: what would change in your life if you did not have to work your regular J-O-B anymore because your bills and living expenses were covered?

What are your goals? Dreams? Ambitions?

If you could take a month off of work and could just work on your own vision for your life, what would it look like?

I want that for you! Your dreams and vision are valuable, and worth so much more than those 160+ hours that you currently spend on your employer’s vision and dream.

The question remains: What are you going to do to create your financial freedom?

Are you going to jump in and learn about this amazing opportunity called real estate? Or are you going to make excuses, sing your fear song, and choose to stay stuck?

Ultimately, you are the only one who has the power to change your life and create your financial freedom, but you have to be willing to step out onto the edge of change and jump.

So…what’s it gonna be?

What is the Cost of Financial Freedom? - She Buys It (2024)

FAQs

How much does it cost to reach financial freedom? ›

Americans say they'd need to earn about $94,000 a year on average to feel financially independent. That's about $20,000 more than the median household income of $74,580.

What is the value of your financial freedom What does it mean to you? ›

Financial freedom is a state where you have complete control over your finances, allowing you to make choices based on your desires and goals rather than being limited by how much things cost. It means having enough income or savings to cover your expenses, giving you the freedom to live life on your own terms.

What is the equation for financial freedom? ›

Financial Freedom = Passive Income > Expenses

Your road to financial freedom can take a very, very short time… if you know what you're doing.

What is your idea of financial freedom? ›

Financial freedom means you get to make life decisions without being overly stressed about the financial fallout of those decisions. That's because you're financially prepared for whatever life throws your way—you have no debt, you have money in the bank, and you're investing for the future.

What is an example of financial freedom? ›

Everyone defines financial freedom in terms of their own goals. For most people, it means having the financial cushion (savings, investments, and cash) to afford a certain lifestyle—plus a nest egg for retirement or the freedom to pursue any career without the need to earn a certain salary.

Can I retire at 40 with 500k? ›

The short answer is yes, $500,000 is enough for many retirees. The question is how that will work out for you. With an income source like Social Security, modes spending, and a bit of good luck, this is feasible. And when two people in your household get Social Security or pension income, it's even easier.

What are the three main ideas of financial freedom? ›

Imaging the freedom you could have!
  • No credit card debt.
  • Savings and investments happen automatically.
  • Spending is clear.

What is the most important goal of financial freedom? ›

The most important step toward achieving financial freedom is to take time to establish what your ideal financial life looks like. Having clarity on why you work so hard and what you are working towards means you can make conscious decisions that will align with your unique financial journey.

What are the 7 steps to financial freedom? ›

How to Achieve Financial Freedom
  • Clearly Define Your Financial Goals. Start this process by clearly defining your financial goals. ...
  • Track and Analyze Your Spending. ...
  • Create a Budget. ...
  • Pay Off Your Debt. ...
  • Start Investing. ...
  • Create Multiple Streams of Income. ...
  • Save for the Future.
Jan 24, 2024

How much should I save for financial freedom? ›

The rule of 25 says you need to save 25 times your annual expenses to retire. To get this number, first multiply your monthly expenses by 12, and then you'll have your annual expenses. You then multiply that annual expense by 25 to get your FIRE number, or the amount you'll need to retire.

What is the formula for financial value? ›

Key Takeaways

The present value formula is PV = FV/(1 + i) n where PV = present value, FV = future value, i = decimalized interest rate, and n = number of periods. It answers questions like, How much would you pay today for $X at time y in the future, given an interest rate and a compounding period?

How does financial freedom change your life? ›

You can choose the job you want. You can buy the things you want. It also gives you the freedom to make choices based on long-term outlooks. Financial freedom gives you a fresh perspective on life, so you can make decisions based on your values, lifestyle, and life goals rather than purely on money.

How to grow financially in life? ›

7 steps to financial stability
  1. Invest in yourself. Having further education, more knowledge, and required skills for work can support your career advancement. ...
  2. Make money from what you like. ...
  3. Set saving and expense budgets. ...
  4. Spend wisely. ...
  5. Set emergency fund. ...
  6. Pay off debts. ...
  7. Plan for retirement.

How to start over financially? ›

Starting Over Financially After Bankruptcy, Divorce, or Unemployment
  1. Find Work You Love.
  2. Tighten Up Expenses.
  3. Build Your Emergency Fund.
  4. Use Your Employer Match.
  5. Consider a Roth IRA.
  6. Avoid Big Investment Risks.
  7. Consider Buying a House.
  8. Don't Take Social Security Early.
Jan 4, 2022

How long does it take to achieve financial freedom? ›

Common personal finance wisdom says to save 10% of your earnings with every check, but you'll have to get much more aggressive than that to achieve financial independence in just a decade. “Aim to save a significant portion of your income, at least 50% if possible,” Standberry said.

Who is eligible for freedom financial? ›

Only unsecured debt can qualify for the Freedom Debt Relief Program. This means debt like credit cards, unsecured personal loans and medical bills. Debt that is secured such as a mortgage or an auto loan is not eligible. To qualify for the program, you should have at least $7,500 of unsecured debt.

What is the average age to get financial freedom? ›

45% of young adults say they are completely financially independent from their parents. Among those in their early 30s, that share rises to 67%, compared with 44% of those ages 25 to 29 and 16% of those ages 18 to 24.

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Name: Gov. Deandrea McKenzie

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Introduction: My name is Gov. Deandrea McKenzie, I am a spotless, clean, glamorous, sparkling, adventurous, nice, brainy person who loves writing and wants to share my knowledge and understanding with you.