Financial freedom is the ultimate goal most of us are working towards.
What are the most common mistakes holding us back?
Let’s explore how to avoid sabotaging ourselves in our financial freedom journey.
This post was written by a Financial Horse Contributor.
1. Not having a clear end goal
People tend to think about retirement and financial freedom in a vague way.
If there’s no concrete goal, and a general timeline, it’s very difficult to achieve it.
Small milestones along the way help keep you accountable and motivated.
Some questions to ask yourself:
What kind of retirement lifestyle do I desire? What kind of career path do I foresee? What age is my ideal retirement age? What kind of plan do I have for my property (sell/downgrade possible)?
2. Letting your money just sit there
One of the biggest money mistakes that is sabotaging financial freedom is lett
Millionaires focus very much on growing their money 24/7.
Wealthy people are hyper focused on never letting their money sit idle.
Money management is purposeful.
This means creating multiple income streams, accumulating assets that generate passive income, and making sure thier money is growing.
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Practically speaking, this means that you should always be actively managing their money.
Being aware of your incomings + outgoings, so that you know your money is wisely accounted for.
Additionally, making sure government benefits like CPF/SRS is being maximized.
Check out our CPF/SRS guides:
All of these steps are critical to advancing
