The Asteroid Files #4 | How I Approach Financial Freedom
The Asteroid Files are an archive of my detailed, real-time accounts as a cryptocurrency trader. I am not one for posting frequently, but a friend told me to do a fun little series on how I trade, what I trade and why I trade. Maybe this could turn into something fun. Maybe not.
Either way, I'm going to enjoy myself and tie in some fun science fictiony type of stuff with my daily trading endeavors.
Hopefully I can either bring some direct value via entertainment or my sheer trading awesomeness. Regardless, anything you read in my files are not to be taken as financial advice, as that would be wildly irresponsible.
Invest at your own risk and seek help if you are not experienced. My posts are for entertainment purposes only, especially considering that the title of this series is about asteroids which has absolutely nothing to do with trading... or does it?
Gain a Decisive Victory Over the Enemy
Financial freedom does not mean scraping by. I could get by on $1,200 a month or $1,400 a month. I would even consider $1,500 “getting by” even though I am reinvesting $100 into more income streams.
Though it’s that last part that changes the definition of “getting by”.
Having extra income left over each month to invest in more income each month is what gains a decisive victory over the enemy.
The enemy is simple. The enemy is a job. It’s not having the freedom to pay your bills from your income streams.
If you just scrape by, then you’re stuck in a pushing battle with the enemy. You’re just pushing the enemy back 1 more month as you just “get by” on your income.
This is not financial freedom to me. This is simply survival.
Financial freedom to me means that you are decisively trapping and defeating the enemy each month.
It means that you are not only making enough income to survive… but you are actually making a significant amount of “extra income” which is used to diversify and build a bigger portfolio of income streams which in turn, makes your victory more decisive with each passing month as you can grow your income streams in a compounding manner.
So in my definition of financial freedom, it means having an extra 30-50% of your monthly living costs in extra income that can be used to diversify and build your income even more.
So if your survival income is $1,400 a month, then you should be earning an extra $420-$700 a month in extra income that is strictly used to further build your income streams.
How does this play into your life? What do your numbers look like?
Are you actually living this? or are you letting your ambitions fade away?