Your Money Journey: Lisa Sakai
Financial freedom for women over 50 isn’t just a dream—it’s a deeply personal journey that starts with defining what “freedom” really means to you.
What does being “rich” really mean to you? It’s probably different than what you think! Financial freedom and independence are more than just buzzwords. They’re deeply personal concepts.
The desire to break free from the 9-to-5 grind is a common dream. But how do you actually get there? The first step is surprisingly simple: define what financial freedom and independence actually mean to you.
The Dictionary Definition Vs. Your Definition:
What Do The Words Really Mean?
Let’s start with the basics. What do “freedom” and “independence” even mean?
According to the Oxford Dictionary, freedom is “the power or right to act, speak, or think as one wants without hindrance or restraint.” Independence is “the fact or state of being independent.”
These definitions are accurate, but they don’t quite capture the feeling of financial freedom and independence.
Why Your Personal Definition Matters:
You can’t reach a goal if you don’t know what it looks like! That’s why defining financial freedom and independence for yourself is so important. It transforms these abstract ideas into tangible targets. Instead of chasing a vague concept, you’re working towards a specific vision. This makes the journey more meaningful and, ultimately, more achievable.
“Financial freedom and independence are often used interchangeably. But they have nuances.”
Unpacking Financial Freedom And Independence: A Personal Perspective:
Financial freedom and independence are often used interchangeably. But they have nuances. Here’s one way to look at it:
Financial Freedom: Doing What You Want, When You Want:
Financial freedom is about control and flexibility. It’s the ability to live life on your own terms. Imagine being able to:
- Choose your activities and how you live your life without worrying about the paycheck.
- Have freedom from strict time constraints.
- Control your work and pursue your passions.
- Have the flexibility to be patient and do things at your own pace.
That’s what financial freedom looks like. It’s not just about having money. It’s about having the power to choose.
Financial Independence: Standing On Your Own Two Feet:
Financial independence is about self-reliance. It’s the peace of mind that comes from knowing you can support yourself, regardless of what happens. Here are some examples:
- Living comfortably off your investments.
- Running a business that sustains itself.
- Earning enough passive income to cover your expenses.
Financial independence means you’re not reliant on a job or anyone else for your livelihood. It’s the ultimate form of security.
Why Your Financial Advisor Needs To Know Your Definitions:
The Miscommunication Trap:
Have you ever assumed someone understood you, only to realize they were on a completely different page? That’s what can happen if you don’t clearly communicate your definition of financial freedom and independence to your financial advisor.
If you and your advisor aren’t on the same page, your financial plan could miss the mark. You might end up saving for a future that doesn’t align with your dreams.
Tailoring Your Financial Plan To Your Dreams:
Your financial plan should be as unique as you are. Whether you dream of starting a business, traveling the world, or something else entirely, your plan should reflect that. Different goals require different strategies. Someone saving for a business will have different needs than someone planning a five-year trip around the world.
“Different goals require different strategies.”
How To Define Your Financial Freedom For Women Over 50:
Engage All Your Senses:
What does financial freedom feel like? What does it look like? Get specific. Imagine your ideal day. Where are you? Who are you with? What are you doing? The more vivid your vision, the easier it will be to pursue.
Ask Yourself The Right Questions:
- What would you do with your time if money was no object?
- What kind of lifestyle do you want to live?
- What are your values, and how does money align with them?
- What are you willing to sacrifice to achieve financial freedom?
Financial freedom and independence aren’t just about money. They’re about living life on your own terms. The first step towards achieving these goals is to define what they mean to you. Once you have a clear vision, you can create a financial plan that will help you turn your dreams into reality. Don’t wait any longer to take control of your financial future.
Note: Investment advice offered through Integrated Financial Partners, doing business as One Vision Retirement, a registered investment advisor. The information in this material is for general information only and is not intended to provide specific advice or recommendations for any individual. Integrated Financial Partners does not provide legal/tax advice or services. Please consult a qualified legal/tax advisor regarding your specific situation.
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About the Author:
Lisa Sakai is a Financial Consultant who works with clients on Bucket List Acceleration and getting to live the life they want now. As the co-founder of One Vision Retirement, she has been working with clients across the country for over 12 years. Lisa’s advice provides easy to understand, logical steps and exercises that people can take action on right away. Learn more about Lisa Sakai here at One Vision Retirement.
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