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Tuesday, 26 July 2011

Look within for financial freedom and happiness

I am not here to proselytise, but I would like to share with readers who are searching for external answers to their quest for financial freedom and happiness.

The "easy" path is to seek the external solutions like:

1) Collect more paper qualifications (note: I did not say education)

2) Climb the career ladder

3) Seek multiple sources of income

4) Trading and investing 

5) Marry rich

6) You get the point.


I guess by exploring the external route, if we "fail" or "give up"; its easier to blame others - government, foreign talent, our parents, our teachers, society; etc.


Before you attempt to explore the internal "look within" solutions, you may want to wait for a time when your heart is quiet and calm. If the heart is not receptive, our inner voice will be drowned out by the daily grind of expectations and "surviving".

Because of my zen buddhist leanings (I don't consider it a religion personally), I have a "quieter" heart. I noticed that Christian friends who are at peace with God have this inner peace too. You can try meditation or yoga if you are an atheist.

When you are ready, you may want to read the below commentary - especially on page 2:


10 traits of a successful and happy American millionaire



Your feet, your shoes, your own journey path.  (Don't ever let others tell you what's best for you - including me!)

9 comments:

  1. I like the 6 "paths" that you have pointed out. However, all of them looks difficult to me. For example, how to earn multiple streams of income if the person is already working lots of over-time and more coming?

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  2. Hello futures-explained,

    The 6 paths are examples of some the common ways most of us attempt to accumulate more money - thinking they will make us happy.

    Sometimes a perspective change is what we need:

    If we are self-employed or working for our own business (for eg, a Trader?), would we not mind over-time? It won't feel like work!

    Or perhaps the "look within" question if I were you (without knowing who you are) is who am I working hard for?

    Why do I need multiple streams of incomes if one income can satisfy all my needs?

    I am not advocating the external paths. I am questioning them :)

    ReplyDelete
  3. Hi Man of Leisure,

    Thanks for visiting my blog and trying to encourage me sometime back. Really appreciate it!

    I've some insights into financial freedom and happiness personally. I'm trying to look for multiple stream of income so that hopefully I can provide better for my family and also because wealth gives me a sense of security.

    But I must enjoy and like what I'm doing to earn the income, if not, forget it!

    I like your blog, keep it coming!

    Cheers,

    ReplyDelete
  4. Why need multiple streams? Two is enough.

    ReplyDelete
  5. Hi SMOL,

    I like this post and I like the way in which you question existing market truths or personal finance truths in order to find out more, ultimately, about ourselves.

    It reminds me of something that I've read. Do you hope that by earning lots of money and saving a lot of money, THEN you'll be financially free? Or do you have a mindset of financial freedom, THEN you earn lots of money and save a lot of money? One is talking about having a mindset first, then the reality will appear. The other is talking about making the reality appear first, then the mindset will come.

    I prefer to think that mindset must come first before reality can be changed. You must first become financially free mentally, then thoughts will translate into actions and actions into reality. It follows also that to be rich, one needs to have a rich mindset. Change yourselves first, then the environment will change around you.

    It's kind of strange that I've never had a burning desire to be financially free. I want to advance my career because I wanted to help as many students as I can. If it leads to riches so be it. I'm quite sure it definitely wouldn't make me poorer.

    ReplyDelete
  6. Unless one can move to higher up to become people managers or managers of managers; or becoming business owners.

    When you are older and older, you slowly turn into less valuable asset and become prime targets as cost cutting instrument.

    Now, when you are younger, you may want to start seriously think it over. How to?

    I don't know is this applicable to those self-employed? Does your future clients or customers see it that way too?

    It is better to err on the safe side, develop that buring desiring to be financially free asap including debt free.

    ReplyDelete
  7. the only people who are financially free are the monks who had destroy their needs.

    we on the other hand is the degree of financial un-free-ness.

    even the successful traders and investors, they too need more money for their activities, more money more trades (margin) and investment.

    how to be free?

    ReplyDelete
  8. To be financially free is when passive incomes can cover my monthly expenses.
    Looking from another perspective, if one does not need a lot for monthly expenses, then the passive income needed may be lower and financial freedom can be achieved earlier.
    But then again, circumstances and expectations change. So wiser to save more and have more streams of passive income, after all, we often do confuse between need and want. Who knows? One day some scientist may invent the longevity pill that costs millions to extend your life by a few days.

    ReplyDelete
  9. 1) Hello sm@ll.fry,

    I am "only" 7 months old when it comes to blogging. I am merely doing my part to spread the love (should say encouragement but I don't care!) and generosity other bloggers have shown me when I started out. Hey! One day you will change your nick to BigFish! All the best!


    2) CW8888 qian bei,

    You working for govt? 2 is enough sounds very similar... LOL!

    I don't deny part of my decision to walk away is my vanity to "quit" at my peak. What you say is very true. Angst about foreign talent is nothing when I see my company focusing more and more on "young" talent, "new" talent. This way, I am always "Liu Wen Zheng" (finger in mouth)!


    3) LP,

    Here's a bit of Zen for you:

    Those who are "free", don't need the desire to seek freedom.

    I envy you!


    4) Hi Coconut,

    I do not have a high regard for monks who become "parasite" to society by living off the charity of others - that's not "free from desires" or "kong" to me.

    I respect those monks who "work" for their own food and needs. I am striving hard to become a flower monk! I can't give up women. LOL!


    5) Cheers financialray!

    At the risk of becoming too cryptic and philosophical again, I often wonder:

    The wild cats that roam our HDB estates. Hungry they eat, thirsty they drink, tired they sleep. Isn't that freedom? Why do I "need" and "want" so much?

    ReplyDelete

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