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Financial freedom and retiring early (Fire); and why people do not attain it by gbenga

View this thread on steempeak.com
· @gbenga ·
$6.77
Financial freedom and retiring early (Fire); and why people do not attain it
There is a word in the mouth of so many people and that word is FIRE (Financial Independence and Retire Early). This is one thing a lot of people plan for themselves, the ability to be financially free and retire early and the believe for this to come into existence is working tirelessly at a very early or young age and do not have to work very hard in their old age. This has worked for a lot of people and it has now become a thing of believe for every young person.


![5d72a9b92e22af55e77efb82.jpeg](https://cdn.steemitimages.com/DQmNg1aDy4sHqWRfUJFMkLGzq8chsnWE6jvvrt2WJQCBxSd/5d72a9b92e22af55e77efb82.jpeg)
[Image Credit](https://www.businessinsider.com/personal-finance/lessons-from-financial-freedom-book-grant-sabatier?amp)



This act of working hard at an old age or even till the day of death isn’t a news to people in the labor force, as it is visible that for a person who’s being paid the minimum wage might not have the luxury of seating by the beach and enjoying their retirement but is it possible for everyone to enjoy a long lasting retirement with financial independence?

What is financial freedom? To a lot of people, this phrase has different meaning, but I will say what I believe to be financial freedom. Financial freedom is a period when the income from an investment is above the expense of the person. With this, it is possible that a lot of people have attained financial freedom without knowing that they have achieved it.


![Jail-528x377.jpg](https://cdn.steemitimages.com/DQmVrTR3CRfxkruoTBQnXaeqWA5DGxdAdeBHh1vj7NaxJHw/Jail-528x377.jpg)
[Image Credit](https://www.clearlysurely.com/blog/educate-yourself/if-financial-freedom-is-not-possible-avoid-financial-prison-first/)




Why do a lot of people not attain financial freedom? To so many people, it is believed that income is the reason why they cannot attain financial freedom while some people say that attitude towards handling finance is what has made some people unable to attain financial freedom. What do you think is the real problem for people attaining financial freedom?

If we are looking at investing with interest of 8% - 10% and an inflation of 3%, can someone become financially free if their expenses are below their income? Does it matter if one is receiving salary and wages or if one is investing in stocks.
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 185 others
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@worldfinances ·
@tipu curate
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@tipu ·
<a href="https://tipu.online/curator?worldfinances" target="_blank">Upvoted  &#128076;</a> (Mana: 0/1) <a href="https://tipu.online" target="_blank">Passive income with @tipU</a> :)
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@reinaldoverdu ·
To invest you have to do a lot of research, although I think it is always a good idea to do it in properties,that are rarely devalued and can always be rented, upgraded and sold
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@gbenga ·
Your point is a great one friend thanks a lot for reading.
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@worldfinances · (edited)
Very good question. But REAL inflation is much higher than that. Last time I checked it was around 9% in US and around 7% in EU. I don't know the data for other regions. This % includes everything usual Jack and Jane need for their life, all expenses. Main problem is...people still believe that politicians will save them :) And lack of their knowledge how central banking and politics always work together.
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@lbarbera ·
I agree. The cold truth is, people believe democracy and vote give them the power, while in fact all they've got is the power to vote which results in nominating politicians who, in turn, will do what finance markets want. Politics are functional to finance, and finance (the real one, on the larger scale) is the only force that drives change and events. It's sad that people are so delusional about what they can do, but at the same time it is also likely necessary.
👍  
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@worldfinances ·
If everyone would be a little bit more informed (like you) I think that would change the whole game. But as long as most people will wait and believe that someone will save them (instead just use their own brain and logic)... So long, the oligarchic politics and central banking will have extreme power over majority  
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@gbenga ·
Inflation varies truly and changes from time to time, there are people who have remained poor because they always believe that one day the government will wake up to their responsibility and then begin to distribute money to them.
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@franyeligonzalez ·
Hello friend, in my opinion most people only worry about spending and living everyday, they do not think beyond, if we all had several incomes and not just one everything would be easier and our financial freedom would come faster. Greetings!
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@gbenga ·
I have seen a lot of people in my region who live like this everyday, they always believe that tomorrow will worry about itself.
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@oluwatobiloba ·
Income and lifestyle are both factors that contribute to this in my opinion. Some people earn so little that even if they try to save everything they earn, it will never be enough to enjoy life after they retire.

The second category is for those who have enough to invest but they always want to live a lavish lifestyle which results in working hard to make a living eventually at the end of their lives.
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@gbenga ·
You are correct also there are people who do not even earn enough to sustain them talk more of investing and there is the second category you talked about also.
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@busted1 ·
I think it has a lot to say about individual definition of financial freedom, some people simply just want to have enough to pay off every bill and expenses that may arise and some want to have more luxury.
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@gbenga ·
I agree with you also, but it remains important for everyone to take advantage of some great investment opportunities.
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