Do you find yourself stuck on the proverbial treadmill of work to spend? You have to work so you can spend? The treadmill of money in, money out, money in, money out….There seems to be no end in sight. And you are right! There is none, if you continue down that path. You do not get to retirement age and magically ride off into the sunset. In fact, a lot of people find themselves having to live the hard life in their later years, after working hard for their whole lives!

So, what is financial freedom? It is not owning a Lamborghini. It is not having an oceanfront mansion. It is not having a luxury yacht or private jet. It would be nice though, as a side effect of financial freedom.


Financial freedom is making work optional, so you can pursue things that bring you fulfillment. It is the goal of being free from work, while having the financial means to support a comfortable lifestyle. You decide what comfortable lifestyle means.


Pot of gold needed= (lifestyle cost) X (number of years you want to have financial freedom). You earn and save to reach that number.

Example 1.

  • You need 10k per month for comfortable lifestyle.
  • You will need 120k (10k x12) to be financial free for 1 year.
  • You will need 1.2million to be financially free for 10 years, 3.6million for 30 years and so on.
  • You can earn and save to get there.

Example 2.

  • You need 2K per month for comfortable lifestyle.
  • You will need 24k to be financially free for 1 year.
  • You will need 240k for 10 years,  720K for 30 years and so on.
  • You can earn and save to get there.

HUGE difference, isn’t it?


This is an oversimplification to drive home the concept. Financial freedom depends on 3 factors:

  • Factor 1: lifestyle (how much you need to be comfortable).
  • Factor 2: earnings.
  • Factor 3: savings and investment 


  • Finance is never part of our education, unless you studied finance (lucky folks!). It is on YOU to learn it.  This is a time investment that will pay in bucket loads of dividends.
  • This is a life skill. It does not happen overnight. Make changes slowly. Just like weight loss, crash diets NEVER work.
  • Your lifestyle builds wealth. And wealth should not change your lifestyle.
  • Time grows money. So front load your sacrifices (work hard and save hard). Start young. I really wish someone told me this.
  • Living from paycheck to paycheck is usually nothing more than a bad habit. If you have ever fixed a bad habit, you will know it is hard work, especially at the beginning. It requires the desire to change, the discipline to implement the change and the persistence to see it through.
  • Beware of lifestyle creeps. It is very easy to spend your entire income, no matter how much you earn.
  • Most people do NOT need financial advisors. A lot of financial advisors (not all) are not qualified. Some are not ethical (especially those who are commission based, or tied to an institution or insurance).
  • Even if you do have a financial advisor, they have an advisory role, you should still manage your own money. No one cares about your money more than you.
  • Everyone needs a financial budget. No matter how much you earn.
  • Financial freedom takes lifelong planning.

Begin with the end in mind

– Dr. Stephen R. Covey

I am not a financial advisor. Medical school definitely did not teach about money. (They should, doctors are terrible with money). But I have self taught over the last 10 years, have learnt a lot and still learning. These are the things I wish I knew a lot earlier.

In the Pot of Gold series, I hope to empower women (and men) to get to financial freedom. I will base most articles on the 3 factors above.

More to come!

Yours Positively,

Positive Circle.

3 Comments Add yours

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s