5 Key Traits to Become Financially Free

Among all other fun moments we shared at our Pune meet of ELITE subscribers, we talked about the 5 key traits that can take each one of them from their current state towards the prestigious goal of financial freedom.

It was a pleasure and an honor to meet some of the passionate freedom seekers of our ELITE Program in Pune, India. Some of them were just starting off on the journey, some were on the way to freedom, and some have already started to experience the joys of freedom.

Among all other fun moments we shared at our Pune meet of ELITE subscribers, we talked about the 5 key traits that can take each one of them from their current state towards the prestigious goal of financial freedom.

Here we go...

Trait # 1: To WIN the game, you should stay IN the Game

I always tell people not to quit even if they are facing extremely adverse situations in their professional or personal lives. For this very reason, we have something called as 'Snooze' option while filling up the service continuity form for the ELITE Program. Ideally, one should not even use the 'Snooze' option because it is even tougher to regain the momentum once you are out of habit. You should face the situation head on. Nothing should stop you from updating and tracking your data once a month. Just one hour a month - doesn't our freedom deserve even this much?

Even if your performance is low, markets are down, ROI is poor, monthly targets are getting lagged - so what? Such times will come in everyone's freedom journey. It came in mine as well. You got to face it. You got to get through it. Don't ignore such times. Don't run away from them. These situations come to strengthen you. If you just stick around such times, the times will get better, and you will be back - winning. But if you quit in such times, you are out of the game, and then the chances of you winning the freedom game are absolutely ZERO. If you ought to win, you need to stay in the game.

This is what I tell everyone, including my children. Hang around, stick around somehow if you cannot progress. But never quit. Because quitters never win and winners never quit.

[Recommended Book: Dream On]

[Recommended Book: A Father's Diary]

Trait # 2: Have Faith and Keep Moving

Faith & Fear cannot coexist. When you have true faith in God, the fear of death just vanishes. Financial Freedom journey is no different. If and when you start your freedom journey, understand that you are blessed to have started that. There is no bigger joy than freedom in this life. You are one among the rare who get to start this journey. 

Now that you are on the way, have faith in the process. Have faith in the almighty. Have faith in your mentor - someone who has walked the path before, someone who can come along with you and handhold you until you get there. There will be times when your mentor will take you through an unexpected and unchartered path, but you got to have faith. 

Sure, question your mentor, but never lose faith. If your mentor asks you to read a blogpost, book or magazine, read it. If your mentor asks you to liquidate some assets and invest in some others, please do it. It's tough to explain the reasons for everything but the more faith you put in your mentor, the faster your journey would be.

Don't try to compare your investing strategy with anyone else's. Don't get lured with what you hear. Your mentor has your best interest in mind. Don't treat your freedom journey as any ordinary financial planning exercise. 

[Recommended Blogpost: Relentless faith can even cut your past karmas]

[Recommended Video: Financial Planning Vs Financial Freedom Planning]

Trait # 3: Sharpen Your Financial Saw

99% of lottery winners lose all their wealth in less than 3 years. Those who inherit massive wealth and don't go through hard work and struggle tend to lose the way during their lifetime. Forget about growing their wealth, they cannot even sustain themselves with the wealth given to them. Easy money doesn't ever last long. 

And the reason is simple. 

While your wealth goes up with easy money, it is tough for your financial intellect to grow that fast. And this gap between your wealth and your level of financial intellect makes your wealth, sooner or later, fall to the level of your financial intellect. 

So, how do you maintain massive wealth and make it grow further? There are only two ways that come to my mind:

a/ Your wealth has to grow slowly - so that your financial intellect gets the time to grow with it.

b/ Raise your financial intellect by asking questions, reading, writing, listening, speaking, thinking. 

Read more, ask more. There is massive information being shared. Invest in raising your financial intellect. Don't think that you can ever escape raising your financial intellect if you wish to have long term sustained wealth. Money can move out as easily as it has come in. You need to be elevated enough to protect it. You need to keep sharpening your financial saw.

[Recommended newsletter: Elevate]

[Recommended Blogpost: Why you should read like mad]

Trait # 4: Walk the Freedom Journey together as Families

Those who pursue the financial freedom journey as families tend to not only achieve financial freedom faster but have a much more balanced life post financial freedom. Both the spouses come closer to each other. 

They work for a common goal. They struggle together, save together, celebrate together. And if you can involve your children in this journey, there is nothing more satisfying than this. Children learn the nuances of saving, tracking every month. They learn to value money. They learn to get more disciplined. And that's the precise reason we started with Family WhatsApp groups for those freedom seekers who are keen to create a WhatsApp group with their families and me.

[Recommended Video: Freedom Journey with Family Part-1 & Part-2]

Trait # 5: Start Living your Dreams before actual Freedom

Yes, you may not yet be financially free. But if you wish to speed up this journey, you got to start working on the love of your life - on your passion, on the thing that excites you. Because what excites you will pull you through the journey faster. It will push you to make sacrifices that you would not normally do. It will make you realize whether you truly love what you think you love, or you should explore other avenues. 

There is one life, and the earlier you start enjoying it, the better for you. You may not be able to work full time on your passion while you are still in your traditional job or business, but even if you work 30 to 60 min a week on your passion, you will stay excited and positive. And positivity is what will make your freedom journey enjoyable and worthwhile.

[Recommended Blog: Finding Your Passion]

If you exhibit the above traits, you are on a roll on your freedom journey. If you are missing any of them, get going for it right away. It is never too late.

Leaving you with a couple of snaps from our Pune meet. All the best !

  

Regards

Manoj Arora
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