There was a lot of inputs on my blog from my friends asking if I have become a financial advisor or if I am teaching people a method on how to become rich.
While the concepts of compounding are the basis of becoming rich, the idea of this blog was something totally different.
As I had mentioned in my first blog, I did not know about the magic of compounding till about 4-5 years back. Due to that I used to do a lot of things because I had to. I was in a job because I had to, since there were so many liabilities on me – my parents, my in-laws etc and my son was getting into university. Since we were a single income family there was always this question on how we would manage our finances if I did not have a job.
And as I had mentioned earlier also, since I come from a typical middle class family – a job was what we did all life….our whole existance was centered around being in a job.
If I had the freedom to choose things without having to worry about how my basic necessities would be taken care of then maybe I would have lived my life differently. Maybe I would still work, but then I would do a job because I want to work and not because I had to.
The whole idea of starting the blog was that if there are people out there who struggle the way I have, they may find that my experience may allow them to live life differently.
By utilising the magic of compounding from early on in life, you don’t have to be a slave all your life. In the initial years you struggle but invest wisely so that over a period of time you have enough invested such that the earnings from the investments take care of your basic needs and you do what you like to do and life a much more happier and fulfilled life.
In my next blog I will take a few examples of how by keeping a moving target we frustrate ourselves and how achieving financial freedom may not be such a difficult thing.