The Two Things Required to Obtain the Life You Want

Clarity and Focus Make All the Difference

Picture of by Dr David Phelps

by Dr David Phelps

In my experience, true freedom requires two things: clarity and focus.

I see too many hard-working entrepreneurs chasing bright shiny objects, each leading them further from their vague goals that they haven’t spent enough time defining.

The First Goal is to Make Money

Early on in life, one’s focus is on making money to make ends meet. The next phase is focusing on gaining stability with one’s income. Eventually, you find a lifestyle for you and your family to adhere to and get accustomed to.

This is very traditional and is the path laid out by society. And most are content to stay on this path, only realizing too late that it does not create the freedom you desire. Maintaining the status quo requires one to continue working to provide for your family.

What happens when you can no longer work? When you don’t want to spend most of your time away from family anymore? When you want to pass on more than just piles of money to your children?

The End Goal is More Time NOT More Money

What we truly want in life is more freedom of time.

This doesn't mean you have to retire. It doesn't mean you quit doing something that provides purpose to you. 

Freedom of time means doing whatever you want to do because you enjoy it or making whatever you do enjoyable. It means, if it doesn’t bring you joy, you have the freedom to change the way you do it or leave it.

I've met many who did not enjoy and largely disliked the work they were doing. They were burnt out but still felt they had to continue doing the same things in the same way. 

Granted, their work did provide a high-quality level of life, but it couldn’t give them what they wanted or originally aspired to.

These individuals then become fearful and even more heavy-laden with the idea of having to keep working like dogs for the rest of their lives or at least until the average retirement age of 65-70 years old (another ridiculous idea).

“Find a job you enjoy doing, and you will never have to work a day in your life.”

― Mark Twain

If you love what you're doing, it doesn’t take much effort to get motivated to do it.

But how many people go to work every day because they feel like they have to? Because they feel obligated to do it a certain way?

Too many. But what is the solution to this problem?

The Power of Passive Income to Expand Your Options

Learn how to replace your active income with assets that provide income outside of your primary business. Assets that you spend a significantly less amount of time managing.

Your primary business is an asset in itself, but an asset that requires you to put a significant amount of your time into making it profitable. Your business is an asset, but it doesn't provide for freedom. (There is a way to structure your business to create more freedom for yourself but that’s a topic for another day.)

The money you save from your active income can be invested in assets outside of your business. These assets produce income which is what gives you the ability to change the model.

But where do you start?

Clarity on Your Freedom Number And Focusing on Assets

Your freedom number is the amount of money it will take to replace your monthly expenses for you and your family's lifestyle.

What are all the costs needed to support you and your family on a monthly basis? Yes, that number may change over time but you have to get specific, down to the dollar. The clarity and specificity of defining your freedom number is what gives you motivation and a clear goal to work towards.

Once you define that number the next step is to focus on sustainable, tangible assets that will provide that monthly cash flow.

This is different from an accumulation model, stashing it away in a 401k, cash balance plan, savings account, crypto, or whatever else until it’s time to start chipping away at it.

What I’m advocating for is a focus on accumulating assets that produce income. This income will begin to replace your freedom number. The difference here is that you don’t use up your principal capital. You put it to work and even continue growing it as it provides for your monthly income. 

But this is only possible once you get clarity on your freedom number and focus on the right assets to provide that income.

When people obtain those two prerequisites (clarity and focus), everything changes. Even if you're still several years away from getting to your freedom number, you now have a focal point. For yourself and your family, particularly your spouse. Everybody wants to know where they’re going and it’s important to share these milestones with those they impact.

A Bigger Lifestyle vs. More Time

People may still choose to hold out for the bigger lifestyle. But one thing I caution those in pursuit of “bigger” and “more” is, at what cost? Where is your time spent? Your loved ones want more time with you, not more money. 

There is no freedom in this pursuit of more. There are no quality memories spent with loved ones. And if you’re not aiming to spend your time with those you love, then what are you truly living for?

This involves a change in mindset. You have to give yourself permission to define that goal and only focus on things that will get you to that goal. Eventually, that means stepping back. Letting go of making more to give your time to what truly matters.

It's what we do so well in Freedom Founders. We are a like-minded community because we are all focused on the same thing.

We have all come to the realization that the traditional model that we’ve been taught has many holes. There is a better way.

This way of thinking is a game changer. It will provoke modifications to your financial game plan

If you are ready to learn more, I invite you to reach out to us.

To your freedom!

– David


P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think) :


1. Schedule a Call with My Team:

If you’d like to replace your active practice income with passive investment income within 2-3 years, and you have at least $1M in available capital (can include residential/practice equity or practice sale), then schedule a call with my team. If it looks like there is a mutual fit, you’ll have the opportunity to attend one of our upcoming member events as a guest.

2. Become a Full-Cycle Investor:

There are many self-proclaimed genius investors today who think everything they touch turns to gold. But they’re about to learn the hard way what others have gained through “expensive” experience. I’m offering a free report on how to become a full-cycle investor, who knows how to preserve and grow capital in Up and Down markets. Will you be prepared when the inevitable recession hits? Get your free report here.

3. Get Your Free Retirement Scorecard:

Benchmark your retirement and wealth-building against hundreds of other practice professionals, and get personalized feedback on your biggest opportunities and leverage points. Click here to take the 3 minute assessment and get your scorecard.

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