Although people often confuse the two, financial freedom isn’t the same as being rich. One individual could be completely financially free earning just $20,000 annually, while another could be trapped even with millions of dollars of annual income.
So then, what is financial freedom? Financial freedom is a state of mind achieved within an individual by no longer needing to worry about money. Money is no longer the dominating force behind the personal or professional decisions within an individuals’ life.
Why is financial freedom more important than wealth?
While many individuals can consume a limited amount of food, once they’ve reached their limits, individuals will discontinue eating and their thoughts will no longer be occupied with eating.
Last night, my business partner Reid and I attended the Ontario Real Estate Investors Organization (OREIO) monthly event at the Travelodge Hotel on Carling in Ottawa. This month I was very excited, because this month the presenter was one of my mentors and educators and the catalyst which brought me out of the phase that many investors get into known as “analysis paralysis”. The presenter was none other than Don Campbell himself!
For those of you who don’t know Don Campbell, he is one of Canada’s most experienced real estate investors. He wasn’t born into riches, didn’t have a silver spoon, he started when he was working at a customer service desk at Sears and worked his way to where he is today, one accomplishment at a time. It wasn’t an easy ride, there’s no such thing as easy money, but he worked through the challenges as he faced them and any real estate investor can save themselves thousands or even millions in mistakes learning from his experience. He is a realist at heart, and isn’t afraid to share both the successes and challenges he’s been through.
Last night, my business partner Reid and I attended the Ontario Real Estate Investors Organization (OREIO) monthly event at the Travelodge Hotel on Carling in Ottawa. While we’ve been to events in the past, we hadn’t been to one recently. This evening’s presentation took on a slightly different format, leveraging a panel of experts in different fields and it made for both a very interesting and informative evening.