Creating Financial Freedom, Abundance, & Prosperity
- Feb 5
- 5 min read
What is Financial Freedom? What is Financial Abundance & Prosperity?
These concepts are entirely personal. While everyone needs money to do what they want to do in life, it is exactly this, everyone has their own personal ideas of what financial freedom, abundance, and prosperity are for them.
This is exactly it: Freedom to Choose the life you wish to lead.
Choose it. This is what you are to pursue… what you want! I remember back in the 1990s, the news stands were full of magazines with beautiful glossy covers with financial advice, or what seemed like financial advice. It was really a platform for financial firms to advertise their financial products with very generalized advice… all targeted to a “rush” to retire early, and what a badge of honor early retirement is.
I will never forget the day (back in the1990s) Money magazine came out with this beautiful cover of the “Retire Early” mantra. The feature article was highlighted with a couple sitting outside of caves, with coupons, and a box of cereal. The couple was smiling because they were on track to retire at age 50.
I was not, and am not opposed, to anyone having the freedom to retire at age 50 or any other “early” age, but after reading the article of retire early, I was left with these 2 sentiments:
Who wants to live in a cave, eat cereal, and live a no-frills life, meaning no frills at all. And then, once one is enjoying their no-frills life and they retire… early, they are still living and vacationing in a cave eating cereal.
At that time, and to this day, I was, and I am, a definite “No” to living in a cave, vacationing in a cave, and eating cereal. Furthermore, I have never encountered anyone who described living in a cave off of coupons and cereal, as their idea of being financially successful, and being ready for retirement.
Life is Meant to Be Lived Full Out
This does not mean go into consumer debt to live a lifestyle one thinks as freedom, only to sink into wealth-eroding consumer debt.
Choice. Everyone has Freedom of Choice. And everyone who crosses the threshold into my professional practice is treated as a VIP—a very important person. We are all VIPs in our lives.
I will give you more than “live in a cave eating cereal & vacationing in a cave” advice. You actually get to choose what level of Financial Freedom you want to experience in your life.
The 7 Levels of Financial Freedom Concept
Each level utilizes the same 5 Pillars of Wealth & Money to create more wealth. No matter who anyone is, these 5 Pillars of Wealth are the very foundation for using their money, and creating money & wealth.
The level of wealth and financial freedom you create is mindset-your mindset. The 7 Levels of Financial Freedom represent the mindset you create for what you want in your life. You choose this.
The Mindset Success Formula
Clarity + Focus + the Right Actions + the Right People + Accountability = Success
“Accountability” is YOU declaring “I got this” even when you don’t know how you are going to do it. You trust yourself that you will accomplish it or make the progress you need to accomplish it.
Choose your mindset for money & wealth in your life:
Money and wealth skills are brilliant life skills to have and use. Skills are acquired and practiced.
7 Levels of Financial Freedom
Level 1: Clarity of your present financial world: take a hard look at bank accounts, debt, and spending. You will want to include taxes of all kinds to truly understand your cash flow. This is to gain clarity on where you are at, and where you are headed, in the realm of your finances.
Level 2: Self-Sufficiency Pay your bills. Buy your groceries. Run your life. Do not use debt to run your life. Standing on your own 2 feet. Feels good, but don’t stop here.
Note for parents: you begin teaching your children about money at this level.
Level 3: Breathing Room The paycheck-to-paycheck cycle is broken. Each month you are putting money aside. Small wins add up. The pit in your stomach is gone when your bills arrive. Do not use consumer debt to try to create breathing room.
Note for parents: teach your children this money skill to manage their allowance and set money aside. I can actually promise this: the habit of setting money aside as a natural way of being, i.e. a habit, started young, pays off handsomely in all aspects of life as your children grow up.
Level 4: Stability No bad debt weighs down on you. You’ve created a 6 month emergency fund. Life can throw curve balls, but you are ready. Sleep comes easier now.
Level 5: Flexibility 2 years of expenses saved. Want to switch careers? Start a business? Take a year off? You can! Money gives you choices, not chains.
Level 6: Financial Independence Your investments make enough money to cover your life. Work becomes a choice, not a necessity. This is where most people think it ends, but there is 1 more level.
Level 7: Abundant Wealth Money is not even a thought anymore. You have more than you ever need. The best part, you can help others reach their own financial freedom. This is true wealth.
For every person, regardless of who you are, this is how one’s focus creates lifestyle success, and success in creating a larger supply of money, i.e. wealth.
The 5 Pillars of Wealth & Money
Cash flow: Design* your lifestyle for happiness and wealth creation.
Strategic use of debt to create assets (not lifestyle).
Protecting & managing the assets you currently own for value.
Owning a liquidity portfolio for emergencies & opportunities.
Investing: to create entirely new money & wealth for you.
The first 4 Pillars of your money protecting and supporting you help you reach your 5th Pillar of money and wealth: Investing. Without the first 4 Pillars, one is always chasing for money for investing, never truly realizing your full investing potential and wealth potential.
* Designing cash flow goes beyond listing outflows of money. It is a conscious and a designed plan of money of not only what you need, but what you want.
I recommend creating 3 different cash flows:
What you think you need to do. How your money flows “today.”
What you want to do: how you want your money to flow.
What you REALLY want to do.
MSM Advisory, LLC is a full service Financial Planning, Investments Advisory & Insurances Advisory for the opportunities to create all 5 Pillars for your wealth and your future. And you can teach your children! MSM Advisory, LLC… created for those who want to live a life by design-their design!
Your thoughts and questions are always welcome!
MSM Advisory, LLC. is a professional practice designed to offer you the customized financial planning advice, strategies and implementation to make your dreams come true. Money matters and this is what the money is for… your vision for your life coming to life… for you.
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