The 4 freedoms of a perfect life and how to create each one

Most people just go with the flow. They work 9 to 5 jobs, Live within 30 miles Where they grew up and don’t change careers very often (if at all).

If you have considered all your options and Then Choose that lifestyle intentionally. The problem, of course, is that most people who live this lifestyle simply fall into it.

I love the concept of Lifestyle design, but with a poor “brand” image. People either find it pretentious or them Don’t understand what this means. but it Simply put, it means actively and consciously choosing all aspects of life.

So let’s drop the term today Dig The four freedoms most of us want and how to achieve them.

1. Financial freedom

this is the largest. so bigin fact, We have to solve this problem first, though real Belongs to the last.

There are several ways to think about financial freedom. You can think of it as synonymous with financial independence (FI): the ability to pay for living expenses through passive income from investments. Every single person on the planet has this goal – it’s how we fund retirementafter all.

But it’s too big of goals for most of us Pay attention to our daily life life, which is why so few people pursue financial investments at a young age. it takes A high savings rate realized for ordinary people Within a year or two.

Consider another short-term way of thinking Financial freedom: the ability to pay for living expenses without financial stress. It’s not just a 9-to-5 and living on a budget.

This means having multiple Revenue sources you control. for me, These include my business, SparkRental, and passive real estate investments, which generate income. Our investment club comes together every month to make new passive real estate investments. This leaves us each Invest small amounts in many projects to earn a diverse stream of passive income.

Short-term financial freedom also means being able to change jobs or careers at any time. This means not living paycheck to paycheck. Ideally, this means being able to take full advantage of the other three types of freedom.

2. Freedom of location

When you can make money remotely, you can live anywhere in the world. I should know – I’ve been doing this since 2008 and have lived on four continents. I currently spend most of the year in Lima, Peru.

When you can make money from anywhere in the world, you can travel freelycertainly. but it also sets you free Choose your ideal home city consciously.

maybe you will choose Live in another state or country where every dollar is worth more. I live a comfortable and even luxurious lifestyle in South America on a modest budget (under $50,000 per year).

Maybe you’d abandon your current state’s high taxes and instead adopt lower cost countries. or by moving overseas and taking advantage of foreign earned income exclusion. Or you could move closer to your loved ones.

Key points: You can intentionally choose where you want to live from 200 countries around the world.

3. Time freedom

Who says 9 to 5 are ideal working hours? Maybe you’d rather work 7-3 or 11-7 or Work A few hours before your child wakes up, and then another few hours after they nap or go to bed.

For that matter, maybe you’d rather work 55 hours one week and 25 hours the next.

Or imagine a “red month,” where you cross that page in your calendar with a giant red marker and say, “I’m not available this month; I’m available.” Schedule all your calls for the next month.

I spent a red moon December 2022touring Patagonia with my wife and daughter. We hiked in Fitzroy in El Chalten, visited the Perito Moreno Glacier in El Calafate, wine tasting in Mendoza, and had a breathtaking tour of Buenos Aires Amazing steakhouse meal.

time freedom involved able to earn Money follows your own schedule. This may mean owning your own business, Or it could mean Engage in freelancing or other self-employment. Or it can be easily negotiated with the employer.

4. Freedom to work

If money didn’t matter, what job would you do? In other words, what is your ideal? Work?

certainlyfor somewhich could mean a $40,000 pay cut. but For others, it may only mean a $5,000 to $10,000 pay cut. You can do this through a better budget, an interesting part-time job, or an increase in Some Passive income from investing. More likely, it will It can be a combination of two or even all three of these strategies.

too many people there fire movement slave Stay away from trying to reach full Financially independent and dreaming of beach life. But the reality is: Everyone who retires young will return to work. You can only sit on the beach drinking daiquiris for so long.

Yes, everyone is back to work – but they are doing so on their own terms my own terms. This is useful for you, Because it means you can skip those years of slavery and budget wise, you can only Make a career change now.

After interviewing dozens of people who have achieved financial independenceI noticed a pattern. yes they go back jobs, but they encompass all four of these freedoms.

Combine four freedoms for your dream life

I don’t consider myself financially independent. I can’t spend my whole life sitting on the beach doing nothing. It doesn’t matter at all because I live the exact same lifestyle as I did when I was already FI.

I do a job I love my own schedule, from anywhere in the world, and I don’t worry about bills or my next paycheck. I have all four freedoms, which means I have full Take control of my life.

Start by brainstorming your dream job. and then start figuring out how to you can Start doing this work when and where you want. Only after writing down this ideal lifestyle can you think about the financial aspects. How much money can you make? Is this enough to cover the minimum cost of living in your dream city, state, and country?

If not, start looking for supplemental income ideas. Research fun side hustles that allow for location and time freedom. invest for Passive income streams. us Aim for high returns Passive real estate investing In our co-investment clubusually 15% or higher. with us Participate together so that each member can invest a small amount. I own shares in dozens of properties across the country.

There’s no right or wrong way to live your ideal life – it’s unique to you. But most likely, this involves all four free, and healthy passive income from investments.

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Notes on BiggerPockets: These are the opinions written by the author and do not necessarily represent the views of BiggerPockets.