Downsizing Can Improve Your Chances For Reaching Financial Freedom!
Downsizing can apply to many areas of one's life.
On a business level, it could mean having to lay off workers at a factory or other place of employment.
On a personal level, it could mean spending less through the elimination of anything that you normally take for granted.
For our purposes here, we are going to refer to downsizing on a personal level.
Doing so, will increase your chances of achieving financial freedom.
Reaching financial freedom and realizing your life-long dreams, is really not that hard to do.
Of course, one must have a little bit of discipline in order for this to happen.
That discipline can take on many forms.
For instance, just about everyone holds a subscription to a magazine.
But do you really need 5 magazines coming in on a monthly basis? If this is so, than downsizing here would refer to cutting back on a few subscriptions and saving the fees towards your financial freedom.
If you felt like you truly missed the magazines that were cut out, then pay a visit to your local library and get them there.
One more example of downsizing is in order and then I think you will understand the big picture.
Just about everyone likes to have their morning cup of coffee.
Well the fact remains that a large group of these individuals, stop at the local java hut on their way to work, for purposes of buying that coffee and maybe a croissant as well.
I want you to stop for a minute and calculate how much you could save on an annual basis if you were to dispense with that morning stop for coffee.
Go one step further and now calculate how much that same amount of money saved and invested at a modest 5% per year and compounded for 40 years, would ultimately become? Here is a little hint: $5.
00 per day for 5 days per week for 50 weeks per year, (2 weeks off for vacation), for 40 years, compounded at 5% per year is: $159,382.
12! Just imagine if you were a smoker at 1 pack per day ($10.
00 per day) and performed this same exercise! Downsizing can be applied to any aspect of your life.
The whole point of even considering downsizing anything is to be in a better position to secure your financial freedom.
Every aspect of your life that is scrutinized for downsizing will yield a savings which if invested wisely, will certainly add to your comfort zone when you get to your retirement.
I know I previously said one more example, but just imagine how much you could secure your financial freedom if you were to downsize your house.
In addition to all the benefits you would receive by moving from a $500,000.
00 home to a $250,000.
00 home, the single largest benefit that should be more than obvious is as follows.
If you have been less than diligent in saving for your financial freedom during retirement, downsizing your home will give you an instant nest egg!
On a business level, it could mean having to lay off workers at a factory or other place of employment.
On a personal level, it could mean spending less through the elimination of anything that you normally take for granted.
For our purposes here, we are going to refer to downsizing on a personal level.
Doing so, will increase your chances of achieving financial freedom.
Reaching financial freedom and realizing your life-long dreams, is really not that hard to do.
Of course, one must have a little bit of discipline in order for this to happen.
That discipline can take on many forms.
For instance, just about everyone holds a subscription to a magazine.
But do you really need 5 magazines coming in on a monthly basis? If this is so, than downsizing here would refer to cutting back on a few subscriptions and saving the fees towards your financial freedom.
If you felt like you truly missed the magazines that were cut out, then pay a visit to your local library and get them there.
One more example of downsizing is in order and then I think you will understand the big picture.
Just about everyone likes to have their morning cup of coffee.
Well the fact remains that a large group of these individuals, stop at the local java hut on their way to work, for purposes of buying that coffee and maybe a croissant as well.
I want you to stop for a minute and calculate how much you could save on an annual basis if you were to dispense with that morning stop for coffee.
Go one step further and now calculate how much that same amount of money saved and invested at a modest 5% per year and compounded for 40 years, would ultimately become? Here is a little hint: $5.
00 per day for 5 days per week for 50 weeks per year, (2 weeks off for vacation), for 40 years, compounded at 5% per year is: $159,382.
12! Just imagine if you were a smoker at 1 pack per day ($10.
00 per day) and performed this same exercise! Downsizing can be applied to any aspect of your life.
The whole point of even considering downsizing anything is to be in a better position to secure your financial freedom.
Every aspect of your life that is scrutinized for downsizing will yield a savings which if invested wisely, will certainly add to your comfort zone when you get to your retirement.
I know I previously said one more example, but just imagine how much you could secure your financial freedom if you were to downsize your house.
In addition to all the benefits you would receive by moving from a $500,000.
00 home to a $250,000.
00 home, the single largest benefit that should be more than obvious is as follows.
If you have been less than diligent in saving for your financial freedom during retirement, downsizing your home will give you an instant nest egg!
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