What Does it Mean to be Financially Alert?

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What Does it Mean to be Financially Alert?

It took me a rather long time to settle on a domain name when I began my search.  It seemed like every last name was taken, or being squatted on.  But, I wouldn’t settle until I found something that resonated with me, and the message I wanted to write about.

Luckily, when I came across Financially Alert, I instantly knew that my search was over.  I loved the combination of these two  words as it was exactly what I had been looking for.  Here’s why.

Financial (as defined by merriam-webster): having to do with money or finance; and finance being defined as: matters relating to money and how it is spent or saved

and

Alert (as defined by merriam-webster):  able to think clearly and to notice things or quick to perceive and act

So, my definition of Financially Alert is:

The ability to think clearly and act with confidence in all matters relating to money and personal finance

This is a state of awareness that you will continually strive to improve upon through financial education and personal development.  Becoming financially alert is a road with no end, but it is filled with countless treasures along the way.

 

So, what’s the quickest way to become financially alert and accumulate wealth in the process?  FOCUS.

Focusing on these three CORE questions will ultimately lead to the best answers.

1 – What Does Wealth Mean to You?  How Do You Define It?

Let’s start at square one.  What does wealth mean to you?  Far too many people forget to answer this early on, and they fail to have a specific goal to achieve.

For me, wealth means an abundance of financial assets.  And by abundance, I mean the accumulation of assets equal or greater than $10 million by the time I’m 50 (this number will be different for everyone).

Using the 4% rule, this would provide free cash flow of about $33,333/month to spend.

This money would cover all family and household expenses, expenses for extended family that may need help, taxes, travel to International destinations, generous contributions to philanthropies we’re passionate about, and seed money for future business ventures (side hustles)/real estate investments.

2. What’s Your Why?

The next question to answer is Why?  Why am I doing this?  Why am I attracted to wealth?  Why even bother?

If you’ve never watched this Ted Talk by Simon Sinek, you need to!  Although he references business as his model, I believe it’s easily interchangeable to us as individuals.

A strong Why will be instrumental to pushing beyond the inevitable dips and valleys of this journey.

My Why is this: To live an intentional life helping others achieve their greatest potential.

3 – How Are You Going to Do it?

Finally, you need to ask the question, How are you going to do it?  How are you going to play they game?  What are the rules?

At the end of the day, money is just money.  It doesn’t define who you are, or what your worth is.  You DO.  So remember, you get to choose HOW to play the game.

For me, I’m playing the game to WIN.  But, the game has to be played with a few rules – integrity, courage, and gratitude.

Integrity is important to me because it aligns closely with my WHY.  How can I live an intentional life of helping others to achieve if I can’t first do what I say?

Courage is necessary because it will allow me to grow beyond my fears.  Without discomfort, we don’t grow.  And if we’re not growing, we wither.

Gratitude is what allows me to WIN along the way.  $10 million will certainly feel great once it’s achieved, but what also will feel great are all the milestones along the way, and learning about who I am as an individual throughout this journey.

Get Started

With that said, get started!  It’s never too late to become financially alert.  

Remember, the path to becoming Financially Alert is ours alone.  No one person’s journey will be exactly the same, yet we can all learn together and support each other.  I believe once you know these core questions for yourself, the mechanics of wealth are simpler to learn and easier to accomplish.

Financially Alert Interview Series (Coming Soon)

With that said, I will be launching a new interview series to feature other PF Bloggers or just regular readers willing to share their story on becoming financially alert.  Please contact me here if you’re interested in participating.

Readers, what is your personal definition of wealth? Have you considered your WHY and HOW?

 

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Michael

Hi, I have been blessed to take an early retirement in my mid-30's so I can focus on becoming a better father, blogger, and investor.

My goal is to help you find your personal path to financial freedom, and to enjoy the entire journey.

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7 Comments on “What Does it Mean to be Financially Alert?”

  1. Hey Michael, thanks for this post and for sharing the TED Talk!
    To me, wealth means the difference between feeling empowered and feeling powerless. Right now, my primary reason to work to improve my financial situation is to escape the anxiety that goes along with debt, so that I can eventually give myself more opportunities to do what I want with my life (i.e., be more empowered).
    Interestingly, though, I find that simply becoming more aware of my situation and taking the very beginning steps to change it is already empowering. Go figure. 🙂

    1. That’s wonderful Sarah! It’s certainly interesting that just becoming conscious of your situation leads to empowerment. Empowerment is such a great feeling, right? It’s exciting to be able to work through a challenge like debt knowing that you’ll emerge a stronger person on the other side. As you said, you’re paving the way for many more opportunities later on. You’re well on your way to uncovering more treasures along the road to wealth!

  2. Yep, the domain name really resonates! 🙂 I found it was also a struggle when I started my second and current blog although I wanted to embody positive emotions / connection to money rather than what many of us have been associated with i.e. evil / lack etc

    For me wealth is really about living life on your own terms, being able to give as much as your time & money as you can and having a decent amount of passive / residual income.. Decent is a subjective term however I do know!

    1. Thanks for the feedback Jeff! It took me awhile to settle on a name.

      I love the “glee” in your domain name. It definitely puts a positive spin on money! I’m looking forward to see it evolve. 🙂

  3. Thanks Mike, appreciate your kind words.. I’m keen to watch it grow to then help others out while then growing what I do to give more back 🙂

    Will be sure to watch / help you grow too! Lemme know if there’s ever anything I can do to assist!

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