How to Reach Financial Freedom

Taking advice from billionaires is great, but in some ways it’s also impractical. That’s why I also do my best to learn lessons from successful people in my day-to-day world. If I want to uncover the “secret” to a rich life, the best approach is to see what works (and what doesn’t) for average people.

Here’s an example. A while back, Jeff from the Sustainable Life Blog asked 39 colleagues two questions:

  1. What inspired your journey to Financial Independence?
  2. What do you think is the most important thing people need to do to reach Financial Independence?

Jeff compiled the responses into a colossal collection of stories and tips about how to achieve financial freedom. If you’re at all interested in this subject, you should bookmark his post: Who else wants to retire early and be free? (Unfortunately, the original article has been “unpublished”. I’ve linked to the archived version from the Wayback Machine.)

The Secret to a Rich Life

Put these two ideas together and you have a powerful recipe for a rich life. The secret to a rich life? Save half of your income so that you can pursue your purpose.

That’s the secret.

There’s a real temptation to believe that financial success is more complicated than that…but it’s not. That’s what others have concluded, and that’s what I’ve come to understand after twelve years of reading and writing about money full time. The “secret” to financial success real is this simple. (But, as always, simple and easy aren’t the same thing.)

My entire mission here at Get Rich Slowly is to help my readers do thes two things. That’s why I’m so insistent that folks write a personal mission statement. And that’s why I stress that the most important thing you can do to achieve your financial goals is to boost your saving rate.

To my mind, these two steps are the keys to financial freedom. They’re the secret to a rich life.

Written by Trevor Davis

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