Let’s Define “Want.”
When I say most people do not want to be financially free, I’m not saying that they wouldn’t like to be financially free. I think most people would like to be financially free like most people would like to win the lottery or how they would like to have their dream car. When I say want, I’m talking about the drive to make the necessary decisions to make that desire a reality.
I’m a firm believer that failure is a part of the process of becoming financially free. Passive income creation requires vetting and evaluating risk, and eventually taking action. I’ve lost count of the number of times I’ve failed at this gig. Shall we go through a list?
- Bought at lost a business right after my time in the military. It resulted in two bankruptcies, wiping out my net worth completely at age 26.
- Tried my hand at trading: Stocks, bonds, mutual funds, options, Forex, oil, and other commodities. I lost thousands upon thousands of dollars.
- Failed at my initial shot at real estate investing after purchasing a top-tier course from a well-known guru. I did zero due diligence and realized to be truly successful you needed either 1) an insane amount of time or 2) a few thousand a month for marketing (which I didn’t have).
- Tried my hand a few times at learning a more lucrative skill (coding), only to realize I don’t have the intelligence for it. Months wasted along with hundreds of dollars in courses at a local college and online.
All in all?
It was about 15 years of trying and failing, trying and failing, trying and failing. It’s perfectly demoralizing. People distance themselves from you because they think you’re nuts (“Who doesn’t work, man?”). Your personal demon of self-doubt becomes your metaphorical (or in some cases, literal) drinking buddy. You look back on so many missed opportunities and curse yourself for being blind.
But eventually, something works.
I have a buddy of mine who is more or less financially free in his early 30’s. He never went to college. He worked shit jobs until finally taking a leap to venture out on his own. He’s doing quite well with crypto, fund-raising, real estate, and promissory notes. Is that fair? Probably not, but who cares. He saw his opportunities and took the required risks. His worked out sooner than mine, and God bless him.
For me, all it took was 15 years of failing again and again and again and again and again until I finally made it. I finally found something that works and learned how to leverage it. And there’s nowhere to go from here but up.