Are We Plateauing in Our Financial Freedom Journey?
For the past 2 years I have felt a bit like we are plateauing in our pursuit of financial freedom. Our journey has been on autopilot: busy with life, family, work and with what seems like less time dedicated to pursuing our net worth goals. It might not be obvious in our net worth reports, but perhaps its more noticeable in the topics that I have been covering on this blog for the last 2 years - quite frankly its been a little dull compared to the previous 3+ years to me.
Part of this is directly related to increased responsibilities/time commitments at work and increased family responsibilities. I would say my wife and I are still overwhelmed with our time commitments and still trying to figure out how to manage without derailing our net worth goals. As a result a lot of areas in are lives are getting less time than they need including our interests/hobbies and personal goals (including our financial freedom goal).
On the positive side I think we are in an overall good position (financially) do be dealing with these challenges at this point. Our net worth growth has put us in a comfortable position at this point to reach our financial freedom goals in the time frame we initially set out for in this marathon. We don't have to focus as much energy on growing our net worth or correcting our course to reach our initial goal which allows us presently to be putting more focus on other things in our lives. Even without this focus we are seeing regular and consistent growth in our net worth and significant progress towards our financial freedom goals.
We Are Still Time Poor
However plenty of challenges still remain. Commitments and ongoing responsibilities are a big time drain for us. We may be doing ok from a financial goal perspective, but we are currently very time poor. I think many folks use financial resources to combat this, outsourcing everything they can to reduce time drains in their hectic lives. Spending money to save time is something we have stretched so far to avoid or at least minimize, but have recently been exploring ways to outsource more, because we both recognize we can't sustain this with our current responsibilities/commitments.
When I initially set out on this financial freedom journey I never thought I would be pulling my foot off the gas pedal a bit. However the sacrifices and planning we made early on have put us in a great position to do just that at times and still make regular progress toward financial freedom. To me the tricky part is keeping the right balance because either extreme can easily derail us.
Related in Financial Goals:
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Financial Freedom Plan (Aug 25, 2013) Almost two years ago I laid out a plan for the net asset allocation I thought we needed for our financial freedom plan. It was a rough guide for asset allocation that I believe could generate enough income to cover...
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