Reflections while on the Path to Financial Freedom

10 Steps to Financial Freedom

  1. Find a reason greater than your current reality
  2. Harness the power of your daily choices
  3. Choose your friends carefully
  4. Master a formula and then learn a new one
  5. Pay yourself first
  6. Pay for professional advice
  7. Be quick to use cash for assets that provide ROI
  8. Remember that assets buy luxuries
  9. Learn from investment heroes
  10. Teach and you will receive dividends


In the past, the fantasy of not having to work was not a strong enough why to pursue financial freedom. The dream was whimsical, nothing concrete to commit and persevere towards. However, providing my wife the opportunity to choose to stay home and take care of our second daughter was a strong enough reason than the current reality of her having to go back to work to make income.

The power of why is foundational to any pursuit. It leads the other steps, making them easier. I make the daily choices of sleeping and waking early. I avoid people or situations that do not allow me to fulfill the greater reality. I commit deeply to learning and practicing. I hold off on buying luxuries. However, I balance this aspect against being present and enjoying people and experiences before it is too late and without having any regrets. I have learned that making lots of money is also not a strong enough reason to be disciplined. As an aspiring professional trader, the greater why are reasons such as self-control, patience, self-awareness, and discipline. The byproduct is making money by trading.

6 Lessons of Financial Literacy

  1. The rich do not work for money
  2. Teach financial literacy
  3. Build your own business
  4. Utilize corporations wrapped around assets
  5. Invent your own money
  6. Work to learn, don’t work for money


These lessons do not resonate as loudly as the 10 steps. Perhaps the only one that I have experienced and practiced is working to learn. I understand the value of leveraging the available entities for liability and tax reasons. I want to get to the point of not having to work for money. Through my active income of professional trading, my ultimate goal is to have enough liquid capital to provide a moderate return on dividends. Perhaps wrapping the trading business and capital generated around a corporation would be beneficial down the line.

5 Obstacles to Overcome

  1. Fear
  2. Cynicism
  3. Laziness
  4. Habits
  5. Arrogance


I am very well familiar with these obstacles. Each of the obstacles on their own can derail the greater why. Fear leads the pack because it can prevent one from even starting. The fear of failure inhibits any action. The fear of not being good enough. The fear can share its reach with doubt. I doubt that financial freedom is possible. I doubt that professional trading is a viable way of generating income. In the process of trading, I have a fear of missing out. I fear that I will lose profits. I fear that I will lose my capital. If I am able to overcome my own internal fears, I then must face the external obstacles of cynicism. These external fears are typically expressed as trading is too risky. The cynicism comes off as sharing stories of others who have pursued and failed. For most, pursuing anything outside of the known and familiar path is a risky and dangerous business. Thus, to protect their way of life, cynicism inevitably comes out.

Once you overcome fear and cynicism and are able to start the journey, then you face the other obstacles. It is taxing and requires greater perseverance to endure. It is easy to become lazy, especially by looking busy on the outside when none of the actions contribute to the greater goal. It is easy to become lazy with sticking to systems and practicing discipline. It is boring. Then there is the battle of creating good habits and getting rid of bad ones. The daily habits lead to the greater goal. The daily sacrifices accumulate to returning powerful riches later. And the last and most deadly obstacle is tasting a small bit of success and becoming arrogant. The most detrimental part of my journey was generating a 43% return in one month. There was a whole amount of luck involved and improper risk management. The small voice saying I can do this again and I will become a millionaire in no time was the beginning of the months of demise. Not only did I lose all the gains, but I had 60% loss on initial capital. Arrogance must be checked on a regular basis as much as doing monthly performance reviews.