Time Freedom

Hope you all had a great weekend. I did. My husband and I decided we are going to enjoy the weekend and the week doing nothing in particulr - just relaxing and enjoying our 35th wedding anniversary.

That is something one can do when they are free to decide what they want to do!

Now that you know all about Personal Freedom, one side of the Freedom triangle, let us take a look at the other side to day.

TIME FREEDOM

A simple definition would be: “You are free to set your own schedule and are not under any time pressure” or another way to look at it is “the amount of your income does not depend on the amount of time you spend on earning it”.

Another form of Time Freedom is when one can increase their income while spending the same amount of time or even reduce the time and still increase the income.

Some examples:

•Most employees do not have Time Freedom. They have to follow the time schedules set by the company.

•Even the small business owners do not have Time Freedom. They are bound by the timings of their business and their customers. At least they have some sort of Personal Freedom as they do not have to answer to a Boss. They are their own boss.

•Big Business owners have flexible schedule but not total Time Freedom.

•In Network Marketing you can get this kind of Time Freedom by taking advantage of what is known as Leverage. Only big business people had this advantage until Network Marketing came along and offered every one this very valuable advantage.

Then who does have Time Freedom? How does one get it? Those who have established a sufficient and steady life long RESIDUAL INCOME. Their Income keeps coming regularly and they don’t have to worry about trading their time for income. Either their money is working for them or they are getting paid for the efforts they put in before.

Pension is a form of Residual Income and retired people have time freedom.

Unfortunately, for most the pension is usually not enough to live on. These people are so used to a time schedule all their life; they find it difficult to adjust to the newfound Time Freedom. Unless one plans their retirement activities and has some hobbies or other interests, the Time Freedom becomes more of hindrance than pleasure.

People who have saved enough money and invested it wisely can also have Residual Income and Time Freedom. Successful Authors, Actors/Actresses, Singers and fourth generation entrepreneur** can all establish a Residual Income and have Time Freedom.

This type of Residual Income and hence Time Freedom differs from the Pension and the Time Freedom of Retirees in two ways.

One, they don’t have to wait until they are 60 years old. Depending on how they achieve their Residual Income, it can start as early as 25.

Second, they have to stay active in their line of work in order to ensure continued supply of income.

Example, the investor has to monitor his investments. The authors may have to make book signing appearances or radio and television interviews to keep the public interested in their books. Similarly the actors and actresses have to keep up their public appearances and promote themselves.

Why is this Time Freedom important? Because there are so many things our world has to offer one these days and without this Time freedom, one will be stuck to their office and their desk, their bus schedule and so on and has very little time left to enjoy the good things in life. A quite walk in the woods, playing with grandchildren, traveling, reading books, listening to music, learning new skills, meeting new people and so on.

Please do not misinterpret Time Freedom, as having nothing to do and just sitting around. Time Freedom combined with Personal Freedom is more of doing what you want to do, when you want to do, wherever you want and with whom ever you want.

** We will get into what a fourth generation entrepreneur is all about in the future blogs.

Stay curious for now.