10 Things to Remember When You’re About to Give Up – Staying Strong on Your Journey to Financial Independence

For the last ten years, I’ve had many, many ideas on businesses or products to invent so we could make money and quit our jobs.

I only ever acted on two ideas, and only one of those ideas remain in business today… though it’s basically toiling away as I haven’t actively worked on it for almost 2 years now. 😳

Of course, today I am full of regrets as I would’ve likely been able to retire already if I’d just picked at least one idea and ran with it back in 2013. I’m either lucky or unlucky that in the last ten years I’ve held jobs with great managers and always felt I was paid a fair salary, so I was comfortable, and never truly wanted to change my situation.

But boy, there’s nothing like having children you love dearly to make you realize how risky it is to rely on a job for income, and what a total bummer it is to have to choose between spending time with your kids or going to work to make money.

It’s been a long time coming, but my plan is to be able to quit my full-time job within the next four years. This time it’s really, truly different- the stakes are so much higher for me. I need to have multiple online income streams to break free from jobs that control my time. I want to watch my kids (4 years old and 1 year old today) grow up and hang out with them as much as possible before they’re too busy with their own lives. It would’ve been so nice to have already made it today, but with my four year plan, at least I’ll be able to spend much more time with them when they’re 8 years old and 5 years old, which is not too late in the grand scheme of things (and much better than 18 and 15!).

As I’ve kind of been here before, where I’m motivated at the moment but then lose steam, I want to remind myself to keep going when the going gets tough. Nothing that’s worth it comes easy. Instead, it’s easy to feel overwhelmed, discouraged, and tempted to give up when faced with challenges and setbacks. This is why I’m writing down what I need to remember when I’m on the verge of giving up on this journey to financial independence, and I hope these tips will help you too.

  1. Remember Your “Why”

Having the right motivation is everything. Before I became a parent, I didn’t have a strong enough “why” to pursue financial freedom. You’d think the ability to enjoy my time and do whatever the heck I want would be enough, but given my risk adverse immigrant mentality and the only path I’d ever known was work a great corporate job until retirement at 70, it was not.

Reflect on why financial independence matters to you. Is it to provide a better future for your family, pursue your passions, or enjoy a life of freedom and security? Clarifying your “why” will reignite your motivation and remind you of the rewards waiting on the other side.

  1. Embrace Patience and Persistence

Financial independence is not achieved overnight. It requires consistent effort and patience. Understand that setbacks and slow progress are natural parts of the journey. Stay persistent and keep taking small steps forward. Remember, every action, no matter how small, brings you closer to your goal.

  1. Surround Yourself with Supportive People

Surrounding yourself with like-minded individuals who support your financial goals can make a world of difference. Seek out mentors, join online communities, or engage in networking opportunities. Sharing experiences, receiving advice, and gaining inspiration from others will keep you motivated and accountable.

  1. Celebrate Milestones and Small Wins

Acknowledge and celebrate every milestone and small win along the way. Break your financial independence journey into achievable goals and reward yourself when you achieve them. Celebrating your progress will boost your morale and keep you motivated for the next steps.

  1. Focus on Learning and Growth

View obstacles and challenges as opportunities for growth and learning. Each setback is a chance to refine your strategy, gain new skills, and build resilience. Embrace a growth mindset and remember that failures are stepping stones toward success.

  1. Practice Self-Care

Taking care of your physical, mental, and emotional well-being is crucial during your financial independence journey. Prioritize self-care activities that recharge and rejuvenate you. Exercise regularly, practice mindfulness, and maintain a healthy work-life balance. When you’re in a better state, you’ll be better equipped to face challenges and stay motivated.

  1. Break Down Goals into Manageable Steps

Large financial goals can be overwhelming, leading to discouragement. Break them down into smaller, manageable steps. Create a roadmap with clear objectives and actionable tasks. By focusing on one step at a time, you’ll maintain momentum and see progress more easily.

  1. Seek Inspiration and Motivation

When you’re feeling low, seek inspiration from those who have achieved financial independence. Read success stories, listen to podcasts, or watch motivational videos. Hearing about others’ journeys will remind you that your goals are attainable and reignite your determination.

  1. Review and Adjust Your Strategy

Regularly review and assess your financial strategy. If you encounter roadblocks or realize certain approaches aren’t working, be willing to adjust your plans. Flexibility is key to adapt to changing circumstances and find new opportunities for growth.

  1. Stay Focused on the Long-Term Vision

Lastly, keep your long-term vision at the forefront of your mind. Remind yourself of the life you’re working towards, the financial freedom, and the security that awaits you. Visualize yourself achieving your goals, and let that vision be a constant source of motivation during challenging times.

Ultimately, giving up is not an option on my journey to financial independence. I’ve spent too much time wishing and thinking about this over the last decade, and I’ve finally got the right reason to pursue this path and stick to it. I can’t throw away my shot! I know I’m not the only one looking to reach these financial goals for variations of the same reason I’m looking to break free. We just need to keep pushing forward, believe in ourselves, and embrace the challenges as opportunities for growth. Financial independence is within our reach! Stay strong and persevere to reap the rewards of your hard work and determination.

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