Are you financially independent? Here is a template to help you document your financial independence plan. Get a pen and paper and start writing. Practical exercise 1: Clarity about what you want to achieve in life (a) Write down your vision (where do you want to be in 5 years from now). What exactly do you want to achieve in the future? Please take the time and write your vision below. ___________________ ____________________ Example 1: “To be financially independent and knowledgeable with good health and social respect.” (b) Write down your mission (how will you get there?) Your mission…
First F, Financial Independence – understanding the point of retirement
If you don’t plan for your net income properly, you will continuously be in debt. This will make you live in worry. You don’t need that. Do you? Graph 1 and 2 below illustrate the point of retirement and poverty point. In the above Graph 1; unless you are lucky to be born in a wealthy family, your wealth (driven by your earning potential) starts from the bottom (0). The thick or darker line represents productivity and the lighter one represents wealth. Your wealth will grow or stagnate depending on your productivity, financial discipline and shrewdness. Most people start earning…
Chapter 2, Your First Key to a worry-free life
Master the Five F’s to positive Mindset To live a worry-free life, you must master and apply the five Fs to happiness and proper mindset, which together form the first key. The 5-Fs refer to the five critical areas of your life that you must balance to be successful. It all starts with your mind. You need to have the right mindset. To be happy, you need to be clear of what success means to you. Is it about owning 20 apartments in affluent areas of Kololo in Kampala (Uganda), Nyarutarama in Kigali (Rwanda), Lavington in Nairobi (Kenya), in Manhattan…