Financial Freedom - Ship Ahoy
Ye-e ho!!! The rope was off, and anchor lifted. I had finally set sail. The shoreline was rapidly receding. The journey was well on its way. It was such a good feeling. Finally, after dreaming and planning, I was on my way?
Your Plan Is The Bridge To Your Dreams
Most people have dreams. Few have a plan. Fewer still start implementing their plan. Yet fewer still stick with their plan though thick and thin. I was already crossing the bridge to my dreams! It was liberating, knowing that you had left where you were, and have inched closer to where you are heading, or at least where you think you are heading. I was among the "Fewer"!!!
Rubber Hits The Road...
However, to keep on keeping on is where the rubber (or tire) hits the road. With insights gleaned from books on Personal Finance (like the Rich Dad series), I decided to start off by acquiring financial literacy. Taking control of your finances (as against letting it control you) was a whole new world to me. I needed to learn new vocabulary, what they meant, and how to use them. I needed to understand the language of figures. Hitherto, they were just figures. I learnt they tell a story when applied correctly. To the financially illiterate, they were just an annoying mass of figures that obscure the bottom line. I was resident in the UK at that time. I started reading Financial Times, Readers' Digest's Moneywise and Bloomberg Money. I scoured the web, and grabbed free offers of financial magazines (I was spoilt for choice!).
Somewhere down the line (I guess I must have left behind my foot prints online, or agreed to "receive e-mail offers from our partner organizations"), I started getting offers to from stockbrokers to invest. One came from a reputable stockbroker. I registered, and started getting phone calls from "financial advisers". My lessons were not complete. I felt the best way to drive the lessons home way to take a step. Their risk warnings, though in small print footers, were crystal clear. "These investments are not suitable for everyone?." You are further warned that getting your investment back was not guaranteed. I knew.
I felt the easiest way to join the fray was to fish in the stock market waters. I was on the look promising IPO's (Initial Public Offers). According to Rich Dad the fastest way to make it in the stock market was to be a selling shareholder. In this context, you came to the party before the IPO. You were there in the labour ward when the company was being "delivered". To be invited, you have to be a friend, family or a business associate. For example, giving $500 to Bill Gates will he pondered on what name to call his company. When the stocks get listed in the stock exchange, the party is over.
Well, I had no friend or family member who founds companies (how I wish!). My best bet was to look for a promising company, join the IPO wagon (just behind the inner caucus), and wait with bated breath as it gets listed in the London Stock Exchange (and wrestle with my spouse for the TV remote each night over which channel to watch!).
I Set Sail...
The stockbroker got back to me. I was game. The die was cast. I knew it could go either way. I knew that the lessons I learnt would come in handy in times to come.
History does not judge those who took wrong decisions, but those who took no decision at all...Anon
I would like to put it this way "History does not judge those whose decisions failed, but those who failed to decide". What became of that investment? That is a story for another day
I was advancing on different fronts. To be able to put up the money for that investment, I had to bring my expenditure under control and free up money for investment. I was learning personal financial management, stock market, unit trusts, managed funds, real estate etc. For years I had spent most of my after office hours in front of the TV. I was learning to read again. I found that the more you read, the more I expand your horizons, and the more options you have. I came to the realization that opportunities show up all the time. To make good use of them, I have to recognize them, be prepared, and ready (finger on the firing button). Learning was part of the preparation process. I needed to go back to school, or read during my spare time. I opted for the later.
I was still where I was in the rat race, but my mind had left the race....
Journey Begins