You Need to Stop Chasing Financial Freedom
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- Опубліковано 1 лип 2024
- Here's why you need to stop chasing financial freedom. Financial freedom and independence is not what you actually want. Instead, this is what you should chase.
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0:00 Introduction
0:34 The Research Study That I Foolishly Ignored
1:24 I Didn't Care About This, So Here's What I Did
2:57 Can You Relate To This Way of Thinking?
3:34 What They Don't Tell You About Financial Freedom
5:10 I Kept Having These Negative Thoughts. Do You?
6:04 Here's What You Should Actually Chase
7:36 Don't Get The Wrong Message Though, Let Me Clarify
8:05 1st Reason For The Clarification
8:30 2nd Reason For The Clarification
9:34 The Secret Formula To Reach It
10:20 My Final Advice To You
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All opinions expressed by Vincent Chan are solely Vincent Chan’s opinions. You should not treat any opinion expressed by Vincent Chan as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Vincent Chan’s opinions are based upon information he considers reliable, but does not warrant its completeness or accuracy, and it should not be relied upon as such. Vincent Chan is not under any obligation to update or correct any information provided. Vincent Chan’s statements and opinions are subject to change without notice.
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In case you were worried, I burned fake money for the thumbnail :P. No real dollar bills were harmed in the making of this video.
hahhaha
you're the asian gary v.
Hopefully you can read my comment. Your videos are great, but it's nicer if you speak slower. It's a bit tired to try to catch you up with ppl use english as the second language like me. Thanks :)
@@matr7584 you can slow down the video in the settings "playback speed", for me its too slow so I watch on double time
haha burning dollars would be a good thing at this point!
I think financial freedom is just the icing on the cake, while being genuinely content with your life is the cake itself
that's spot on! thank you for sharing :)
I would think the same, but I can’t, because I haven’t achieved financial freedom yet. Once I have it, I will say what I think about it
I've just started realizing this.
I’ll be genuinely content with my life when I have financial freedom. How can anyone truly be happy while being a slave to money?
Wow! That’s a great saying.
"Working hard does not mean you will reach financial freedom". Damn this hits hard
Then why work hard when you cam work smart
I’ve been poor and rich , and I’ll choose rich over poor any day .
Wouldn't the better comparison would be Middle income versus Higher income in regards to this video? Everyone would choose to be rich rather than poor lol
@@Hakasuma Ive been rich, poor and middle income. Rich wins everytime.
But, that's obvious though 😂 However you'd be surprised that some people are actually scared to be rich due to a number of reasons. But....they don't wanna be poor. No one really wants to be poor.
One last note....rich doesn't have to be millions or even half of a million. You can be rich with even $80k yearly. And damn near poor with $2M...All dependent on the individual's lifestyle and habits.
As the popular quota says: “It’s better to cry in a BMW, than in a bicycle”
That's not what he's talking about in this video. He's talking about when you reach the point that money is not going to solve your immediate problem and when your needs are fully met. At that point, increasing income will not change your outlook on life. He's suggesting that before you reach this point, work on your emotional freedom because at the end of the day, the emotional freedom is where the happiness lies.
Being financially free will definitely increase someone’s happiness if they a) hate their job. b) their job is taking too much of their time
c) neither. It brings happiness because it allows one to work because they want to rather than need to.
@@Iceman219 that's what I want
I would like to share my story. Im sorry that its a little all over the place lol. I grew up in a poorer household and so having money and being able to buy whatever I want was always very important to me. I, also being raised in a poorer household, learned poor money management skills and tragically fell into the consumerism trap (but as opposed to my parents I have very minimal debt). Something I've realized recently after pursuing different lifestyles and aesthetics is that I don't want a life where I have a lot of money. I want a life where I don't need money. A life where instead of striving for the newest pieces and habits of whatever new aesthetic I think will make me happy (since the last didnt) I am going to focus on filling my life with quality, practicality, and time. In this I mean that instead of buying a new pretty item for my house for example, I will look for an older quality piece that is practical to my life. Something important for this is to look for patterns in my current life. I tend to wear similar things and not touch the others, I tend to use a certain cutting board or spoon and not touch the others. So when looking at these items I find a pattern: I don't reach for my super aesthetic marble looking spoon when I cook, instead I reach for my wooden one. The reason for this, I believe, is I like the quality and stiffness of the wood one more, it's more practical. I reach for my super thick knit cardigan more than my other ones (even though I think its unnattractive) because its much higher in quality and is more warm and comfortable and worthwhile to wear. The quality and practicality of an item is what makes it worthwhile and in our life we should be striving for things that are worthwhile. Worth our time, worth our money, worth our space. Now to go back to a life without the need for money, in finding items like this I will only need to buy them one time. This saves me a lot of money as I won't feel I need to go and buy new ones when the last one "didn't work", I won't be relying on money to make me happy or to attempt to make me happy as it will be a means to practicality rather than joy. With having the higher quality pieces that are for practical use I'll have more time and security to then pursue things such as crafting. In my opinion crafting/creating is a major thing for humans and so crafting our own bread, repairing a hole in our pants, creating a recipe, crafting a bowl for our kitchen, or painting a painting for a loved ones is one way to find fulfillment and requires little to no money. A life where I don't need money is a life where I have a lot of time.
I think happiness is a temporary thing, like any other emotion. I definitely want to get financial independancy by investing but I don't want to chase after something while thinking "I'm only going to be happy when I achieved that", no. I'm living NOW and I can give myself happiness NOW. I.e. by buying my favorite chocolate this month even though it's more expensive. Investing. Taking breaks and allowing myself to relax. Listening to my feelings and setting boundaries etc.
That's called living. Thanx for sharing
I worked really hard and got promoted up the ranks until I had a 6 figure salary. It was fun for a few years, but what is often not mentioned is, that level salary comes with an 80 hour workweek. When you calculate the pay per hour it was about the same as where I started. The workload wore me down and hurt my health. I was able to retire early, yes, but at what cost? All the pressure caused high blood pressure and that caused kidney and heart disease, so after 6 years of retirement I’m not even well enough to travel and do the things I planned.
That study is outdated. in expensive cities like Toronto (Canada) you need to have a 200K+ so you could be able to buy a house and live a comfortable life.
I agree with you but honestly the best thing you can do is move away, seriously so many nicer areas in Canada that aren’t as expensive to live in.
@@TheAssassinManny 💯 agree
I think he was stating it generally not as in this applies everywhere
In Cali you need 500k 😆
@@teeng6940 That explains the homeless crisis over there.
I will stop chasing financial freedom when I’m financially free/debt free. Currently have massive student loan debt
“Stop chasing Financial freedom”
-UA-camr
UA-camr winning money off of your pain
The secret of happiness is to enjoy what you have. You set your terms, you’re the owner of your time, you determine what to do and when to do it. That’s pure life 😎 thanks for the video
... Unless you're married, of course.
Right on…it’s not money…it’s the freedom that money brings which leads to happiness 🙏
Eh.. don’t you need financial freedom to do that 😂
@@boddisk marriage is overrated. why would you want to be tied down with responsibilities ?
I made and saved enough money that I was able to put a good size investment on stocks and crypto(50,500$ worth) that I live off day trading, I don't even spend more than 4 hours a day making and planning trades.(and I'm not even good at it) I still make enough money to live off and still invest my profits on more investments. Been living free for 2 years now being a "deadbeat" and man I forgot what it's like to work for someone and having to wake up to a alarm lmao. Life is good. now I'm working to just to be the best father possible for my kids. Another thing is when you have so much free time that staying healthy and active takes no will power. you just get the urge to run or workout to not feel like shit sitting around all day. Otherwise having the will power to go the gym after work is near impossible for most people.
I love how impatient you look in that outside shot 😂
that wasn't acting LOL it was getting REALLY outside and I already took so many video shots that I wanted it to be over with
I made it to financial freedom 3 months ago. It took me about 12 years of grinding, but it’s totally worth it.
I don’t care much about what money can buy, I still live below my means, what I care is that I’m no longer forced to do things that I don’t want to do. Some people love their job, but I never did. All the jobs that I had were soul sucking. My only way out was grinding, saving as much as I can and investing.
👏🏻👏🏻
A lot of people want a good lifestyle but the way they spend can't see them get that lifestyle anytime soon the better rich invest more and spend less
I invested in both Stock and Cryptocurrency but I see Crypto doing more better and profitable to me
Investing in cryptocurrency is one of the best chance of making money 💸
I wanted to trade Crypto but got discouraged by the fluctuations in price
That won't bother you if you trade with a professional like Mr Walter Peters
I heard that his strategies are really good
Mindset is everything - I kept hearing this my entire life but the lightbulb went off in the shower a few months ago, and I've taken the steps I need to unlock maximum happiness by living in the moment. Thanks for the video.
That's fantastic to hear :) thanks for sharing and watching farzad
Very true. Emotional freedom is important and it will help to work towards that first/simultaneously with financial freedom. You will always struggle with emotions. This is part of it. This is always going to be a part of you
Wow, this is so powerful. I had a very hard childhood and this is exactly what changed me for the better. I just couldn´t describe it.
Thanks for this content Vincent! Realized a lot of things!
Loving these new philosophical type videos Vincent!
thank you bryan!
Really appreciate this video at such a crucial time in my life as it really spoke to my current situation. Thank you!
You're so welcome!
I went through this, I left my job in 2016 and out of fear went for another one, spent one year there and they let me go but I have never gone back to full time work. I have started my own business which has done well and hasn’t done so great, I work a part time job now and I’m going to school. I say all that to say that yes I have spent a lot of time in these last few years on emotional freedom. It’s a lot of work to change the beliefs at your core and understanding that we can be free and fully accountable for our lives and happiness.
Financial freedom for me is not having to shave off years off my life stressing out from work, and to not having to worry about being able to live comfortably without working. 75K in today's economy doesn't do anything towards that. You still seem young, but in my age, your body begins to fall apart and you start worry about whether you'll be able to continue to work, even if you wanted to. You can't afford to stop working altogether with 75K.
You probably live in the US, there are so many cheap countries you can move to when you retire
@@bhyyrttf whos tryna work their whole life to retire in "cheap country"
@@nigel3018 ud be surprised 99% of other countries are cheaper then the USA for the price of a one bedroom house in the US u could buy 3 -5 rooms in another country. Examples of cheaper countries that I'd love to retire in japan South korea United Kingdom Ireland.
@@Jgrant711 you are probably comparing 1 bedroom in the expensive areas like NY or cali to some cheap place in other countries, and thats just not a good comparison. for places like SK/japan, if you cant speak the language fluently you would probably end up needing to live in expensive cities where there are a lot of foreigners. those places are just as expensive.
@@zfqhdjgyb2222 eh for ME it'll be cheaper ive stuided korean for years^^ my current rent is 2500$ for a 1 bedroom apartment anything in Korea would be cheaper.
Hey man, I’m writing this on my lunch break and just randomly came across your video. Your words hit home during the “emotional freedom” part. The whole video actually. Honestly I can’t describe it. Thank you for this. 🙏🏼
YESS!! Totally agree! Love this! Keep the great videos coming.
“How do you know what I want? “Haha I only want to be able to enjoy more of my time.
100% agreed!
Your videos are like a mashup of all my interests altogether (minimalism, stoicism, self development, financial freedom). I'm happy you were born 😁
Well said Vincent 👏 👏
Vincent, this video is such an inspiration! I loved how open and sincere you are. 👍👍👍
After watching a few vids I’ve subscribed. I like the way you put thoughts and words together. Things I’ve figured out but can’t word it and here you are doing an amazing job putting it all together. Thanks Vincent.
Thank you for making this video
thank you for watching Michelle! I've always wanted to visit Malaysia - I heard it's a beautiful country.
I spent a decade of my professional life miserable, read The courage to be disliked, went to therapy, switched to a less stressful job which I still dislike but I'm reminding myself what I can afford thanks to it. I'm reasonably happy yet discontent with not having financial freedom and that's ok because it means I'll keep working towards it. There's always something missing; time, money, people, health etc so if you only focus on lack then you'll always be unhappy
The truth is, being happy is hard, and life just can't be always happy, sometimes you need to be sad, lazy, disappointed etc
Life is about experiencing and enduring it all.
Gratitude and being content is my aim.
Thanks Vincent for this video, you just don't know how this impacted me with my search for financial freedom and realizing that for so many years I did meager steps towards my emotional freedom.
Lovely video brother .thanx
Great video again Vincent!
Awesome video ❤️❤️❤️ thanks for sharing
Great video! Thank you for sharing your thoughts
Wow! Nicely said! Kudos! Thank you for sharing!
Great video! Great message!
Thank you so much for sharing this enlightening message with the world! I hope more people can see this video.
Right on the money vincent , thanks brah!
thanks for watching ade!!
Thats what i go through now. So needed to hear about emotional freedom. Thank you!
Hey Vincent, just subbed today. Wanna say thank you for the hard work you put in with these videos. Sleep well at night knowing your work on here does indeed make a difference. You're awesome bruv 🦾
As someone who is “free”, you need very very little to enjoy life. Nothing is as satisfying as knowing every day I wake up, I tell myself what to do for 24 hours. Learn to appreciate just being alive and you won’t NEED anything but the basics and ENJOY them.
at first I was chasing financial freedom and realized after 2 years in college that what I really wanted was to be happy and doing the things that I loved.. btw this content a great reminder for me Thanks!
I love this video Vincent! Great production quality & fantastic video.
thank you erika!
This was a good vid bro, really made me think deep!
so lucky I found your channel loving the life + money knowledge that you're sharing on here!
@Vincent Chan I definitely agree that Financial and Emotional freedom are important together. Initially, I mainly focused on financial independence with little improvement. This year I been putting more focus on my emotional mindset. Surprisingly, it’s been making the journey to financial freedom more enjoyable and I been receiving more fun opportunities to grow financial without being stuck to a 9-5 schedule. Hope we both get to an emotional state we want to reach.
Thank you for great insight
This is so insightful. The concept of emotional freedom is very enlightening. Thanks for the video !!! (+ the formula is so on point)
I love this message, thank you for sharing it! It's so true!
Wisdom!!!!! Thank You❣️
This is so important!!! Thank you for sharing your thoughts and experiences 💛
Great video man!
Vincent!!!! Thank you!
thank you for watching brett :D
Your channel is really great, major congrats! Really appreciate all the valuable insights you bring, with honesty and humor. And the video production is great as well.
Vincent really is KILLING it with the editing. Love the video man!
Thank you Vincent. You seem like someone that'll be really nice to talk to.
Totally love your videos, your ideas and your message. I'm a fan!
love this, great stuff. so important to keep challenging yourself and keep dreaming
Great Video!
Love this so much. Big inspo x
According to one inflation calculator (in2013dollars), 75k in 2010 (when the study came out) is worth about 95k today. That would sound about right living in big cities in the US
Correct I was just going to say that about the money inflation, now it would be damn near 6 figures especially in places like NY and CA
Oh man ! Thank you, I needed it 🥲
Thank you Vincent for your wonderful video and sharing your most valuable knowledge with all of us,much much love to you
Thank you so much for watching, truly appreciate your comment :)
Being present and grateful everyday when you’re chasing goals is very tough, an art form that I think take a long time to get good at. Emotional freedom is a great term I haven’t heard it that way. Amazing content!
You’re videos are really good !!! Super helpful 👏🏻
So true thank you Vincent
Love this video Vincent. Really touches a lot of bases I was already thinking myself. Glad to see there are other like minds out there. Keep making content like this. 💯
Great way of explaining everything, you don't just focus on money but on the mindset, you just earned a new subscriber!
Your videos always make me think deeper about life! Great video and production.
love this so much, thank you for the great content Vincent
Never thought of freedom in that way.. eye opening for sure
Great video 👏👏👏👏
Really great video! So much more important to build a life you love right now... (although I LOVE supermarket frosting...)
Very well said.
Thanks for your insights on financial and emotional freedom, Vincent!
Nice work 💪
That's such a realistic reaction to your future self. If my future self were to travel back in time to tell me all these I would also be like " Are you done? Let me get back to slogging away at work."
Very insightful!
Think financial position/hapiness is a mindset and willingness to adapt. Too many people get stuck in a mindset of doing the same thing over and over again thinking it will lead to success. True hapiness comes from constant failures and be open to new situations/possibilities until you find some that works for a while.
couldn't have said it better myself nathan :) How are you doing?
Interesting 🤔
Damn, that went hard bro. I needed this. Good looks.
Your brother in spirit,
Eli 🙏🏾
i gotchu eli
great video, I agree after hearing your explanation. For some reason, even though I'm not doing financially stellar, I still feel emotionally calm. I guess I have it as a natural trait, this emotional freedom thing, especially when in a dire situation, I'm calm. I am sure, there are more people that feel the same, but hearing someone else share and tell it, is reassuring! ty
I have heard about this around the $75k, although I don't think this number applies to the San Francisco Bay Area, considering the cost of living is so much more expensive here.
This hit deep - excellent perspective!
The challenger sale was awesome great content keep it up bro
Wow i loved this video, and the message is Totally relatable. Thanks
Great video brother!!
Thank you!
Ive been binging on your content. So unique and different from every other UA-camr that talks about the FIRE movement and other financial freedom topics
Thank you
Iv been watching you Vincent for almost a year now and it is so cool to watch your channel develop. I think what you do is super important for a lot of us watching video after video. Keep it up man! I appreciate you and what you do!
thank you so much matthew!!
This just reminds me of the seven areas that Dave Ramsey says you can have goals in: Finances, Spiritual, Family, Career, Social, Mental, and Physical. I have since learned about two others from another source and they are Romance and Recreation. I think a few of these have their own places for helping with emotions but Emotions could be its own category too.
The video I need before the new year. Thank you Vincent 😊
Be blessed ❤
happy new year!
This is really good
omg thanks so much Ali!!
The way you use sound in your videos is so damn good! Love it
Have I told you that I love your videos.
I become motivated, filled with hope and confidence.
Predetermined vs Self determined really hit home.
What. If. Such a powerful statement.
Sending you positive vibes from South Africa. 🥰🤗
This was amazing
insightful!