The Path to Take for a Brighter Life: Financial Freedom

We have our own versions of success in life. We also have different goals at different points of time in our life. But one thing remains the same in that- there will always be money involved in all that we do to achieve our goals. After all, the best way to enjoy life is by being free from worry about making ends meet, where all options are at your disposal without worrying about the cost. While you might not realize it yet, it is the life of financial freedom that we all yearn for – a life where education, health, and even long-awaited dreams become attainable realities.

Unlocking Dreams, One Step at a Time

We all have dreams, waiting for the day they can transcend from reel to real. It could be that house you have been wanting to have, traveling to exotic destinations, earning a degree you never got to finish, or simply having the peace of mind to pursue your passions without worrying about finances. 

Above are my personal goals in life, but for the main goals of me and my partner? 

To break the generational cycle of financial dependency and not rely on our children for financial support. This vision is our desire to create a legacy of self-sufficiency and empowerment not just for us but for more generations down the line.

The Journey to Financial Independence

From the recent SunLife Sun Talks by Ms. Jenny del Mundo, the main thing that I learned is that any form of freedom or goal achieved would need a base. That base? Financial freedom. 

Because financial freedom, means having choices. 

Now, achieving a life unburdened by financial worries requires a strategic approach. Sun Life, a trusted partner in the journey to financial independence, offers the tools and expertise to help you get there. They have well meaning financial advisors that can give advice and tailor our roadmap to said independence and empower us to take control of our financial future.

What is income continuation portfolio?

Ms. Jenny also mentioned her main driver, The income continuation portfolio concept. The point of this is it ensures that a family's lifestyle is maintained even if the main earner's income stops due to illness, disability, or death.

Ms. Jenny's personal approach involves earning, spending, and investing to secure her family's lifestyle in case of unforeseen events. Her husband shares the same strategy. Their insurance investments aim to prevent financial hardships for the grieving family, avoiding disruptions like halted education for children or losing their home to loans.

Mapping Out Your Financial Goals

Turning dreams into reality begins with knowing which stage you are in your life and planning it out accordingly. I've mentioned in my previous post the four important life stages that each of us may encounter on our financial journey. here's a refresher for you: Getting started, Moving up, preparing ahead and leaving a legacy, ensuring lasting golden years. With the right financial methods, we can navigate each stage effectively, embracing the changes that come our way.

Sun Life's financial advisors are well-equipped to guide you through a comprehensive financial assessment. They will help you set realistic goals and develop a personalized roadmap to reach them. Whether it's planning for your education, securing your health, or embarking on your dream adventures, Sun Life ensures that your aspirations are supported.

The Key Principles of Financial Freedom

Ms. Jenny del Mundo, Sun Life Agency Strategy & Digital Transformation Head, offers valuable advice for anyone seeking financial freedom: "Buy early when talking about insurance because you can lock yourself to a lower premium." This principle emphasizes the importance of starting your financial planning journey early, ensuring lower costs and greater benefits in the long run.

Financial freedom means having the power to make choices without limitations. It's about being in control of your financial destiny and having the flexibility to take calculated risks that lead to personal growth and achievement.

While my husband and I don't have as much policies (yet) like how Ms. Jenny has, I know that we are on the right track with making sure our other investments are working to make money for us. But that money we don't spend too much on our wants, instead we spend it on more investments that will ensure us that money for life.

The journey towards a life unburdened by financial strains is a difficult but empowering one. It's a journey that requires determination, discipline, and informed decision-making. By embracing key principles, understanding the different life stages, and leveraging the power of insurance policies, you can create a roadmap to financial freedom.