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Financial Communicator

Did you know? The cost of independence.

Each post in July, has been talking about the American Dream. I wanted to end the month with a thought provoking, short post from Seth Godin. He discusses the cost of independence.

As an investor coach, I see how our money demons can have a habit of derailing us. Because with wealth comes responsibility and freedom to make choices. Whether it is being charitable, influencing groups, affecting the lives of family, your employees, and society around you. You can choose to embrace the responsibility of wealth, and create positive change. Or you can choose to place your head in the sand.

The more money and wealth that you create comes with responsibility. And the fear of responsibility can derail you from achieving your goals and purpose.

It's a money demon that can pop up.

That's a reason why Seth Godin's short post on the cost of independence is thought provoking;

And this is what he says:

The cost of independence

Freedom comes with choice and choice comes with responsibility.

Why do people willingly give up their freedom to a boss, a method or even a despot?

Why prefer a restaurant with a limited menu, or stock your freezer with one brand of instant dinner?

Why do successful entrepreneurs who start a new company take on investors even when they don't need the cash?

Why do so many choose to go into debt when they might be able to avoid it?

Sometimes, we willingly sacrifice our freedom because it creates an other, someone to blame. It gives us hard boundaries and eliminates potential choices. And mostly, it lets us off the hook, because someone else is driving the bus.

Trying to drive from the back of the bus might feel less risky, but it rarely leads to much agency, influence or control as to where the bus actually goes.

Careful what you do with the keys.

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Sunday, 03 July 2022

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