Financial Freedom Will Be In Everyone's Grasp

in LeoFinance2 months ago

We are entering a completely new era in humanity. Things that were constant in our daily lives are changing. It is a process that operated on the time frame of decades, yet could be consolidated to years.

For example, 30 years ago, the Internet was not part of our daily lives. Today, however, for more than 5 billion people, it is a part of our experience just like electricity is.

Advancements like this are opening up many new opportunities to people.


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One is the idea that everyone can be financially free. This is something that eluded most of the population throughout history. Instead, our lives were filled with the struggle for sustenance. With some of the developments taking place, this script is being rewritten.

To start, it is best to get a definition of financial freedom. This is going to be highly subjective but this is the one that I prefer:

The ability to sustain oneself (pay the basic bills) without having to work.

If one achieves this end, he or she is financially free. Of course, the person is free to work if that is desired. The key is the paycheck is not the sole reason for going down that path. This individual also has the freedom to choose the type of work involved in.

It sounds like a worthy goal and also a pipedream for many. However, this is the plight of the wealthy. For most, they have the means far beyond sustaining themselves. At the same time, many, if not most, opt to keep working even though their resources will far exceed their lifespan (short of being extremely stupid with their spending).

From a societal standpoint, how can this be achieved?

This boils down to either making everyone wealthier or driving down costs. Essentially, wealth is buying power. It reflects what our resources get us.

Obviously, this can vary greatly depending upon geography.

What is fortunate is that we are embarking upon a time when the above solution is not employing one of the conditions. Instead of either making people wealthier or driving down costs, we are getting both.

Basically, over the next decade plus, the individual income statement is going to see a rise in the income (the left side) and a reduction in the expenses (the right side). This will only accelerate the entire process.

Income

Many involved in cryptocurrency believe it will be the greatest wealth generator in human history. The early days of the industry certainly reflect that. At the same time, we are seeing the ability to distribute the wealth on a much broader scale. People are getting involved with nothing yet are starting to build a foundation of assets.

This is leading many to pull in more money than they previously did. Even if it is in addition to their existing income, it is moving them towards financial freedom.

One of the big keys is the way that activities, especially online, are being rewarded. Cryptocurrency has the ability to monetize any activity. This means that, in the future, a lot of what we do for free will be an income producing activity. The recent addition of NFTs, providing digital ownership, is another step in generating wealth for individuals.

Decentralized Finance (DeFi) is also another area that is garnering a great deal of attention. This is a sector that is opening up financial services to the world. Once again, we see the present financial system exclude most people. As the system evolves, along with people amassing more value in their holdings, they will be able to collateralize their assets for other things. This can potentially provide a lucrative return.

For example, imagine being able to collateralize a mortgage with one's Bitcoin holding. The loan is paid back in some other token (currency) yet the Bitcoin is still retained. Thus, any increase in the value of Bitcoin is accumulated while the loan is being paid off.

We also could see the lenders be thousands of people from all over the world seeking a return on their money. With fractional lending, the average person might put in a few hundred dollars towards the loan.

And this is all done without gatekeepers or rent seekers.

There are going to be untold number of opportunities for people to enhance their "cashflow" via cryptocurrency. Over the next few years, the innovation, especially as it pertains to finance, is going to explode. This will offer a much different financial future to billions of people.

Expenses

Here is where things get very interesting.

Digitization is extremely deflationary. As soon as something enters that arena and falls under information technology, the prices plunge. This is what provided us with reduced costs in things such as computers, robots, televisions, and entertainment.

The key here is this process is just getting started. We are seeing the same concept spreading to many different industries. Today, we are early on in the process yet, within a decade, things will be completely different.

When we look at the production of much of what we need, there is disruption taking place everywhere. This will affect the prices of food, housing, education, and clothing.

If one wants to keep up on what is taking place, follow 3-D printing, robotics, AI, EVs, and renewable energy. All of this is going to factor in across the board price reductions for most items. It is important to remember that all of those have digitization heavily factored in.

For many industries, we are dealing with Version 1.0. The first generation of technology tends to be clunky, slow, and expensive. That changes as upgrades are done. Then we see the ability to scale take place as speeds increase, efficiency is achieved, and prices come down.

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This is a radical difference for the majority of humanity. As we progress further into this decade, this will become evident to more people. Technology is forging ahead at a massive pace, disrupting most everything we can think of. This is where the right side of the income statement is going to benefit.

Complex systems tend to keep expanding, thus generating even more complex systems. When this happens, much of what applied to the previous systems is negated.

We are seeing that today with many of the ideologies, policies, models, and approaches rapidly becoming insufficient. Those are are holding onto ideas for the 1990s or earlier are going to find that they are unaware of what is taking place.

It is better for people to lack onto the new concepts that are emerging earlier if they can. Getting a head start on where things are going is extremely important.

This is why early adopters tend to be rewarded to a greater degree than those who join later.

Either way, all are going to benefit from this shift that is taking place. We are on the cusp of a technological explosion and cryptocurrency/blockchain is right in the middle of it.

Those who are building along these lines are going to find themselves in a much different position, if they haven't done so already.

Financial freedom will be within everyone's grasp.


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Although I have added some tokens to liquidity pools, I keep most of my crypto savings in BTC and ETH; doing nothing. earning nothing.

I've staked 1 ETH into the ETH den on cubdefi.com this morning and started thinking about this:

The ability to sustain oneself (pay the basic bills) without having to work.

I'd only need to stake about 6 ETH to be able to achieve the first step in financial freedom: paying the bills without having to work. The only thing holding me back is the possibility of losing my ETH in this case.

I mean, they're not in my wallet.

I've read over and over "not your keys, not your crypto"

So, what are your thoughts?

put your savings to work and take the first step in financial freedom?

is this unreasonable newbie fear I'm experiencing?

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You obviously have to be comfortable with what you are doing.

I've read over and over "not your keys, not your crypto"

Well the advantage to CubFinance is the track record shows that the possibility of the rug being pulled out is nil. That is often the biggest problem in DeFi.

I would say you are looking at more of the impermanent loss associated with yield farming. That is okay because you make it up on the paired token and it is usually temporary. The idea with farms like that is to get in early and just reap the rewards as they come.

Perhaps it is best to sit and see how things go for a while. There will be more opportunities for gain as development takes place. The Kingdoms are next so you will be able to expand your position when you feel the time is right.

In the meantime, collect and accumulate those CUB tokens.

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The point is to be free and not be chained to having to do something - ie. working just to live and continue on the same hamster wheel. Bit by bit our activities will earn money naturally, wealth will accumulate and be put to use, and costs on the other side will come right down. That will lead to the abundance you speak of and people can look towards creating what they want to create!

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That is the basic essence of it. We are seeing a lot of people starting to understand that concept, especially on Hive.

With the layer 2 solutions starting to come into their own, we are seeing ways of making money. Our activities results in rewards which we then are able to put into projects that generate even more rewards.

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This is the goal..

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The prospect of crypto towards creating finacially free individuals in the nearest future is so awesome. I mean this wasn't even possible many years ago. I was talking with someone and they cant even envisage the possibilities of things like DeFi and NFT.

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It is hard for many people to follow along. This is so new. In a number of comments today I mentioned how you really couldnt explain the Internet to people. It had to be experienced and played around with.

I believe this is also true for crypto.

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Yeah and I believe it'll become more complex even if there will be so many bids to simplify it. Experience is what eventually allows people to learn and to gradually get into the mix and thick of how things works. So many knowledge to garner

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We are going to see expansion which will require all of us to expand out knowledge base. We are going to have to get involved in different things yet, in doing so, we will experience greater rewards.

This is how we can get ahead.

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Yeah, I somehow look at the time I have put in towards growing and it's been nothing less of challenging but then rewarding as well.

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This actually ties in to something that I have been thinking about a lot lately. I am not going to comment much about it here because I think I am going to write a full post on it. Keep an eye out for that!

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LOL will do my friend.

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financial freedom, it is that we are waiting for,
we hope with this we do not need uses a lot of entities that right now are blooding, our wallets
enjoy the life without bothering for the bills paid.
it is an amazing lifestyle, we hope make it posible with hive and other kind of blockchain
we are in the first part of the technological development, but we are here to enter before the masses will coming, and we have a adventage competitive for been here.

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It is possible. We are seeing it happen to people here on a daily basis.

What is interesting is how much easier it becomes when the gatekeepers are removed. Suddenly, outsized returns are possible.

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With the advent of crypto, it was so obvious to me that this would be a game-changer, that I ignored the naysayers and started to build. This new "digital revolution" has the ability to empower anyone wise enough to realize the the utility right in front of them. There is no going back and nothing will ever be the same again.

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There is no going back and nothing will ever be the same again.

I agree with this completely. Digital technology radically alters anything it touches. We are seeing that in many areas.

Crypto brought digitization and the Internet to money. Now it is an entirely new game for anyone involved.

Those who are here and remained diligent in that activities are starting to see the rewards for their efforts. The concept is becoming abundantly clear.

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I have gone through this and I have really understood that Cryptocurrency is the only key to financial stability and breakthrough. I don't know how to get LEOPOWER LP. I don't even have any Leo.. how do I start this journey...??? I really need your help friends...

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LEO is paid out a week after you receive upvotes on your content. I just upvoted this comment so you will get some LEO a week from now.

Once you receive that, you can stake it which will then give you Leo Power. To stake, you just go to your wallet and there is a button there.

As for getting started, you already did. Adding comments to posts is a great way to get involved and start engaging. This will get you some upvotes and start filling your wallet.

Another place you might find helpful is @leomarkettalk. That is a place where a daily post is put up and you can go into the comment section to interact with others. It is also a place to ask questions and get to know people.

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Thanks so much, well appreciated for the information

Financial freedom is a dream for many and for some it may come true. The other day I was thinking about what exactly financial freedom means. Total financial freedom means you don't have to do anything and you are free to do anything you want.

I'd be happy to reach a certain level of financial freedom and I believe we have the opportunity here, will and knowledge is needed.

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Crypto is offering that path to people.

The question is will people put in the effort to get there?

Some are, most are not...at least for now.

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Those who have the possibility and don't put in any effort deserve to suffer. These are the people who are used to handouts.

In a decentralized world you can't blame others while waiting for handouts.

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It is definitely one of my goals and why people should start filling their bags. I would like to be free of the shackles of work and focus on what I want to do. If it means making money while doing so, its even better.

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This should be a goal of all people. It is an opportunity that is being presented to people crypto in general and especially on hive.

Amazing but the only thing one has to do is get involved and you will be financially free. It is just a matter of how long it takes.

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This is the concept that most legacy system proponents don’t understand. You are either middle, poor, or part of their club. What they are missing is soon everyone will be part of their club.

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The club is being changed that is for sure. A lot going on throughout the tech world that is going to change everything.

Right now, most are in the poor category. Even the middle was diminished over the last few decades.

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Crypto is truly an amazing way to gain financial freedom. Doesn't mean we shouldn't be smart about it, invest wisely, etc. And at times it may not feel that way, like when I got in at the end of 2017, haha. But perseverance pays off. And if you don't go into it with the get rich quick mentality, it's awesome.

Weathering the bear markets can be tough. Not doubt about it. That is why I feel long term outlook is crucial. People need to realize that the bear eventually does end.

However, it is during the bear that one needs to build.

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So true! I bought at the peak of the 2017 boom. Then downhill from there, I was a little miserable for a bit, haha. But didn't sell, just held. Now, look where we are. So awesome.

Many involved in cryptocurrency believe it will be the greatest wealth generator in human history

I also have the same thought and it will certainly work like this in long term. Crypto is indeed a way to create financial freedom and millions of people are in this space for the same reason.

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Life changing money is what I believe possible.

Hence, if it is possible, why not go for it?

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When it comes to every day expenses like food and clothes I think you are right that they will get cheaper, but things like education and healthcare will continue to remain expensive, because they require highly trained people on one hand, and medicine for example always tries to implement the latest technologies which will always be expensive.

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Education is being digitized. The price of that is will plummet.

You are right about healthcare except that we are going to see a radical transformation in how that is approached. So cutting edge technologies will still fall under information technology which is very deflationary.

Skilled personnel will be multiplying when joined by AI (if they are not replaced as in some sectors).

Plus, I dont know about your country, but healthcare is full of gatekeepers. These will be eliminated at a great savings.

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The private healthcare sector in Romania is tiny compared to the States, most of it is state own

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I hope it does and that it changes the entire world

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Great and very interesting post @taskmaster4450. I gave you and upvote and will rehive your post...

Financial freedom is everyone's dream of wanting to live doing what they really enjoy and I hope that this will become a reality for everyone, very soon.

You are probably right about this. We are already experiencing the increase in income which has the potential to be cvasi-generalized, but many still struggle with a scarcity-based mindset, and I believe it will take a while for the majority to make the switch to a mindset of abundance. The cutting costs have been going on for decades and I'm sure will continue to happen as technology advances.

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Many people are terrified of change and prefer to anchor themselves to the most widespread way of earning money: "working their backsides off" and often without achieving the financial freedom you are talking about. Despite how disastrous it has been, the pandemic has led many to seek the digitization of their productive activities to generate money and in turn seek to enter the world of cryptocurrencies as a way to grow assets. And so it is as you say: better to start now in this digital and technological maelstrom with emphasis on cryptos and not wait later to make profits.

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