The Tyranny of Must-Haves — How Lifestyle Choices Hold You Back from Financial Freedom
00:00:00.000 | Well, this is what I call the tyranny of must-have.
00:00:03.160 | You say to somebody, "How would you like to be financially independent?
00:00:06.320 | You have enough money, you never have to work again."
00:00:08.200 | I don't think too many people are going to say, "No, I wouldn't want that."
00:00:11.440 | You know, I mean, everybody's going to say, "Well, that sounds great, but are you willing
00:00:15.280 | to pay the price?
00:00:16.280 | Are you willing to do the work?"
00:00:17.680 | "Yeah, you know, that sounds great, but I've got to keep this expensive house I have because
00:00:21.800 | we need to have the two least luxury cars, and of course, kids have to go to the private
00:00:26.480 | schools," and the list goes on and on, and that's the tyranny of must-haves.
00:00:30.600 | The more must-haves you have, the less likely you are to be financially independent.
00:00:36.320 | If somebody says, "Yeah, you know, I really want to start a business, but I don't want
00:00:39.820 | to give up my nights and weekends, and I want to go to two-hour lunches," it has to be perhaps
00:00:45.840 | the most important thing to you.
00:00:48.140 | So for me, there was nothing that my money could buy that was more valuable to me than
00:00:56.160 | my financial freedom than my independence.