How to Give Yourself the Gift of Freedom

Every year in November and December, millions of American families celebrate Chanukkah, Christmas, Diwali, Kwanzaa, or some combination of the four. And while each holiday has its own unique origins and traditions, they all have something in common: they usually involve giving gifts to family members, friends, and those who are in need. As we head into the new year, however, I want you to think about a gift that doesn’t typically feature at holiday celebrations. It’s a gift that will pay long-term dividends for you and your family. Its impact can even ripple out to benefit your community. It’s the gift of freedom, and I’ll tell you how you can give it.

Think About Where You Are

To know what kind of freedom you want and how to get there, you first need to understand where you are. Just like when you’re taking a road trip or going on a hike, you first need to orient yourself before you can figure out how to get to your destination. Self-assessment is key.

So before you can give yourself the gift of freedom, you need to ask yourself some questions. Think about where you are in your career and personal life.

What are your current job position and responsibilities? How long did it take you to get to this level, and what did you have to do to achieve it?

What are you really good at, or what do you enjoy most about your job? What are the skills and expertise that make you a valuable contributor at work?

Is your work fulfilling? Do you feel that it uses your skills and expertise to full capacity?

How do you feel about your compensation level?

What is your family’s financial situation, both short- and long-term?

How are your relationships with your spouse, children, or others who are very important to you?

If your marriage or other important relationships are rocky, is it because you work too much or are stressed all the time?

Think About Where You Want to Go

Next, you need to consider your destination. This is the part where you define what “freedom” means to you.

I’m a fan of goals laid out in 5- and 10-year plans. If you’re in your late 40s or older, your plan should also include some concrete ideas about retirement. Questions like these can help you create a good plan:

What kind of work do you want to be doing in 5 or 10 years?

If you don’t feel fulfilled in your current job, what would fulfilling work look like for you?

What are your 5- and 10-year financial goals? How much money do you want to be making, and are there big purchases (e.g., college for your kids, a second home) you need to plan for?

Do you anticipate any significant new demands on your time in the next 5-10 years? E.g., do you expect to have to care for aging parents? Will there be grandchildren you want to spend time with?

What kind of retirement do you want? Are you looking forward to giving up work, or are you concerned about staying mentally and socially engaged?

What kind of nest egg do you need to fund the retirement you want?

What do you hope your marriage or other important relationships will look like in 5-10 years? Is there anything specific, such as travel, that you want to do with your loved ones?

Do you want to continue living in the same location, or do you want to move to a new house, city, or even country?

Consider Your Route

Now that you understand where you are and where you want to go, it’s time to ask yourself, “Can I get there from here?” Think about whether you feel free now and, if not, whether maintaining the status quo will eventually get you to freedom.

For many of the candidates I work with, this is the point where they realize they need to change course. They see that they can’t reach their most important goals by staying in a supposedly secure corporate position and that giving themselves and their families the gift of freedom means striking out on their own. Here are some questions you can ask to determine whether you need to do the same:

If your current job is not fulfilling, can you find fulfilling work by obtaining a promotion or continuing your career at another company?

If you’re not currently making as much money as you’d like, can you reach your desired level of compensation by obtaining a promotion or moving to a new employer?

Given your age and other factors, are you likely to achieve that promotion or find a job with another employer with enough time left in your career to enjoy the outcome?

If you’re going to need more time for personal matters–such as caring for aging parents–will your current career path allow for it without requiring you to sacrifice your professional or financial goals?

Is your current career path compatible with your retirement goals, both from a financial standpoint and from the perspective of how you want to occupy your time during retirement?

If your marriage or other important relationships are on rocky ground, what’s likely to happen to them if you stay the course? Are you OK with that outcome?

Lean Into Your Fear

At this point, you may feel good about the path you’re on. You may feel confident that your current career trajectory suits your personal, professional, and financial goals. Or you may feel like it will suit your goals, if you make a few minor changes. Maybe you find your work fulfilling but just need to earn a new credential to be eligible for your desired salary bracket. Or perhaps you want to move up one rung on the ladder, either at your current employer or another company. If that’s your situation, congratulations! You’re achieving your definition of freedom, or you’re well on your way to it.

If that’s not your situation, however, you may be feeling anxious. You’ve realized that you’re going to have to make a radical change to reach your goals, and that kind of realization naturally stirs up fear. Many people think that fear is a warning sign–that it means they’re on the wrong track. Others think of fear as something to be ignored or pushed away. I have a different perspective. I believe in leaning into fear, examining it, considering why it’s there. Fear is instructive. It is indeed a warning sign, but not necessarily one that you’re on the wrong track–just one that you need to pay close attention to where you’re going. Use your fear to identify the areas where you need to be careful or thorough, and then harness the energy it creates to propel yourself forward.

Make a Plan

This is your final and most important step, and one you shouldn’t take alone. Goals are nothing without a plan to achieve them. Now that you know where you want to go, and that your current course won’t get you there, it’s time to figure what kind of course will.

Franchise ownership is a fantastic way to give yourself and your family the gift of freedom. If you think you might agree with me, set up a call. The first chat takes only 20 minutes, and all my services are free to my clients. I can help you complete your self-assessment process and develop a concrete plan to choose just the right franchise for your skills, resources, and goals. The gift of freedom isn’t like a holiday gift–you have to work much harder and wait longer for it. But you’ll be more thankful for it than for any present you’ve ever received.