It can actually be a daunting thing to have paid off all of your debts. After putting all of your time and resolve into become debt free, there’s a void, a feeling of something missing when you no longer have to be so focused.
It’s common to feel a mix of emotions, from relief to uncertainty. Even depression (a reaction to loss). What then do you do next? How do you get motivated for the next part which is moving from underwater to actually walking on land?
The first thing is, don’t rush. Give yourself time to let the dust settle and adjust to your new reality. You deserve to take your foot of the pedal. Take this opportunity to reflect on the lessons you’ve learned and the habits you’ve developed during your journey to financial freedom. Go traveling, walk your dog, quit your job, start training for the next Barkley Marathon. Or just do whatever.
Remember, being debt-free is not just about eliminating financial burdens; it’s about regaining control of your life and making choices that align with your values and aspirations. Embrace this new chapter and make the most of the opportunities that come your way.
There will come a time to shift your focus towards building wealth and securing your financial future. This is what Jim Rohn called securing your financial fortress. One of the best ways to do this is by investing. Investing should not be confused with speculating. That’s where you lose all your money by “investing” in that poor Nigerian prince that’s waiting for billions of dollars from his dad the King. All you have to do share in the wealth is, please, you’ve got to help me, wire a few thousand dollars his way.
It’s time to look at what investing really is. And it starts with preserving your money. If your money is going to work for you, it needs to grow over time.
If we’re looking at different investment options, the number one investment you can make is in yourself. Education and training in skills that actually work for you will turbo charge your money making potential. There’s big ticket investments in real estate, there’s indexed mutual funds, gold and silver, digital assets and more.
But if you want to increase your earning potential with entrepreneurship, or transform your life into something you actually like, then investing in yourself is the best investment you can make.
