Steps for Financial Freedom

Steps for Financial Freedom

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Financial freedom is a term that is thrown around, but what does it actually mean? It’s probably best stated as being free of worry from financial issues. -- “Well, that’s one less thing to worry about.” But then there’s always the concern of “more money, more problems…” 

Put simply, financial freedom would be a situation where money is not something that occupies your time, worrying about how to pay for obligations and how to achieve finance related goals.

Surveys indicate that a very high percentage (about 65%) of Americans are stressed about their financial situation. 

Everyone’s financial situation is unique based on their individual goals and needs, lifestyle demands, etc. What concerns one person (overwhelming credit card debt, for example) may be completely different to someone else’s concerns (saving for retirement or a child’s college education, for example).

Here are some tips to achieve less stress and move you a little closer to the goal of financial freedom:

1. Present situation

If a tiger showed up at your doorstep, you would have a few options. Hide from it, pretend it wasn’t there, run from it, face up to it, or fight it. 

The “tiger” of financial problems is something that sits on a lot of our doorsteps. The best way to overcome it is to face up to it. You’ll never climb a mountain if you pretend it doesn’t exist. 

Take a good look at your financial situation as it is today. How much do you owe? How much do you earn? What are your spending habits? Are you saving for the future?

2. The future

Without a clear idea of what you are working toward, it’s highly unlikely that you’ll achieve it. Sheer luck might get you there, but unless you have specifically stated goals and a plan to go step by step and keep moving forward toward them, your goals will probably not be reached. 

As an example, let’s assume that retirement is the thing that tops the list of goals. How much do you need? Realistically, what will you need to live comfortably in your post career years? Come up with a number and a date by which you want to have saved that exact amount. 

This gives you a goal from which you can work backwards in setting up minor goals that make up that major goal. It also gives you a timeline to work with.

3. Daily activity

Now that you have your goals clearly stated and a plan to get there, put it into action. Everyday. Do something that moves you toward that goal. And before you know it, you will have made major strides in the direction of financial freedom. 


Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities. 

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. 

Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable-- we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC


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Founded in 1976, David Lerner Associates is a privately-held broker/dealer with headquarters in Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Teaneck and Princeton, NJ; and White Plains, NY. For more information contact David Lerner Associates Call 516-921-4200 Visit our website:

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Jake Mendlinger
Account Manager
516.829.8374 X 232

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