I’m interested in financial independence, are you?

I like the idea of my money working for me, rather than me spending all of my life energy working FOR money. Thank you to Vicki Robin for inspiring me in my 20s through her book Your Money of Your Life. For me money represents freedom to experience life on my terms, and to be in service to others. Those two goals make me committed to financial independence.

Are you curious why some people start out with little money and then become financially successful; while others come from wealth and end up in serious financial distress?

My fastidious research concludes that there are no shiny bullets on the path to financial freedom. Wealth building is the same today as it was 200 years ago, as coined by Benjamin Franklin, and can be summed up in a few simple principals:

1- Spend less that you earn.

2- Save money, consistently, over time.

3- Invest your savings and let it grow. Use the power of compound interest and time to multiply your savings. This works with tools like Roth IRAs, or physical investments such as real estate.

4- Create a budget and stick to it.

5- Think long term and not short term.

6- Realize that money and things do not buy happiness. Happiness comes from health, purpose and connection to others.

These 6 principals are so simple yet challenging to implement for many of us.

My Family Story

My father came to the United States in 1976 at the age of 35 as a Cuban political refugee. He didn't speak English; he had no assets, no network, no credentials. He brought with him two small children (me included!) and his wife, who was also a Cuban immigrant.

My father was a skilled laborer; an electrician, contractor, and plumber. Today he is a millionaire; he is financially independent. He works because he loves it, and is set for retirement. He lives on a beach, in a condominium that he owns outright. He enjoys a doorman and an in-ground pool. He has peace of mind . He educated three children in good schools. He has no debt.

At heart, my father is a minimalist. He is fulfilled sitting at the beach, watching a sunset, sipping a chilled glass of his favorite scotch. He loves the freedom, security, and ease that he’s created by watching his money grow and work for him. He freely helps people who need help. He has peace of mind.

Now that is a role model.

In addition to watching my father, I’ve read many books and taken seminars on financial management from a range of experts that include Bob Melvin, Barbara Stanney, Suzie Orman, Charles Schwab, Warren Buffet, Napoleon Hill, and Benjamin Franklin.

Check out my Part II for a money management system that I've used for years, and have helped clients implement. This money management system works for individuals or businesses alike.