Main Stream Thinking Will Not Lead to Financial Freedom

| Nov 29, 2006 | Comments 4

If main stream thinking would lead to financial freedom – wouldn’t there be many more financially free people?  Most of us are taught to go to school – get a good job and climb up the corporate ladder.  How many that have followed that path are financially free?  It is hard to tell, because there are many different definitions of financial freedom.  If I were to make a guess – I would guess that fewer than 5% of the people in the U.S are financially free. I would also guess that very few of those became financially free by climbing the corporate ladder. 

I submit that your chance of becoming financially free employing mainstream thinking is fairly slim.  If we can agree on that fact, then the converse must be true.  In other words, your chances are greatly improved by going against the grain or thinking differently than the masses.  Now, that doesn’t mean that you will become financially free, but your probability of success is increased. 

Since I realize this fact and believe it I am constantly seeking words of wisdom from the contrarians.  A contrarian is someone who takes the opposite position or attitude.  An investor who buys stock when most others are selling is a contrarian.  How else can you buy low and sell high?    Stocks are only at their lowest point when no one wants to buy.  The real estate market was red-hot in 2004, because everyone wanted to buy or trade up.  Contrarians sold and are renting now.

Some of my favorite contrarians are:

I read these people often are regularly.

Filed Under: Absolute Must Reads • Financial Freedom

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  • http://finandom.com/blog Harrison

    To achieve Financial Freedom, other than having a main stream Thinking, you also need an action plan to learn, to invest, to manage money and so much more.

    My Formula of Financial Freedom is Financial Freedom = Start a business + Invest your money + Mange your money Wisely

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  • http://www.ThoughtfulConsideration.com Andy

    I think you’re right – mainstream thinking will get you mainstream results: a late retirement that leaves you hoping that Social Security will cover your bills. That’s not where I want to end up, so I dedicate a lot of thought to crafting a plan.

    I haven’t finalized my plan yet, but I haven’t given up yet either!

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