TE&MN #40 10 hard truths from 2 years of financial independence (they don’t tell you this)

10 Powerful Lessons From 2 Years of Financial Independence

On August 26, 2022, I took a calculated leap into the unknown, transitioning from a career in tech to full-time investing and entrepreneurship.

I wasn’t sure what to expect, but I knew I wanted to own my time and build a life on my terms. Fast forward two years, and I’ve learned what it takes to thrive outside the traditional career framework.

Today, I want to share 10 key lessons I've learned from being financially independent for two years.

These insights could be just what you need to move forward on your journey toward financial independence.

Lesson 1: Having a Purpose Is Essential

Many mid-career professionals face uncertainty when considering a transition to financial independence. 

The key to overcoming this is action.

When I left my tech career, I realized that my purpose was more critical than ever. Viktor Frankl’s words resonated with me: "Life is never made unbearable by circumstances, but only by lack of meaning and purpose."

My purpose became clear: walk beside my sons as they grow into men and help tech employees make informed equity and financial decisions.

This purpose keeps me focused and moving forward every day.

Taking the leap into financial independence requires deeply understanding your "why." It’s what gets you out of bed every morning, ready to tackle whatever comes your way.

I recommend this book on Life Planning as a way to get started (LINK)

Lesson 2: A Roadmap is Non-Negotiable

It’s easy to think you can wing it once you’re financially independent, but that’s a misconception.

When I started, I quickly learned that life and financial plans are essential. Without them, it’s too easy to lose your way.

My plans are my roadmaps, guiding how I invest my time and money. Regularly updating these plans ensures I stay on course and prioritize what truly matters.

Remember, financial independence doesn’t mean you stop planning; it means your plans become even more crucial.

Go Deeper into creating a plan for your Income Assets (LINK)

Lesson 3: Transitioning From Money Maker to Money Manager

Many believe that financial independence is all about earning and accumulating wealth. That’s only half the story.

As I transitioned out of my tech career, I discovered that being financially independent isn’t just about making money—it’s about managing it effectively.

My career had trained me to make money, but now I needed to learn how to make my money work for me. This shift required new skills and a conscious effort to avoid slipping back into old habits.

Understanding this transition is key to maintaining your financial independence.

Don’t just make money—learn to make it work as hard as you.

Here is my process to transition from Money Maker to Money Manager (LINK)

Lesson 4: Self-Discipline is a Non-Negotiable

Some people think that once they achieve financial independence, life will be a breeze. That’s a mistake.

During a nine-month sabbatical in 2019, I learned that without the structure of a job, it’s easy to lose focus. As I left full-time work, I knew discipline would be crucial to avoid falling into a state of complacency.

That’s why I built my portfolio as a business, complete with regular reviews and routines that keep me on track.

Self-discipline isn’t optional; it’s the foundation that supports your new lifestyle.

Steven Bartlett does an excellent job of articulating how to build discipline in this video. (LINK)

Lesson 5: Make Personal Growth a Priority

A common misconception is that financial independence means you’ve "made it" and can now relax. 

This mindset can be dangerous!

Without focusing on personal growth, it’s easy to start "cruising" downhill. I’ve seen it happen to others and felt the pull myself.

To counteract this, I prioritize my health and invest time developing my strengths, like writing and speaking—activities that bring me joy and fulfillment.

Financial independence should be a platform for continuous personal growth, not an excuse to stagnate.

Lesson 6: Explore Hobbies for Fun and New Perspectives

People often think they’ll automatically find time for hobbies once they become financially independent, but that’s not always the case.

I was so focused on building success in my career that I neglected hobbies. Now, I’ve found joy in baking, traveling, and playing piano—activities I never made time for before.

Hobbies aren’t just about fun; they offer new ways of thinking and add richness to life.

Don’t wait until you’re burnt out to explore hobbies—make them part of your life early on.

I love the pursuit of Co-Living and Co-Working as a hobby check out the details at the bottom of this newsletter (LINK)

Lesson 7: Run Your Portfolio Like a Business

Many believe financial independence is about passive income, but that’s misleading.

I’ve learned to run my portfolio as a separate business entity to achieve sustainable success.

This approach has allowed me to systematically build and grow my investments, creating a financial fortress that provides for my family under any circumstances.

Running your portfolio as a business is the key to long-term financial security.

Here is my Portfolio OS a frame work to build your portfolio as a business check it out (LINK)

Lesson 8: Find a Community of Like-Minded People

One of the biggest challenges of financial independence is isolation, mainly if you’re used to a structured work environment.

Without a routine, it’s easy to become disconnected.

That’s why finding a community of like-minded people has been vital for my accountability and growth. This network supports and keeps me motivated, even when the journey gets tough.

Surround yourself with a community that understands your goals and can help you stay the course.

Lesson 9: Financial Independence is Not a "Passive Life"

The allure of "passive income" is strong, but don’t be fooled—it takes work.

In my experience, financial independence requires focus, attention, and discipline. While I may not spend as much time managing my finances as I did working in tech, I still need to stay engaged.

The idea that you can set it and forget it is a myth.

Understand that financial independence is an active process—it requires ongoing effort to maintain.

Lesson 10: Enjoy the Journey

It’s easy to view financial independence as a final destination, but that’s a mistake.

Over the past two years, I’ve learned that financial independence is just another path through life. It’s important to reflect on your progress and enjoy where you are.

I continue to build a life I don’t need a vacation from, supported by a generational portfolio that funds this journey.

Financial independence is a journey, not a finish line.

Embrace every step of it.

Tech Equity & Money Talk is a Weekly Podcast that explores the process of building wealth through Tech Equity and managing the money that comes with it.

If you like the podcast, support us by leaving a review; please do that now! (LINK)

069: 🎙️ Time Freedom Tips for a Balanced and Intentional Life with Christopher Nelson

Understanding the Five Freedoms: Financial freedom is just one piece of the puzzle.

The five freedoms - time freedom, financial freedom, geographic freedom, freedom of relationships, and freedom of mission - work together to create a holistic approach to lifestyle design.

By focusing on all five freedoms, you can unlock a life that aligns with your passions and values.

Learn more from this episode 👇️ 

How do you leverage equity in tech as a strategy for wealth-building, accelerating financial freedom, and getting the life you desire?

If you're not asking this question already, it's time to start.

Working in tech, you're at the forefront of innovation, shaping the future daily. 

When you trade your time and talent for equity in tech roles you can make more than the previous generations, often surpassing  our own expectations and enabling a lifestyle once unimaginable.

Yet, this comes at a significant cost:

• Endless work hours blending into personal life

• Sacrificed time with family and friends

• Declining physical health

• Imminent burnout

Many tech professionals believe there is a way to transform their earnings into a life of true autonomy—a life where you own your time.

 How do you transition from the relentless corporate grind to the freedom of controlling your schedule?

The way that worked for me is what I call from Equity to Exit and what I continue to educate here and on my podcast.

Here are two resources to get you started.

My From Equity to Exit Overview - A high-level overview of the process that got me to financial independence!

Below is a video from Youtube that shares the same thing.

I hope this helps someone today.

When you are ready, there are 3 Ways I can Help You:

1.) Start up-leveling your knowledge - 🎧️ Follow our Podcast

2.) Get our detailed How To Videos- 📺️ Subscribe to our Channel

2.) Accelerate your actions, work with me 🧠 Book a 1:1 coaching session

Disclaimer: This newsletter is for informational purposes only and does not constitute financial or career advice. Always consult with qualified professionals before making any decisions based on the information provided.