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February 24, 2020

6 Key Actions to Achieve Financial Freedom

6 Key Actions to Achieve Financial Freedom

There can be a sense of burden or dread when it comes to facing the unexpected – especially when it involves your wallet. For many, family emergencies, car repairs or natural disasters can wreak havoc on finances and affect your ability to feel secure today or ready for tomorrow. While these events will always be inconvenient, having enough savings, investments and cash on hand to afford your life can create a sense of freedom from the worry or stress of dealing with them. That’s establishing financial freedom.

Before you can jump into the “how”, you need to decide the “why”. Why is this freedom important to you? What are your biggest goals for the future? It has to be personal. Maybe you dream of starting your own business, buying a home or retiring comfortably. Perhaps it’s the ability to spend more time with the ones you love. If you achieve your goals, what would that mean for your life?

Establishing your “why” is critical, but just make sure it isn’t too focused or short-term. Saving enough cash to go on vacation might feel important today, but will the momentum of that success be enough to carry you to your financial freedom?

Financial freedom isn’t a winning lottery ticket. It’s a sense of security in your life decisions without the stress of financial impact, because you are prepared. You gain the freedom to live life on your own terms, creating more time to do what you love and becoming the success you were meant to be – without worrying about your bank account.

This process requires hard work and time; however, following these six key actions can help you take control of your finances, instead of being controlled by them:


  1. Create a financial plan that reflects your priorities and outlines the steps you need to take to achieve your goals.
  2. Develop a budget to help you visualize how your money is moving.
  3. Implement a debt payment strategy that helps you achieve your repayment goals.
  4. Invest in your future using tax-advantaged tools such as an employer-sponsored retirement plan or an Individual Retirement Account (IRA).
  5. Create a plan for the unexpected to protect your net worth.
  6. Establish an estate plan to take care of those important to you.


Even a clear blueprint doesn’t create the foundation. That’s something that you will need to build to lay the framework needed for success. It’s up to you to decide on your priorities, the timeframe and what you’re willing to do to achieve your goals, but be cautious about thinking too narrowly. Financial freedom isn’t just being able to cover the unexpected emergencies.


 If you have any questions or would like more information on Achieveing Financial Freedom please contact CBIZ Retirement Plan Services.

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CBIZ Retirement Plan Services is a trade name under which certain subsidiaries of CBIZ, Inc. (NYSE Listed: CBZ) market investment advisory, investment management, third party administration, actuarial and other retirement plan services. Investments, investment advisory and investment management services offered through CBIZ Financial Solutions, Inc., Member FINRA, SIPC and SEC Registered Investment Adviser, dba CBIZ Retirement Plan Advisory Services.  Investment advisory and investment management services may also be offered through CBIZ Investment Advisory Services, LLC, SEC Registered Investment Adviser. Third party administration, actuarial and other consulting services offered through CBIZ Benefits & Insurance Services, Inc.

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