Financial Independence is a Huge Trap 

This is not a financial advice and I never give financial advice: DONT LEAVE DURING THE BEAR. If you don’t want to invest…learn. If you don’t want to learn…build. If you don’t want to build observe. DO SOMETHING…other than leave. There is so much opportunity here. Take advantage!

Every American balances their checkbook and tries to make wise financial decisions. Sometimes there is not enough money for emergency situations so borrowing becomes necessary. Our government throws money away on stupid stuff like a kid in a candy store! We give money to foreign countries that hate us and laugh at us for our donations. No crisis is too big to throw US taxpayer money at. They need to tighten their belts just like the rest of us do!! My primary concern is how to grow my reserve which has been sitting duck since forever with zero to no gains, sure I know the risks of short term gains are much greater but if well managed one'd make a killing, am I wrong?

What anyone needs to do is spend their 20s and 30s getting to know themselves, figuring out want they want to do professionally or in business (even if it means changing course multiple times) and gaining experience, building a network, etc. At that point, if you are doing what is fulfilling and interesting to you, the money and subsequently financial independence will follow. Right now, I'm in my early 50s, living where and how I want to live, enjoying life and only working 3 days a week doing something that I love while being financially independent.

What if “who I am” and “what I want to do” is to just be completely mediocre at everything and not strive to make a living off of that. What if just the idea of monetizing myself and my information is soul sucking in itself? In that case, suffering to retire early sounds like a dream come true.

The trauma of not having food or money and dodging homelessness for extended periods of time does not usually allow people to think these thoughts until they get themselves in a better financial situation. Most people have to get on their feet first before this liberating content will be focused on. Otherwise I completely agree. Incredible content, thank you

Hello stephen Thank you for putting this out here. One thing I learnt is, ''life is a process''. Financial Independence can be a trap for those who rushes it especially in their early 20s to 30s. You must have it in mind that everyday you evolve and no reason to rush. I'm 45 and I started my path to reinventing myself a year ago, I’m now living healthier, confident, stronger, making 6 figures, having leisure to enjoy family &friends. I feel happier and living my life for myself . This is to encourage someone “you can start anytime to have a reset it’s worth it! I’m striving to continue growing cus it’s a journey 💗

''What feels like play to you, but looks like work to others?'' -Naval Ravikant

I definitely know what I WANT TO DO once I reach “financial independence”; I WANT TO be able to afford groceries, fix my car, and buy a decent house for myself and grandchildren, I want to hydrofoil, travel, teach my grandchildren to meditate and to learn to see in the dark. Those are the things I WANT. I am not young enough TO WANT anything else at this point.

Basic economics makes it clear that you can get a high income easily via unethical means. A high price for a good doesn't necessarily mean that you're delivering more value, it means you have more bargaining power. Healthcare used to be dirt cheap. But the value of life is infinite to the living. The price people will pay for treatments can go up and down based on how it's regulated and taxed, and whether or not competition is allowed in the industry. If you change the laws, you'll change the bargaining power of the producer vs consumer, even if they are exchanging the exact same goods.

What if what you want to do doesn’t make money? People always say to just monetize your hobby. But that comes with having an affinity for marketing, social media, etc. I’m an introvert and don’t want to be around people or even talk to them through a screen.

This is very misleading- financial independence is not having a job , even a high paying one. It’s having sources of income independent of whether you work or not. Clearly geared at young people, but doing a disservice

I'm 50 years old and stumbled into my career by chance and have made the most of it. I don't focus on wanting more money or wanting luxury things such as an expensive watch, fancy car, etc. I've had the money to buy the things that I've wanted and it didn't bring me happiness. Buying and accumulating stuff only brings a temporary high and leaves you wanting more. Financial freedom to me means being able to pay your bills on time, put some money towards retirement, and not be struggling on a daily basis just to meet your basic needs.

The one person online business model really is a revolution right now.

What I suggest you do when you're young is not to go straight to college. Take a break and work, save money and gain experience in the world. If you are already on a career track stick with it and do college if you think it's going to boost your career.

I was once in a relationship with a toxic abusive partner. After that relationship ended, I learned that it's not worth staying in a relationship that's toxic. As a result, I've remained single, alone, sexless for many years ecause I couldn't find a quality partner. But what I have not been all these years is homeless or starving. I have also been unemployed for long times in the past, which did result in homelessness and hunger. I can survive without sex or companionship, but I cannot survive with money to pay my rent and bills.

Loved the longer video! Thanks! 😊

🎯 Key Takeaways for quick navigation: 00:00 🤔 The speaker believes that Financial Independence is a trap, based on personal experience and conversations with others. 01:19 💡 A common theme in conversations is the challenge of balancing financial freedom, meaning, and fulfillment without "selling your soul." 02:24 ⏳ Many pursue financial independence to delay facing uncertainties about what they really want to do in life. 03:36 🚫 Traditional career paths often don't allow for multi-passionate individuals; financial independence is seen as an escape from this limitation. 04:57 ❓ Achieving financial independence doesn't necessarily provide clarity on one's life purpose or bring fulfillment. 06:03 🤷 If you truly knew what you wanted to do, you would be doing it now rather than waiting for financial freedom. 07:00 😢 One individual felt like a "lesser version" of themselves in their corporate job, leading to feelings of suffocation. 08:37 🌬️ Subjecting oneself to a negative environment now for the hope of future freedom is compared to voluntarily suffocating today to breathe tomorrow. 10:22 💔 The speaker compares staying in a soul-sucking job to being in a toxic relationship; both are endured because people feel they need something from it. 11:00 🤯 Argues that staying in bad situations-whether jobs or relationships-is a sign that you don't believe you're capable of receiving what you want in a healthier way. 11:27 🤔 The speaker argues that people often stay in soul-crushing jobs because they don't believe they can earn money in any other way. 12:44 💡 The speaker emphasizes that the solution to this mindset came from personal experience and a broad synthesis of knowledge. 13:51 📚 Introduces a book called "Private Government" by Elizabeth Anderson, which posits that large workplaces act like private governments with a hierarchical structure. 16:49 ⏳ Provides historical context, explaining how the workplace has evolved from decentralized self-employment to centralized business ownership, largely due to the Industrial Revolution. 19:36 🔄 Claims we are at the cusp of another major workplace shift, which the speaker calls the "Information Revolution," where self-employment rates are increasing and business ownership is decentralizing again. 21:00 🎓 Argues that the education system has had a monopoly on career-related information, which is now being disrupted. 23:03 🚫 Points out the shortcomings of traditional education, emphasizing that teachers are often not direct practitioners of what they're teaching, which impacts the quality of the information. 23:42 🤔 The quality of information you buy may not necessarily align with your personal life goals. 24:21 🌐 The internet has disrupted the monopoly in the information economy, making it easier to access varied information. 25:30 📲 Social media allows a more diverse set of people to broadcast valuable information, eliminating the need for a single entity monopoly. 26:40 💡 People are willing to pay for specialized, high-quality information from individuals who have solved specific problems they are facing. 28:17 🔄 The information revolution is a win-win situation for both information seekers and providers, disrupting traditional models of education and work. 29:25 🧩 The unique "recipe" of experiences and knowledge each person has is valuable in the information economy. 32:51 💰 Participating in the information economy not only provides value but also unlocks opportunities for a high income. 34:27 🛑 Limiting beliefs may hold you back from achieving a high income, which the speaker argues solves many problems. 35:07 🚧 Many people have limiting beliefs about what a "high income" is and may object to the idea that it is attainable for them. 35:47 🤔 Addressing objections about achieving financial independence, including mindset, ethics, and feasibility. 36:16 💡 "If you think you can or can't, you're right" - Emphasizes the importance of mindset in achieving goals. 36:58 ⚖️ Defends that earning a high income is ethical if it generates value for society. 38:44 🎨 Addresses concerns from artistic individuals, emphasizing that you don't have to 'sell your soul' if your goal is to serve others, not just to make money. 39:26 🎯 Clarifies that while not everyone can achieve this form of financial independence, a more accurate statement is that not everyone will choose to do so. 40:57 📱 Argues that broadcasting a unique set of information on social media can attract a specific audience, without the need to be a conventional influencer. 42:06 🌍 Explains the information revolution's power: you don't have to be a superstar to provide valuable, unique information. Made with HARPA AI

Did you know that there is someone else out in the world that did exactly what your “solution” is, and after their experience, they think the opposite. So who’s right? Everyone is different.

I’ve realized this EXACT thing and it’s why I started building my own channel. Subscribed, my dude!

If you don’t have 45 minutes to spare: “I think everybody should get rich and famous and do everything they ever dreamed of so they can see that it's not the answer.” -Jim Carey

Thank you for this information. This was a gem! 💎

great video man.. love the unique content and authentic rambling

this is one of the longest YT video I watched over the past few years. Good content. Keep it up.

You are the goal! Very well explained. Thank you for bringing this clarity in this noisy world.

Love it 🙏🏽 what a good explanation !

An incredible video, thank you for creating it!! I needed to hear this :)

absolutely awesome video, thank you for that Stephen, I needed to hear that

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future… I pray that anyone who is reading this will be successful in his or her life!!!

I think this misses the idea of one wanting to be free of coercion. All economic interactions prior to FI are coerced, and are thus unfree. So long as you need to work under the auspices of starving to death, you aren't making truly voluntary choices. I wished to be free of that, so I achieved FI. Also, very few dream of unclogging toilets or gathering trash, etc. A vast number of needed jobs would go unfilled.

This is amazing

Wow, this was great, thank-you.

LOL at you calmly flaming me and validating me at the same time 💛

This is a non argument. As a very small content creator I know that vidoes like these are thought provoking and this cog turning title will envoke curiosity which leads to clicks which then leads to likes comments and the starving algorithm is fed. I know how this works BUUUT what you are actually saying does not compute with 99 percent of the world because financial freedom will give anyone and everyone who has it the TIME to find out who they really are and what they would like to do with their lives. Key word is TIME. The most precious commodity we have. So if a person actually finds their calling or not is niether here nor there but they will have the means to do so with no fear if being on the street. Money is like water, it isnt everything, but you damn sure need it to live.

Precious! The crazy world as of now runs on the principle of keeping us distracted enough so I never have time to figure out what I am/we are... discovering ourselves as you say!

Just learn how not to spend on the things you don't need to impress people you don't like.

Do you use a teleprompter or have notes? This was a great vid

This especially relevant as inflation has continued to rise throughout the years without also improving work wages. The world is a different place than it was 20 30 years ago.

Really enjoyed this longer style video! You hit on so many things we have been thinking about with our channel. We just went through a big rebrand to create videos that more reflect our individual experience, in hopes that we can connect with people that think similarly. Its been difficult, but incredibly rewarding to get to express ourselves more genuinely and creatively. Also we were super inspired by your last two videos! So cinematically beautiful and thought provoking. Thank you for being you and encouraging others to do the same ❤️

A rare, paradigm smashing video. Thank you.

I am all for democratising (higher) education. But, I also do appreciate the value of a five year degree in specific fields such as physics (my own expertise). I would argue that there are too many university degrees that are "too broad" to belong in Universities. To summarise: I wouldn't want my doctor to have gathered all her knowledge from online courses. But I wouldn't want a functional analyst to have wasted five years in university.

you explain it so well, thank you so much 😊🥰🥰

great video Stephen 🤝

I needed this exactly at this moment!

This is a pretty inncentive video for me, and I would even dare to say to us as audience. Not everyone dares to dig the layers about their own socio economic aspects as a public person or private entity. This is more than a decent and honest job even when you don't want to be perceived as a youtuber. I personally think that says a lot. Thanks again for the effort put into this. I hope to find more content of this kind.

I think this is a great argument, but the "you are harming yourself" compares love, sex, and intimacy on the same scale as a job. Which yes, some people can go without jobs for longer, but for many people that is not even an option. We're talking people with kids, people with no support system, people with assets that could instantly go under after the loss of a job. (but im not done with this video) sounds like my political philosophy is popping up.

Thank you 😊

Not having your life in the whims of a boss is a trap? Give me mire traps like this.😅😂

Great video!

Can’t we just prioritize so that we can get all three? Focus on earn income, minimize expense for things that you do not value, spend on what you value and find ways to earn more income or invest for passive income to circulate it back to what you enjoy.. that’s spiritual independence and financial independence.

Genius concept. Tx.

I like your recipe for explaining things! Pleasantly neutral and articulate!

Bro I am hungry I can find myself after I eat

I used to think every investor went broke during recessions, meanwhile some make millions. I also thought everybody went out of business during the Great Depression, but some went into business. Bottom line, there's always depression for some, and profit for others, it all starts from having the right mindset. That said, I've set asides $250k to invest for future, unfortunately l'm a complete noob.

Such an interesting thesis. I buy it!

thank you ❤

I think a better TL;DR is to constantly try to apply to other jobs or try side hustles that you actually enjoy

This won’t work for everyone. There are only so many things people want information on. There’s more people doing the same things you’re doing that know more then you do. Combine that with a hate for marketing, and kiss any chance of selling your information out the window.

Very valuable, thank you

Thank goodness most of won't have to worry about that. 😂

The term 'information economy' is brilliant. Please don't find a different word for it. It helps it make sense. Great video, start to finish. Thank you for this information. I don't have money to donate, but I can comment 😊

Very insightful 👏🏻👏🏻👏🏻

"Life is what happens when you're busy making other plans."

Im 22 and been facing a bit of an issue on my self. I am in the Army (NG) and i work in my civilian life and now after being outta school for 3 years ive decided to go back. I worked alot and i really thought id be in the Army for the full 20, but unfortunately i dont have the drive anymore. I bought a house, i have an old Ford thats paid off and I try to keep a budget. The past 2 years alot happened and all the savings i had 30k+ are gone my multiple sources of income are gone and im struggling to work at one job longer than 6 months. Ive sought therapy and I spoken to others for financial advice and i feel like im not the person i used to be. My ambition feels stunted and i dont just know what i want to do anymore. I get told im doing very well, but i dont feel like i really am.

This video is just PURE GOLD. I think lot's of people need to hear this.

Very helpful video to clear my mind, focus and come back on track. I was a little confused about the idea of starting my own online business, but as long as the goal is to serve others with something valuable the whole thing becomes so much more meaningful. Thanks for reminding me of that.

Great video, I watched it multiple times. I knew about the various points you made with before and during industry and post shift, your presentation brought together in a easy to understand method that is accessible.

This was SOOO beautiful and I cried when you reached at the same conclusion that I did. It's past the time we focus on exploring our uniqueness, AI is here already taking artist's jobs. Why? Because people prefer to automate their uniqueness and stay at places where they are replaceable. And it's the wrong way, it's the opposite of what we should do. All of the physical and now virtual automation should be at our service so we finally have the freedom and time to do what matters: be ourselves, most authentically.

Steve, you’re a hero. I’m so grateful I had the opportunity to talk with you 1-on-1. Our dialogue lifted my spirits for the rest of the week; especially the takeaway on not feeling guilty for spending time for myself learning and discovering new ways I may contribute to the world around me, is invaluable to me. Thank you for being who you are and sharing your experience with others. This past version of yourself, that we have in common, is grateful for your storytelling and wisdom. Keep on keeping on. Your Friend, Theresa.

thanks for your thought, I do agree with you! everyone is unique,, the life we've been through that made this uniqueness and that's why we can't compare ourselve with others that maybe has different start line

Actually quite interesting. Any ressources you'd point to in term of "how to start" For exemple on the how to record youtube video (not how to film and light) but to "script" / build the outline of the video?

I feel so down for a while now but this video is surprisingly calming and comforting. I love the simplicity of your video and your voice. thank you 🙏

I'm going to have to break the cycle of adoration in this comment section by highlighting I don't agree with in this video. Actually there is a lot I disagree with but in the interest of time lets tackle just this for now: *"A high income solves almost all problems you can experience in life"* Not entirely wrong, but just not quite on the mark either. A high income can solve *some* problems, but more often it tends to just exchange problems for new ones and we end up not much happier than we were before.

I like this well-thought-out long-form content. It's refreshing, as many like to attract people's attention with hype. Kudos to you Stephen.

you have never been truly broke,it aint easy out there

Meaning is freedom and freedom is meaning, my friends. I pursued my dreams in studies and creative arts until, everyone told me I would be always broke. Later I have become good enough to make them pay for my bills. Most important, I feel fulfilled and I earned respect from peers, which is nice and it pays for nice trips and incredible experiences around the globe. I am about to attain a certain degree of financial independence, house is paid, etc. I am not rich, but I owe nothing. It never occurred to me that money alone can possibly give you freedom. Freedom is something different. But "financial freedom" is nevertheless great and desirable granted that you are already free. The alternative is called the golden cage. Avoid it at all costs, it is better to be. free beggar. Best wishes and success to you all!

bro next video about video editing! equipment you use, advices etc!!

This video was so on the money for me. Thank you so much for this. You don’t know how much I needed this. Very inspiring and eye opening. The long form stuff is exactly what I like to watch. Not just that but everything you said was exactly what I needed to hear right now on my journey. Also when you said I don’t believe in myself enough I didn’t object at all. I know that is the case and hearing it again was made it resonate with me properly.

To sum up what he is saying, find your super power, and exploit it. If you don't have one, get out there and start learning. It took me at least 10 jobs before I found my super skill, and now I earn more money than I ever needed. Then I use that money to learn more skills, rinse and repeat. On the side I do my hobbies, camping, 4x4 off roading, weight training which keeps me going, healthy body, healthy mind. I have also developed many new skills which I can monetize, and this now gives me flexibility and power should I choose to use them. Good luck

You said it perfectly, great video 👌 no bs, straight to the point. It's so easy and accessible to make content and share your perspective with others - so much value to be created and so many connections to be made

Fire content always, to the point and eye-opening. Eyes on the true prize that WE are the goal!

People don't pay universities for the information. They pay for the credentials.

Interesting video, and I believe you're onto something there, but the idea of a information being valuable only because is configured in your unique way is misleading. First you need it to be correct and useful (which means you'll need to build knowledge through a lot of experience) and then build your online presence to trade it.. those are huge!!

TLDW: An alternative to saving and achieving FIRE is making a large income doing something satisfying/rewarding, and one way to do that is sell information online (e.g. niche online teaching).

The soul sucking comment was spot on! I feel like an autopilot zombie!

This was extremely valuable. Any books or other media you would recommend to dive deeper into this topic? Love your stuff!

Financially independence is most practically achieved by being a beneficiary on your grandparents, parents and all aunts & uncles life insurance policies and waiting for them to die, OR by being the victim of a tragic accident in which a large corporate entity is at fault.

Thank you so much for this highly valuable video, for sharing your obtained insights and lessons. I am stil doubting to start my own health business from own experience and when I want to start reasons come up, like I am not far enough progressed in my own health, I am not perfect yet, I don't know enough.... But.... this video shined a bright light on all the gold I do have, the many problems I solved already, how insanely difficult it was at times and the unique insights, practical and theoretical knowledge I have gained, my experience as a teacher and my new video and ai skills from my work. This is a valuable coaching lesson you are giving us here. So I can't thank you enough. I like your calm voice and pleasant slow speed of talking in this video without any distractions. It also dissipated my anxiety from "I have to make money now with ai and do only topics that people are proven to interested in, not what I like". So down to earth and the dots so well articulated and PUT TOGETHER. Thank you 🙏💖.

This saves my ass made me cry Youre right!

I watched this video earlier and came back JUST to comment that I absolutely loved the video. The content, the way you structured it, the way you exposed it. I just bumped into the channel and I'm really thankful. This said by someone which watches a LOT of YT

Just want to say thank you for making this video and sharing your thoughts and experiences. This was easy to digest and is definitely something I'll want to come back to and listen to again!

What you've missed is that people don't go to college in order to gain information. Even before the Internet, information and knowledge was available much more cheaply for books. College degrees are valuable because they perform a signalling function - i.e. they tell employers something about the graduate. A degree can signal that (1) the person has a certain level of intelligent, (2) they are willing to stick to something for 3+ years to completion, (3) they have a basic level of discipline, ability to meet deadlines, etc, (4) possibly the amount of cultural capital or socioeconomic status they have (especially if the college is good one).

In this video i hear you saying that not financial freedom is the problem. But projecting your happines in the future is the problem.

I have an honest question for the author of the video and everyone who agrees with him: how are you supposed to survive while in this process of "discovering yourself"? I'll be honest, I don't quite understand what the author means by that process and how long it is supposed to take in his opinion, but even if we'll say it doesn't take that much time - say a few hours of deep thought, or maybe up to a couple of days, once you arrive at that "discovery" and you know WHAT you want to do - you still need time to acquire the means and the skills to do it. I don't necessarily mean formal education - it can be online courses, or private training or whatever else. Any craft takes time to master. And a lot of time - months, years, sometimes a decade or more. So, who's paying your rent during that time? How do you pay for groceries? How do you afford even a minimal level of wellbeing?

It is better to live well with unsecured debt than get everything taken away from you by crappy local area & federal govt.

I have never felt more personally attacked in my life 😂

Are you confusing the word financial independence with financial freedom? Because they're completely different. Financial Independence is achieved through passive income. Not earned income. Whereas financial freedom can be achieved through earned income which most of the time means you're self-employed and making your own schedule. Thus freedom.

Beautiful message and so on point 💕🙏 Living life In purpose. Authenticity is our power.

Thanks for the chat and I enjoyed this video! The part about making over $100K hit home. I do think that I feel comfortable making small sums and uncomfortable making larger sums. Although it is kinda like walking in a dark cave in that as I make more I feel comfortable making more. Your historical lessons reminded me of some Seth Godin talks (google seth godin industrial revolution) and were interesting. I created my calculator and look forward to building my little personal business, and what video you'll create next. Thanks again!

Nice delivery and some unique takes. Serving others seems like a good plan. Goal v byproducts. Good stuff.

Started off watching this being like "what the fuck is this person talking about?" to "holy shit, that's such an interesting perspective"... thinking about my customers buying/viewing my content as people potentially with a problem to solve that only I and a few others with a similar vibe/appearance/ability as me can solve is such an empowering way to see it... thank you sir 🙏