Consistency is the key
Last week I attended Canadian Blood Services‘ Honouring Our Lifeblood. The event recognized regular donors from local communities. As a regular blood donor that hit 50th donation late last year, I felt honored to attend this event. When I first started donating about 10 years ago, I met a fellow donor in his late 60’s that was donating for the 100th time. I was in awe of this achievement and told myself this would be a goal I would achieve one day.
At the event, I was astonished to see people’s dedication to help strangers in need. There were lots of donors that have donated 50, 75, and 100 times. Sitting at my table I noticed a lady with a name tag stated that she had donated 150 times.
I started donating on a double dare when I started university. I never stopped since.
Consider one can donate 6 times a year, 150 donations would take rough 25 years. This is if you were to donate every time you were eligible. The lady at my table had made a life commitment.
Later that evening I learned there were a few people that have donated 200 times. What was more impressive was learning one gentlemen that donated 400 times and another had donated 300 times! To hit this many donations, many of them donated both whole blood and platelet. (You can donate every 14 days with platelet, every 56 days with whole blood).
To hit 200+ donations, regardless the type of donations you do, required dedication. As the master of ceremony put it…
You have made blood donation a part of your life.
Is donating blood simple? Sure, you just need to show up, make sure you are healthy, have a nurse poke a needle in one of your arms, and wait.
Is hitting the 50th/100th/75th/100th/200th/300th/400th/etc milestone simple? Sure, you need to make a commitment to donate regularly whenever you are eligible.
Simple does not mean it’s easy.
Regular donations require you to take care of your body, making sure you are healthy. Hitting the various donation milestones require dedication and commitment. It is too easy to say I quit after a few blood donation appointments.
What does blood donation has anything to do with financial independence?
Because becoming financially independent is simple but it sure ain’t easy.
5 Simple steps to become financially independent
1. Live below your means
You need to spend less than what your earn. If you are currently saving 10% of your income, aim to save a higher percentage. Can you save 50% of your income? Can you save 70% of your income?
The less you spend, the faster you can reach financial independence. The math is pretty straight forward.
2. Eliminate any debts
Eliminate any consumer debts you have. Be responsible with your credit card usage. Get rid of your mortgage as quickly as possible. Stop differentiating bad debts and good debts. Start seeing all debts as bad debts and wipe them out ASAP.
3. Invest your money for the long-term
Pick an investment strategy that works for you. Invest with the mindset that you are not selling for the next 30+ years. Stick with your investment rather than jumping in and out and try to time the market. Search for depreciated investment potentials for the greatest returns.
4. Grow your net worth
Grow your net worth so it can generate enough passive income to cover your expenses. When you reach this point, you are financially independent.
Becoming financially independent is simple but it is not easy to get there. It takes time and commitment, exactly like reaching a major blood donation milestone. Make becoming financially independent a regular part of your life and practice being financially independent. Only then will you succeed