How to Become Financially Free: The 4-Step Framework

Sick and tired of living paycheck to paycheck? Dreaming of a life where you're not constantly stressed about money? I get it. I've been there.

The good news is, financial freedom isn't just about having a fat bank account. It's about designing a life that aligns with your values, your passions, and your dreams. It's about living a Rich and Meaningful Life.

And here's the kicker. You don't need a six-figure salary or a massive inheritance to make it happen. I'm living proof of that. I used this exact framework to go from $0 to becoming a multi-millionaire shortly after turning 30, and I'm here to show you how you can do it too (regardless of your age or income level).

Step 1: Define Your Rich and Meaningful Life Vision

I don’t believe in generic financial advice or cookie-cutter budgets. Each of us are different. We have different priorities in life, we value different things, which means the definition of a Rich and Meaningful Life is going to look different for you and I.

This is why step one of financial freedom is all about getting crystal clear on what your Rich and Meaningful Life looks like. Because at the end of the day, how exactly do you expect to achieve financial freedom if you don’t even know what it looks like?

I even made a free mini-course that will take you through step one and two and includes a bunch of fun activities — I highly recommend taking it.

Ask yourself…

• What gets you excited? What activities, hobbies, or experiences bring you joy?
• What do you value? What matters most to you in life? Family, adventure, creativity, giving back?
• What are your dreams? What do you secretly (or not so secretly) want for your life?

Once you have a clear vision of your Rich and Meaningful Life, it's time to create a Meaningful Spending Plan.

This is where 99% of people stop.

Once you have clarity on your Rich and Meaningful Life Vision we need to understand what that life costs. Whether your Rich and Meaningful Life costs $50k per year or $500k per year, we need to know, so that we can create the right plan!

A Meaningful Spending Plan isn't your average budget. It's a roadmap to funding your Rich and Meaningful Life. It means being intentional about where your money goes and ensuring it aligns with your values and goals.

Step 2: Start Living Your Rich and Meaningful Life... Today

I know what you're thinking: "But Corey, I can't afford this life yet!" That's okay. Step two isn't about living your dream life 100%. It's about starting to incorporate elements of it into your life today.

Even if it's just 10% or 20% of what you envision, start adding those meaningful experiences, hobbies, or purchases to your life.

This does two things:

1. It boosts your motivation: When you start experiencing the joy of your Rich and Meaningful Life, it fuels your drive to achieve it fully.
2. It helps you refine your vision: You might discover that some things you thought were important aren't actually that fulfilling, while others bring you more joy than you expected.

Take for example the time my wife and I quit our jobs at Shopify to travel the world creating content for luxury resorts. At the time, the idea of traveling the world and creating content was part of our Rich and Meaningful Life. Fast forward several months and we said “nope… this isn’t for us”.

We went back to the drawing board and refined our vision further after discovering this wasn’t actually important or fulfilling to us.

This of course is an extreme example, but if we wouldn’t have tried it, we’d likely still be living our lives thinking that’s what we actually wanted.

Step 3: Achieve 100% of Your Rich and Meaningful Life

This is where things get exciting. Step three is all about closing the gap between your income and the cost of your Rich and Meaningful Life.

This might involve:

• Increasing your income: Through career advancement, starting a side hustle, or becoming an entrepreneur (more on that later).
• Optimizing your spending: Cutting back on expenses that don't align with your values and investing in things that do (your meaningful expenses).
• Creating a financial plan: Developing a clear roadmap to reach your goals, including saving, investing, and paying off debt.

Once your income equals or exceeds the cost of your Rich and Meaningful Life, congratulations! You've completed step 3 and reached a major milestone towards financial freedom.

Step 4: Financial Freedom on Autopilot

This is the ultimate goal: living your Rich and Meaningful Life without needing to work — this is true financial freedom. This doesn't mean you won't work, but you have the freedom to choose whether or not you do.

Most people achieve this through:

• Investment income: Building a portfolio that generates enough passive income to cover your expenses.
• Business income: Creating a business that runs on autopilot and provides consistent cash flow.

The key is to create a sustainable source of income that allows you to live your Rich and Meaningful Life without being tied to a job.

Once you’ve taken my free mini-course on designing your Rich and Meaningful Life, if you’re interested in learning and implementing my step-by-step systems and strategies for going all the way to step 4, check out my program Money Blueprint.

Remember, financial freedom isn't an overnight achievement. It's a journey, and it starts with taking the first step. And trust me, it’s achievable. I have yet to talk with a person where this wasn’t possible.

Till next time!

— Corey