5 Reasons You Won’t Reach Financial Independence

Depressed man with his head in his hand. Disappointed he won't achieve Financial Independence

Do you believe it’s possible to achieve Financial Independence?

One of your goals might be to achieve financial independence and retire early.

No matter how big or small, it’s essential to have goals in life. Setting realistic goals helps you get what you want out of life. What are your goals right now?

There are lots of ways you can reach your goals. A quick search online reveals thousands of links all offering advice on how to reach your goals. What do a lot of these sites have in common?

The answer – they don’t usually tell you about their mistakes!

Amongst other things, to be financially independent requires hard work, patience, effort, and has a steep learning curve. Many sites offering help focus on what to do and what the rewards are. However, learning about mistakes learned along the way is also important!

After all, learning from our mistakes is one of the most human ways to learn!

I’ve put together this guide of reasons you won’t reach financial independence to help you understand some common problems people face. Knowing about them now means you can spot these problems developing early or avoid them altogether!

Do You Want Financial Independence?

Ask yourself honestly – Do you want financial independence? 

The obvious answer is yes. However, the first reason people fail to reach this goal is that they are not answering honestly. 

Some people may hear the term ‘financial independence’ and think that sounds awesome! These people don’t achieve their financial goals as they fail to follow up on their initial interest. Perhaps they got bored or wrongly assumed the high-paying job they’ve got now will last forever.

The first step on the path to financial independence is to want to do it. And mean it!

If you genuinely want to be financially free, then stop saying you do and act! Start learning all you can about different ways to achieve your goals. 

Stop making excuses – I don’t have time, I have too many commitments, I will start tomorrow. The list of excuses is endless!

Plan now on how you are going to become financially independent. By doing this you are avoiding the first reason people fail – lack of action!

4 More Reasons You Won’t Reach Financial Independence

Now that we’ve covered the main reason people don’t achieve their dream, here are 4 more pitfalls to avoid.

Not Knowing The Basics

Starting your journey to financial freedom requires spending some time learning basic concepts. Concepts such as budgeting, learning about different assets and investments, how to be tax-efficient, and the importance of having a diverse portfolio are some of the things you need to know about to have a solid start.

The good news is that all these topics can be self-taught using one of the many available resources online.

The bad news is that if you can’t understand these basic concepts, you will probably not be successful in your quest to become financially free.

Spend as much time as you must learning these basic ideas. Use all the resources at your disposal until you fully grasp what you need to do. Armed with knowledge and understanding of these concepts means you have a much higher chance of succeeding!

Cash Is NOT King

As a child having cash in your hand meant you felt like you were rich! Now that we’re adults with a better understanding of how far money goes you should know that cash is NOT king.

If you are keeping your savings in a standard bank account or even worse as cash under your mattress, then you are losing money! How so?

You lose money thanks to inflation. This is a concept you must understand if you are to be financially independent.

Every year the price of goods and the cost of living goes up – this is due to inflation. The effect of this is that $1000 today does not buy as much as $1000 in a year’s time.

If your money is sitting in a bank account not earning interest, then you’re losing money! The money can’t buy as much then as it could now.

To avoid this, you must put your savings into accounts with high-interest rates. Doing this means your money will grow and you aren’t losing out!

Fear Of Taking Risks

To make money that helps you become financially independent will mean taking some risks. If you are not prepared to take any risk, then you aren’t going to achieve your goals.

Investing is an essential part of the journey to financial freedom. Any investment you make will carry an element of risk. The key is to mitigate your risks by having a diverse portfolio. 

If one investment struggles, hopefully, the others keep growing to make up for it. Ups and downs are common when investing and any funds that struggle one year could easily be higher the next year.

Ultimately, you must decide what level of risk you want to take. However, if you don’t take any risk you won’t get anywhere!

Lack Of Patience

Today’s world is all about instant gratification. The problem with this is that financial independence takes time. You won’t get there overnight (unless you win the lottery maybe!). It can take years to build the platform to call yourself financially free.

There are a lot of factors that affect how long it may take you – the amount of debt you have, your income, and the time it takes to see a return from savings and investments.

All these things and more can affect how long it will take you to achieve your dream of financial independence.

You must be prepared for the long haul. Patience, consistency, willpower, and hard work are just some of the traits you need to cultivate. It’s fine if you are not like that right now – provided you are willing to do what it takes, then you can learn these things!

Next Steps

The road to financial independence can be a long one depending on your individual circumstances.

These reasons people struggle with achieving their goals are all easily avoidable. If you notice any of these reasons in your life, spend some time reflecting on this. Make any changes you feel will be beneficial and you will successfully complete your journey to financial freedom!

By Chris Panteli of lifeupswing.com.

Chris has a degree in Business Economics from the University of Liverpool and owns a small fast food business. His goal is to help you to make money, save money, and think about money in a way that will give you back your freedom.

David Baughier

My passion for helping others led to the curation Fiology. Help me spread the message of Financial Independence by clicking a colorful link above and sharing this post on your favorite social platform. Thank you!


  1. Ginzu on March 22, 2021 at 5:43 pm

    Cash is king, an ineffective one step in any direction king. Investments are then the Queen, multiple directions and moves. Break the assumption that being king, or in a kings position is the best. It is not…usually.

    • Jamison on April 17, 2021 at 1:12 pm

      Oooh. I like the chess analogy!

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