You Have a Sovereignty That’s Personal and Financial

Financial and personal sovereignty is a vital goal in an increasingly interconnected and unpredictable world. And, if anyone knows this precept well — it’s Mark Moss.

Over the past 25 years, Mark has built seven different companies and invested in multiple markets, including a tech-based Fortune 500 exit, and through numerous boom and bust periods that have taught him some tough lessons and perspectives you can’t learn without experience. As well as fixing, flipping, and developing real estate, Mark has invested in gold mines, oil fields, and new tech — and a host of the Market Disruptors Podcast.

He’s also passionate about helping others avoid the same mistakes he made so they can live a life they can be proud of.

Having said that, this article is about financial and personal sovereignty, living the life you want, why the financial system is rigged, and why you should hold hard assets.

Understanding financial and personal sovereignty.

A person’s personal sovereignty and financial sovereignty are closely related concepts that explain how much control they have over their finances and lives.

• Financial sovereignty means you’re in charge of your own finances. In other words, you’re in charge of your income, expenses, and investments. Also, it means you’re able to make financial decisions that are in your best interests, even if other people don’t agree. “Financial Sovereignty to me is having the right to direct my life as I see fit, in a way that leads me to my own ends,” Mark adds.
• Personal sovereignty is all about living life on your own terms. You can pick your work, relationships, and lifestyle. Also, it means saying no to things you don’t want to do, even if it disappoints others.
  “It’s not the same as liberty,” adds Mark. “Liberty is freedom of coercion. I can direct my life as I see fit.”

The benefits of financial and personal sovereignty are endless. Being in control of your own finances can give you peace of mind. It can also give you more freedom, like where you live, how you work, and how you spend your time. As a person, it can give you a sense of power and control. Also, it can make your life more fulfilling and authentic.

In order to increase your financial and personal sovereignty, there are many things you can do, such as:

• Learning about personal finance. Getting a better understanding of how money works and making smart financial decisions that will help you.
• Creating a budget. Staying on top of your finances is easier when you track your income and expenses.
• Investing your money. This will help you to grow your wealth over time.
• Living below your means. You’ll save money and build your financial security this way.
• Taking care of your physical and mental health. With more energy and focus, you’ll be able to accomplish your goals.
• Setting boundaries. You’ll save time, energy, and money this way.
• Saying no. By doing this, you’ll avoid committing to stuff you don’t want.
• Living your life on your own terms. Your life will be happier and more fulfilling if you do this.

Having financial and personal sovereignty can make a huge difference in your life. It’s even possible to live a more fulfilling life if you increase your financial and personal sovereignty.

How does our sovereignty get compromised?

There are both internal and external sources that can undermine our personal and financial sovereignty. Changing markets, inflation, recessions, geopolitics, and legislation can all affect us. Those things aren’t in our control. Because of that, focusing on them is pointless.

Instead, we should focus our resources on things we can control. We’re much more likely to succeed if we have a high level of personal financial sovereignty. Think of it this way: You don’t have to get ready when you stay ready.

As for Mark, it was in 2008 after he got crushed by the real estate industry and lost everything. While it was tough, Mark took control. He educated himself about wealth transfer and put his marketing skills to work.

Eventually, this landed him a job driving mortgage leads. And this was when the lightbulb went off. He could make much money through lead generation while doing what he loved, like riding his dirtbike.

Making money while living the lifestyle you want.

Living the lifestyle you want while making money is possible. Here are some ideas:

• Start a business. I love this because you get to be your own boss and work on something you love. You can start a lot of different businesses, so you can pick one that fits your interests and lifestyle.
• Freelance. Writers, editors, graphic designers, and other professionals can freelance on many platforms. Working from anywhere and setting your own hours is awesome.
• Work remotely. Companies are now offering remote work options. You can still earn a good income while living a location-independent lifestyle.
• Travel and teach. You could teach English abroad if you’re passionate about travel. Seeing the world and earning money is a great combo.
• Become a digital nomad. Working remotely from anywhere is this lifestyle. Digital nomads can choose a path based on their interests and skills.

Through lead generation, Mark has been able to motocross, surf, and snowboard.

The question wasn’t, “How can I make money, and then what do I do with the time I have left over?” Instead, “No, how do I keep my lifestyle and make money to support that?” Mark explains.

Losing money is painful, but it can be an excellent teacher.

Even though losing money can be painful, it can also be a valuable lesson. If we lose money, we must examine our spending habits and adjust. Also, it can teach us how to manage risks and plan for the future.

In addition to learning about resilience, Mark also learned about adversity. Also, when you’re making money, you don’t really pay attention to where it’s heading because you’re making it pretty easy and fast, Mark adds.

You might not have done your due diligence. Most people who haven’t made these kinds of mistakes think it’s ridiculous, but keeping your money is more complicated than creating it, he says.

Aligning your values with your actions.

By living your life in accordance with your core beliefs, you align your values with your actions. Even when it’s hard, you must make choices that reflect your true beliefs.

The benefits of aligning your values with your actions are numerous, including:

• A greater sense of satisfaction in your life
• Having a stronger sense of purpose
• The development of more meaningful relationships
• An increase in self-esteem
• Choosing a life that is more ethical and compassionate

To align your values with your actions, follow these tips:

• Identify your core values. What matters most to you? What are your beliefs? Knowing your core values will help you determine whether your actions align with them.
• Set goals that align with your values. In your life, what would you like to accomplish? Only after you have set your goals can you make choices that will lead you to achieve them.
• Be mindful of your choices. Take a moment to consider whether a decision aligns with your values before making it. If it isn’t, ask yourself why.
• Take action. You don’t have to just talk about your values; you have to live them as well. Be courageous in your choices, even if they are hard.

In order for your values to be aligned with your actions, you must put in the time and effort. The more aligned your life is with your values, the more satisfaction and meaning you’ll experience.

To help you align your values with your actions, here are some additional tips:

• Find people with similar values to talk to.
• Learn about values by reading books and articles.
• Become a member of a values-based community.
• Take time to celebrate your accomplishments.

Mark says that you can’t set a goal when you don’t know your core values. His core value is freedom.

“Freedom, helping others, always learning, those are like three of my top core values,” Mark explains. “And so, then once I’ve established those, I can’t establish a goal or do anything that would violate those.”

Don’t hold cash – hold hard assets.

Finally, if you want a sovereign personal and financial life, Mark suggests holding onto hard assets, not cash.

Generally, hard assets make better investments than cash.

• Cash loses value over time due to inflation. Over time, cash loses its purchasing power. In other words, holding cash for a long time will devalue it in terms of its purchasing power.
• Hard assets, on the other hand, tend to appreciate in value over time. Due to their intrinsic value, they are tangible assets. Gold, for instance, will always have value, regardless of the dollar’s value.
• Hard assets can provide a hedge against inflation. Hard assets are likely to increase in value if inflation increases. As a result, inflation can be reduced, and your wealth can be protected.
• Hard assets can provide a source of income. A good example would be renting out real estate or investing in dividend-paying stocks. Even if you are not working, you can earn a steady income.

Hard assets, however, also carry some risks. Besides being harder to sell than cash, they can also be volatile. Hard assets, however, can offer potential rewards greater than risks.

Hard assets include the following:

• Real estate
• Gold
• Silver
• Art
• Collectibles, such as rare coins, stamps, and baseball cards.

Essentially, these are assets that are irreplaceable. The supply is limited.

Overall, hard assets may be a good choice if you are looking for an investment that can generate income and help you protect your wealth.

Featured Image Credit: Photo by Bayu jefri; Pexels; Thank you!