Unlocking Financial Freedom: Empowering the Breadwinner's Journey

Let me share a story about someone I know who took on the role of the family's sole breadwinner. Their father had lost his job, and their mother had chosen early retirement. This person became responsible for supporting their entire family, including two siblings who were pursuing their college education. One of the saddest moments was when they broke down and said, "I wish I could find a job where I don't constantly worry about the salary and how to take care of everyone." It made me wonder why their parents weren't stepping in to help.

Being the breadwinner or the primary financial support for your family is no easy feat. It can be disheartening when you give your all, yet it feels like your efforts go unnoticed or are quickly forgotten. It's essential to remember that you have a life too. It's frustrating when it seems like money is overflowing, and you haven't truly earned it. If you can earn money, why can't they put in the same effort (if possible)?

However, if you find yourself in such a situation where being a source of support for your family is necessary, you have limited choices. It can be challenging to say no to your loved ones, but setting boundaries and allocating a specific monthly budget that covers their essential needs is crucial. They need to find a way to bridge the gap if it falls short. If you constantly provide for everything, how will they learn to be self-sufficient? If you're the one in need, who will help you? Therefore, it's important to establish your emotional and financial independence so you can focus on your own well-being.

Another crucial aspect is to avoid setting the precedent that your children will become your retirement fund or sole source of income. Please encourage them to save and invest. It can be challenging for breadwinners, but it's necessary.

I'm immensely grateful to my parents, who have their own money, allowing me to pursue my goals and build wealth. One of the most touching things my mother ever said was that her greatest joy would be to pass away, knowing that I won't have to worry about how to survive and whether I'll be able to stand on my own. Even today, my parents continue to buy me things or treat me to a meal, even though they know I have the means to do it myself.

According to the book "Outliers," one of the key factors contributing to wealth success is a strong support system, particularly within the family. So, let's cherish the support we receive, acknowledge its importance, and work towards nurturing our retirement funds with the knowledge that we have loved ones cheering us on.