Maslow’s hierarchy of needs is a theory by Abraham Maslow that describes the pattern of human motivation. The most fundamental need is at the bottom of the pyramid and self-actualization is at the top of the pyramid.
In my journey in search of financial freedom and towards a sweet retirement, I believe the theory is very important. I will do a check on each level in the pyramid to see where I have reached in my journey.
1) Physiological Needs
This level describes the physical requirements for human survival like clothing, food and shelter. I have fulfilled this level as financially I have no problem buying and paying for clothes and food. I also have my own house although I am still paying mortgage for my house.
2) Safety Needs
Safety needs can range from financial security, job security or health and well being. I am financially stable with a full time job although nowadays no job is secure for life. I have no health issues although I am trying very hard to be fitter and better by jogging at least twice a week.
The third level of human needs is interpersonal and involves feelings of belongingness. Friends, intimacy and family contributes to this need. I have a happy family with two kids. However, I am lacking friends. After getting married, I have not been catching up with friends for maybe a year. I need to catch up on this. Perhaps meeting up some of my old friends regularly for dinner will help?
This level describes the need for human to be respected which includes self esteem and self respect. There is a “higher” and “lower” esteem needs. Higher esteem is the need for respect from others which is often related to status, recognition, fame and attention. Lower esteem relates to self respect through strength, competence, mastery and self confidence. I think I am the more of the lower esteem person as I do not need the recognition and attention from others.
5) Self Actualization
The level refers to what a person’s full potential is. Personally, I feel that I have not found self actualization. I am still in search of self actualization.
What is the ideal job I will like to have? What is the ideal life I will like to lead?