What is financial freedom? There are many definitions of financial freedom or financial independence. The one that I embrace says that you are financially independent when your monthly passive income is over and above your total monthly expenses.
Hmmm, where does that leave us? Do we have passive income?
Sounds like a tall order and it seems so distant and far...
Well, if you are ready to suspend your judgment, if you are willing to challenge your limiting beliefs and embrace abundance, read on.
The first step to reaching any goals, dreams or desire is the openness to explore and the willingness to suspend judgment and cynicism. Only then will you be open to consider the different options you have for reaching your ultimate dream. You do not want to limit yourselves at the outset. However, do keep your sharp and analytical mind as you evaluate the information presented to you.
Before we become millionaires overnight, a few things need to take place. Before we experience abundance of any sort, there needs to be awareness, learning and implementation, monitoring, realignment and practice, practice, and more practice. This is the sure and steady way to success.
The first thing you need to do is to be aware of why you want that financial freedom. And why that is important to you.
Then you need to get some education and training on your financial literacy.
It is no good depending on some other people's advice - even if he is your accountant or good friend. Ultimately, you want to be responsible for your own decisions.
How do you get the financial training?
1 - You can read books, and there are lots of great books around and you just need to visit the bookstore. However, this will only give you a basic understanding as you are not able to clarify your interpretation of what is written. And books do get outdated too.
2 - Join in the conversation in groups and forums. Ask your questions, articulate your queries and listen to different responses given. This process will get you into clarifying your thoughts and queries.
You get to ask practical and implementation questions here. But whether or not you get the answer is another question. Also you will want to keep a clear mind and not believe everything you hear. Double check it with second opinions or literature.
3 - Join in previews to workshops or the actual custom made workshops and learn from the experts. Those who have made it, been there done that and are willing to share their strategies with you.
In this information age, a lot of information within your reach. It is advisable to get your training from a trusted and reliable source, and learn those who have a proven system and a set of process that work.
The other thing about workshop is that you will have the opportunity to get your hands dirty. Attending a 2 or 3-day workshop will not make you an expert, but at least you will be learning from the gurus.
So whether you can achieve abundance or not is determined by your success mindset. You can take charge, do something about your dreams or you can lament and hope for the economy to change (or for an inheritance or a fluke of luck).
Nothing happens until you want it badly enough that you take action. "Life happens at the level of events, not of words". Alfred Adler. Small deeds done are better than great deeds planned.
If you want to take your current state to the next level, to live in freedom and abundance, then go out and explore, read up, join some workshops and get your hands dirty.
And if you are looking for some free and online preview calls that will give you some head start in the kinds of investment strategies that you can consider, sign up here. This is a live call which will be recorded. When you leave your name here, you will be given access to the discussion on strategies and tips that you can use from an expert with proven track recprd.
Louisa Chan is a Certified Professional Coach who will work with you to co-create your success by empowering you.
If you like to have similar articles delivered to your inbox just leave your details here.
Article Source: http://EzineArticles.com/?expert=Louisa_Chan
Thursday, April 22, 2010
Wednesday, April 21, 2010
Retire By Age 30
You could retire by age 30. If you are in High School or College or in the military, you should read this.
I have gathered all the financial lessons I have learned (some were hard learned lessons) since I was about 18 or so and comiled them at my web site. I have lists of things you must do to build wealth, how to save more money than you probably think is possible. Affirmations, how to choose stocks, and more is at www.renegadeuniversity.net
With a good plan, you can retire early. Go for it.
Take an hour a day for a week and review the info at my site. Its a lot of stuff.
Bring any questions here.
I have gathered all the financial lessons I have learned (some were hard learned lessons) since I was about 18 or so and comiled them at my web site. I have lists of things you must do to build wealth, how to save more money than you probably think is possible. Affirmations, how to choose stocks, and more is at www.renegadeuniversity.net
With a good plan, you can retire early. Go for it.
Take an hour a day for a week and review the info at my site. Its a lot of stuff.
Bring any questions here.
Unlock the Secrets - How To Become a Millionaire & Creating Ultimate Wealth in Life
Becoming a millionaire and creating wealth requires change of mindset. Wealth management is unfortunately not taught in schools. For this following steps shall be useful:
1. Education: educate yourself to succeed. It is important to know that a small percentage of population is wealthy, because they have taught themselves that to become wealthy it is better to have their own business rather than to work for others. The education can be through attending seminars, reading success stories of wealthy people, observing and following how and what way wealthy people think and act etc.
2. By aligning with successful/wealthy people: this shall give you enough opportunities to know how they create wealth. Most successful people haven't become successful without finding a mentor. True millionaire live below their means. They do not believe in show business, and do not display unduly high social status. Millionaire motto is "You are not what you drive"
3. Adopt the habit of regular savings. Spending more than you earn can never take you to level of millionaire. A small amount being saved every month over a long period can grow to fabulous sum.
4. Invest in assets and review the return on these periodically. An asset must start giving some good return over a reasonable period. Earning residual income from the assets must be the ultimate goal.
5. Enhance you capability to earn more. This can be done by improving skills, education and exploring new business areas to invest.
6. Learn to evaluate the return on your every investment. Investing requires more wisdom and unless you are sure to get due return on investment, think deeply the need to invest. Just for the sake of having something, whether needed or not, is not a good approach. The need and then use must be well established.
7. For success in any business or profession remember the Word "KASH"
Where K stands for knowledge,
A stands for aptitude
S stands for skill
And H stands for good habits
8. Teach your children how to fish rather than to eat fish: The wealthy people do not pass on their wealth easily to their sons. They rather believe and teach their children how to earn and grow wealth.
9. Know more about taxes and its laws. Lot of income is parted off though paying off taxes. Many people do not spend time and do not acquire the adequate knowledge of saving taxes through legal means, and hence end up paying unduly high taxes. Hiring a good tax adviser, is a very good idea. The amount of fee to such expert shall be worth as it may save you much more taxes.
10. Healthy food habits: Know more about your body and be careful in eating. Wrong food habits can make you unduly sick and can make your life paralyzed, thereby reducing your earning/working capability drastically. Hiring the services of a good doctor/dietitian may also be considered.
11. Keep adequate health insurance: it is essential to have sufficient wealth for medical care in case of illness/accidents etc. For this, sufficient health insurance always be there, failing which, one may come down from wealthy person to a poor one.
12. Spend some time to exercise regularly to keep physically fit. Out of 24 hours, at least 1 hour must be spent on maintaining good health. Devote time to physical exercise/jogging, brisk walking/Gym going etc; and preferably under the supervision of a health expert.
Good health is the biggest asset of a person, without which, any amount of wealth generated, shall be of little use to the person.
13. Do donate some part of your wealth to charitable institutions periodically as per your capacity; Believe it or not, the wealth donated to charitable institutions, gives lot of happiness and more meaning to one's life. The wealth of the person doing so, gets increased by the blessings of the God.
14. Learn newer and latest technologies and adopt the same either yourself or through experts. More the latest technologies you adopt, more becomes your productivity and efficiency. In lesser time, you can produce more, and hence, can generate more wealth.
15. Maintain good working relations with all concerned. This is essential, as you shall need the help and support of concerned persons in building wealth. Try to help the concerned persons and in return you shall get the needed help. A single enemy can be more dangerous than many friends.
Learn my life-changing Free training to create ultimate wealth & time freedom in your life at my Website
To Your Massive Success
Devendra Patel - Internet Marketer & Coach
http://devendrapatel.net
Article Source: http://EzineArticles.com/?expert=Dev_Patel
1. Education: educate yourself to succeed. It is important to know that a small percentage of population is wealthy, because they have taught themselves that to become wealthy it is better to have their own business rather than to work for others. The education can be through attending seminars, reading success stories of wealthy people, observing and following how and what way wealthy people think and act etc.
2. By aligning with successful/wealthy people: this shall give you enough opportunities to know how they create wealth. Most successful people haven't become successful without finding a mentor. True millionaire live below their means. They do not believe in show business, and do not display unduly high social status. Millionaire motto is "You are not what you drive"
3. Adopt the habit of regular savings. Spending more than you earn can never take you to level of millionaire. A small amount being saved every month over a long period can grow to fabulous sum.
4. Invest in assets and review the return on these periodically. An asset must start giving some good return over a reasonable period. Earning residual income from the assets must be the ultimate goal.
5. Enhance you capability to earn more. This can be done by improving skills, education and exploring new business areas to invest.
6. Learn to evaluate the return on your every investment. Investing requires more wisdom and unless you are sure to get due return on investment, think deeply the need to invest. Just for the sake of having something, whether needed or not, is not a good approach. The need and then use must be well established.
7. For success in any business or profession remember the Word "KASH"
Where K stands for knowledge,
A stands for aptitude
S stands for skill
And H stands for good habits
8. Teach your children how to fish rather than to eat fish: The wealthy people do not pass on their wealth easily to their sons. They rather believe and teach their children how to earn and grow wealth.
9. Know more about taxes and its laws. Lot of income is parted off though paying off taxes. Many people do not spend time and do not acquire the adequate knowledge of saving taxes through legal means, and hence end up paying unduly high taxes. Hiring a good tax adviser, is a very good idea. The amount of fee to such expert shall be worth as it may save you much more taxes.
10. Healthy food habits: Know more about your body and be careful in eating. Wrong food habits can make you unduly sick and can make your life paralyzed, thereby reducing your earning/working capability drastically. Hiring the services of a good doctor/dietitian may also be considered.
11. Keep adequate health insurance: it is essential to have sufficient wealth for medical care in case of illness/accidents etc. For this, sufficient health insurance always be there, failing which, one may come down from wealthy person to a poor one.
12. Spend some time to exercise regularly to keep physically fit. Out of 24 hours, at least 1 hour must be spent on maintaining good health. Devote time to physical exercise/jogging, brisk walking/Gym going etc; and preferably under the supervision of a health expert.
Good health is the biggest asset of a person, without which, any amount of wealth generated, shall be of little use to the person.
13. Do donate some part of your wealth to charitable institutions periodically as per your capacity; Believe it or not, the wealth donated to charitable institutions, gives lot of happiness and more meaning to one's life. The wealth of the person doing so, gets increased by the blessings of the God.
14. Learn newer and latest technologies and adopt the same either yourself or through experts. More the latest technologies you adopt, more becomes your productivity and efficiency. In lesser time, you can produce more, and hence, can generate more wealth.
15. Maintain good working relations with all concerned. This is essential, as you shall need the help and support of concerned persons in building wealth. Try to help the concerned persons and in return you shall get the needed help. A single enemy can be more dangerous than many friends.
Learn my life-changing Free training to create ultimate wealth & time freedom in your life at my Website
To Your Massive Success
Devendra Patel - Internet Marketer & Coach
http://devendrapatel.net
Article Source: http://EzineArticles.com/?expert=Dev_Patel
The On Sure Wealth Creating Strategy
Like many young people, I started my career planning to become the CEO of a very large company and make a lot of money. There are many people who climb the corporate ladder to significant success. However, as you climb that ladder you begin to realize there is significant and increasing risk to those positions as the course of business events including changing bosses, changing economic conditions, and other business impacting events can bring your plans to screeching halt. Unless you have the right global personal financial and wealth building plan in place behind such a plan your best goals can run into brick walls. Let's get to the plan.
First, what is a plan?
A plan is:
A series of steps that if followed should lead to the result we intend to reach.
A plan should not allow for activities that create additional risk and undermine the goals intended.
A well designed planned will have self prophesizing activities included that are synergistic to the main objectives of the plan.
I am a student of history. Study of the most successful business persons in our nation's history all reflect these facts. Benjamin Franklin, George Washington, John D. Rockefeller, The Morgans, Warren Buffet and Bill Gates all demonstrated the following key attributes:
They selected their business focus and steadfastly kept to that focus.
They invested and reinvested their time and assets into these items.
They avoided debt and built equity.
They lived within their means (not always but from the point their success began to grow)
One of my favorite subjects on this single minded focused plan is Warren Buffet. His biography - Snowball does a tremendous job capturing the larger plan. So, what is the ONE secret to creating the personal wealth, security, and fulfillment that is your goal?
Choose a path, stick to the path, invest time and cautiously capital, stay within your means, strictly limit debt or hold no debt, and achieve steady consistent gains. This should apply to your jobs, your outside activities, and your investments. Warren Buffet says a diversified portfolio is a sign of ignorance of your investment area. Avoid ignorance and as Rich Dad Poor Dad suggests increase your financial IQ and knowledge in your focus area.
Consider that if you could save $500 per month for 25 years with no appreciation you would accumulate $150,000. Now consider that even if you only make 6% annually on those investments you will accumulate several hundred thousand dollars. Additionally, in the same time frame you will likely purchase and pay off your home. Considering that the markets normally average an inflation adjusted 8.5%.
The point this is, that while this plan doesn't promise millions the plan offers almost no downside risk, assures a very positive upside result. Once this is in place, over the course of a career or even if you are having to make a fresh start in your 40s or even 50s, a very significant financial success is within your reach and with work you will eventually improve your results over the base plan. One step at a time, one action at a time, create wealth, secure your future, and build a foundation for the future.
Blake Ratcliff has raised millions in equity capital, bought and operated 10s of millions of assets. He is a former Marine Officer, a United States Naval Academy Graduate, a father of 4, an avid reader, and starting all over again. Let's walk the journey together.
http://thejourneytogreatliving.wordpress.com/
Article Source: http://EzineArticles.com/?expert=Blake_Dale_Ratcliff
First, what is a plan?
A plan is:
A series of steps that if followed should lead to the result we intend to reach.
A plan should not allow for activities that create additional risk and undermine the goals intended.
A well designed planned will have self prophesizing activities included that are synergistic to the main objectives of the plan.
I am a student of history. Study of the most successful business persons in our nation's history all reflect these facts. Benjamin Franklin, George Washington, John D. Rockefeller, The Morgans, Warren Buffet and Bill Gates all demonstrated the following key attributes:
They selected their business focus and steadfastly kept to that focus.
They invested and reinvested their time and assets into these items.
They avoided debt and built equity.
They lived within their means (not always but from the point their success began to grow)
One of my favorite subjects on this single minded focused plan is Warren Buffet. His biography - Snowball does a tremendous job capturing the larger plan. So, what is the ONE secret to creating the personal wealth, security, and fulfillment that is your goal?
Choose a path, stick to the path, invest time and cautiously capital, stay within your means, strictly limit debt or hold no debt, and achieve steady consistent gains. This should apply to your jobs, your outside activities, and your investments. Warren Buffet says a diversified portfolio is a sign of ignorance of your investment area. Avoid ignorance and as Rich Dad Poor Dad suggests increase your financial IQ and knowledge in your focus area.
Consider that if you could save $500 per month for 25 years with no appreciation you would accumulate $150,000. Now consider that even if you only make 6% annually on those investments you will accumulate several hundred thousand dollars. Additionally, in the same time frame you will likely purchase and pay off your home. Considering that the markets normally average an inflation adjusted 8.5%.
The point this is, that while this plan doesn't promise millions the plan offers almost no downside risk, assures a very positive upside result. Once this is in place, over the course of a career or even if you are having to make a fresh start in your 40s or even 50s, a very significant financial success is within your reach and with work you will eventually improve your results over the base plan. One step at a time, one action at a time, create wealth, secure your future, and build a foundation for the future.
Blake Ratcliff has raised millions in equity capital, bought and operated 10s of millions of assets. He is a former Marine Officer, a United States Naval Academy Graduate, a father of 4, an avid reader, and starting all over again. Let's walk the journey together.
http://thejourneytogreatliving.wordpress.com/
Article Source: http://EzineArticles.com/?expert=Blake_Dale_Ratcliff
Friday, April 2, 2010
Become Rich Overnight
Are you the sort of person who could be attracted by a headline such as the one above? Do you really believe that it is possible to make that kind of money without any effort on your part? Of course you don't because you are a sensible rational adult who know that in this life you get nothing for nothing.
So if you and I cannot be fooled by these sort of smoke and mirrors claims who are the millions of people who respond to headlines and sales letters with almost as outlandish claims every day? Guess what, it is people just like you and me.
Be honest have you never responded to some advertisement or sales letter that seems just too good to be true. I suspect like me you probably have and within a short time you have realised that what may have appeared a great idea on paper is simply is a load of old rubbish.
So what is it in all our natures that make us want to believe that there is some hidden secret of creating wealth from nothing? I suppose that it is the same reaction as when we buy a lottery ticket and just for a few minutes we imagine what life would be like should we win.
I think possibly it is the optimists that get suckered into these wild schemes because somewhere in the back of their brains they know that the plan almost certainly will not work, BUT.. it just might. Most people use the glass half full half empty image to define optimists and pessimists but I have another analogy. An optimist is some who when buys a lottery ticket EXPECTS to win, a pessimist KNOWS he is not going to win.
Quite frankly there has never been a better time for anyone to build themselves considerable wealth. It is possible to start with practically nothing and in a relatively short time build considerable wealth. A ex work colleagues have mine has a son you was going to go to further education and wanted to get some cash to pay for his time at university. He came up with a simple idea, got some press coverage and made over $1 million in a very short time. He was the guy who got the idea of selling 1 million pixels on his web site for $1 a time; you may have read about him.
The formula for how to become wealthy can be broken down into plan, effort result. You need a plan or idea, add dedication, effort and determination and this will equal wealth. If you take a plan or idea and add nothing that will always equal nothing.
Someone once told me that there is a name for having a goal but taking no action, it is called day dreaming.
Wherever you are in the world to learn how eBay is changing and how you can build a profitable Online Auction Business visit http://www.ukauctionline.co.uk.
Article Source: http://EzineArticles.com/?expert=D_J_Bromley
So if you and I cannot be fooled by these sort of smoke and mirrors claims who are the millions of people who respond to headlines and sales letters with almost as outlandish claims every day? Guess what, it is people just like you and me.
Be honest have you never responded to some advertisement or sales letter that seems just too good to be true. I suspect like me you probably have and within a short time you have realised that what may have appeared a great idea on paper is simply is a load of old rubbish.
So what is it in all our natures that make us want to believe that there is some hidden secret of creating wealth from nothing? I suppose that it is the same reaction as when we buy a lottery ticket and just for a few minutes we imagine what life would be like should we win.
I think possibly it is the optimists that get suckered into these wild schemes because somewhere in the back of their brains they know that the plan almost certainly will not work, BUT.. it just might. Most people use the glass half full half empty image to define optimists and pessimists but I have another analogy. An optimist is some who when buys a lottery ticket EXPECTS to win, a pessimist KNOWS he is not going to win.
Quite frankly there has never been a better time for anyone to build themselves considerable wealth. It is possible to start with practically nothing and in a relatively short time build considerable wealth. A ex work colleagues have mine has a son you was going to go to further education and wanted to get some cash to pay for his time at university. He came up with a simple idea, got some press coverage and made over $1 million in a very short time. He was the guy who got the idea of selling 1 million pixels on his web site for $1 a time; you may have read about him.
The formula for how to become wealthy can be broken down into plan, effort result. You need a plan or idea, add dedication, effort and determination and this will equal wealth. If you take a plan or idea and add nothing that will always equal nothing.
Someone once told me that there is a name for having a goal but taking no action, it is called day dreaming.
Wherever you are in the world to learn how eBay is changing and how you can build a profitable Online Auction Business visit http://www.ukauctionline.co.uk.
Article Source: http://EzineArticles.com/?expert=D_J_Bromley
Secrets of the Rich and Wealthy
Here are the real secrets of getting rich from the people that have actually done it. These are secrets that you do not learn at school and normal people do not teach you because they do not know these. They will help you live a life of prosperity and allow you to help you achieve your dreams. Whether it is to get out of debt, help a true cause or have fun - these are the secrets to getting rich and wealthy.
Secret Number 1 - Live Within Your Means
The rich do not spend all their income on consumer debt or purchase items that will not add value to their lives. They manage their finances with budgets and only use debt to invest in assets that increase in value such as shares, properties and businesses. "The more you earn, the more you spend" so always keep an eye on your cash flow.
Secret Number 2 - Mindset
In order to be a wealthy millionaire or even billionaire, you need to think like one. If you want to become richer and wealthier, you need to set achievable goals for them every day. Remember that goals must be SMART - Specific, Measurable, Attainable, Realistic and have a Timeframe.
Secret Number 3- Leverage
Leverage is one of the most powerful tools and secrets to getting rich in the universe. It is about doing a small amount of initial work for processes that can be repeated many times in order to achieve a big outcome. For example: putting down a deposit of $10,000 to borrow $100,000 is leverage at work. Starting your own business then hiring some Staff is leverage.
Secret Number 4 - Other People's Money (OPM)
This is a secret that the Banks use. They put you into debt, while they make the profits via interest and fees. You can turn this around by borrowing other people's money to do your investing. For example: loans, borrowing from friends, putting things on credit. You do not need your own money to invest; you can use other people but be sure to share some profit with them.
Secret Number Five - Time
Getting rich and wealthy is done over time - not overnight. There is no "get rich quick" secret that is safe and realistic. Investing in quality assets such as property over time will increase their value and also your income cash flow.
Follow these 5 secrets so that you can achieve the dreams and things you desire. Opportunities for being rich and wealthy are out there but you just need to work out how to get it.
Get an easy-to-use, step-by-step book on the secrets of wealth now at: http://www.debtsecret.info
Article Source: http://EzineArticles.com/?expert=Kobe_Chan
Secret Number 1 - Live Within Your Means
The rich do not spend all their income on consumer debt or purchase items that will not add value to their lives. They manage their finances with budgets and only use debt to invest in assets that increase in value such as shares, properties and businesses. "The more you earn, the more you spend" so always keep an eye on your cash flow.
Secret Number 2 - Mindset
In order to be a wealthy millionaire or even billionaire, you need to think like one. If you want to become richer and wealthier, you need to set achievable goals for them every day. Remember that goals must be SMART - Specific, Measurable, Attainable, Realistic and have a Timeframe.
Secret Number 3- Leverage
Leverage is one of the most powerful tools and secrets to getting rich in the universe. It is about doing a small amount of initial work for processes that can be repeated many times in order to achieve a big outcome. For example: putting down a deposit of $10,000 to borrow $100,000 is leverage at work. Starting your own business then hiring some Staff is leverage.
Secret Number 4 - Other People's Money (OPM)
This is a secret that the Banks use. They put you into debt, while they make the profits via interest and fees. You can turn this around by borrowing other people's money to do your investing. For example: loans, borrowing from friends, putting things on credit. You do not need your own money to invest; you can use other people but be sure to share some profit with them.
Secret Number Five - Time
Getting rich and wealthy is done over time - not overnight. There is no "get rich quick" secret that is safe and realistic. Investing in quality assets such as property over time will increase their value and also your income cash flow.
Follow these 5 secrets so that you can achieve the dreams and things you desire. Opportunities for being rich and wealthy are out there but you just need to work out how to get it.
Get an easy-to-use, step-by-step book on the secrets of wealth now at: http://www.debtsecret.info
Article Source: http://EzineArticles.com/?expert=Kobe_Chan
Financial Independence - Go Get It
Financial Independence is something that countless people dream about but few ever achieve. So why is that? What's holding everyone back? The truth is its likely all in your head. A lack of drive or getting lazy can occur because your current situation is comfortable. Well if you really want that financial independence, the good news is you can have it. There's no magic formula or step by step manual to get there. You just have to go get it.
Now it's important to understand something first. Money is only good for the good it can do. If you're just trying to get rich so you can buy a Maserati, build a ridiculous house, and roll around in dollar bills all day, you're missing the point. Financial independence is about much, much more than that. It's about having the means to take care of your family, and to be a steward of your money to benefit the lives of others. It's about leaving the world a better place than when you got here and having a little fun in the mean time.
Ok, so now that you have your moral compass pointed in the right direction, how do you get there? It starts by taking control, changing your old habits and starting some new ones. Trade in that laziness and lack of drive for discipline and passion about getting where you want to be. Be focused, determined, and willing to push. Live like no other now, so you can live like no other later.
Start by creating goals. What is it that you really want? How do you get there? You've heard it a thousand times but goals need to verbalized and then written down. The most successful individuals are people who write goals down and grind and scratch until they achieve them. Are you willing to do that?
The first goal should be to get rid of bad debt. Quit carrying unnecessary balances on credit cards or buying cars you need to finance over 10 years. Did you really need that 65" LCD TV for the basement when you already had a 52 incher upstairs? Is driving around in a new Hummer worth sacrificing your retirement? Put as much extra money as you can toward the credit cards and car payments each month until they're gone.
Next, pay yourself first. This means that out of every paycheck a good chunk (at least 10%) needs to go into savings of some sort before you buy anything else. Once you have a cash cushion, start pumping money into qualified accounts 401k, IRA, Roth etc. Make sure to talk with your financial consultant about how to invest in these accounts. Do your best to max them out each and every year. Don't save based on what's left after you spend, spend based on what's left after you save.
And if you decide you want to increase your earning power, find your passion. Are you happy with your current job or do you want something more? Maybe you should consider taking night classes towards your masters, or sharpen your axe in another manner to increase your income. Do what you love, and the money will follow.
The last step to Financial Independence is to give freely. Make sure that you don't wait until you've "made it" to start helping out. Improving the lives of others by sharing what you've earned is one of the most important principles we can live by. It ensures that the money doesn't become too important, because if it does take center stage, everything else will crumble around it.
Remember there is no magic formula to attain financial independence. It takes discipline, passion, and the willingness to set goals and follow through on them. It means changing old habits and finding what you're passionate about. Pay yourself first, invest for the future and start giving. Keep your priorities straight, have a little fun, and forget about the money. That's what financial independence is really about. Now go get it!
Article Source: http://EzineArticles.com/?expert=Derek_Swedberg
Now it's important to understand something first. Money is only good for the good it can do. If you're just trying to get rich so you can buy a Maserati, build a ridiculous house, and roll around in dollar bills all day, you're missing the point. Financial independence is about much, much more than that. It's about having the means to take care of your family, and to be a steward of your money to benefit the lives of others. It's about leaving the world a better place than when you got here and having a little fun in the mean time.
Ok, so now that you have your moral compass pointed in the right direction, how do you get there? It starts by taking control, changing your old habits and starting some new ones. Trade in that laziness and lack of drive for discipline and passion about getting where you want to be. Be focused, determined, and willing to push. Live like no other now, so you can live like no other later.
Start by creating goals. What is it that you really want? How do you get there? You've heard it a thousand times but goals need to verbalized and then written down. The most successful individuals are people who write goals down and grind and scratch until they achieve them. Are you willing to do that?
The first goal should be to get rid of bad debt. Quit carrying unnecessary balances on credit cards or buying cars you need to finance over 10 years. Did you really need that 65" LCD TV for the basement when you already had a 52 incher upstairs? Is driving around in a new Hummer worth sacrificing your retirement? Put as much extra money as you can toward the credit cards and car payments each month until they're gone.
Next, pay yourself first. This means that out of every paycheck a good chunk (at least 10%) needs to go into savings of some sort before you buy anything else. Once you have a cash cushion, start pumping money into qualified accounts 401k, IRA, Roth etc. Make sure to talk with your financial consultant about how to invest in these accounts. Do your best to max them out each and every year. Don't save based on what's left after you spend, spend based on what's left after you save.
And if you decide you want to increase your earning power, find your passion. Are you happy with your current job or do you want something more? Maybe you should consider taking night classes towards your masters, or sharpen your axe in another manner to increase your income. Do what you love, and the money will follow.
The last step to Financial Independence is to give freely. Make sure that you don't wait until you've "made it" to start helping out. Improving the lives of others by sharing what you've earned is one of the most important principles we can live by. It ensures that the money doesn't become too important, because if it does take center stage, everything else will crumble around it.
Remember there is no magic formula to attain financial independence. It takes discipline, passion, and the willingness to set goals and follow through on them. It means changing old habits and finding what you're passionate about. Pay yourself first, invest for the future and start giving. Keep your priorities straight, have a little fun, and forget about the money. That's what financial independence is really about. Now go get it!
Article Source: http://EzineArticles.com/?expert=Derek_Swedberg
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