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Have you ever felt trapped in
a Rat Race and wished to retire quickly but
rich?
Have you ever felt that you
are spending way too much time working with your
boss at your office instead of with those you
love? Your spouse, children, friends?
Have you ever felt frustrated
because you are so deep in debt that you think you
won't be able to retire because as soon as you do,
the money will stop coming and thus you won't be
able to pay off your mortgages and credit
card?
Have you ever felt that you
have no control over your life anymore in terms of
time? Think about it: can you take a vacation just
anytime whenever you want/ need it and as long as
you want/ need it?
Have you ever wished that you
can work whenever you want and wherever you
want?
You are not the only
one!
Too many people are trapped
in a Rat Race because they have to. There are too
many bills to pay, and too many dreams to fulfill.
To them it seems that there is just no way to quit
their job and enjoy life, travel and see the world
with their loved ones.
Most people work because
their bills tell them to, not because they really
love to do it. Most people enslave themselves to
their debt or job, because (they think) they have
no choice.
This is the craving for
achieving financial freedom.
Freedom to choose when to
work, without worries about income cuts. Freedom
to spend more time with your loved ones, without
worries about your employment or your boss.
Freedom to take an expensive vacation, without
worries about retrenchments thereafter. Freedom to
do what you like, instead of what you've got to
do, without worries about whether or not what you
like generates enough income for you.
If you seriously crave for
financial freedom, finding a better job with a
higher paycheck is not going to work. Higher
paychecks would usually mean more expensive
lifestyle, more needs, more mortgages you THINK
you can afford, more responsibilities thus more
working hours and more time to spend at the office
instead with your loved ones. And there is always
the same problem: as soon as you stop, the money
stops.
If you understand this, you
will come to see that financial freedom is not
measured by how much money you make by working,
but by how long your money can support your normal
lifestyle when you stop working.
And financial freedom is
definitely not about accumulating abundant riches.
It is about a golden chance to live
abundantly!
Imagine! With financial
freedom, you will have more quality time to spend
with your family and friends. You will have more
control over your life to do whatever you want,
whatever you love, whatever you're passionate
about. You will be able to give more, help others,
make your part of the world a better place to
live! You will be able to spend as much or as
little time with your business as you choose. You
will be able to come and go at will.
What a great chance to live
abundantly!
Is craving for financial
freedom realistic? Yes it is. It is not impossible
to achieve it. Ordinary people have achieved
financial freedom. They may not have their own
luxurious yacht, but they have the time and the
money to take their family on an expensive cruise
to the most expensive spot on earth.
There are basically only two
fundamental things ordinary people have known for
decades to achieving financial freedom:
1. Manage your time and
money!
Time and money are the only
two factors that keep people from achieving
financial freedom.
To duplicate the success of
people who have reached financial freedom, you do
not need to have self-confidence, super
intelligence, high education, great luck,
hard-work or great career path. Although those are
all good characteristics, they are not fundamental
to achieve financial freedom.
All you need is a good time
and money management, which would also result in
high productivity!
Invest your time in creating
extra money that you can later invest. You can do
that by taking up a part-time job or working
overtime.
As soon as you have more
extra income, be a responsible manager of your own
money! Live less than your income so you can start
investing. It is from investing in a business that
will one day generate income for you and sets you
financially free from having to work for a
living.
As much as possible avoid
borrowing money for anything at all. I believe
everybody has been taught about the negatives of
being in a debt, but very few have been taught to
consider the benefits of being debt-free.
By being debt-free, you will
have more money to invest. Ask yourself this
question: how difficult would it be to create an
extra $1,000 a month by cutting expenses and by
investing the money you normally use to pay your
debt?
2. Start investing in your
own business to create passive income!
Passive income is income
which requires little or no work at all. The
example would be writing a book and get paid
forever on it, traditionally investing huge
capital or starting your own business.
As a passionate home-business
owner myself, I believe that having your own
home-business is by far the most powerful way to
create passive income. It takes only small
start-up capital and you will have extra tax
benefits.
It is easier to generate
passive income by having your own business than by
traditionally investing. If your goal was
generating $40,000 annually you would need
$1,000,000 to invest at 4% interest. Very few
people have this much start-up capital.
But there are many ordinary
people who have become home-business entrepreneurs
and generated $40,000 annually by investing very
small capital.
Finally, quoting Jeff Olson, author
of The Slight Edge "simple daily disciplines compounded
over time do matter" Believe and Act and you
can achieve financial freedom.
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