What is Financial Freedom?
It is not by having not to worry about money because you have enough or more. It is not being able to buy all the things you want and end up not having any money left. Financial Freedom is by having enough or more money even though you’re doing no work.
Don’t get me wrong though, this can happen if you have organized everything that cash will just flow to your pocket. Yes, It’s possible.
Being in this position seems very nice right? Imagine! You have nothing to worry about. You are free. So,..
How to be Financially Free?
First things first! Being financially free requires lots and lots and lots of effort at the beginning! It’s a very tedious job and requires all your attention. So wait? I think that’s a bit tiring. Maybe i’ll just work in a company. Have a stable job, get a secure pay every month, and sometimes we will even have benefits if we’re lucky!
Yes, you could do that. But chances are, if your performance are not consistent and if the company wishes to do so, they could have you fired at any moment.
Also, According to the Forbes website, an article containing the statement of the conference board reports that 58 percent of Americans are unhappy with their work. Imagine that.
So what are certain ways in which a person can have financial freedom?
below is a list.
This article that you are reading right now is also a blog. Successful bloggers earns Millions of dollars every month according to Forbes. Ever heard of these blogs?
Huffington post – $14,000,000 / Month
Engadget – $5,500,000 / month
Moz – $4,250,000 / month
Mashable – $2,000,000 / month
TechCrunch – $2,500,000 / month
With those numbers, and with proper money handling, you certainly can achieve financial freedom. But how do they make money? well, through readership, advertisements and lots of variety of income streams. For further information regarding making money on blogs, Check this out
Stocks, Bonds, Mutual Funds –
The gist here is, You invest (put in / lend) your money to a company in exchange for a percentage of share (ownership) of the company. You, the owner of the money can choose what company you will lend your money to, or the stock broker can do it for you. Stock brokers are professional people expert in this field. You will just sit back, relax and wait for your money to grow in the coming years. For more details check out this site
Investopedia has a lot of videos in YouTube regarding stocks, bonds and mutual funds. They even have videos of every terms used in investing. Enjoy!
When it comes to real estate, you buy a house at a lower price and sell it at a higher price. Or you could have them rented out or leased to have a passive cash flow. As you grow you can go for a duplex, triplex and eventually commercial buildings as your profit increase. To have a general idea and a step by step guide of the overall process of real estate investing check out the book,
“How to buy your first investment property – Rich dad”
Online stores can be a good way of earning huge figures. Just like shopping malls or grocery stores, you sell all your products online. You can do retail selling or Wholesale selling depending on your strategy. You can even do dropshipping. Which is by selling products which are not yours. And earn a commission upon getting a sale. Two example of the world’s most successful owners of online stores are :
Amazon – Jeff Bezos Net worth $105 Billion
Alibaba – Jack Ma Net worth $46.6 Billion
What to do?
Now, lets say you were successful in one of those 4 examples above, don’t splurge them all immediately to purchase things that gives you no money back. YET. because eventually, you will not have enough and you’ll go back again to square one. Think of a way in which your money can grow in cycle all on their own. Having cash to just flow in your pocket. This is possible. But again, to get there, the effort is insurmountable.
p.s. If you have suggestions or feedback just comment down below. Have a great day!