Many people have worked very hard throughout their lives, but never find themselves in a position to achieve their goals of achieving financial freedom. Many people I know even sacrifice personal or family time to make up for that little bit of success or extra money, but still fall short of the goal. Why? The answer is perhaps that they have worked too hard! What? Isn’t that what our parents and teachers have always taught us from day one, which is to work hard to earn a living and get rich? This is where the problem lies… the keyword “work hard” and how our thinking is often set up as such.
First, let’s properly define what “financial freedom” really means. As there can be many definitions, I decide to take it from the most commonly accepted medium, Wikipedia. This is how Wikipedia defines it: “Financial freedom describes a well-planned lifestyle where you no longer need to work for income to cover your expenses.“. Being in a state of financial freedom does not mean that a person is necessary to get out of debt! Which means that one no longer has to work for money simply because money works for one and is consistently more than enough to cover expenses, including debt. Ultimately, one can live their desired lifestyle without having to worry about money!
Some may say, “how to earn money without working? It’s not possible!” In fact, it implies a great change of mentality. First you have to start removing the bad word called “work” and replace it with “system“. For example, franchises, network marketing… these are all systems. The system is also often associated with Automation. The idea is to free yourself by doing more value added things instead of constantly demanding that you get personally involved in all matters major or minor.
With “Systems”, you must understand the word “take advantage of“. A person by virtue of his own ability has limited resources, therefore it is important that he knows how to LEVERAGE. For example, network marketing is one of the best forms of leverage due to the fact that you can effectively leverage all of your downlines to support your business (and yourself of course) and make money for you too every time they make money.Get the idea?Once you have a SYSTEM in place, the next thing you notice is consistent generation of cash flow.Although the amount of cash flow can often be small initially, the amount of cash flow increases over time due to the compounding effect.Imagine you have 5 downlines in your network marketing organization and the same 5 people have 5 other people under them as follows. month. This works out to 25 people total! Got it? This systematically generated cash flow is called passive income(or Residual Income). Essentially, when you consistently earn more passive income than you spend, you’re on the right path to achieving financial freedom!
Investments such as Inventory Y properties They are also a very good source of passive income. for example, stock dividends, property rental income. I know several wealthy people who earn so much dividend income each year that they can withdraw money without having to worry about money.
Let’s not forget to mention about the Internet! The creation of the Internet has opened an overwhelming gateway for almost everyone on this planet to have a real chance of earning money without being physically there! Most importantly, the internet serves as a perfect platform as a 24/7 money-making engine that never stops, not even when you sleep!
Last but not least, a very important key mindset shift is the willingness to take risks! Leave your comfort zone for a better financial world! It is through risk that one will become a better and more competitive person that makes a person’s mind think more effectively to achieve success!