Financial Freedom Definition

Financial Freedom is when you have enough money or passive income to make decisions and live the lifestyle you desire without being constrained by the limitations of money.

 

Attaining Financial Freedom

It is important you read our pages on wealth and income as this information cannot be taken in isolation. Attaining financial freedom is all about building assets and passive income. Focus on spending buying income.

Financial freedom is attained when you invest in enough assets or create enough assets to provide you with ample income to meet your expenses. To attain financial freedom you need to address three areas:

1. Create leverage through building new income sources
2. Invest income into assets to provide unearned income
3. Control your expenses

 

Unfortunately most people on their own cannot attain financial freedom in a short period of time without using leverage.

There are many many ways to increase your leverage. The most obvious is investing. Every time you invest in assets you increase your leverage. This is extremely important to convert earned income to passive income.

When considering borrowing to invest as a way of getting more leverage you need to understand that leverage dramatically boosts the chances of financial gain and loss. Consider what has happened to highly geared investors in the 2008 Credit Crisis. Seek expert advice.

 

A much safer form of leverage is to build multiple forms of income using leverage. You only have so many hours per day of labor and when you only work for earned income your leverage is 1:1 and will always remain 1:1

 

A faster, cheaper and lower risk way to increase leverage is through establishing small businesses and growing multiple income sources. Be aware 80% of traditional small businesses go broke.

This is why we use internet businesses to build our leverage. We start with almost insignificant costs. The main investment is our time and we scale the ones that work and trash the ones that don't work.

We actually use the Commission Blue Print product you see advertised to the right. It cost us less then $100 and we have scaled the use of it to make a lot of money.

Our philosophy has worked very well indeed and allowed us to continually expand our leverage, boost income and then invest the income in assets. Find opportunities with low start up costs offering large returns and milk the ones that work, while quickly eliminating the time wasters.

 

 

A word of warning: Obviously most people with limited money would take one look at the definition of financial freedom and instantly say I will trade what I have for that thanks. Its not that simple. Read our section on wealth. Other areas of your life must be focused on as well. If you want to see what happens to people who get their lives totally out of balance take a look at the Hollywood Tabloids - money alone wont buy happiness or make you content.

 

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Disclaimer - this information is general in nature and does not take into account your individual circumstance. You should always seek professional independent advice prior to acting on this information or making any decisions based on this information.