The right answer to this question is problematic but if you are reading this because you are struggling to understand just what financial freedom is exactly, then I may have just the thing for you.
Let me start by saying that it means a number of things to a lot of people. You must understand a few basic concepts and then the way you approach the problem will all be revealed.
Let me start by saying that financial freedom is something that can be measured. You can look at things such as; a monthly mortgage payment, enough money in the bank to pay all of your bills, or have financial freedom to go on vacation.
At first glance it may seem like the bigger the problem that is more important. But that is not always the case. For an example a person who is tasked to take care of 5 children around the house and pays $80,000 a year in a mortgage, but has no money in the bank for emergency expenses such as car repairs or unusual illness etc., is going to struggle with their ability to meet their regular monthly mortgages.
However, just because someone is more “office” driven and constantly highlights their important possessions such as electronics, or more electronics in their daily lives, does not mean that they are suddenly “not” broke. In fact, one of the first places they take money from is your monthly mortgage payment.
As you can see this means that you must take charge of many aspects of your life if you expect to become financially free. One of the first steps is to figure out how much money you are making right now.
If you are making $100,000 a year and you have $20,000 in bills make sure that you can save enough money such that if you had to pay every family member at least $80,000 each in order to save a vacation. Even if you can only save $5,000 it will help considerably in the long run.
If the math really makes you sick then consider finding a new job that is cheaper. Someone who is making $70,000 annually but lives at half the cost could easily save double what that person is making and use that money to purchase the same items or more with the money they have saved.
Now just that is one idea, now what? Where can I find another job?
Once you have determined how much you need to save you must then look for ways to make that money grow. An investment is simply putting money in the bank. Whether it is one of several different investment vehicles like the stock market, mutual funds, IRA’s, real estate, precious metals, or online trading platforms it must grow in order for the return on your money to justify the risk.
Once you have determined what you should be investing in you then should look at the various methods for investing, in my opinion the twoBest ways to pick stocksis through the internet. Because this can now be done from home at the click of a button you can have a wealth of information at your fingertips before you put money in. Once you begin going through the route you should have a relatively good idea how much return you’ll receive.
Another and affiliated way of investing should be through doing it through purchasing gold and silver in the form of coins. While most gold coins are bought from a dealer they are of much higher value and are easily stored and saved.
A Final tip to consider when beginning your financial freedom investment would be through working the system. This is very simple and simply takes a little time but does accumulate some good returns over time. It involves being a member of a business that is doing well and providing your services to that company for a generous fee in return.
The great thing about this tip is that regardless of the company you are joining you can earn benefits and return at a rate that insignifsupported by the overheads of the company. This is simple and without the need for commission.
