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A guide to Financial Freedom.
Most of us speak about getting financial freedom but hardly anyone of them knows what, how, and when to achieve it.
It is not easy but not rocket science.
#investors
Most of us speak about getting financial freedom but hardly anyone of them knows what, how, and when to achieve it.
It is not easy but not rocket science.
#investors
Financial freedom is about much more than just having money. It’s the freedom to be who you really are and do what you really want in life. It’s about following your passion, making choices that aren’t influenced by your bank account, and living life on your term
-Robert Kiyosaki
-Robert Kiyosaki
The path to finding financial freedom lies within you. Every individual has their own path. However, the basics of financial freedom in the same for everyone.
Here in this thread, I will talk about the basics to achieve financial freedom.
#investors
Here in this thread, I will talk about the basics to achieve financial freedom.
#investors
Three things before you start the procedure to become financial freedom.
a. What is your goal?
b. When do You want to achieve it?
c. How you will achieve it?
#investors
a. What is your goal?
b. When do You want to achieve it?
c. How you will achieve it?
#investors
A. What is your goal?
Everything needs a goal. You must define how much and what amount of money or asset will make your financial freedom.
Here the asset not only confines to money or property it could be anything that liberates you from financial challenges.
#investors
Everything needs a goal. You must define how much and what amount of money or asset will make your financial freedom.
Here the asset not only confines to money or property it could be anything that liberates you from financial challenges.
#investors
B. When do You want to achieve it?
The timeline must be fixed. Ok it would be achieved overnight or any fixed date in the distant future. It is a procedure from an unstable life to a freedom life. And the transition takes time.
Generally, it takes min 5 years to a lifetime.
The timeline must be fixed. Ok it would be achieved overnight or any fixed date in the distant future. It is a procedure from an unstable life to a freedom life. And the transition takes time.
Generally, it takes min 5 years to a lifetime.
C. How you will achieve it?
This is the most crucial part. There are literally thousands of ways in this 21st Century.
Back in prehistoric hunter-gathering time, farming was a kind of financial freedom. But today it is obsolete.
#investors
This is the most crucial part. There are literally thousands of ways in this 21st Century.
Back in prehistoric hunter-gathering time, farming was a kind of financial freedom. But today it is obsolete.
#investors
Now fix your goal. for example.
50 lakh in 10 years.
2 houses in 15 years
3 business properties in 20 years.
I mean always put in number rather generalize. Numbers make crystal clear of your target and what you have achieved to date.
#investors
50 lakh in 10 years.
2 houses in 15 years
3 business properties in 20 years.
I mean always put in number rather generalize. Numbers make crystal clear of your target and what you have achieved to date.
#investors
In pursuit of financial freedom, number matters a lot. Each and every goal must be in numbers. Never think you are gonna make hell lots of money and property.
Remember for Ambani another $50 bill might not be a hell lot of money were for a middle-class Rs. 50000 is too much.
Remember for Ambani another $50 bill might not be a hell lot of money were for a middle-class Rs. 50000 is too much.
So always make a goal in number and which must be achievable. Or you might end running for it forever.
Here comes the second part when you want to achieve?
It depends on you. But better if you achieve it by max-age 50 not later.
#investors
Here comes the second part when you want to achieve?
It depends on you. But better if you achieve it by max-age 50 not later.
#investors
Now the question arises how? Here the process starts to become financially free.
The first thing checks how much property or asset you hold. Also find out the liability or loan you have. and deduct it.
Means
Asset- Liability = Total proprty.
#investors
The first thing checks how much property or asset you hold. Also find out the liability or loan you have. and deduct it.
Means
Asset- Liability = Total proprty.
#investors
Again what is an asset. Don't consider anything you own is an asset. Asset means which is generating anything for you without your daily interference.
same goes for liability. Anything that costs you on a regular basis is a liability.
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same goes for liability. Anything that costs you on a regular basis is a liability.
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A house for which u are paying EMI on regular basis for the next 20 years is a liability. But the same house will be an asset when you rent it and start earning money.
The same goes for everything else.
#investors
The same goes for everything else.
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Now, it would be easy for you to evaluate. You could ignore a few necessary things which belong to none of these two categories. They are just essential things neither eating your money or nor generating anything.
#investors
#investors
Hence you find the total amount you own. Is it bad? It is fine. at least you started planning to reach financial freedom.
Now there are a few things which will help you to reach the goal.
#investors
Now there are a few things which will help you to reach the goal.
#investors
The general term for this kind of earning which generates money for you without interfering on a regular basis is known as Passive income
On the other hand active income comes from your regular involvement. All Milking Cows are active earners https://corporatesahu.com/2020/04/19/milking-cow-job/2/
On the other hand active income comes from your regular involvement. All Milking Cows are active earners https://corporatesahu.com/2020/04/19/milking-cow-job/2/
Make intellectual properties.
Buy properties that you could rent others.
Buy high dividend-paying stocks
Become a YouTuber and so on.
These are a few ways where u can earn passively. These methods are divided on the basis of,
#investors
Buy properties that you could rent others.
Buy high dividend-paying stocks
Become a YouTuber and so on.
These are a few ways where u can earn passively. These methods are divided on the basis of,
#investors
a. Investment based
b. Skill-based.
Again these types are divided into multiple types. Read this article for more details. https://corporatesahu.com/2018/05/03/type-of-passive-income-find-your-passive-income/#more-108
b. Skill-based.
Again these types are divided into multiple types. Read this article for more details. https://corporatesahu.com/2018/05/03/type-of-passive-income-find-your-passive-income/#more-108
Now you'll find out which the best way for you to utilize to liberate yourself from financial problems and make financial freedom. https://corporatesahu.com/2018/05/01/first-passive-step-monthly-money-save-management/#more-91
Few more articles which could help u understand more.
What is passive income? https://corporatesahu.com/2018/04/29/why-passive-income/
What is passive income? https://corporatesahu.com/2018/04/29/why-passive-income/
Passive income vs Active income. https://corporatesahu.com/2018/04/28/basics-active-income-vs-passive-income/
Money is just a game of numbers. https://corporatesahu.com/2018/04/27/money-game-of-numbers/
How to invest your first money. https://corporatesahu.com/2018/05/04/3-golden-rules-to-become-rich/
Find your own passive type of income. https://corporatesahu.com/2018/05/04/3-golden-rules-to-become-rich/
A beginner guide to stock market.
https://wordpress.com/block-editor/post/corporatesahu.com/320
#investors
https://wordpress.com/block-editor/post/corporatesahu.com/320
#investors
In fact having higher followers in #tweeter, #instagram, and even in #Tiktok will generate money for you, if you know how to monetize.
#investors
#investors
