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The Fail Safe Path to Financial Freedom

May 30, 2011 By 153 Comments

Have you been searching for the fail safe path to financial freedom? There are a lot of books and websites and other media that swear they know the fail safe path to financial freedom and they are willing to share it with you for a fee. But most of those books and websites don’t have any special insight into the path to financial freedom they are just selling financial tips and financial information.


You can find the fail safe path to financial freedom for yourself if you educate yourself about personal wealth management and you can learn how to use your personal wealth to your advantage. Investing and saving money are definitely steps on the path to financial freedom. Investing is necessary because it’s really difficult for a person to save enough money to find financial freedom without a large influx of cash from something like a settlement, an inheritance, a property sale or an investment return.


The bigger the chunk of cash is that you start with the more money you can invest and the bigger that chunk of cash will grow. So the fail safe path to financial freedom involves investing your money in a low risk and high return investment that will help your money continue to grow. Another component of the fail safe path to financial freedom is being responsible with your money. If you are responsible in how you spend money, if you regularly add money to your savings account and you invest wisely you can achieve real financial freedom but there is no one thing that will bring financial freedom you need to have a whole wealth management plan in order be on the fail safe path to financial freedom.


Some people that think the only way to really achieve financial freedom is to have a lot of money to invest in the first place but that’s not necessarily the case. Ordinary people with ordinary jobs and savings accounts can put themselves on the fail safe path to financial freedom just by making sure that they add to their savings account regularly and make safe investments and live frugally, saving money where they can.


Once you have achieved financial freedom you can stop watching every penny that you spend but until you get there it pays in the end to be careful when you make purchases. Compare prices, make sure that you really want or need an item before you buy it, and never buy anything over $100.00 until you have waited for 24 hours and you’re sure that you still want the item. Those are all fail safe ways to put yourself on the path to financial freedom.


Even if you don’t have a lot of money to start with you can still find financial freedom so if you want to get on the fail safe path to financial freedom start taking control of your finances and learn about how to manage your personal wealth so that you can eventually find financial freedom.

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Financial Freedom, your Key Ingredient to Success

May 30, 2011 By 157 Comments

Discover why you need to achieve financial freedom which gives you the right to have the free and unrestricted use of all the things that you have always dreamed of in life. It all starts with defining your financial future in clear terms and then crafting a plan to achieve it.

One of the key ingredients of success is financial freedom. For you to be financially free means that you have enough money so that you don’t worry about it continually, as most people do. It is not money that lies at the root of all evil; it is the lack of money. We often hear some of the negative beliefs that tend to bind people’s lives, such as these ones:

Money is evil.
Money doesn’t grow on trees.
Money is filthy and dirty.
Money is in short supply.
Money goes out faster than it comes in.

We should all agree that money is just a medium of exchange and that it does not cause anything as we have been made to believe it does. Money does not have its own mind and to say it is evil is not a true statement.

One of the most important goals and responsibilities of your life is when you are able to achieve your own financial freedom. It is your birth right to have financial freedom and it is far too important to be left to chance as some people do. In the book, “The Science of Success – The Secret to Getting What You Want”, Wallace D. Wattles said “Man’s right to life means his right to have the free and unrestricted use of all the things which may be necessary to his fullest mental, spiritual, and physical unfoldment; or, in other words, his right to be rich.”

Many people are facing a plethora of problems which are as a result of lack of money or lack of financial freedom. For instance, around 80 percent of the population is preoccupied with money related problems. These people think about and worry about money day in and day out. They are preoccupied with the problem of lack of money when they wake up in the morning, while they are having their breakfast, when time for lunch approaches and throughout the day. Even at night they continue to talk and think about money. This is not conducive to good living because the Universe has promised all of us life in abundance.

As Wattles said, money is important and it is an integral part of our day to day livelihoods. Money is an essential factor in the achievement of other ingredients of success such as a peace of mind, good health and good relationships. Nowadays most of the worries, stress, anxiety and loss of peace of mind are caused by problems stemming from the qualms around money. Many psychosomatic disorders are caused by stress and worry about lack of money. Many problems in relationships such as marital breakdowns and divorce are caused by problems pertaining to lack of financial freedom. One of the root causes of divorce nowadays is based on arguments about the use of money and lack of financial freedom in the household. It is therefore incumbent upon you to develop your talents, skills and abilities so that you can earn enough money. In that way you can be able to avoid having to worry about money.

It is important to note that a feeling of financial freedom is a necessary step towards the attainment of any other important goal that you endeavor to achieve in life. You cannot talk of financial freedom until and unless you have enough money to do what you want to do when you want. In that way then you will no longer be preoccupied with money issues. If you want a peace of mind in life then one of your main aims must be to strive to achieve your own financial freedom and independence.

Just imagine that you had a magic stick and you could wave it to design your financial life in such a way that you could have an abundance of money to do what you want when you want. Imagine what your life would look like if you had achieved all your financial goals? Where would live? What would you do more of, or less of?

There are certain questions that you need to ask yourself in your quest for financial freedom and in your desire to achieve an abundance of money. These questions will also help you set your goals and be clear on what you want to achieve in life.

 Here are some of the important questions you need to ask yourself: How much would you like to be earning one year, five years, and ten years from now? What kind of a lifestyle would you like to have? How much would you like to have in the bank? How much would you like to be worth when you retire? These questions are very important if you want to move from where you are now to where you want go.

 If you are perfectly clear about where you want to go financially, it is a lot easier to get financial advice or learn what you need to know and do in order to get there. It is important for you to decide what you want in life and be clear about it. It is only when you are clear about what you want to be or to have. This accords you a sense of direction and you will be able to take inspired action to reach your destiny. There are some financial tips that you get for you to easily acquire financial freedom. Thanks to the internet technology!

I wish to implore you to make an effort to decide exactly what you want your financial life to look like, and take appropriate action to move you towards the attainment of your goals. Develop your plan action on how you want to attain your financial freedom.

My last word is to let you know that, it all starts with you defining your financial future clearly and then making a perfect plan to achieve financial abundance which is your birth right. There is a proven system that could help you achieve your financial goals faster than you might have imagined possible. You need financial literacy and financial investment in your quest for financial freedom.

 God bless you to achieve your financial freedom.

Click here for more

 

Ben Semommung is a professional social worker, a network marketer, a writer and motivational speaker. His life purpose is to inspire and empower people from all walks of life to develop their full potential.

He has been involved in network marketing since 2004 and is one of the promising internet marketing geniuses online today who actually ‘walks the talk’. Ben is the owner and CEO of Dauphin Holdings (Pty) Ltd. His hobbies include reading, writing and surfing the net. He would like to meet new friends online and start networking. 


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What is Financial Freedom?

May 30, 2011 By 1 Comment

Financial freedom isn’t the same as being rich. Although people often confuse the two, they are completely separate goals. One person could be completely financially free earning $15,000 per year. Another person could be trapped, even with millions of dollars.

When I think of financial freedom, I am referring to having a years worth of living expenses sitting in the bank. It is my emergency fund, to cover necessary expenses for me and my family in the event of something drastic.  But this is just my first step towards financial freedom.

What is Financial Freedom?

I define financial freedom as not needing to worry about money. Money shouldn’t be a dominating force in making decisions in your personal or professional life.

A good way to view financial freedom is another type of freedom most people in the Western world enjoy: freedom from hunger. As a human being, I need to eat to survive. But the relative abundance of food in my life has meant hunger is never a driving force in my decisions. If food were scarce, getting enough to eat would probably occupy all of my thoughts.

Being financially free, is the same as being free from hunger. Money will always play a role in your life. But you are free when it no longer becomes the dominating influence on your goals.

Financial Freedom is More Important than Wealth

With food, there is an upper limit to the amount you can consume. Once you reach a minimum threshold, freedom from hunger is basically guaranteed. But there is no upper limit for spending money. That’s probably why there are far more people free from hunger, than those free from money.

Wealth is only part of the picture. If your spending outpaces your income, it doesn’t matter whether you are rich or poor: you aren’t financially free. Pursuing wealth is a noble goal, providing you do it by contributing value. But it doesn’t guarantee the peace of mind and satisfaction associated with financial freedom.

Originally all of the financial goals I set were strictly income or savings goals. Have $ __ by a certain date. Now I realize that this isn’t enough. Earning more money won’t bring me closer to financial freedom unless I also make progress in the other elements of financial freedom.

There are three main elements to financial freedom:

Automatic income to sustain yourself without needing to work Higher income than spending A low poverty threshold

1) Automatic Income: Not Needing to Work

Complete financial freedom would mean your income is automatic: either through interest on savings, passive income or a business, such as Fortune Hi Tech Marketing. A Fortune Hi Tech Marketing business allows you the ability to build a residual monthly income utilizing leverage. If you stopped working for an extended period of time, your life wouldn’t make a noticeable turn for the worse.

Of course, this is an extremely difficult goal to achieve. However, you don’t need to achieve 100% financial freedom to enjoy the benefits. Making progress towards any of the three elements will improve your life.

Building an emergency fund with one year of income is a large positive step towards this first element. If I’m living paycheck to paycheck, I’m forced to work to survive. With a large enough emergency threshold, I have at least a one year buffer before being forced to work.

In a perfect world, material wealth would vastly outstrip needs so that people pursued work entirely for the joy of creating and a professional mission. That’s not reality, but you can be another step closer by having enough automatic income or savings to create a buffer between you and the need to work.

2) Greater Income than Spending

It’s amazing that in one of the wealthiest countries in the world, we have so much consumer debt. Some debt is an investment. Student loans or borrowing money to launch a business are often necessary to reach more important goals.

But much of today’s debt has nothing to do with investing in the future. It’s excess spending on credit cards. We are buying bigger cars and bigger homes in excess of our means. We are consuming for today at the price of tomorrow.

In this point, the difference between wealth and financial freedom is most noticeable. Persons earning six-figure salaries are often burdened by consumer debt. If your expenses outpace your income, you can’t be financially free. You are always sitting on the knife’s edge of your ability to spend, so money must be a constant factor in your life.

The goal, of course, isn’t just to eliminate debt, but to be actively saving. When you have the ability to put away 10%, 30% or 50% of your income into savings, you have increased freedom. Now, there is another level separating you from the chains of money. Instead of wondering whether you’ll have enough food to eat, you always have an excess in your cupboard.

3) A Low Poverty Threshold

The poverty threshold is a term I use to describe the minimum amount of money you need to enjoy a comfortable life. Some people require $70 ,000 per year for comfort. Other people may need less than$10 ,000.

A low poverty threshold means you could be perfectly content with a bare minimum of material conveniences. If all your savings were stripped from you, and your income was reduced by 80%, could you still enjoy yourself? Or would you be miserable having to adjust to a lower level of income.

Your poverty threshold is psychological. It’s not about actually having to survive poverty. Having a low threshold simply means you’d be willing to sacrifice more to make bigger changes. For example, imagine your poverty threshold was roughly $50,000 per year. If you had the opportunity to switch to a more exciting career, but the starting pay was only$40 ,000, you wouldn’t be able to make the switch. A lower threshold is freedom.

Building a low poverty threshold is about occasionally conditioning yourself to go without. Go an entire week without spending any money. Travel for a month and stay in hostels instead of nice hotels. Go without your car for a month.

Experiencing mild poverty in small doses allows you to lower your threshold. It’s just like dipping your feet in a lake to get used to the cold water. Occasional splashes keep you from being afraid to dive in when you need to.

I think this last element of financial freedom is the one most away from current advice being given today. It has nothing to do with money, but entirely your mental disposition towards money.

Isn’t Consumption Insatiable?

Economists make the assumption that people have unlimited wants. While that assumption may be useful for drawing graphs, the evidence is to the contrary. Studies of happiness have shown that, beyond a minimum level, money doesn’t directly contribute to your happiness.

There will always be material desires. But if you build enough financial freedom these desires shouldn’t dominate your life. More important desires like meaningful work, relationships and self-improvement should have a bigger influence on your decisions.

Isn’t Earning Wealth the Hard Part?

One discussion of financial freedom could argue that earning all the money is the hard part. Your mental disposition is relatively easy, once you have a high enough income and savings.

I disagree. I know many people who are unhappy, even though they have more material comforts than I do. I also know people who appear to be content, even though they have less. In fact, I’d say that earning the money is the relatively easy part. Your mental disposition is far more stubborn.

It’s easy to be seduced by competing for wealth, advertisements and getting too comfortable with your possessions. The struggle for financial freedom has to be waged on both fronts: earning enough money and building the mental discipline to keep that money from controlling you.

Build Your Financial Future

How can you build your financial future when so many of us are laid off, facing layoffs or just unemployable in this tough economy? For me and my family, it was through a vehicle called Fortune Hi Tech Marketing or FHTM.

 

What other business or franchise can you start or purchase for less than $400.00 that will allow you to build a successful business, regardless of your experience, education with no employees, no inventory and no selling?

 

If you find one let me know! Fortune Hi Tech Marketing is building a network of tens of thousands of people just like you or I, that may have been affected by the economy or that wants to experience financial freedom.

 

To learn more about using Fortune Hi Tech Marketing as a vehicle towards building your financial freedom, visit my FHTM marketing website or contact the FHTM reps that set you this article.

Brent Vanderstelt is RSM and Trainer Coach for Fortune Hi Tech Marketing and web developer.
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