The path to financial freedom is not a very complicated process to understand however knowing what to do and applying it to your own life are two very different things. (Live off 70% of your income and invest the rest)
Many people travel down the path of working hard and climbing the career ladder and get seduced into expanding their lifestyle every time they get a promotion or a bonus. This then often leads to a vicious cycle of having to work harder to make more money and spending less time on the things that bring balance to your life. The less time people have outside of work the less attention they pay to controlling expenses and generating passive income. It’s ironic that most of the financial industry has a vested interest in preserving the status quo. They don’t want people to become educated because if they are people wouldn’t invest money in many of the funds people manage.
If there is one thing you take away from this article it is this. You can either be a sheep and follow the flock or a Shepard and be in control of your destiny. The path of the Shepard requires more effort and challenges but over time leads to a far more fulfilled life. It also means that you become 100% accountable for all financial decisions in your life. The only person who truly cares about your investments is you so become accountable.
Click on the links below for more information.
- Know your number (Track your income and expenses)
- Reduce personal debt
- Get your emergency fund in place
- Feed your mind – Read and get educated & build your team
- Build your freedom fund
- Develop your passive income stream & build you flywheel
- Protect your assets
After living in 3 countries and experiencing different financial systems, I found myself questioning things that a lot of people took for granted. My uncle, who was an international currency trader in London, reinforced this by sharing stories of how a few individuals where able to change the forces of governments-take them on and win. In the process I became an unintentional economist. Thus, I have an alternative view of financial forces and headwinds that affect people’s lives such as the power of debt for good and bad, the true risks associated with different types of investing, and how different people hack the system. To do well today most people need to overcome the financial headwinds they are burdened with. By applying this knowledge it has allowed me to gain time back in my life to spend it on things that create meaning not just the daily grind of trading time for money. I have a great desire to share what I have learned along the way, mentoring others and helping them find their path and devising creative ways to capitalize on various market and economic events. Nowadays, having fun, presenting at conferences on economics and other financial topics, and building a coalition of the willing to take on the world, is my passion; I hope you can join me on this journey.
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