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Wednesday, June 2, 2021

Financial Independence Don't Depends On Your Boss


Everyone talks about financial independence as an entrepreneur's goal, is it yours too? If so, I invite you to stay and read me because I will teach you the keys to achieving financial independence in an easy way.

The benefit of what is also known as economic freedom is huge. You don't have to be rich to be happy, but you do have to be financially calm to be.

What is financial independence?

In simple words we can say that financial independence consists in that as an entrepreneur you can live comfortably with the resources generated by the investments that belong to you.

This, so that you do not have to dedicate all the time of your life or be afraid that someone will say You are fired, you are no longer with us ... and stop generating income.

In other words, we can say that independence in finances is reaching the point where the income from your investments is greater than your expenses, which is why it is not necessary to continue enslaved to a job.

How do I know if I have financial independence?

As we already said, when your income from investments, businesses, or payroll, exceed your expenses.

We can also tell you that you realize when you no longer feel obligated to be tied to a job in order to survive.

When money is no longer an issue, when purchasing the commodities and beyond is easy, we can start talking about financial independence.

It is important to say that independence occurs when you can purchase various products and services without risking the integrity of your resources, much less the business that supports you.

Since we could say that I live two months like a king. But it turns out that I have taken more than I should have from my business income. This sooner rather than later will lead to failure, bankruptcy.

How to seek financial independence?

There are thousands of tricks and gurus on the Internet. However, the answer is very simple.

These are the rules to ensure financial independence:

Invest your profits from your business or savings from your payroll.

Diversify your investments. From buying a small storage room to rent, investing in the stock market or investing in other businesses.

Establish a follow-up plan.

Be flexible. Your storage room that you rent may be empty for two months and other investments will do very well for you. Then times change and it is the opposite. Everything changes. It's about being flexible.

Have a mix of short-term, long-term investments, more risk and less risk.

Have a balance. You don't have to be a 100% professional investor and quit your job, but you don't have to work and invest nothing.

To be disciplined. Always try to PAY YOURS, and then invest that money.

Mindset to achieve financial independence

The factors to achieve financial independence are:

·         Eliminate dependency mentality

·         Take control

·         Eliminate past conceptions

·         Discipline

·         Eliminate pride, be practical

·         Eliminate dependency mentality

The first thing we have to do is stop being dependent. And there are certain types of dependency. There are those who depend on their job and salary and work hard, those who depend on a relative justifiably (they are a minor, are already retired ...) and those who depend on a relative for not wanting to work and earn a salary.

The first thing you have to do in case of the last two types is to stop depending. The dependency begins to be mental.

To stop being mentally dependent is to need third-party validation to venture to invest. That is one of the basic problems. You are probably here because you want to see information that validates that step you want to take. Don't worry, we are not going to give you the magic formula. Just tell you that this DOES exist and is to start today.

What is the easiest and least risky investment?

It reminds me of when people ask me about which ones are profitable businesses. Take 3 minutes and watch this video, it will open your eyes:

So if the most profitable business is the one you do because you like it and you dedicate time to it, the most profitable investments are those that you dedicate time to.

 

That said, your mentality has to be aimed at reading a lot of sources. From reading about real estate, reading about the stock market or reading about any other investment from crowd funding. Saving to invest and generate interest is a base type strategy to achieve some extra profitability. However, it is not enough, so you always have to learn. Be thirsty to tackle any investment topic and idea.

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