Financial Freedom Roadmap: The Final 2 Hidden Destinations Revealed – 5 Minute Formula

Financial Freedom is thought of as the coveted holy grail of financial well-being and rightly so. Who wouldn’t want to be in a position to exercise the choice of being financially free enough to never have to work again to earn money? Sounds good to me anyway!

Now, if I asked you to quickly write down on the back of a napkin how much money you’d figure you’d need to be totally financially free, it would be fascinating to see what number you’d come up with. It’s actually a pretty tough exercise for most people to do with any level of accuracy. Not to worry, help is at hand with this 5 minute formula!

In a previous article, we used this 5 minute formula to work out the exact sum of money you’d need to reach the first 3 destinations on the road to wealth creation 1. Financial Protection; 2. Financial Security and; 3. Financial Independence). Here we’re going work out exactly how much money you’d need to reach the final 2 destination: Financial Freedom and then just for the hell of it, Absolute Financial Freedom. Here goes, hang on to your hat!

1. Financial Freedom

You will have achieved it when you have accumulated a sufficient critical mass of capital to provide enough income for you to live the lifestyle you desire (accounting for inflation) without ever having to work again for the rest of your life. The keyword here is ‘desire’. This is what differentiates being financially free from being financially independent, which is defined more by what you ‘require’ to live reasonably comfortably.

In essence, this would include having and enjoying all the luxuries in life such as:

Second Home in the Sun ($700,000) – $3, 500/month
35 Foot Boat ($150,000) – $1,500/month
Mercedes Benz ($100,000) – $1,000/month
1 Luxury Holiday ($12,000)- $1,000/month
Harley Davidson ($20,000) – $400/month

The additional monthly unearned income needed for these luxuries comes to $7,400/month i.e. $88,800/annum. Therefore the total cost of being financially free is the $51, 600/annum figure needed to achieve Financial Independence (which we worked out in a previous article) PLUS an additional $88,800/annum = $140,400/annum

Again, using the benchmark of an annual 8% return on investment would mean you’d therefore need a critical mass of capital amounting to $1, 755,000 in order to be financially free. So, as you can see it’s a decent sum of money but I believe within the realms of possibility for anyone who sets about achieving it and re-thinking their approach to income generation and financial planning.

2. Absolute Financial Freedom

When you think absolute financial freedom, think total rock star lifestyle! You can pretty much remove any financial limitations and pick up your air guitar for this one!

You will have achieved this financial level when you can pretty much do whatever you want, with whomever you want, as much as you want – without ever having to worry about money or work again.

So, assuming we’d still like to keep everything we have/do from our list, we now add all the new dream capital items we’d love to have that are not in our previous list. For example:

35-Yacht ($500,000) – $5, 000/month
Ferrari Testarossa ($250,000) – $2, 500/month
Piper Cherokee 140 or Cesna 172 Private Plane ($30,000) -$3000/month
Own desert island ($7,000,000) – $14,000/month

Additional monthly unearned income needed for these dream luxury items comes to $21,800/month i.e. $261,600/annum. Therefore the total cost of absolute financial freedom is the $140, 400/annum needed to achieve Financial Freedom PLUS an additional $261,600/annum = $402,000/annum

Again, using an annual 8% return on investment would mean you’d need a critical mass of capital amounting to $5, 025,000. So, by today’s standards it’s a very significant sum of money/capital. In order to have built up this level of personal wealth, you most likely will have become a noteworthy business owner and quite a sophisticated investor i.e. you’ll be a total money master!

Conclusion

So, there you have it! Financial Freedom and Absolute Financial Freedom defined in terms of an absolute sum of money required each year. So, now you know EXACTLY what it’s gonna take for you to eventually quit working for money and finally have money working for you; to escape the daily grind and retire to Margaritaville…should you want to! Check out my other articles on Personal Finance, Business and Wealth Creation tips to help you reach the financial freedom finish line…fast!

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Achieve Financial Freedom Through Online Entrepreneurship

Is it possible to achieve financial freedom online? If you are interested to know if financial freedom online is possible then you have come to the right place. Here you will read some valuable information about the different options available for people who want to start online entrepreneurship and be successful with it.

What are you doing to reach your dream? Do you have a solid plan to set you free from the bondage of living paycheck to paycheck? If you find it hard answering these questions, then you should probably be doing some major analysis and evaluation of your financial situation and where you want to be in terms of money in the next few years. Financial freedom is a dream of many individuals but only a few has a real map in their hands on how to get there. This article hopes to provide some very important information for people who are looking to secure their future when it comes to financial matters.

In order to achieve financial freedom you must first be able to define what it is. For many, to achieve financial freedom means to have enough money to be able to do whatever it is that they want to do. To some, to achieve financial freedom means the ability to live a comfortable life without the need to work hard or for long hours. These definitions are both correct. But to know what financial freedom is and knowing how to get it are two different matters altogether. There are people who simply dream of wealth and yet there are those who work hard to achieve it.

People who want to achieve financial freedom should know that they have plenty of options to reach their goal. What they have to be aware of though is that keeping a job is not the best method to become rich. This is not to suggest that everyone reading this article should quit their jobs right at this very moment.

This article only wishes to convey the fact that majority of those who have become wealthy have achieved their state in life by creating passive sources of income. Passive income refers to money that is earned without exchanging time. If you are an employee, then you must realize that you are exchanging time for money. And as long as you are following this scheme it will really be difficult for you to achieve financial freedom.

A good source of passive income is business. The problem with putting up a business though, particularly the bricks and mortar type, is that it takes a considerable amount of capital to have one. And with a traditional business, you cannot expect to be profitable in the first few years or so. If you don’t have a significant amount of savings in the bank, then putting a traditional business is probably not for you.

The best option nowadays for people yearning to achieve financial freedom is to use the leveraging power of the Internet. An online business is much easier to establish than a traditional business and it definitely requires less capital. Indeed, the easiest way to achieve financial freedom nowadays is by becoming an online entrepreneur.

The Internet is a very powerful tool because of the fact that through it one can have the ability to reach millions of people easily, something that is very hard to do through offline means. Online entrepreneurship is on the rise as more and more people are discovering how easy and simple it is to establish an online business as compared with a bricks and mortar type of enterprise. There have been many people already who have achieved wealth by being an online entrepreneur and many more are set to follow their footsteps.

To achieve financial freedom through online entrepreneurship, one need not have extensive knowledge of the Internet and even computers. If you know how to operate a computer and how to surf the Internet (who doesn’t nowadays?) then you can already make money online. We even hear stories of teenagers making thousands of dollars on the Internet. That is how easy it is to establish an online business.

This is not to say though that the way to achieve financial freedom through online entrepreneurship is effortless. Like any worthwhile endeavor, an online business would require a significant investment on your part with regards to time and energy. Results online though are much easier to come by than results through offline businesses though so your efforts will quickly payoff.

You’ve probably heard of people earning a regular income on the Internet. Surely, you have come across Internet marketing gurus boasting about the millions of dollars that they have made on the Internet. Hype and clever marketing ploys aside, there really is a great opportunity to make money online.

Some people think that money making schemes online are all scams. While it is true that there are many individuals and companies that will promise you heaven and earth just to legally “steal” money from you. This does not mean though that there are no legitimate ways to make some serious cash on the Internet.

Forget about the so-called gurus and their penchant to brandish their affiliate checks and earnings ( be warned though that some of these show of wealth are tampered), there are thousands of people the world over who are quietly making thousands if not millions of dollars with an Internet-based business.

To achieve financial freedom online, what you need to know is that you have plenty of options and all of them are viable ways for you to become wealthy in due time. One of the methods to earn Internet millions is through a method known as affiliate marketing. This is a money making activity that has been around for several years already and it is a proven way to achieve financial freedom online. Others make this method their entry point in online entrepreneurship then move on to other methods of making money on the Internet.

Two very good online money making models are multi-level-marketing or MLM and network marketing. Both of these methods employ the capacity of the Internet to make networking and relationship building easy. These two are proven methods to make money offline but are now unleashing their powers in the online world and to great results.

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4 Tips To Reach Total Financial Freedom Sooner Than You Ever Dreamed!

STOP and picture what it would be like to have TOTAL Financial Freedom, or to be Rich or Wealthy and have FULL CONTROL over your life. Certainly financial freedom is something we are all striving for… right!?! I mean who wants to work for the rest of your life and have nothing to show for it?

…or… Who is happy living paycheck-to-paycheck and having someone else control how much money you can make?

…or… Who likes being told what time you have to wake up every morning, what you must do everyday, and what time you can go home in the evening?

…or… Who enjoys earning just enough to pay off your bills, but never having enough left over to build savings or even to ‘splurge’ on fun things like vacations or traveling?

…or… Who can care less about having enough money in your retirement ‘nest egg’ to enable you to enjoy your ‘well deserved time off’?

You see, you’d have to agree, I think the answer to each of these questions is the same, “DEFINITELY NOT ME!”

So what does it take for you to achieve TOTAL Financial and Time Freedom where you don’t have to work anymore and you don’t have to worry about how much money you are earning? And, is it even possible?

WAIT. Yes it is possible! There is a “Proven System for Financial Success and Getting Ahead” that wealthy people have followed for generations to build financial security and wealth.

If you’re still reading this article, then you’re interested in learning how YOU can set yourself free and gain control over your life, your financial destiny, and your future. I’m going to share some practical tips that can help you gain your freedom.

The main thing to understand before we get started is wealthy people DO NOT Work For Money… Instead, they have Money Working For Them! If you follow these 4 tips I reveal in this article, you’ll be able to reach financial freedom sooner than you ever dreamed.

1. You Must Change Your Values From ‘Poor’ to ‘RICH’!

To become wealthy, you have to think like the rich think. Adopt ‘rich values’ and have a positive attitude towards money. You deserve to be financially free and to have as much money as you need to live the life of your dreams. You need to get educated about how to create multiple streams of income for yourself.

Eliminate ‘poor values’ which is thinking like an employee or a small business owner.

Employees wait to be told what to do and they expect everyone to ‘take care of them’ (ie: their company, their boss, their union, the government, etc). Thinking like an employee keeps you very ‘weak’ minded and ‘needy’.

Small business owners very rarely become wealthy because they think they have to do it all by themselves. They believe, “If you want it done right… you got to do it yourself.” That’s why they start their small business so they can have some level of control and dignity over their life. Sadly, thinking this way has massive limitations for your financial growth potential.

LOOK! If you remember only one thing from this article, remember this…

The richest people in the world build networks… (ie: ‘TV networks’, ‘Telephone networks’, ‘Computer networks’, etc.) and everyone else looks for work. Money doesn’t make you rich — business skills do. You can always use business skills to make as much money as you need or want.

If you believe you need ‘job security’ or you need to ‘play it safe’ and don’t take risks, then you are falling prey to FEAR.

You will never become wealthy working for someone else because you cannot have Job Security and Financial Freedom… You must choose… which is more important to you?

If you desire financial freedom, then start by learning how to control your fear. Everyone of us has a ‘little coward’ inside of them and a ‘courageous person’. Gain control over your fear and don’t let the coward win – let the courageous person win!

LISTEN… Building A Business makes you rich. “If you want to be rich, MIND YOUR OWN BUSINESS!”

2. The #1 Asset A Person Can Build Is To… “Build A Business”

This IS the Secret! You are ready for total financial freedom… aren’t you? Well, you must build your own business in order to achieve it.

3 out of 4 American adults (over the age of 18) want to start their own business. Sadly, few ever do.

The Reasons: Most people can’t afford to invest 5-10 years for their business to become successful… Or they can’t afford the amount of money it takes to build a business.

Face it, the statistics are frightening… this fact is verified by the U.S. Small Business Administration (SBA):
50% of small businesses fail in their first year and…

95% of small businesses fail within their first 5 years.

Above all, people have a fear of failure and this is why most people don’t start a business for themselves. Instead, they go for “job security” and play it safe.

WAKE UP RIGHT NOW… “Job Security” is a JOKE!

You are well aware of the massive number of company layoffs that are happening today. Why would anyone commit so much of their time to working on something they have NO control over.

The truth of the matter is that you don’t own your JOB, it owns you. You’d have to agree that working a JOB (or a career) is like a form of slavery.

WHY?!?

You don’t have control over how much money you can earn, what time you have to wake up every morning, where you have to be each day, what you have to do while you are there, what time you can get off…

By knowing this information, you can learn how to regain control of your life, your time, and your paycheck.

Something else you should consider is how risky your retirement program really is.

If you believe that your 401K and your Mutual Funds are going to take care of you… you also probably believe in the Easter Bunny and the Tooth Fairy.

Please don’t get angry at me, someone sold you that bill of goods. Mutual Funds are not safe and not smart and you should never bet your financial future on the stock market.
They are extremely risky for your financial future.

Today, most importantly, you want to own your own business to get your dignity back and take back control of your own life.

WARNING: Don’t start a business that “owns” you either. This is a death trap too. If you are a sole-practitioner, you’ve basically created a business that controls you and not one that you control.

Remember, you are striving for TOTAL Financial and Time Freedom and if you have a small business that requires 110% of your time and energy, this is no better than having a JOB.

Let’s face another harsh reality… when you trade your time for a paycheck, you are nothing more than a ‘slave to the clock’ and you will never become wealthy.

3. Have Courage & Strength To Fight For Your Freedom.

By now you should begin to realize that this is a life or death battle in the fight for your personal financial and time FREEDOM.

It takes courage and it requires strength to win this fight. If you’re an employee you’ve given up your choices… someone tells you how much you make, when you go home, if you get downsized, etc.

You are fighting to be in control of your own choices.

Think about it this way, your boss or your supervisor is a bully telling you how to run your life.

And, the more security you “need”, the less freedom you have. I hate to be blunt, but if you are needy, you are weak. And if you’re weak, you won’t have the strength (nor courage) to win the fight for your freedom.

We already discussed how FEAR is the main reason why more people don’t start their own businesses.

I challenge you to get the courage to not care about what others think. To gain the mental and emotional toughness to withstand the world of ‘big business’. You must learn how to make the yourself stronger.

If you want to be successful today, you have to develop the mental, emotional, and core toughness and get the necessary education for running a ‘big business’.

You deserve your freedom, that’s what the American Dream is all about. Fight for your rights and stand up for yourself. Don’t let others decide your choices or your lifestyle for you.

4. Network Marketing is the “Perfect Business”

The first thing to do is choose a type of business. There are all kinds you can evaluate from franchises to home based businesses, and more.

However, many wealth experts and financial gurus agree that a “Direct Selling Business” (also known as: Network Marketing, MLM, or Multi-Level Marketing) Is “THE PERFECT BUSINESS”.

Although there are dozens of reasons why this is, I’ll briefly share the top 3 reasons why Network Marketing is the Perfect Business.

(A) Network Marketing offers a way for anyone to immediately get into BIG Business with very low start-up costs. In most cases for just a few hundred dollars, overnight anyone can legitimately “be in business”.

This is a brilliant way to get in with low cost and build a very big asset that can set you free. Network marketing gives the average person a fighting chance to take control of your life.

(B) Network Marketing gives you the CHANCE to build some self-confidence and get stronger.

Remember we said you need to increase your strength and courage to become tougher and stronger so you can take control of your life become financially free? Well, network marketing offers you that too.

It helps train you in the “real world of business” so you can learn how to fight for your freedom. You are in total control of your financial destiny.

(C) And finally, Network Marketing levels the playing field for everyone because you get paid for performance… not your educational degree, your family background, your race, or even your current situation.

It’s all about performance! You get paid on performance PERIOD. For example, nothing and no one is in control of how much you make. The more money you want to make, it’s up to you. Simply perform and you earnings are potentially unlimited.

Network Marketing offers all of this (plus much more). If you are part of a good network marketing company, they will do their very best to make you strong enough to withstand the rigors of big business so you can stand on your own 2 feet and grow your business (your asset) as large as you wish.

Bottom line… Network Marketing gives you back the control of your life, your choices, and your dignity – and that’s PRICELESS!

So I’m sure you’d agree that Network Marketing is the perfect business… for some people… check your heart soul & guts to see if it’s for you.

On the other hand, if you like people telling you how much you can earn and what time you have to report to work every day, then it’s not right for you.

I love sharing this kind of information with people who are dedicated taking control of their lives. They don’t want job security but instead want financial freedom.

My recommendation to you is that you “Demand your freedom so badly that you will do whatever it takes to get it. You must have a burning desire in your guts to want to have TOTAL FINANCIAL and Time FREEDOM!”

Also, remember to keep an open mind and give your freedom a chance. There are plenty of ways great Network Marketing companies that you can participate in that will help you achieve your goals.

In short please surround yourself with friends and family who want you to become rich and above all, adopt a positive attitude towards money… and get educated about how to grow your business.

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