Do you know you can gain financial freedom even with the present economic climate?
Yes. It is possible to become wealthy right now.
Each year Men and women from different backgrounds lift themselves from poverty to financial freedom.
If average individuals can achieve wealth-you can, as well.
The only difference between you and a wealthy individual is -they have done things in a certain way; as a result, they have financial freedom.
Financial freedom is about doing things differently
Therefore, when you l start doing things in a certain way, just like wealthy individuals, it follows that you will certainly get rich.
Wouldn’t you be thinking, “ What exactly do the wealthy do in a certain way that I am not doing?
The answer is that there are certain things wealthy individuals do that help them gain financial freedom.
I will tell you what wealthy individuals do well to create wealth in a minute.
Before I, do, I want to ask you a few questions.
I want you to answer the following questions:
- Do you ever think… I’ll never become wealthy in my lifetime any time you read a book or attend a seminar on financial freedom?
- Do you feel angry anytime you read news articles about the top one percent of wealthy individuals (how they earn so much money and pay little taxes)?
- Do you think greedy bankers on Wall Street and politicians are directly responsible for your financial misfortune?
If you replied yes to these questions, you would likely believe getting wealthy is due to luck. Or winning the lottery.
If you think that your chances of becoming financial freedom come from outside, not from within you- then your chances of ever gaining financial freedom are slim.
Why do I think your chances are slim? Because you have a negative attitude towards wealth building.
You blame others for your not being able to get wealthy. However, if you reflect on your life- you’ll see that no one is to blame for your problems but YOU.
I am sorry if I sound harsh in my judgment of you.
The truth is that when you think others are to blame for your problems, you will never see the cause of your financial hardship.
If you blame others, you will never take responsibility for your actions.
This brings me to the first habit that the individuals who have achieved financial freedom have: They take responsibility for their actions.
Quit whining: achieving financial freedom is your responsibility
Individuals who attain financial freedom take responsibility for their actions.
They never blame others for their misfortune. When a person with a wealthy mindset makes mistakes, they don’t complain.
They see making mistakes as a learning point.
Just as the wealthy take liability for their actions, you must also develop the habit of taking responsibility for the results of your action.
You must stop blaming others for your financial troubles.
Stop blaming your misfortune on banks, credit card companies, politicians, and your employer.
Stop making excuses about achieving financial freedom
Remember this: nobody owes you anything.
Anytime you feel like blaming others for your problems, say the following:
“I am responsible for my life. If I want financial freedom and to break free from poverty, it’s up to me. No one will come to my rescue.”
By making this simple affirmation, you can eliminate negative emotions that block you on your journey to financial freedom.
As a result, you will think properly about devising a way to get yourself out of your financial rut.
Be a dreamer as well as an achiever: set goals to gain financial freedom
Once you have accepted responsibility for your economic fate, you now need to make plans to get to your destination.
This means you must have a deadline for your dream of becoming financially independent.
Setting goals is the trick to making your dreams of financial freedom come true.
To set goals, you must consider what you want your life to look like in the next ten years.
You need to understand the difference between setting goals and playing the lottery.
When you play the lottery, you are gambling.
When you set goals, you are creating a roadmap to realizing your dream of financial independence.
In other words setting goals means you have clarity about your intentions for financial freedom.
You see, success is not an accident. The road to wealth starts with taking deliberate actions to help you become wealthy.
Develop financially valued skills
Becoming a millionaire takes learning to accumulate wealth one dollar at a time.
Why is wealth amassed one dollar at a time? Because wealth accumulates slowly at first and then compounds over time until it grows into a fortune.
The trick to building wealth is to learn how to earn hundreds of dollars first, then thousands, until you become masterful at wealth building-that making millions, becomes easy.
The most important skill wealthy individuals develop to amass wealth is a financially valued skill.
A financially valued skill earns a six-figure income upwards and is in high demand, in any industry.
You can read about financially valued skills in my previous post.
People with financial freedom have money buckets.
The last thing you must do is learn the secret of keeping your wealth and growing it without fear.
The best way I can show, you how you can do this is to use a metaphor of three golden buckets.
I first heard about the secret of the golden bucket from my mentor Mark Ford.
Imagine you own a well where you fetch gold coins. When you fetch gold coins from this well, you can only store the gold coins in three buckets. The first bucket is for spending money only. The second one is for holding cash in case of emergencies. The last bucket is for investing and growing richer.
In essence, the secret of the three golden buckets is this-you need to manage your money correctly so that you owe less, save more and invest most of your money until you have financial freedom.
Just as you have three golden buckets in my metaphor, you need to put aside, a portion of every income you earn for expenses, savings, and investing.
Your spending bucket is the money you need to take care of your bills, and short-term and medium-term expenses.
The next bucket is your savings bucket. The money in the savings bucket is to take care of retirement, and emergencies.
The purpose of money in your saving bucket is for protection.
The investing bucket is the money you should use to invest. The primary purpose of money in your investing bucket is to grow wealthy.
The most crucial factor that will decide whether you will gain financial freedom is- how much money you accumulate in your investing bucket.
Most wealthy individuals understand the secret of the golden bucket.
The secret to accomplishing financial independence: is to earn above-average returns on your investment.
The money from your investing bucket is your net investible income. It is the single most crucial factor for becoming wealthy.
How do you grow your net investible income? The answer is easy. Save more and invest wisely.
Now, if you are considering … how to make the journey to financial freedom… you now have the road map
You have no excuse. Get ready, set. Go
