"8 Ways To
Achieve Financial Freedom"
>NOTE: If
you'd like to master the art of
building self esteem and confidence to
create ultimate life success today - just
follow this link:
Secrets Of
Higher Self Esteem and More...
Most people are looking for the latest ideas to achieve financial
freedom. People want to better their lifestyles and they want to look
out for the future. They want to be able to spend more time with their
family and less time working. They want to be able to live the life of
their dreams but unfortunately, most people don't ever realise their
dreams in life, not because they don't want to, or because they are
lazy, but because they don't know how. Before I get on to the list of
the latest ideas to achieve financial freedom, let's first look at what
most people are doing in life today, yet are not likely to gain
financial freedom.
Ideas that just don't work:
1. Saving money
Yes, you can get wealthy and become financially free by saving money,
the truth is this method takes many, many years. Now, I am not saying
don't save money, in fact if you study successful people and
principles, you will see that one of the steps to wealth is in fact to
save money. What I am saying is that saving money on its own will not
likely be enough to gain financial independence. There are a couple of
reasons for this. Firstly, most people spend what they earn; they don't
have money left over every month to save. Secondly the rate of
inflation is usually higher than the interest rate banks give, so in
the end you are actually losing out. For this reason I would not
consider saving money as one of the latest Ideas to achieve financial
freedom.
2. Being an employee
The biggest problem with being an employee is that you trade time for
money, and we all only have 24 hours in a day (caught in the Rat Race).
There is a minute percentage of employees that actually earn enough
money that they can save/invest it quicker than they spend it. These
people however are not the average person. They are people with three
or four degrees and were always the 'A' student. These are the really
brainy guys. Also, another big problem with being an employee is that
you don't get paid your full worth, you can't get paid your full worth
because your company has to make a profit from you.
3. Self employed
Being self employed is better than being an employee because you don't
have a boss, and you are a little bit more in control of what you do
day in and day out. Again, however, the biggest problem with being self
employed is that you trade your time for money. If you don't work, you
don't get paid. The reason the above methods are not considered latest
Ideas to achieve financial freedom and unlikely to make you financially
free is because they all lack leverage.
Now let's look at some of the Latest Ideas to achieve financial freedom
that do work:
1. Start your own Business from ground level:
If you have a passion for a particular product or service, or if you
have identified an unfulfilled gap in the market, then potentially you
could start your own business. I say potentially because you would need
to do full due diligence before jumping straight in. Most multi-million
pound corporations were started by a single person with an idea, from
very humble beginnings in a garage or spare bedroom. Some examples of
such companies are Microsoft, Virgin, Dell and EBay to name but a few.
If you see an opportunity and you have faith and determination, you can
make it really, really big! So do you have the next of the latest ideas
to achieve financial freedom?
2. Network Marketing / MLM
Starting your own business from scratch can be very daunting and costly
if you have no previous experience running a business. This is where
network marketing is the perfect training ground. You buy into an
established 'system' for what is relatively very low start up costs and
you earn while you learn. Network marketing is not like being employed.
If you work your business, you can turn it into a million pound
organisation. Similarly, if you don't work at it, you will not succeed.
Network marketing is unfortunately one of the latest Ideas to achieve
financial freedom that people are very sceptical about; People dismiss
it as a pyramid scheme without understanding the difference.
3. Property Investment
Property investment isn't one of the latest ideas to achieve financial
freedom as it has been around for centuries, but in my opinion, is the
best medium to long term investment you can make. Statistically,
properties in the UK alone have increased by about 10% per year for the
last 80 years. Sure there have been periods where property prices have
slumped, but they always regain that loss, and always go up in value
over the long run.
4. Investing in Shares
There are a number of different shares you can buy, including
preference shares, bonds, and gilts but the most popular type is the
ordinary share. Ordinary shares simply represent ownership of a
company. So, when you buy shares, also known as equities or stocks, you
literally become a part-owner of that business. If, for example, a ABC
Plc has 100,000 shares worth £1 each and you buy
£1,000 of shares, you own 1% of the company. As a
shareholder you have a say in the company's affairs by voting at
company meetings and, of course, the ability to share in its fortunes.
If the company does well, the value of your investment should rise but
if it does badly, you could see your shares fall in value.
5. Self Development
Let's face it, the only way to get rich quick is to win the lottery,
inherit a fortune or rob a bank. The odds of winning the lottery are
practically impossible, not many people have rich grandparents, nor
does the prospect of jail appeal to average person. It is however
possible for each one of us to make millions upon millions every year,
but the truth is we don't know how. Your not going to find a book with
a readymade recipe for wealth that will make you wealthy after reading
it once, because if that book did exist, we would all be wealthy
wouldn't we. But what we do need to do is learn from the best. Learn
from people who have been there and done it already, and how we do that
is by surrounding ourselves with their presence, their knowledge and
their experiences and we do that in the form of books and audio
training. Self development is the most underrated of latest Ideas to
achieve financial freedom, yet probably the most important.
6. Clear Bad Debts
Firstly, we need to understand that there are 'good' debts and 'bad'
debts and we need to understand the difference between them. Not all
debts are 'bad'. Some debts can actually make you money. The richest
people in the world today have millions of dollars worth of debt,
because they understand leverage. If you have a mortgage for a
buy-to-let property and you have tenants paying off the mortgage, this
is a 'good' debt as it makes you money. You want to accumulate as much
'good' debt as you can. Examples of 'bad' debts are credit cards, car
payments, department store cards etc. You are generally paying a
fortune (anywhere up to 30%) for these debts and all it is doing is
restricting your monthly cash flow. Setup a system so you can pay these
debts off quicker, and be disciplined not to get into these debts
again. This does not mean you'll never have a fancy car or boat, but
what it does mean is that if you do your investing correctly, and build
your businesses, you will be able to buy that car cash.
7. Make Money Online
There are a number of ways you can make money online, working from home
and one such way is affiliate marketing. Affiliate marketing is
effectively promoting web business, and being rewarded for every
visitor, subscriber, customer, and/or sale provided for your efforts.
Another way to make money online is create your own web page. A web
page on its own won't make you money, but if you can create a website
that generates large volumes of traffic, you can make money by getting
companies to advertise on your site. Another way which has become very
popular with people working from home is through EBay. Some people
browse EBay all day, and find items that are undervalued. They buy
these items, and resell them again for a profit. Some people make or
distribute products through EBay, and they are making very, very good
money indeed.om
8. Create unique product / Service / Invention
Another way to make a lot of money is to invent an object or service
that will make people's lives easier, or that a lot of people will
want. Coming up with inventions is a lot harder that it sounds, but not
all inventions have to be complicated. While browsing the internet, I
came across a website that sells plastic wishbones. Yes, somebody has
come up with an idea to replicate turkey wishbones for Thanks Giving in
the States, the idea is that you buy a couple of them and everyone at
the table's wish can come true, not just one persons. The company is
now producing over 30 000 wishbones a year and at $3 each they are
making a fortune
By Michael Pound
From over £70,000 in debt to owning a private jet in less
than 10 years, Michael Pound is a Home Business Owner and Property
Investor who continues to inspire thousands of people on his journey to
Financial Freedom. Everybody deserves Financial Freedom. Click here to
learn how: www.Progress-to-Financial-Freedom.com
Enjoy
your life,
|
