The different between average people and man with a vision is that average commons to working to someone or a company, while the successful man own that company. The company is his asset.Now that guy can relax at home while his worker run the business.
So, it's all about assets to achieve financial freedom
The 7 Keys to Financial Freedom
To gain financial freedom, you need a financial plan to keep you focused. Financial freedom comes from creating a nest egg of assets that can support your lifestyle with passive income.
There are 6 key steps to Financial Freedom :
1. Set your goals
Determine your goals before your first step. Because the other steps will lead you to reach the goals
2. Pay your self first
3. Utilise compound interest
4. Protect your assets
Your ability to earn an income is your most important asset. This is a vital part of financial planning and wealth creation to achieve financial freedom
5. Asset Allocation/Diversification
Dont put your eggs in one basket, because if the basket drop, you lose your eggs.
You can build your asset at the internet or join MLM company or join Google AdSense :)
6. Leverage or Gearing
You can leverage an asset, such as a house, shares, investments or income. Leverage is where you take on extra risk and borrow against the asset to purchase a higher priced asset. Leveraging your income is where you borrow money to make investments and use the excess income to pay off the debt. Leverage can increase your wealth exponentially in a favourable market, or increase your losses dramatically in unfavourable times
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