Pursue Dream, Achieve Financial Freedom
Most young people, when asked how close they are dreams or financial freedom, usually immediately take a deep breath. Maybe you too?
Unless you are very lucky at the beginning of life, hard work to that end is not an option. Sometimes it takes a long time. You might just get there when the kids grow up, mortgage home loan is paid off, and you can take off work. But the first step you should take today.
What is financial freedom?
Short answer: When you are saving enough to support you so that you can turn from hard work and stepped out of the office door without the slightest regret. Longer answer is somewhat more complex.
Do not Wait for Retirement
Most people achieve financial independence at retirement, with enough savings to spend days old without a monthly salary. You do not have to wait that long really.
Most people save for retirement. But if you want free finance before that time arrives, the approach should be different. Retirement planning associated with the money you withdraw later, at this point in time that is still far away. Financial Freedom with money that you can access as soon as possible. Or when you stop working.
Active and Passive Asset Assets
Some people stop working, then support themselves and their families by trading stocks and foreign currencies. They are not free money. Just changed jobs.
Shares and other investments, which need regular monitoring, called active access. Can give you the big returns, but also can bring in big losses.
Passive assets are assets that need a bit of handling. Renting property for example. You just need to take care on a regular basis. Sometimes also replace worn furniture.
Passive equity investment rather than an asset. Mutual funds otherwise.
When the passive assets provide you with steady income on a regular basis, which allows you to enjoy a lifestyle choice, that’s financial freedom.