Posts Tagged ‘Financial Freedom’
Much has been written and spoken about Financial Freedom. But tonight, I’m just mulling the term over as there are so many teachers who describe what financial freedom is all about. But do they have mastery over their lives, hence their lifestyles?
As usual in any argument, 2 sides of the fence combined yields the truth. All too often making money by the million is used as the draw by marketers as the ideal in achieving financial freedom. But is that realistic? Is it an expectation or a pipe dream to have a mansion, travel everywhere on the planet, a Lamborghini, a fantastic smiling family and a dog that can talk? Then expect the huge bills too. Will you ever be free of the money and material chase?
On the other hand, there are those who do very well and have everything they can ever ask for – the ocean views, fresh air, warm temperatures all year, fresh fruits and coconuts at the door-step, more than enough to eat, a boat slip and blue skies…They want for nothing and have nothing else. Yet, by any other measure, this guy’s all but broke. He appears already retired.
Who’s really free?
But then, who am I to say what all these things mean from both sides of the fence? Well, for one, I’ve lived on both sides of this invisible fence. It’s just a state of mind made real depending on what you want, need or expect to have.
Or maybe, the commodity of living free is now so rare that the wealth has shifted to the guy who wants nothing because there is nothing to have. But that is of course, Utopia – or is it?
Technorati Tags: Financial Freedom, Lifestyle, True Wealth
Tags: Financial Freedom, Lifestyle, True Wealth
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Financial Freedom to different people really means something different. Sort of like one person’s junk is another’s treasure – a very subjective meaning.
The various factors that influence our perception of what is really required depends in large part in where we live and what influences we have had. Also, our desires and wants often play a secondary role too. What it often boils down to in most places in the world is the monetary value, e.g. What is enough money for you may not be enough for me or vice versa.
But some of us may not need as much depending on the above arguments.
Take a look at the following interpretations and see which of the seven levels suit you.
1) Enough money to pay off every single red cent owed!
2) Enough income to buy a house, buy a new car every 2 years, send all my kids to college, take a holiday every six months.
3) Make more money than I know what to do with.
4) Make so much money I can give at least half to charity every year and still live debt free.
5) Have enough money to create my own dynasty where my kids and grandkids need never work.
6) Create the best technology to benefit mankind and live off its proceeds which I can then hand down to my descendants.
The above definitions are very often what you will likely hear and they are workable depending upon your desires, but be careful as some of them have cons you cannot live with. Wishes can be a 2 edged sword.
But this is my favourite for these modern times.
7) I can have any home in any country of my choosing, generate more income at will and get to keep it, my dynasty is well trained to be similarly independent, I live as well as I wish to, I am well respected and I help as many people as I wish to.
I hope I’ve whet your appetite and set you onto the path to create wealth, your wealth, your way.
Technorati Tags: 7 levels, Financial Freedom
Tags: 7 levels, Financial Freedom
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Sometimes, with vision we are just cents to financial freedom. Kadek, an old East Indian man sold Indian sweets at 5 cents a serving door to door in our neighbourhood. That was such a long time ago when pennies bought something.
Here’s a story of a man leaving his native country of India, trying to buy a life for his family all by himself as they eked out a living. This was survival for them. His family of 6 children would literally starve to death if more income was not found, hence coming to Singapore and trying his luck.
Well, this is how Kadek made his own luck. He carried on his head a table tray of the best sweet treats India has to offer and sold them to anyone that would stop and buy something from him. From dawn till dusk, he would cover over fifty kilometers a day every day of the week.
For the first few years, this vendor slept under any shelter he could find – an abandoned shack, a lean to or even under bridges. All was not peaceful for him, however, being beaten, robbed, abused, having dogs attack him and being arrested by the police for illegal vending. Almost unbelievably, he persevered.
One day a reporter decided to write his story offering him unexpected celebrity status. The plight of more people like him became more widely known and understood. But when asked why he continued, he merely quiped,” This is such a peaceful country and I have made more money than I have ever made before. I am thankful my children no longer starve in India and they go to school.”
Many years on, I chanced on meeting this now aged sojourner and bought a favourite treat from him. Brilliant white teeth flashed at me from that very dark face, remembering this now grown customer from the past. Inquiring how he was, Kadek declared quietly that he was retiring quickly and returning home to his wife. He had not seen his family in twenty two years! This sovereign journey was of joy and pride.
This great man had sacrificed his life to an uncertain future while buying his wife, and children a freedom they would not otherwise have had building wealth 5 cents at a time.
All his children had married, gone through school and found great jobs. They had bought their parents a house where he could now return to retire to for the rest of his days. Kadek had achieved his financial freedom at last.
Technorati Tags: 5 cents, Financial Freedom
Tags: 5 cents, Financial Freedom
Posted in Cents To Financial Freedom, Financial Freedom, Retiring Quickly, Sovereign Journey, Wealth Building | No Comments »
You desire success but do you have the fortitude to achieve the financial freedom you seek with the discipline necessary to get you there?
Take A Page From Their Book On Discipline
“…most likely reason why entrepreneurs have great success is because of their Discipline and not so much their business ideas.” A very profound and revealing observation.
Let me take this a little further and say that people in all manner or walks of life have that become successful have the same sets of life skills in Discipline.
Do you remember an aunt or grandma who seems to make ends meet even during the worst of times? Remember how they can stretch that dollar?
Remember when that scruffy street kid from the wrong part of town growing up to drive around in a Porsche?
How about the classmate that no one would date appearing in the 20 year class reunion in their Rolls Royce and everyone crowded around him or her?
Well, how did Donald Trump and Robert Kiyosaki create and develop such personas and to become the experts in their fields?
Most people would say “they were lucky” or “they had a great idea” or a bunch of other envious but useless reasons.
They have built their own financial freedom network – and then some. And really, for different reasons, they are the envy of vast legions.
Now, let me ask you.
Did you ever see what they had to endure to get where they are now?
Think about it for a moment. All three mavens above went through some of the toughest times of their lives to be where they are now.
They all had the discipline to see through anything they got their minds wrapped around.
They simply developed their ideas and got better and better as the years went by.
That my friend, is DISCIPLINE for Success.
Here are 2 resources for you:
1) Networking or not working – Donald Trump.
2) Become Buddies with your Bankers – Robert Kiyosaki.
Technorati Tags: Discipline Of Success, Financial Freedom
Tags: Discipline Of Success, Financial Freedom
Posted in Financial Freedom, Rich Dad And Poor Dad, success | No Comments »
“Dad, what was that you said you wanted to do for us.” It’s called achieving financial freedom. I said looking into this twinkling pair of eyes. He was seven (and a number of years ago) and getting very curious about many things including money and belongings (as in his toys).
Popping a marshmallow in his mouth, we continued our chat sitting cosily by the fireplace. You see, not too long ago, after you were born, I didn’t need to work too much if I didn’t want to. We had enough money to get what we needed. Daddy had worked for many years and made enough money, stashed away so that Daddy, Mummy and you do not have to worry about not having enough money. We would always have enough. That is what we could call financial freedom.
“You mean if I want that new Thomas Train Set I could have it?” That and good food, good schools good clothes, a roof over our heads. Things like that.
“But right now, we only rent and Mummy bought another house again. And why doesn’t Mummy want to live with us?” That’s the way things get to sometimes you know. Sometimes adults are like kids and the real kids have to go without many things. So that’s why I want to achieve that financial freedom again so that we can have all that stuff we want and need. “Including a house?” Yes…
“But Dad, how did you become financially err… freedom – free? You work in your own company now right?” Yes, and did you like the allowance when you do some little work for me? Well, it’s the same thing if you do it over and over again and then I get more people and more business. Within some years I can again make enough money if I’m careful to invest it properly, to achieve financial freedom again.
“Dad, I like being here with you. Mummy never talks to me like that when I visit her.” And another thing about financial freedom. The freedom part gives you time to do what you want if you wish for it.
“You mean I get to play with you more?” You already have your Dad most of the day, but yes, we’ll be doing more things together. It’s very important for a family to be doing more things together, like fishing.
“I love fishing. I get so many fish. Can I help you get financial freedom?” Well, you can wish for it with all your heart and be the best kid a Dad could ever have.
“Then I wish for it with all my heart that we achieve financial freedom.” Thank you baby. Now, it’s two more nights to Christmas. Time for bed buddy.
Technorati Tags: Achieving Financial Freedom, Financial Freedom, having enough money
Tags: Achieving Financial Freedom, Financial Freedom, having enough money
Posted in Achieving Financial Freedom, Entrepreneurship For Financial Freedom. | No Comments »
Advocates of financial freedom are quite clearly divided into 3 camps. In reality, only 1 works best.
1) Financial Freedom Slowly.
This is almost a strategy of a dollar at a time. The advantage is that you can start to save and earn interest without really being involved with many things in the world – if you can.
This strategy assumes you avoid the luxuries and inflationary pressures of this world and live in a place where you are immune to spiraling costs. Also this is a conservative, little risk program of income earning and assuming you do not lose your assets in a financial crash or recession.
It is supposed you save a penny or a dollar at a time and invest it over time – quite a mundane way of building wealth but it is theoretically possible, if really impractical in most cases.
You see, by the time most people get onto such a program, they really need to save by the hundreds of dollars weekly and make drastic cuts to their lifestyles. This then almost always defeats the purpose, though not impossible, of attaining your financial freedom.
2) Financial Freedom By Using Managed Funds.
This can be powerful in some cases over a long period of time where inflation is low and the asset purchase in the funds was at the correct time.
Of course, everyone has heard of the widow and orphan who saved and penny pinched all their lives to invest in blue chip stocks for 50 years and became millionaires. The problem here is of course, they are now retiring and really, are they able to enjoy this life now? And then there are those giant fund management companies that vanish.
Then there are the real statistics of underperforming fund managers who in reality are managing the funds on behalf of their businesses – not your retirement. The results over the last 30 years are quite unimpressive to say the least.
Then there is the freedom at 55 or some arbitrary number. Of course you can plan for a retirement or a goodly sum paid to you after 30 years and you can enjoy your life thereafter. But remember, $50,000 today may only be worth the value of $15,000 after inflation – barely enough to buy yourself a decent car. Also, do the math, you’d be better off investing that amount in a higher performing interest bearing account. It is wise to buy a life insurance for your family’s security, but get out of it once you no longer need it financially.
3) Financial Freedom – Plan It Yourself
This is the way to achieve financial freedom I adhere to. You will know what you need according to your life style and no one else should tell you. Remember, once you’ve done this for 5 years, you are almost assured that you have far more good quality experience than the one you’re talking to for advice at the bank.
But starting on such a program is most certainly quite scary at first. The very first thing you should do is to educate yourself. Learn what you can about what investment strikes your fancy – but be realistic and start where you feel COMPETENT enough in first. This where your education in that particular investment comes in handy.
Remember that education is the elimination of risk. Putting your money in something you do not know about and income that is less than expenditure is very high risk.
Always diversify all your investments as a strategy. This is your sovereign journey – how quickly do you want to get there? Divide them into:
a) Security like a life insurance,
b) A savings/bonds with a decent interest rate make sure it’s more than the inflationary and tax rate combined,
c) Higher income investments – only if you have good solid knowledge about it,
d) This is where you can really make it work for you. Educate yourself in a business or series of businesses for yourself and not for your boss. If you already have a job, make sure this works to replace and overcome your job before you leave it…
e) If you make enough and need the security of not having to be scrutinized to death and be at risk of losing it all to some form of lawsuit, set yourself up with a reputable offshore holdings.
TIP: Do it legally with a specialist competent offshore business lawyer or tax expert – do it all properly to avoid any inadvertant jail time or red flags.
Technorati Tags: Achieving Financial Freedom, Building Wealth, Financial Freedom, Freedom at 55, Millionaires, Offshore Holdings
Tags: Achieving Financial Freedom, Building Wealth, Financial Freedom, Freedom at 55, Millionaires, Offshore Holdings
Posted in Achieving Financial Freedom, Financial Freedom, Sovereign Journey | 1 Comment »
Clean out your financial clutter. I know, sounds like mum is right up your rear end with a big stick and it’s not even Spring. But it is at the end of the year.
Now, it’s such an important issue no matter if you use Feng Shui, make new year resolutions or believe in the lucky horseshoe.
Removing all the confusion and mismatched costs and unwanted subscriptions, interest payments, etc. you’ll stand to save a significant amount of money.
Cleaning out your clutter always makes you more prepared to face the next phase of your Financial Journey.
Call it your Sovereign Journey to Financial Freedom.
Technorati Tags: Financial Clutter, Financial Freedom, Sovereign Journey
Tags: Financial Clutter, Financial Freedom, Sovereign Journey
Posted in Financial Clutter, Financial Freedom, Sovereign Journey | 1 Comment »
People must wrap their minds of the concept of Financial Freedom in it’s proper context. This is about the Life Style you choose. Financial Freedom really is a Life Style.
Like This Beach Front Life Style In Thailand?
Sure you can be super wealthy and fly around in your private jet while your business is being handled by some management company. You can then avoid the stresses of running the day to day issues of that mighty wealth.
Otherwise, you may decide to be extremely hands on and make very sure everyone that works for you builds for you ever more assets and money. But then, you are not averse to that kind of stress. You probably revel in it.
Here, the wealth may be the same or similar, but the Life Style choice is vastly different.
But what if you are only moderately wealthy according to many standards and you still wish to achieve Financial Freedom? But the main problem is that you are approaching retirement.
There are ways to see you there. Sometimes, moving to a very low cost jurisdiction that have most of the amenities that you would expect for health and your personal welfare, modern financial centres, great schools, great modern transport and communications would be your cup of tea.
You see, I do know of people who have moved their entire lives out from the USA, Canada, UK and some other wealthy jurisdictions into countries like Panama (a tax free jurisdiction) or Thailand (a low tax jurisdiction) and actually get to live a very carefree life style.
Some would call that Financial Freedom, won’t you?
Technorati Tags: Financial Freedom, life style, Panama, Tax Free Jurisdiction, Wealthy
Tags: Financial Freedom, life style, Panama, Tax Free Jurisdiction, Wealthy
Posted in Financial Freedom, Lifestyle, Sovereign Journey | 1 Comment »
What is your top 7 people’s toys?
I have my own picks which are rather biased to my preferences. So, I’ve done a little research and with some banking friends have found some rather surprising ones. We picked the most popular 7 we could find.
Wealthy people sometimes develop a habit of buying the most expensive grownup toys as long as these are not for their own kids. They sound like Scrooge but really, they see it as their reward for whatever therapy they have set out for themselves. But just remember they have the financial freedom to do what they will. Maybe this is you after coming into an incredible amount of money.
Now, by intention, this article is meant to be politically incorrect.
After all, who would dare to splurge megabucks on frivolous things when there so many of us who can only buy a measly mini plastic toy for our own kids while we go without?
My list of the top 7 toys would propel most of the rest of us right up into seventh heaven, but it comes attached with the following 2 criteria.
1) They must have therapeutic value for the user – any other valuation is moot.
2) They must not have a good resale value – it’s a total waste of a financial investment (no stocks and no real estate).
Now that you know they will be using up great globs of money on frivolous decadence but shall we dive into my top 7 picks of cash-to-burn toys?
Super Fashion Statement Bugatti Veyron
1) Buy the biggest, baddest, fastest super sports car that strikes their fancy and load it up with the entire options list. Perhaps a Bugatti Veyron anyone? About $2,000,000 will be about right.
During a recession, any such purchase will simply see depreciation. It’s price will fall like a rock. This car can’t be properly used outside of a race track (useless in the city centres).
But it has that “special” egotistical feeling to be seen in it even if a race car chauffer needs to be hired.
2) How about a fur coat specially commissioned from an Haute Couture establishment and hand made to fit that special someone? I hear this can cost in excess of a quarter of a million dollars.
It will fit no one else, cost enough to buy a car and in these days, Greenpeace will tar and feather the wearer.
But it feels oh, so good and grandly cosseting!
3) How about a lovely Luvaglio from London? It’s a million dollars.
Not sure what this is? It’s a lovingly crafted, precious metal shelled, jewel encrusted electronic wonder with not widely available lab standard electronic systems laptop. It may not even be the fastest computer money can buy.
It sure looks fantastic, feels expensive, and is extremely exclusive!
4) The Guinness World Records certifies the GoldVish phone as the most expensive in the world– $1.45 million – made out of 18-carat white gold with 1,800 diamonds totaling 120 carats.
I’m not sure what the buyer will do with it after it goes out of style. It’s filled with the latest and greatest in cell phone technology but how many cell phones you know last more than 2 years?
It sure is a fantastic piece of jewelry especially when you find yourself underdressed for the occasion – just talk to someone using it at the cocktail party…
Fashion Staement? Swarovsky Crystal Encrusted Escada Jeans.
5) From fashion house Escada with Swarovski crystal-encrusted jeans sell for $10,000 a pair.
Don’t ever let your kids see it – you’ll either be branded a style challenged freak or they’ll bug you for a pair for the rest of your life. Worse, someone may simply “borrow” them just to show off to friends at school.
There’s something about roughing it in a good pair of jeans that is so satisfying. After all, that’s what jeans are made for. So what if it costs about a buck per thread? But this is an Escada.
6) A Loo for get this, $19,000,000 specially built to take with you when you go into orbit; literally.It’s a Russian specialty for the International Space Station – comes with straps so you won’t float away and miss, has it’s own vacuum to suck up what your body doesn’t want (there’s no water), and a privacy shield to match too. But I wonder what they do about the smell especially when air is so precious out in orbit.
Man, you can stink all the way to high heaven with this one. You have the right. You paid for it.
7) Got $20,000,000 for a visit to the International Space Station? The Russian Space Agency will gladly turn you into a cosmonaught for the world’s most expensive guided tour.
So far, 3 have made their round trips with more on the way. Of course, you might want to make your will up in case, well, there is nothing for anyone to bury. The dear civilian cosmonaught might want to leave a little DNA behind for reference…after all, this is non transferable.
But the thrill of a lifetime can be had, bordering on lunacy. Ok, so you’re going to be closer to the moon and probably feeling its effects more than us earthbound gawkers.
The International Space Station In Orbit.
Technorati Tags: Expensive Grownup Toys, Financial Freedom, Frivolous Decadence, Politically Incorrect, Wealthy People
Tags: Expensive Grownup Toys, Financial Freedom, Frivolous Decadence, Politically Incorrect, Wealthy People
Posted in Financial Freedom, Lifestyle, Sovereign Journey, Wealthy People’s Toys | 4 Comments »
Your lifestyle is largely yours to choose.
Of course circumstances can dictate your living conditions, but by and large, you can accept to stay the way you are, or create the new conditions that will change your lifestyle to the way it should be to your satisfaction.
Perhaps we should take a quick peek into the great wealth builders of the last 2 decades – the Chinese people.
The Luo Pan and Indispensible Feng Shui Chinese Compass.
Many very successful and wealthy personalities in the Far East have a very special wealth building weapon added to their arsenal of building true wealth. And that ladies and gentlemen seeking financial freedom, is their specially hired Feng Shui Master.
Bear in mind, many of these tycoons will never admit to having one by their side, on their payroll, because these people are precious and why would a great business person divulge his or her most valuable secrets?
In ancient times in China Feng Shui was developed as a living interpretation of harmony with the heavenly and earthly energies affecting mankind. As such, mankinds luck can be affected by such energies as time changes, days or nights, seasons, light or dark and the interchangeability of the energies of Yin and Yang. Understanding these energies, a Master can use the interpretations to predict earthly events like weather changes, possible earthquakes, and the viability of growing crops at certain times. The Tong Shu, possibly the book most in print on Earth records these interpretations on a daily basis as an annual calendar.
In the past, only the wealthy and nobility were privy to such knowledge, but today, everyone can know of at least the basics with the many Masters now coming out of the woodwork and making their “secrets” known.
To the Chinese, and indeed in the practice of Feng Shui, wealth is not just money, although money is a part of wealth. Things like family, wisdom, education, health, etc. all make up wealth. In modern times, this practice has been adapted to suit our crowded and busy lifestyles. Objects and paintings can take the place of real mountains and water features. The time energy calculations are very intricate but still adhere to the ancient principals. Each Feng Shui Master worth his salt can and will warn you of the dangers and help protect you with the proper activities and advice. Then they will offer you your wealth building directives.
Technorati Tags: Feng Shui, Financial Freedom, Lifestyle, Successful, Wealth Building
Tags: Feng Shui, Financial Freedom, Lifestyle, Successful, Wealth Building
Posted in Feng Shui Lifestyle, Financial Freedom, Lifestyle | 1 Comment »
