“Financial freedom is available to those who learn about it and work for it.”
– Robert Kiyosaki
I was able to leave my $200,000 per year job with complete financial freedom.
That means I got my investment income to cover my living expenses
The question is: Can anyone do this?
Absolutely!
There are exceptions, of course.
But as a general rule, I think almost anyone can achieve total financial freedom.
However, not everyone will do it.
Not many want to put in the work it takes to learn.
Becoming financially free requires a lot of growing pains.
You have to try a lot of new things to find what works for you, and even then, there’s a chance of failure.
In order to learn, you need to be willing to fail.
That’s one thing I’ve learned about financial independence:
It takes effort.
You’ll have losses.
Some things won’t go in your favor.
You need to spend time researching and learning how to improve.
Sometimes, that requires sacrificing things like your social life.
It’s a pay now, play later approach.
Even then, not everything will go well.
We’ve made money and we’ve lost money.
What’s important is that you realize you can do it.
People achieve financial freedom all the time.
Today, we’re going over three easy steps to help you do it, too.
Let’s jump in!
1. Defining Financial Independence
Independence means freedom of choice.
You can figure out what you want to do with your life.
When we say financial freedom, a lot of times it really means time freedom.
You can make more money, but you can’t make more time.
Having financial freedom is a way to do that.
Think about how you really want to spend your time.
What can you do to achieve that?
How can you pay now to play later?
After I achieved financial freedom, I started paying a lot of money to take care of specific problems.
I would rather enjoy my life and not have smaller things take up my time.
But this might not be how you spend your financial freedom.
It looks different for everyone!
You’ll need to figure out your specific goals and how they can buy your time back.
2. Barrier to Entry
The barrier to entry for learning about financial freedom and passive investing is resources.
Sometimes, people don’t have access to the right tools.
There’s a theory out there that says that you either come from money or you don’t.
Studies have concluded that inheritance does impact factors like personal wealth distribution.1
But, in theory, anyone can grow their own wealth!
According to a 2019 study by Fidelity Investments, 79% of millionaires are self-made.2
They didn’t grow up with a silver spoon in their mouth.
That does happen, but it’s more of the exception rather than the rule.
Personally, I didn’t come from money.
I came from a very middle-class home.
Both my parents were teachers.
I didn’t have a lot of knowledge about money.
Instead, I had to learn that myself.
A lot of this comes down to mindset.
Breakthroughs can happen very quickly.
I’ve seen networks grow by 10 or even 20 within a few years.
That’s even happened in my life!
It can happen for you as well as long as you change your mindset.
A great book to help you start is called Breaking the Habit of Being Yourself by Joe Dispenza.
He talks about how we get stuck in negative patterns.
We think we’re a certain kind of person and don’t want to change.
But when you open yourself up to change, anything becomes possible.
You also realize we’re all more similar than we are different.
If we learn from each other and put those methods into practice, there’s no reason why we can’t achieve similar results.
3. Strategies for Success
What are the strategies for success?
You should start with small things.
Go to meetups.
Invest in a single deal.
I’ve spoken with over 2,500 high net worth investors.
A lot of times, their journey began with just one deal.
Put $50,000 into a deal.
It’ll either go very well or not-so-well.
Whatever happens, you’ll learn something.
That knowledge is the true value.
Consistent investment experience is worth more than almost any other learning strategy.
Then, you can look for cash flow streams.
When I was on my own financial freedom journey, I realized I didn’t need a million dollars a year.
I only needed around $6,000 a month of investment income.
That amount would allow me to grow my wealth over time.
But before all of that, you should invest in yourself.
Start learning.
Start investing
Start now.
Everything is learning.
Give yourself a chance to learn and start your journey today!
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Disclaimer: I am not your investment advisor. This is for educational purposes only. I am not giving specific advice on what you can do. I am simply giving my opinions.
Works Cited
1. J. Davies and A. Shorrocks. “The distribution of wealth.” Handbook of Income Distribution, 1 (2000): 605-675. https://doi.org/10.1016/S1574-0056(00)80014-7.
2. “79% of Millionaires Are Self-Made – Lessons from Those Who Built Wealth without Inheritance.” Yahoo! Finance, May 8, 2023. https://finance.yahoo.com/news/79-millionaires-self-made-lessons-160025947.html.
