How to Plan Your Financial Future!
It is natural for all of us to desire financial freedom. Money is a felt need of humans. But achieving financial freedom means living a life without having to work for a living and yet money comes pouring in. It is letting money work for you instead of you working for your money.
But sadly, it is never easy unless you an heir to an unlimited wealth from your parents or a long lost relative. Most people start to get a hold of their own money when they work for somebody else and they earn a salary. If they are good savers, then they can already afford to set up their own business be their own boss. These are the self-employed ones and this seems to be the next better situation to be in.
Both being an employee and being self-employed are two of the left quadrants of the cash flow theory that Robert Kiyosaki detailed in his book entitled, Rich Dad, Poor Dad. The right quadrants are being an owner of a business system and being an investor. With the former, there are people doing the work for you although you have the money to make them do so. In the latter, you have enough money working for you.
It is in these right quadrants that you will be able to have financial freedom. So how do you go about being dependent on your next paycheck to being financially free?
Identify where you are right now so you can see and decide where you want to be. Not everyone can be in one of the right quadrants. But if you do, cross the bridge without turning back. Feed yourself the knowledge you need and always be aware of the risks so you can act accordingly.
If you are working, you can set aside part of your income so that you can eventually start your own business. You may want to manage your business and still continue working at the same time. Many people have actually done that. And if your business is already stable, you can already start investing and let your money work for you. That way, you can set your retirement date earlier than 60.
Remember, challenges are always on your way to financial freedom. Overcome them.