Monday, January 14, 2008

3 Powerful steps to financial freedom!

One of the most powerful concepts I have ever heard was having financial freedom. I am not talking about being rich, I am talking about being financial freedom which means being in control of your time as well of your money. Being rich is not bad but a lot times rich people such as entertainers or avid business owners spend very little time doing the things that makes life worth living. Unless business is your passion, like the famous Warren Buffet who is well in his 80's and still Berkshire Hathaway as a successful as a younger person. You can be rich and financially free too, but some people have little concern too no concern about becoming a billionaire . The human psyche doesn't respond to money, it responds to the emotions centered around it. Like enjoying a trip with a family or being in 5 star hotel relaxing. So You are wondering how can I achieve financial freedom ? Well I am going to name 3 principle everyone needs to know before achieving it. I call these the 3p's of financial freedom ,which will lead you to do a nirvana of finacial independence.

The first p is Passion everyone who seeks financial freedom has to have a passion in something that can result in making money. Well let me be more exact , passion isn't just something you like to do it encompasses emotions ( primary good ones)that will allow you to do what you love to do. One of my friends defines passion as something you can do everyday without money being an issue.So that means if you are really passionate about something money doesn't come to mind but just follows you ( That is controlling money not letting money control you).

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The Next p is Passive Income, this step is essential in building financial freedom. Passive Income is the ability to generate money without any effort being present. Passive income separates you from being another rich person who works all his life trying to obtain money , hates what he does and dies a meaningless life.Passive Income minus Expenses equals Financial freedom,this is the equation for Financial freedom. Notice how I didn't mention how much you earn but how much your money or people working earn for you.Time Ferriss who authored the 4-hr work week always talked about outsourcing your life because 20 percent of things you do account for as much as 80 percent of the results ( this is the 80/20 rule). Meaning most of the things you do aren't making you any money , you should pay somebody else to do those unproductive things and do more of the 20 percent that is making you money.T o get a better grasp of this principle go purchase 4hr work week.
Here is a list of the best possible ways to generate passive income;
Stock Dividends
a home based business
etf funds
real estate
purchasing a website from site point that already generates passive Income.

The final p is Persuasion which is the ability to get a desired response from someone.No this is not controlling somebody for purpose of something evil. You need persuasion since money doesn't move by itself but by people giving it to you. A good thing to learn is something call NLP which is Nero Linguistic programming not mind control ,but is the study of patterns that encourage certain responses from people. A good Patron of Nlp is Tony Robbins ,Tony Robbins became a millionaire at 19 years old and everything that he wanted in life he has obtained through these teachings, he also sets new goals. So to receive money you have to get people to give it to you if it be a loan or buying a helpful product from you.

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In summary you need passion, passive income and persuasion to gain financial freedom. Let me recommend one more book it called Multiple streams of Income by Robert Allen this book will cover more ways of making passive income and shows you ways that the highly successful use to generate income.


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