How to Make Money Grow – 7 Simple Steps to Absolute Financial Freedom
Money, like many aspects of life, is a game. Like any game, money, wealth creation and gaining financial freedom have rules. If you know the rules of the game, you can master the game and live the wealthy and fulfilling life that you want.
Here is how you can master the money game and give yourself absolute financial freedom.
There are 7 simple steps to financial freedom.
1. Make the Decision to Master Money
Commit to self discipline and mastery over your financial state. Make the decision to become an investor and not just a consumer. Commit a percentage of your income towards your own freedom fund.
Pay yourself and put the money aside and don’t touch it. Instead of just letting it sit there and go to waste, let the power of compounding grow your money. Commit to becoming smart with money.
The financial state that we live in, and the game of money is rigged. If you don’t know the rules of the game, the house will always win. Commit to understanding the rules of the game and win.
2. Become the Insider
Know the rules of the game before you actually get into the game. There are some myths to be aware of when you are in the process of obtaining financial freedom.
You should be aware of such myths as investment fees not being important, mutual funds can beat the market, that brokers are your friend, and that you have to take big risks to get big rewards.
3. Define the Price of Your Dreams
Be specific about how much money you want and the kind of income that you want.
Financial freedom and financial states are defined at 5 levels.
– Financial security is just getting by.
– Financial vitality is a slightly more wealth.
– Financial independence, which means you no longer have to work for anyone.
– Financial freedom, which is when you can cross off items on your bucket list and live the life of your dreams.
– And absolute financial freedom, where you can do whatever you want whenever you want.
How can you achieve absolute financial freedom?
To build this wealth and move up the financial levels, you have to become more valuable as a person. The more valuable you become the more money you will receive.
There are 5 money strategies that can accelerate your process and help you gain financial freedom.
1. Earn more money and invest the difference
2.Reduce the amount of fees and taxes that you have and invest the difference
3.Save more money and invest the difference
4. Maximize the return on your investments
4. Asset Allocation is the Key
Asset allocation is the key to having successful investments. This goes way beyond having a variety of stocks. it is more about owning a variety of non-related asset classes. Domestic and international stocks, real estate and annuities, bonds and so on.
5. Create a Lifetime Supply of Income
Imagine what it would be like to receive a check for life and this check can afford you the life you have always dreamed of.
Start by accumulating a mass amount of wealth by investing in low cost, tax advantaged and well allocated investment vehicles. Follow this by converting your wealth into annuities that pay you a consistent income every single month for life.
6. Invest like a Billionaire
To do this, follow these 4 basic principles.
1. Do not lose money.
2. Seek asymmetrical risk/reward (low risk/high reward) investments
3. Anticipate financial disasters
4. Never stop learning. Become hungry and motivated to consistently become better.
7. Live a Rich Life
Enjoy the abundant life of your dreams by pursuing the self satisfaction you deserve in every way. Treat yourself to what you desire and ensure that you contribute to other peoples success. Take care of yourself and those around you to guarantee yourself a life of abundance and financial freedom.
Have the goal to live a life of meaning and remember the secret to living is giving.