Until your passive income exceeds your living expenses, you are not free! Until you are free you cannot pursue your dreams!
Statistics show that in some of the enlightened countries around the world, only 1 in 100 ever become financially free. Reality is freedom is never given, it is demanded. Freedom does not just happen, it is a function of deliberate effort.
It involves enrolling into a process, it involves active participation, discipline and accountability. If you truly desire to achieve your life purpose and dreams, if you want to become financially free,then, there are a lot of basic thoughts that need to change. The truth also is that you cannot do it on your own, you need to acquire the “know – how”, hands on experience and ” learn by doing”, You may need to adopt a coach, or submit yourself to mentorship.
Here are a few tips that are working for me, and I have no doubts will work for you as well.
Money is discipline. It’s not how much comes into your hand at once that matters, it’s how much you discipline yourself to put away from yourself that counts. Develop money discipline. Break Parkinson’s law, ensure your expenses don’t rise up to meet your income. To spend is human, to save is divine!…….What you save is not safe until you put them where you cannot have access to them at short notice.
We all exist in the 21st century, in this time, cash is no longer king, knowledge is, you need to take responsibility for where you are in life, so that you will be responsibility for where you will be in future, whoever you hold responsible for your past is who hold the rope for your future!
Open an Escrow account with your partner, and get a 3rd party coach or mentor to hold all the keys to the account. This way no money leaves the account without the alignment of the 3.
Form basic rules that allows you to see the money in the escrow as future funds, plan to run this for 10yrs without making alterations. Define basic rules for the types of investments you can engage these funds in. Here again you need an experienced mentor or a coach.
Set a goal to generate at least 5 streams of passive income. Set a goal to play in the 5 vehicles for creating sustainable wealth – Real Estate, Paper Investments, Automated Businesses, Intellectual Property and Network Marketing.
Have a regularly sequenced meeting with great minds to measure and track progress, and gain speed and insight . Better if meeting involves couples. Keep your balance sheet and update it monthly.
Use the power of leverage, tackle challenges and investments as a group, this makes the process faster.
This list is just a few out of the thoughts that need to change. I am committed to help you walk this journey. Don’t do as I say, do as I do, enroll for the process, take action now.