An incredible amount of research has been done and the number of books written on the road to financial freedom are too numerous to count. Many people are still struggling to make ends meet and monetary independence is only a dream for many in our current economy.
What exactly is financial freedom and what are the steps required to reach it?
A simple definition for financial freedom could be “having an income cash flow that will cover your living expenses beyond your expected life span.” In other words, calculate your total expenses, including all of you fixed expenses including your taxes dues, and your daily living expenses, etc., compounded for inflation over your expected life span, and compare that to your projected cash income over the same period. You can say you’ve achieved financial freedom if your income exceeds your expenses. More simply, if your income outweighs your liabilities over your expected life span, you’ve achieved financial freedom.
Can this really be achieved or is it all a pipe dream? The road to financial freedom is not a myth but a concrete reality and can be achieved through careful planning and execution.
Difficult times create opportunities for fortunes to be made. Many of you may see our current times as being difficult. In today’s environment, the internet and internet marketing opportunities have opened the door to creating wealth like no other time in history. This is so because they have made it possible to instantly communicate across the globe, expanding potential customers and clients to levels never before possible.
The evidence lies in the numerous millionaires and billionaires who’s fortunes have been quickly created in very recent history. These individuals are not super humans but merely people who followed a plan that put them onto the road to financial freedom. The steps they took are not secrets. They are calculated steps which many people fail to observe in the course of their daily lives.
Steps to Financial Freedom
What are these strategies that can put you on the road to financial freedom?
Here are 6 steps you can take:
* First of all, start increasing your personal worth by feeding your mind. Educate yourself daily. Invest in your personal knowledge by reading books written by those who have created wealth and those who have interviewed the wealthy. A couple of recommendations would be “Think and Grow Rich” by Napoleon Hill, and “The Business of the 21st Century” by Robert Kyosaki.
* Create a burning desire to be financially free. In order to get on the road to financial freedom, you must develop a burning desire to be there. I’m not talking about wishful thinking, but rather focused thought on a regular basis combined with emotionally charged visualization of what it feels like to be financially free. If you have a strong enough desire, your thoughts will lead you to ideas on how to reach your goal.
Many of the things we take for granted today would have been considered miracles not too long ago, and they all started with a single thought. If you strongly desire to be on the road to financial freedom then focus your thoughts in that direction and you can achieve it.
* The next step is to create a plan. Once you have created a strong enough desire and are generating thoughts and ideas, you will need to organize those ideas into a concrete plan. I’m sure you’ve heard the saying, “Failing to plan is planning to fail.” Well, there is a lot of validity to that saying. You must have a plan or risk failure.
Make your plan SMART – Specific, Measurable, Accountable, Realistic, and have a Time deadline. Put it in writing. An unwritten plan is just a wish. Putting it in writing is the first step to making it a solid reality, you actually make it physically real. Once your plans are written out, each time you view them will act a reminder to keep your thoughts focused on your goals.
* Once your plan is in writing, enlist the help of others. Recruit and organize a group of like-minded individuals to help you optimize your plan. Nothing is more powerful than the strength of a mastermind group. Create a team that can provide you with expert advice. Don’t rely on ideas from friends, family, or neighbors who have no experience in doing what you aspire to accomplish. Seek out people who have experience in the areas in which you are inexperienced.
* Next is the most important step of all – TAKE ACTION. Execute your plan. The best plan in the world is useless if you don’t do anything. Having a plan will only show you the road to financial freedom. Taking action is what will put you on that road. If you develop the discipline to stick to your plan, and take daily action toward your goals, then you will be on the road to financial freedom.
* Lastly, – Be Committed. You will face obstacles and bumps in the road. Expect them. Deal with them. Do not let yourself use those bump as excuses to give up. View them as stepping stones to success, learning experiences that will build your goal achieving strength. There will always be excuse for failure. Some people call them “reasons.” Ignore them. Push onward with no excuses.
There are many on-ramps to the Road to Financial Freedom out there. One of them is waiting for you. Which one will you choose to take?
Doug DeMercurio has been an entrepreneur since 1981. He is a chef, restaurateur, and internet marketer who believes in giving back by helping others. To find out how Doug can help you work from home, visit him today at Marketing Success Recipes. For more information on a fool-proof strategy to get on the road to financial freedom, just check out Road to Financial Freedom.
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