what does it take to reach financial freedom????
By badwes
@badwes (406)
United States
April 8, 2012 10:28pm CST
i tried alot of things , and ended up in starting network marketing !!! that is my way ... what is yours ?
3 responses
@SinfulRose (3527)
• Davao, Philippines
9 Apr 12
I'm starting, at least, by reading books that will nurture my best asset--my brain?
Yeah, I am still starting and conditioning myself to face head-on what will come next. So far what I got is a simple: "As long as your passive income is 2 times greater than your expenses, you can be financially free"--but I thought that it would be better if I can plan way ahead my financial status for three generations ahead. And I need to start now.
So since I am not allowed to go to actual work and become an employee to earn money, I am trying to work online. Yes, I even consider my earnings in Mylot as work because it's my active income, the same as the other sites I'm participating on. It might not be much compared to real bills in the real world but it sure beats the boring/tiring job one will have to do.
After the working, comes the planning. I plan to invest whatever it is I earn online on another legit site that will work without me needing to be active on it. As long as I check it out every once in a while, it'll grow on its own. And soon (maybe a year or two) I can at least earn twice my expenses. And I won't be stopping there.
@SinfulRose (3527)
• Davao, Philippines
10 Apr 12
I'm still at the first part where I have to get myself at least one asset. But yeah, I already have a certain plan to follow my dream. It's quite long to elaborate but to generalize it all, I need at least $20 to start. Then I just need time (1 to 2 years).
In other words, I'm investing the $20 but at the same time work, invest my income salary and re-invest the money from the first 20 along with the salary. (This is online so I don't think such a plan is applicable offline). While I have Php 5000 savings in my bank, I plan again to invest it to an organization. (It's a blessing I'm still a student or I won't be able to do this...)
After a year, my online investments would have grown to at least $1200. But if I can invest another $20 to another site that I've found, I can reach about $2,400.
My definition of financial freedom is being independent of the current system we have. We have the option to work when we can NOT work. To put it in Math, financial freedom (for me) is passive income times 2(or more) expenses. So if my expenses per month is Php 20,000, my passive income will have to be Php 40,000 or more.
Then I just need time (1 to 2 years).
In other words, I'm investing the $20 but at the same time work, invest my income salary and re-invest the money from the first 20 along with the salary. (This is online so I don't think such a plan is applicable offline). While I have Php 5000 savings in my bank, I plan again to invest it to an organization. (It's a blessing I'm still a student or I won't be able to do this...)
After a year, my online investments would have grown to at least $1200. But if I can invest another $20 to another site that I've found, I can reach about $2,400.
My definition of financial freedom is being independent of the current system we have. We have the option to work when we can NOT work. To put it in Math, financial freedom (for me) is passive income times 2(or more) expenses. So if my expenses per month is Php 20,000, my passive income will have to be Php 40,000 or more.1 person likes this
@SinfulRose (3527)
• Davao, Philippines
10 Apr 12
The plan I mentioned above is the first part of my plan. Not the whole of it. Expect that I will still be reinvesting those figures until I receive at least $55 everyday. But I think I will still try my best to make it bigger until I can finally have the goal of a stable financial status for 3 generations.
Have a nice day and Happy MyLotting!
1 person likes this
@AgentGulaman (3546)
• Philippines
9 Apr 12
I haven't tried network marketing, and I think that I am not good at that. Yes, I have a goal too of going after financial freedom. My first steps to it is to have a regular job and save a lot. Now, I am trying to accumulate money to gain access to different investment opportunities. I am currently trying my hand in different investment portfolios like mutual funds, equities, stock trading and exploring deposits. I am in investing mode now while still having a stable job to accumulate more money. After investments, I think I'll have to try other opportunities like real estate and businesses. However, I don't have a concrete plan for those at the moment yet. Good luck to both of us trying to get to financially free status!
1 person likes this
@badwes (406)
• United States
10 Apr 12
good luck to us :D , i'm a fan of forex , and have a deep respect for that science , it did make a huge leap in some people's lives , and ( ended the lives of some hehe ;)
it is njust that stock business has such high risk!!!
while NETWORK MARKETING HAS zero risk ( as long as you get a product ) following a plan that deals with (the power of duplication concept ! ) binary plans ,
NOT PONZIES SCHEMES AND PYRAMIDAL SCHEMS !!
there'r 2 books for a multi bilioner american auther Robert kyiosaki
rich dade poor dade & the business of the 21 st century
i recommend them :)
@suraj7nov (1736)
• India
9 Apr 12
i already done network marketing and i made good profit as well,but i donot enjoy that,so i leave that,so now i am concentrating on earning online.
@badwes (406)
• United States
10 Apr 12
what company did you join ? wasn't the plan effective ? or the training was not available ?? as i know one of the main advantages and main essential things in netwrk marketing , is FUN !! TO ENJOY IT , the only jb that you do with a smile on your face , otherwise . it is not going to work ..
@suraj7nov (1736)
• India
11 Apr 12
i am not enjoying it thats the reason i left that,now i am concentrating on earning online
