How to achieve financial freedom?

SONofODIN

Some people have money but no freedom. Some have freedom but no money.
What is financial freedom? Financial freedom is the ability to earn money while we are away for long holidays.
Our bank account continues to grow even when we are sleeping. We don't have to rely on fixed time to earn money.
This is FINANCIAL FREEDOM. Money works for you.

How to achieve this?

seribulan

Do things moderately. Be wise. Pray for it.

Agul

I don't think moderation is the key.

It's utterly irreponsible, and selfish. True, you can lower your standard of living. Yoo can cheat yourself here and there. You can provide less wholesome food to yourself, and your family. You can be less helpful to society. You can be less functioning member of society.牋Better still, go to somewhere secluded, high mountaintop and just live like a hermit.

You, limit yourself. You, are not free.

Freedom is doing the things that reasonates with you. You want it, you get it. You don't have to shortchange yourselves. It's not a state of wanting, of envy or lack. People who go for moderation frequently lie to themselves. They live miserably. They don't have enough. They are dead weight upon society. A burden to all. They blame all.

Financial freedom, you get into a store and you pick what you want. You never sees the need to check for the price. You want to take your family somewhere nice? You just go. Sees something nice that can make living better? Get it. don't compromise. Want to go for an expensive cruise? Talk to the captain. Live anywhere you like? Just buy the land, house, cabin, whatever.

Something good for your health, nutritious but expensive food and herbs? Get it.燦eed爏ome爁un.燝o爂et爄t.爓ant爐o爃elp爐hose爄n爊eed?燞elp爐hem.燦o爊eed爐o燾ount爏en...

hang19

i've read several books about financial freedom, one is called 'rich dad, poor dad'. from what i understand, to get the freedom you just have to involve yourself in any kind of investment. not just save your money in the bank. instead let the money work for you.

Agul

I don't vouch for Robert's credibility but he says that to be financially independent, you must not be balnced, you must be imbalanced. Then when you have lots of money, you can afford to be balanced.

hang19

Originally posted by Agul at 12-7-2007 11:48 PM
I don't vouch for Robert's credibility but he says that to be financially independent, you must not be balnced, you must be imbalanced. Then when you have lots of money, you can afford to be balanced.

hence the risk involve in investing your money (either high or low risk).

SONofODIN

Yes your are right. Moderation is a denial to truth. You can't have financial freedom if you live in moderation. Financial freedom is not about saving. Saving doesn't give you spending power. Financial freedom is about having regular income which enable us to save and spend at the same time. And most importantly we are able to do what we like and go any where we want.

SONofODIN

Originally posted by hang19 at 13-7-2007 12:42 AM


hence the risk involve in investing your money (either high or low risk).

Depends on your knowledge and skill in investments. If you strike it right you will make plenty of money.
You can make your money in any part of the world just by using a lap top.
There are many people who are doing it. Of course some had lost a lot of money.
All depends on your skill.

Like my brother he is good at forex trading. He is earning between USD1-2K at this moment. All he needs is a lap top.
I make use of his skill. He is trading for me as well. He has made USD400 for me in the 1st month. I do offshore investment, joining pool investments. The traders trade for me. The risk is there but is minimal. As long as there is no war we will be making money. So pray that US don't bomb Iran.

Robert Kiyosaki is good at option trading. You can make good money if you can learn this method.

my-alja

forget about lifestyle.....

seribulan

Originally posted by SONofODIN at 13-7-2007 07:01 AM
You can't have financial freedom if you live in moderation. Financial freedom is not about saving. Saving doesn't give you spending power. Financial freedom is about having regular income which enable us to save and spend at the same time. And most importantly we are able to do what we like and go any where we want.

Who's talking about saving? Moderation doesn't mean saving...My moderation means doing thing not in a thoughtful way...don't splurge...be ready for any contigency....

seribulan

Related article in the StarMag today....

http://thestar.com.my/news/story ... 53514&sec=yummy

Managing money wisely

Are you a money master or cashless clown?

BY RAJEN DEVADSON

FINANCIAL success hinges on three disciplines. One is making time your ally; the second is forcing your money to work for you; and the third, learning about financial planning.  

In our era of lengthening lifespans (and careers), almost anyone who is serious about becoming a student of personal finance can parlay his or her growing body of knowledge into enhanced financial health.

Given the importance of time in any compound interest calculation, the younger you are when you get serious about managing money correctly the better your ultimate financial destiny is likely to be.  

Making time your ally

Your number one asset is not your house, car or portfolio. It is your lifetime capacity for paid work.  

Bear that in mind as I invite you to join me in a thought experiment:

Let抯 imagine you抮e able to hop into a time machine, much like the one used in the three Back to the Future movies with Michael J. Fox. You travel two or three or perhaps four decades into the future to the day you retire. When you meet your older self, both you and you sit down and figure out how much active income was derived throughout your entire working career. Let抯 say it抯 RM3mil.  

Then ask the older you how much of that enormous lifetime income was spent wisely, how much was squandered unwisely, and how much was productively saved and invested to meet important financial goals and to build abiding multi-generational wealth.  

If everyone was given the magical opportunity to carry out such an experiment, the vast majority of us would end up sitting depressed, regretting lots of our spending choices.  

As most readers of the YUM.my section of The Star are young adults, time is on your side. Several decades stretch out ahead of you

Hakeme

berjimat...jngn boros berbelanja...beli mana yang perlu sahja.

generasi2

beli yang mana perlu..

krete rm600      for 9 years
rmh rm750        for 30 yaers
cr card rm500    lifetime
insurans rm200  10-15 years

total : rm2050

tak masuk bagi mak, blanja week n..makan minum...tol..

bila nak freedom nih!!!???
macam mana nak buat ekk...???

True-X

aku baru nak daftar ngan AKPK... nak selesaikan masalh aku..

SONofODIN

Originally posted by True-X at 18-7-2007 12:08 AM
aku baru nak daftar ngan AKPK... nak selesaikan masalh aku..

Apa tu AKPK?

generasi2

AKPK boleh selesaikan masalah ker

Agul

yelah, apa tu AKPK?

generasi2

tiada masalah yg xleh diselesaikan...
tapi akpk bukan penyelesai masalah bagi aku..
akpk stand for agensi kaunseling dan penyelesaian kewangan under bank negara malaysia...
ditubuhkan ni mungkin utk mengelakkan ramai sgt org muda bankrupt disebabkan kesilapan meguruskan kewangan (specially credit card). bayangkan klu gaji rm2k..credit kad ada 5..semua min pymt every month rm200...mana terlayan wooo..!!!! that's what happen lah..!! sebab tu wujud akpk... means penghutang akan byr tru akpk kpd bank..maksudnya let say utang semua credit card ada rm10k.. bayarlah ikut kemampuan dgn gaji rm2k(kete lagi rumah lagi).. katalah rm200 every month.. bila mau abis woo??!! then nama still black list!! cuma bank tak kejor dah..!!!then x leh buat credit dgn bank lain dah!!! musnahlah idup..!!!

setahu aku cam tu lah fungsi akpk nih...

wei_loon5063

If I do as other people did.. I earn, I save and I spend wisely...

I wont be as rich as other people...

and I wont be bankrupt......

look at the truth... how many Bill Gate are there?

Agul

You don't want to get super rich?

Think of how mch benefit you can bestow others...

My friend once said, "If I am as I am right now, I can live comfortably, lives below my means. I can help myself but benefit others too. True riches are when you do not just benefit yorself but you do directly or indirectly."