How to achieve financial freedom?

thamrong

That is outstanding and a little bit bobby-dazzler. Muchas gracias:flower:

Spiritual Marketing! I am al little bit skeptic because we should not fall pray to some weighty words because carefully crafted jargon used by mordern business and lifestyle 'guru' can be as mesmerizing as the words of evangelical preachers.:bg::bg:

Agul

Actually I haven't read it...

Nowadays I'm more interested to find something spiritual which can be applied practically with concrete physical results.

manakautau

Originally posted by SONofODIN at 12-7-2007 04:50 PM
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 ac ...

Kalau rezeki dah secupak, masakan jadi segantang???????........the cliche......but to me mengapa tidak kita teruskan berusaha,,,,,,dan tidak mustahil secupak itu akan jadi segantang.............kesederhanaan dalam hidup tidak bermakna kita berhenti berusaha dari mencapai yg terbaik mungkin........   

hamizao

How far would I be if I say, as I understand it, financial freedom is like being free from financial constraints. Hence, if I love to travel there is always sufficient funds for it. If I were to go today, I know that my family would be well provided for....so I would go with a willing heart.

One thing though................money is a finite thing while desire may or may not be finite. So in order for financial freedom to really exist, the supply of money has to be >= desire. In otherwords, somehow desire need to be made finite. So you need to plan out your needs and desire so that you may work out how much fund you would need to achieve them. Eg. you nak round the world once a year ke, and have dinner out every week etc...etc...calculate the cost. Then look at your income from various sources and then come to a consensus on how to maintain the equation. Once that is achieved you would attain financial freedom?

[ Last edited by  hamizao at 5-8-2007 10:37 PM ]

thamrong

Financial Freedom. In philosophy this is a 'Paradox'. Two words co-exist yet opposite in meaning. How could one be free when one life  is slugged  with material ( financial) needs. Freedom carry universal meaning ( like nirvana or self-annihilation in Sufism) and here the word has been grossly  abused.

SONofODIN

Nirvana is free from the samsara or the material world.
Financial freedom is free from financial problems and at the same time to have more quality time.

Just different in objective. One is to free from material world and the other to attach to material world.

SONofODIN

Originally posted by hamizao at 5-8-2007 10:35 PM
How far would I be if I say, as I understand it, financial freedom is like being free from financial constraints. Hence, if I love to travel there is always sufficient funds for it. If I were to go today, I know that my family would be well provided for....so I would go with a willing heart.

One thing though................money is a finite thing while desire may or may not be finite. So in order for financial freedom to really exist, the supply of money has to be >= desire. In otherwords, somehow desire need to be made finite. So you need to plan out your needs and desire so that you may work out how much fund you would need to achieve them. Eg. you nak round the world once a year ke, and have dinner out every week etc...etc...calculate the cost. Then look at your income from various sources and then come to a consensus on how to maintain the equation. Once that is achieved you would attain financial freedom?

What you mentioned above is not financial freedom but financially sufficient. To achieve financial freedom, one has to create an income system to provide continuous flow of money into his bank account even he is on holiday or sleeping.
Financial planning is very important too. One must not spend more than what he earns.

thamrong

This is something I picked up from a friend called Wiki:

Financial freedom describes a well-planned lifestyle whereone no longer is required to work for income to cover their expenses.Contrary to popular belief, it does not require being free of debt,as a debt payment is just another expense. Typically, "FinancialFreedom" can be attained in one of two ways (or a combination of thetwo): 1. Enough passive investment income to cover one's expenses. 2. Alarge enough "nest egg" that can be liquidated over time to cover one'sexpenses.
Simply said, financial freedom is one point in life when you do not work for money anymore.
Loosely defined, "financial freedom" is also a marketing catch phrase commonly used by financial planners and popular financial advisors such as Suze Orman, author of The Nine Steps to Financial Freedom .

This is interesting!

The downside is, the phrase is also often employed in attempts at advance fee fraud. E-mail and snail-mailsolicitaions often promise "financial freedom" in return for a coupleof hours a week work, or in return for sharing one's bank accountinformation with the widow of the director of Nigeria's central bank,etc.

hamizao

Simply said, financial freedom is one point in life when you do not work for money anymore.
Loosely defined, "financial freedom" is also a marketing catch phrase commonly used by financial planners and popular financial advisors such as Suze Orman, author of The Nine Steps to Financial Freedom .

I am more in agreement with this...............I was indeed trying to bring in the financial planning factor into my earlier explanation of my understanding. Nonethe less at this point I might say an ascetic would be one who has attained financial freedom. He doesn't need money anymore.....so he is free from even thinking about it.

SONofODIN

This is interesting!

The downside is, the phrase is also often employed in attempts at advance fee fraud. E-mail and snail-mailsolicitaions often promise "financial freedom" in return for a coupleof hours a week work, or in return for sharing one's bank accountinformation with the widow of the director of Nigeria's central bank,etc.


This is conmen's financial freedom plan.

SONofODIN

Most of us work hard to get promoted, wishing for better salary. Some  go back to campus to get better qualifications to get better jobs and higher salary. Without them realising they are still in the rat race and life still gets tougher. Their bosses job is to make sure they get their pay checks, not to make them rich.

People who work the hardest physically end up earning the least. some work under the hot sun and some work from early morning until late nite. Don't they work hard? If they do, why aren't they earning a lot of money? Why have they not become rich?

We are in the so-called Information Age, where income is generated from knowledge not hard work.



This is taken from a book I bought yesterday. One of my wife's friends generates his income from knowlege (Information Age) and became a millionaire within a few years. He has bought a 1.5M bungalow. It seems that we have to stop working hard. We have to change our working strategy and mindset. Work smart not work hard.

hamizao

So, do you reckon that your wife's friend has achieved financial freedom? Perhaps only she would know how much of a slave she is of money.  Also when her taps leak and the loos don't flush, who does she call for help? Another thing, how do you measure a person's financial freedom? House? Cars? :cf:  

It is admirable of course she has been able to put her knowledge to her benefit. The point is everyone has knowledge of something .........Depending on their limitations some have to work harder to achieve  something. Just because someone seem to be succeeding in a certain way does not mean everyone should use the same method. Each method or strategy has it's challenges. Someone still need to mow my lawn and clear my dustbin. What would you say to that?

SONofODIN

Originally posted by hamizao at 12-8-2007 06:29 PM
So, do you reckon that your wife's friend has achieved financial freedom? Perhaps only she would know how much of a slave she is of money.  Also when her taps leak and the loos don't flush, who does she call for help? Another thing, how do you measure a person's financial freedom? House? Cars? :cf:  

It is admirable of course she has been able to put her knowledge to her benefit. The point is everyone has knowledge of something .........Depending on their limitations some have to work harder to achieve  something. Just because someone seem to be succeeding in a certain way does not mean everyone should use the same method. Each method or strategy has it's challenges. Someone still need to mow my lawn and clear my dustbin. What would you say to that?

Whether my wife's friend has achieved financial freedom or not, I do not really know. We are all slave to money, otherwise why bother to work hard. We can't measure financial freedom. When you have achieved it you will know.

Yes you are right. There are many methods/ ways to achieve financial success. There is nothing wrong if I use his method to achieve what I want. If it is workable, don't you think it is worth to try?

We can't expect everyone to be rich. The world will not be balanced. Somebody have to clean the street.
One more thing to achieve financial freedom, you need not have to be filthy rich.

SONofODIN

Some people have tried to run away from the problem by saying they are not interested in money but yet they are still working very hard. This is a denial of truth. We all work hard for money, but with the correct facts and good strategies we can make our money work for us, and not the other way round.

hamizao

Originally posted by SONofODIN at 12-8-2007 06:57 PM
Whether my wife's friend has achieved financial freedom or not, I do not really know. We are all slave to money, otherwise why bother to work hard. We can't measure financial freedom. When yo ...

Well................some people might do it because they  love what they are doing and believe in doing their fair bit .......an honest day's work you might say. Some obtain a lot of gratification just from that. That I would say is approaching towards financial freedom.

Having said that, I believe most of us are enslaved to money at varying degree. Money is an essential...............it  buys shelter, clothes, food and other necessities of present day living. If we barter trade then there is less dependent on money but alas the whole world economy is based on the money system. Unles you are an ascetic we shall forever not be totally free from money (need of).

chiKenliTeL

i read a lot. azizi ali - millionaire yg makan gaji i.e. pilot. donald trump.. senang je..

1. disiplin.
2. ukur baju pd badan sendirik.
3. prioritization (cum disiplin gak).

aku dah berjaya, btw!

noone

i think few thousand years ago people were financially free. Simply because there was no financial needs. The grew their own food, built their own house etc. If i go and live in a jungle (that is safe) and do that, would i be financially free?

Merdeka dari kewangan?

Agul

We make this chain, and we want to be free of it.

SONofODIN

Originally posted by noone at 23-8-2008 03:41 AM
i think few thousand years ago people were financially free. Simply because there was no financial needs. The grew their own food, built their own house etc. If i go and live in a jungle (that is ...

Not really, they were doing barter trade then. I think the Neanderthals had achieved financial freedom.