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SafePaths™:
A roadmap for financial independence continued...
In 1997, I was already a millionaire.
I was a successful trading coach and I'd helped dozens of people take
over a million dollars out of the market. But I wasn't financially free.
I still had to 'work' for money every month. I had the same financial
problems I'd had 10 years ago, only those problems now had more zeros
behind them.
When I first understood the concept of financial freedom, I had expenses
of over $10,000 per month.
Luckily, I soon discovered that I wasn't $10,000 away from financial
freedom but instead it was more like $4,500 because I already had some
passive income (money working for me).
My monthly mortgage payment was just under $4,500, after discovering
this, my first thought was "wow, I could move to a condo and be
financially free." But financial independence is not about
lowering your standard of living. It's not about being a monk and living
in a monastery. It's not about becoming homeless.
It's about being financially independent without changing your
lifestyle.
When I started to think about this on a regular basis, many ideas started
jumping in my mind.
I refinanced my house and bought another piece of real estate
a condo. I did this in such a way that my mortgage was based on very
short-term interest rates and by doing this short-term financing, I
moved nearly $3,000 closer to financial freedom.
In addition, the condo brought in another $1,000 per month in passive
income. I also re-deployed some of my other assets so that they too,
were bringing in more passive income, and presto...I was financially
free. It really was that easy. Like I said, it took me six months and
some of my clients have been able to do it even quicker.
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