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.

< Back to main SafePaths page

 

 
 

 
Van Tharp Institute
IITM, Inc.
©2004 All rights reserved
Van Tharp Institute
519 Keisler Drive Suite 204, Cary NC 27511 USA
Tel: 919-852-3994 . . . FAX: 919-852-3942
Toll Free: 800-385-IITM (4486) . . . Email: info@iitm.com