21 Ways to Financial Freedom
(By Guest Contributor David Campbell)
Here are 21 ways to compress the distance from where you are now to gaining financial freedom. I wrote this list specifically for my new friend Don M. but this is some pretty good timeless advice and tips for financial freedom I’d like to share with you.
1) Earn more / save more
2) Spend less – thus reducing the amount of passive income you need to become financially free
3) Start a business parallel to your W-2 so you can: earn – spend – tax rather than the w-2 trap of earn – tax – spend
4) Use leverage to create positive arbitrage
5) Leverage other people’s time / other people’s knowledge / other people’s relationships / other people’s money / other people’s deal flow
6) Be a market cycle investor – buy in a buyer’s market / sell in a seller’s market
7) Lower your income tax burden using Self-Directed IRAs / 1031 exchange / long term capital gains rather than ordinary income / HSAs / s-corp tax status to lower self-employment status
8) Be a lifelong learner – study how to become financially free at www.HassleFreeCashflowInvesting.com
9) Work with a financial mentor who has gained financial freedom
10) Invest and work for what the investment and the job will teach you
11) Invest in relationships
12) Getting rich slow is better than trying to get rich quick and never getting there
13) There will never be a perfect time to launch – take action then make course corrections as you go
14) Embrace failure as an opportunity to grow
15) Write down your long-term goals and your daily to do lists regarding gaining financial freedom
16) Write down your compelling “why”
17) Schedule your day and your life – live life by design
18) Use your time in your vehicle for studying audio programs
19) Protect yourself from negative people and negative environments
20) Include your spouse in your financial education and goal setting and dream building
21) Get around people who think radically different than you – spending time with “like minded” people is a recipe for producing results you already have – you will become the sum of the people you associate with
These tips for financial freedom can help start you out on the right path in your financial journey, and each person’s path is going to look slightly different. Take some time to determine which of these 21 ways to financial freedom will work best for you.
Thanks to David Campbell for the great post. You can reach him at david@hasslefreecashflowinvesting.com
