Financial freedom is the be all end all of most goals. Sure, money is great, as is stability, but financial freedom kind of gives you both. You are free to choose your work, your time, your place of business. With financial freedom, you will have the freedom to quit a job you hate, to leave a toxic work environment, to speak your mind to a bad boss. And the best way to get it, is by investing your money wisely.
Think about your career choice
The only way to build this freedom is to first get the money you need. The best, and safest, way to do this is through your own income. Getting loans from your friends, or from banks, means getting a lot of difficulty and lots of complications. That’s why making a good career choice is paramount.
Think about where you actually want to be in a five to ten years’ time. Think about how much money you can make in the long run, and is there a chance your salary can increase (and to which degree). Also, do you actually enjoy the work, or do you hate even waking up in the morning? No sense in spending fifteen years of your life torturing yourself. Also, what are the benefits of this career choice, do they allow for financial freedom? If you made a choice, know that it’s never too late to change. On the other hand, if you’re happy in your career, more power to you.
Retirement and benefit investments
Know this section depends on where you’re set up. It changes based on your government’s regulations and laws. But, know that one of the wiser investments you can do is set up a retirement fund. This can serve as your safety net, for obvious reasons. And while you can go all out and invest everything you have in some prospect, we advise against it.
Know that you should probably speak with a licensed financial advisor to help you out on this. Furthermore, do you have the option of having your employer match your retirement investments? If so, this is an excellent way where you can essentially retire very, very early. The same goes for benefits. Still, you will need to check with your local laws, but do remember this is a very real option. Some people actually invest all their time and energy to set up a system where they can retire as early as 40.
You have the standard investment options, like real estate, but people don’t really think of the alternative options. One of the things you can do is invest in various stocks. Another option is you putting your money in pink diamond portfolio, or any other diamond brokerage industry. Colored diamonds are facing a resurgence, and so best to strike while the iron is hot.
Some people invest in grain, or in new industries and patents. The point here is that you don’t need to limit yourself to the standard stuff. There is money to be made in these fringe industries, money that not many people focus on. In fact, most forget that such an option even exists. The problem here, of course, is just how well you educated on a topic are. That’s why getting a good portfolio and stockbroker can really help you out. Have a specialized company do it for you, as long as you thoroughly check their credentials.
Understand that when you buy a house or an apartment, that it should actually be part of giving you financial freedom. Keeping a lifelong mortgage on the thing will just take that freedom away from you. So, investing in real-estate is out of the question until you get 100% ownership of your own home.
But, if you can afford it, real estate is one of the best ways to invest. Its stable, its value actually increases over time (if taken care of) and it’s an asset you can turn into real cash any time you want. It’s also an investment that pays for itself if you decide to rent it out. We advise you hire a good real-estate broker when you decide to actually invest in this manner. While this may be one of the more expensive types of investing, it can also be one of the safest and most stable.
Financial freedom is the root and base of all other kinds of freedom. Financial freedom will give you control over your time, over your attitude, over your life. And step by step, one smart investment at a time, you can reach it. Just remember to always keep an open mind, to educate yourself, and to ask for advice if needed. Don’t limit your options, choose more than one investment if you have the means, and then just sit back and relax.