what are steps to take to achieve financial freedom?
my goal in life is to achieve financial freedom as soon as possible.
I never went to university though…do i need to go?
im 23years old right now
since highschool grad ive been just working to support myself and save some money on the side.
what i want to do is to invest or start a business
recently ive been doing some reading on how to invest and doing business..and such
but i have no previous experience.
any advice ?
I suggest that you go to the library and get some autobiographies of people who have gone from ‘rags to riches’.
I will tell you that it is not straightforward nor is it all down to luck either although luck does come into it. You could end up working 90 hours a week on a venture and end up not only loosing every thing but in debt too.
Finding a lucrative opening in any venture is also about being in the right place at the right time.
It is good that you have started to save a little. You do need education but there is no reason why you should not educate yourself by research and tapping into other peoples knowledge.
I can not tell you how you can get rich quick, other than buy a winning lottery ticket. Enter every free competition there is and apply to TV game shows, you could win something.
Just believe in yourself. Look out for what people want and find a way of supplying it.
As for investing. At 23, invest in yourself. 00
I suggest that you go to the library and get some autobiographies of people who have gone from ‘rags to riches’.
I will tell you that it is not straightforward nor is it all down to luck either although luck does come into it. You could end up working 90 hours a week on a venture and end up not only loosing every thing but in debt too.
Finding a lucrative opening in any venture is also about being in the right place at the right time.
It is good that you have started to save a little. You do need education but there is no reason why you should not educate yourself by research and tapping into other peoples knowledge.
I can not tell you how you can get rich quick, other than buy a winning lottery ticket. Enter every free competition there is and apply to TV game shows, you could win something.
Just believe in yourself. Look out for what people want and find a way of supplying it.
As for investing. At 23, invest in yourself. 00
January 31st, 2010 at 10:47 amReferences :
Suggestion. Read the Total Money Makeover by Dave Ramsey- the book has excellent advise and is the only money and investment book I know of written for people who are not already making good money or who are in debt. While I do not agree with all his investment ideas and assumptions the overall advice is the best I have ever read and his program works. I saw a huge turn around using his program.
He also has a program called Financial Peace University and he does program on how to run businesses debt free.
Congratulations on being so serious about your financial matters at such a young age - many of us took longer to get our houses in order.
All the best.
PS College education is not absolutely needed - the person in my extended family who makes the most never went - that said most of us find a college education an advantage and is absolutely needed for a professional career, unless you are going to be a entrepreneur. Even then business classes and accounting are absolutely needed.
January 31st, 2010 at 11:17 amReferences :
The first rule of financial freedom is to live below your means and to get out of debt. Never carry over a balance on a credit card. If you owe money on a credit card, cut the cards up and start paying the most amount in month payments that you can. You will never have financial freedom if you have a high credit card balance and pay just the minimum monthly payment…..if you are in that situation you are in serious financial bondage.
I’d suggest start watching people like Suzie Orman or Dave Ramsey on TV and take their advise.
Most of the young college grads that I know are in debt up to their eyebrows. Having a college degree is not any indication of personal financial smarts. While a college grad might have a higher average income, they will also have a higher average debt. There is little correlation between financial freedom and education.
January 31st, 2010 at 11:23 amReferences :
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January 31st, 2010 at 11:58 amReferences :