Have you every wondered why some people seem to have all the money while you are living paycheck to paycheck. Here at Smart Money Focus we will help you understand how to build wealth on your journey to financial freedom. I have been building my financial Independence for 20 years and I would like to help you build yours. I have made a lot of money mistakes along the way and by learning from what I have done you can avoid the same mistakes I have made.
The term financial freedom is relative to where you are at in your life. While most of us will never reach the status of Bill Gates or Warren Buffet, all of us can stop living paycheck to paycheck. That is achievable by following a plan and being tenacious about it. Nothing should stand in your way! Not a job loss, an illness or a large home repair. You will be in the position to face what lies ahead because you will be prepared.
I have been following 5 key paths and do not live paycheck to paycheck. I vacation when and where I want, buy vehicles for cash, own my home without a mortgage and have college funded for my three children. Following these paths you will achieve the same.
5 Paths to Wealth Creation and Financial Freedom
1) Maximize your Career
You invest a lot of time at your job and you should make sure that you are getting the most out of it, both financially and personally.
2) Save, Save, Save
Anyone with money will tell you that you can’t get rich without saving. The old adage “a penny saved is a penny earned” is true now more than ever.
3) Debt Free Living
You can never hope to become wealthy with large debt hanging over you. Don’t get me wrong financial leverage is a good thing if you know how to work with it and not against it.
4) Invest, Invest, Invest
One of the most sure-fire ways to gain wealth is to invest your money. Let your money work for you and grow over time. There are really no secrets here, compounding interest will make you money.
5) Create Multiple Streams of Income
If a company had only one customer they would not be in business very long. View yourself as a company and don’t rely on your employer as your only customer. Diversify your customer portfolio by having different ways to earn income.
That’s it! That is all there is. I will teach you how to build a plan under each “path” and if you follow the path I am sure you can gain wealth.