Financial freedom plan

Attaining Financial Freedom, Becoming Financially Fit - The, Irrefutable Exercise No. 5 - You Ignore At Your Own Risk

Even Though None Of The Earlier Irrefutable Exercises[Emotional/ Mental / Physical/Social] Are Lesser Important Than Any Other – Week Financial Health Will Affect All Aspect Of Life Drastically.

Attaining Financial Freedom Can Only Be Achieved By Sticking To A Disciplined Regime & By Adhering To The Basic Laws Of Nature & Finance/Wealth + By Practicing What People Who Have Achieved Financial Abundance [Learn What They Do To Maintain & Create Profusion In Their Life].

Financial Abundance Will Not Happen Overnight – It May Take Many Years Of Right Action, Correct Decision, Making Mistakes & Learning From These, Pro-Active Learning & Spending Focused Time On Improving Your Finances.

We Will Take All These One By One

1. The Mind Set => If You Do Not Have The Appropriate Mind Set –If You Happen To Come Across Large Amount Of Money– It Will Go Out of Your Hand Fast.
A. You Might Have Earned It Yourself Legitimately - Through Your Expertise/Skills, Other Than Financial
B. You Have Received Inheritance/Won Money in Gambling/ Bought a Wining Lottery Ticket /Selling Ancestral Properties Etc.
C. Or By Any Negative Means[Cheating/Scams And Like]

• One Example Comes To My Mind If I Can Recall It Correctly => A 5 Times Wimbledon Champion – Who had Bought An Island => Was Bankrupt Within Few Years After Quitting The Game - There Are Many Such Examples Of People Who Earned The Wealth By Right Means But Could Retain It [Category A].
• I Know Of Many People In Hundreds Of Thousands Who Sold Their Land At A Very Significant Value Which Was Quite Big – But They Are On Dole Now[Category B].
• I have also Read About Few Scamsters – Who Either Ran Out Of Money Or Could Not Utilized[Category C].
  

A Few Beliefs/Habits That Does Not Let Us Become Wealthy

a)You Feel Jealous Of People Who Are More Successful Or Have More Than You & You Wish Them Bad Internally Or Externally

b)You Operate Out Of Scarcity Mind Set – Always Crying About What You Do Not Have

c)You May Feel That Money Is The Cause Of All Evils

d)Lacks Confidence In Your Ability To Generate Wealth/Earn Money

e)You Think That You Do Not Need Any Improvement/Development In Your Skills/Attitude/Knowledge & Are Reluctant To Invest Time For Advancing Self

f)You May Blame All Your Failures To Lack Of Money

g)You Fault Your Destiny For Your Condition

h)You May Have Ego To Seek Help From Others

i)You Mind is Always Occupied With The Past – Instead Of Taking Action To Correct & Making it Better.

j)There Are Many More Such Beliefs/Perception/Point Of View, Which does Not Make Us Think Or Act Correctly – You Can Identify Some For Yourself

k)You Do Not Take Personal Ownership For Becoming Wealthy – Like You May Not Spend Time & Rather Take Help Of Advisers – When It Comes To Investment + You Do Not Review Your Savings & Investments Regularly As You Feel You Are Too Busy With Life.

l)May Have The Belief That It Is Too Late To Do Anything About It – You May Have Heard Of People Who Were Not Wealthy By Any Standards At Even Say 60 Years Of Age & Few Of Them Became Bankrupt At That Age. But They Recreated Their Wealth – Starting From The Scratch Again.

2. Making Your Mind Conducive To Create, Receive & Retain Wealth

I.Start Charity – Helping Others Who Are Underprivileged Than Yourself => By Kind Or Cash – Your Focus Has To Genuinely Create Positive Difference In These People's Lives. This Is One Of The Most Important One As It Helps You To Create An Abundance Mindset.

II.Start Genuinely Feel Happy About Other's Succeeds & Wealth

III.Show Real Interests In These People To Get Connected With Them & Find Out What They Did Or Do To Have That – Most Of The People Who Are Successful Are & Success Mindset Are Always Eager To Share & Help Other Attain Success

IV.Share Your Knowledge, Skills, Expertise – Whenever You Can, Wherever You Can & However You Can – Without Expecting Anything Back

V.When You Have Done IV For A Reasonable Period Of Time, Regularly Then You Will Experience The Basic Law Of Creating Wealth – Other People's Time + Other People's Effort & Sometimes Other People's Money – Start Showing Results For Your Wealth Creation

VI.Identify How You Can Add Significant Positive Value To Everyone – You Come Across & Do It

VII.Please Start Believing That You Are Going To Create Financial Freedom & That You Are Willing Do, Learn Whatever It May Take

VIII.Believe That You Will Be Creating Abundance In Your Life, Which Will Take Some Take – You Will Focus On Only Taking Actions

IX.Create Belief That You Have The Capacity To Be Wealthy

3. Some Actions Which Will Generate Wealth

a)Making Goals & Identifying What Is The SMART Definition For You Of Your Financial Freedom

b)Identify What Is The Realistic Time For You To Reach Towards Your Goal

c)Clarify – Whether Your Current The Job/Business/Profession Has The Capacity To Build Whatever You Financial Goals Are & Within Your Time Line

d)Identify What You Can Do Totally Differently Now + What You Can Do Additionally While Continuing To Do Whatever You Are Doing

e)What Skills/Knowledge/Attitude You Have To Acquire In Order To Add Momentum To Your Wealth Goals

f)Work Back Wards From Your Big Picture Till You Have Broken Them Down To Everyday/Weekly/Monthly Action Steps => Which If Executed Correctly Will Lead You Towards Your Goals

g)Start Implementing These & Celebrate The Success Of Achieving Every Mile Stone

h)Please Remember That – While You Are Doing All Above "A" To "G" Steps => You May Not Achieve Much Success - If You Are Always Under Stress & It Is a Continuous Back Breaking Effort.

i)Yes You Will Have To Burn That Proverbial Mid Night Oil – But It Has To Be For Few Months – Later The Point "V" Has To Start Giving You Huge Dividends In Your Efforts.

j)The Key To Making Wealth Is Enjoying The Journey, Relishing The Process, Cherishing The Actions/Thoughts With Your People

But Your Goal Should Be Only On Actions & Not On The Amount[The Wealth Creation Is A Consequence Of Taking Correct Actions & Decisions & Re-Correcting & Reviewing On Continuous Basis – The End Result Should Not Be The Focus Once You Have Decided On A Big Picture & Have Broken It Down To The Daily Action Elements].

3. The Reforms Needed In You [For You To Embark On The Journey To Be Wealthy] – Once You Are Wealthy Then You Can[If You Feel- Even Though Not Advisable] Flaunt Your Wealth.

4. Learn From The World's Most Wealthiest

• The Life Style Mind Set Changes

• How They Dress => What Steve Jobs, Mike Zuckerberg Wear – They Wear Very Simple & On Most Day The Same Type Of Dresses
• What They Drive => How Many Of You Have Heard Of Billionaires Driving A Small Car/Second Hand Car
• What They Buy => As The Saying Attributed To The Great Warren Buffet Mentions – If You Buy What You Do Not Need & Then There Will Be A Time – You Won't Have Money To Buy What You Need. They Don't Spend Based On Ego Or To Show Off – They Only Buy What Is Needed To Keep Them Comfortable Or Just Because You Can Buy
• What They Eat => What You Eat, Drink & Smoke Now Can Severely Impact Your Finances Later In A Big Way. Most Of The Wealthiest Eat Simple & Negative Food Habits

• Understanding Laws Of Creating Wealth

• Create Additional Sources/Channels Of Income – Using Your Expertise + Creativity& Not Taxing Yourself In A Say 18 Hours Everyday Work
• Think Creative How Can You Add More To Your Income – There Was A Story Of 8^th Pass Girl Making Hundreds Of Thousands Amount Per Month Simply By Referring Drivers To Uber
• How Can You Make Your Investment/Savings Deliver More Income Manifold Than Current. But Please Remember "Return Of Capital" Is Always More Important That "Return On Capital"
• Identify A Need Of People [The Bigger Mass Of Population You Can Serve – The Better] - Which You Can Meet With Your Current Skill Sets
• Identify A Future Competence – If You Develop – Can Help You Solve A Irritation/Some Problem That The Common Man Is Facing + Then Go Ahead & Develop & Master That Competency
• Ensure That Whatever You Are Currently Doing – You Are Delivering Value That No One Else Is Doing
• Take Classes To Understand The Finance
• Keep Yourself Updated On The Trends & What Is Happening Around World
• Explore - Whenever Anything That Looks Like Opportunity +Some Times Your Most Pressing Issue Which Is Making You Stuck, Could Be A Opportunity => Use That , Explore That, Work On That

5. Understand The Basics Of Finance – This Is The Minimum To Survive & Thrive In Addition To All Above Guidelines

• Create A Emergency Fund => The Rule Of Thumb Says That If You Are 25 Years of Age – Then You Should Have A Corpus Of At Least 3-4 Months Of Your Total Expenses & If You Are Say 40 Then It Should Be At Least 9 To 12 Months Of Expenses
• Create Expenses Based Investment/Savings => Example => Your Education[Further] + Your Kids Education + Your Kids Marriage + Your Retirement Booty. Do Not Invest Without Learning & Understanding. Do Not Play Stock Market Unless The Amount You Invest & In Case Loose Is Insignificant.
• Build Assets => Typically The Real Estate & Gold[Paperless]
• Plan Taxes => Take Advantage Of All The Ways Your Government Has Given You To Save Taxes
• At Least Have 3 Essential Personal Insurances For Self & Family=> Medical/ Accident / Term Plan => Please Use The Calculator In Our Website's Finance Section To Find Out How Much You Need & Can Afford. Please Do Not Confuse Insurance With Investment & Do Not Treat Insurance As A Tool To Make Money – You Will Loose Greatly.
• Remain Mentally, Emotionally, Physically Healthy To Enjoy Wealth – Remember the adage – "I do not want to be a millionaire but want to live like a millionaire".