3 Paths To Financial Freedom

3 Paths To Financial Freedom

In your quest to build wealth and live in financial freedom, it is imperative for you to know that there are only three paths to choose from. This knowledge will give you direction and speed in your financial journey.

The three paths are:

1) Paper assets (stocks, bonds, etc.)

2) Real estate (not your home)

3) Owning your own business

In order to increase the probability of you achieving your financial dream, it is important that your wealth plan should include at least two of these three paths, and if possible, the three. Apart from increasing the certainty of your financial results, with this approach, you will also enjoy the security and safety that the principle of diversification of investment offers.

Also, it is of utmost importance to know that there are two steps to the wealth process. The first step is to create wealth, and the second step is to preserve and grow that wealth through investing.

Statistically, real estate and business ownership are the basic channels through which wealth is created.

Now, wait a minute……

I’ve not forgotten I said there are three paths to choose from in your pursuit of wealth and financial freedom.

Unfortunately, paper assets are rarely considered a wealth-building vehicle. This is because of the mathematical limitations to its growth. Consequently, paper assets are better used as parking places to preserve and grow the purchasing power of wealth that has been made through the other two paths.

As an employee who desires to build wealth and live in financial freedom, you must save a portion of your salary (10% to 20% of income is recommended) to invest in real estate and paper assets.

The only challenge with this approach, which might not make it a desirable wealth-building strategy for many people, is the discipline, sacrifice, and persistence that would be required in saving a part of your income.

But remember, where there is a will, there is a way. This wealth-building strategy is doable and workable if you have a strong WHY. With a strong WHY, the HOW will never be a problem.

So, what is your strong reason for desiring to build wealth?

It’s your turn to enjoy financial freedom.

To Your Prosperity

Sharon Akinoluwa

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