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Steps to achieve early Financial Freedom

Author: Bharti Joshi
by Bharti Joshi
Posted: Oct 10, 2018
financial goals

Majorly people spend their whole life working for money, many were never willing to carry out he activities they are currently pursuing. They do it under financial pressures as the carrier they always wished to go with cannot pay him/her sufficient enough to sustain current income.

So left with no choice more or less majorly people are pursuing the career the never thought of doing for money. Have you ever thought about the life with finical freedom, Life with no more pressure to earn, you have sufficient wealth to live the life style you are having without working for it anymore? Financial freedom is the state of having sufficient wealth without having to work. Earn steady and safe INCOME FLOW EVEN WITHOUT WORKING.

Let’s see other way also, have you ever thought what if you are not able to go to their jobs or businesses any more, from where money will flow? If all of sudden your source of income shuts down, then what??

After financial freedom our assets generate income that is greater than our expenses. Follow your passion, give time to your loved ones; make yourself financially free with below steps.

Steps:

1. Set your financial goals

2. Spend Less Than You Earn

3. Stop Saving, Start Investing with calculated risk

4. Keep Patience

1. Set your financial goals:

Regardless of what life stage you are in, you are likely to have some short and long term financial goals. Determining what your short-term, mid-term, and long-term financial goals are is the first step. Set some financial goals for yourself to make a clear-cut plan for the future if you want to be financially free. Try to think ahead,where do you want to be in 5 years-10 years? Keep exact goals. For example, you want to earn crore rupees or a huge home worth.. or inflated income that doesn't need to work anymore after 5-10 years, pay off all your debts,etc.. Write down a series of goals in rupee terms, ranked in terms of importance.

2. Spend Less Than You Earn

Figure out how much you’ll need to save per month to achieve your financial goals. To spend less than you earn, you need to: Analyze your financial habits. It is remarkable how easy it is to finish up with money without realizing where it is going. Knowing where your money goes makes it easier to understand where you can cut back or save more money. Few points that can help you reduce your expenditures arerefinancehigh-interest loans, get a Less expensive vehicle, think again about the luxuries you are using, etc. If you start seeing a good chunk of money in, this isn’t a sign that you should start spending and upgrading your life. Live your life as it was and stick to your plan until you have achieved your end goal.

3. Stop Saving, Start Investing with calculated risk

If you make money, your natural reaction is to probably stuff it under your mattress or in your bank account. However, I learned that saving your money does absolutely nothing. Insteadsavings account can protect you for a few months, but not forever. Investment is the only real way to create massive wealth so invest as much money as you can. There are many investment options but if your tenure is long term than equities provide best returns so make Long term investment in stocks with calculated risk as it gives the best returns compared to other asset classes. If you want to be financially free in less than 10 years, you have to diversify your investments through professional advisors. Else you may lose money from investing, most people do gamble and end up with negative returns and lose capital. Don’t take any risk takejust calculated risk through professionals.Multibagger Stocks are also superb category of stocks for financial freedom if proper stocks are bought through expert advice. Inquire about the Multibagger stocks 2019 from experts and plan your investment for financial freedom.

4. Keep Patience

Great goals take a long time as long as you are consistent and stick to your plan, you will eventually get where you want to be. Don’t let failures, mistakes, and slow progress derail you from your big goals. Here is a simple example that explains the long term magic Like any plant, growth of the Chinese Bamboo Tree requires care and everything. In its first four years, we see no visible signs of growth above soil our patience is tested and we begin to wonder if our efforts will ever be rewarded.Finally, in the fifth year a miracle, plant comes out and what growth it is! The Chinese Bamboo Tree grows 80 feet in just six weeks! Yes 80 feet!!!But tell me, does the Chinese Bamboo Tree really grow 80 feet in six weeks? Chinese Bamboo Tree lies,underground developing a root system strong enough to support its potential for outward growth in the fifth year and beyond.The same principle is true for investments.

Achieve financial freedom with above mentioned steps and get the best Indian stocks to buy for next 10 years with SEBI Registered Research Analyst ABJ.

About the Author

Abj is a team of Sebi Registered Research Analyst, Traders, Investors and Tutors. Its vision is to build wealth of clients by making investment in proper stocks for long term.

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Author: Bharti Joshi

Bharti Joshi

Flag of India
India

Member since: Oct 01, 2018
Total live articles: 3

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