Three Steps to Financial Freedom. Can it be so easy?
Financial freedom is the goal for every working adult around the world. So why do so many people struggle to get there?
Tim Rhode has come full circle. He was a poor student, part time grocery clerk and found his passion and created financial freedom through real estate.
Before you can invest, you have to be aware of your ABC’s of your personal finances.
- How much is coming in?
- How much is going out? What am I spending my money on each month?
- What’s left to invest?
Once you have money to invest, you can pursue Financial Freedom.
The three steps to Financial Freedom:
Step 1: Awareness
It all starts with awareness. This includes getting educated about your surroundings and the people in it and where the path of progress going.
With some basic awareness, you have to jump in because you can’t win the game if you aren’t in the game.
Now you have to be willing to grind and focus.
Step 2: Become a Master
The grinding starts to pay off after you have some experience. You will start to recognize the next level of the game and how you can play it.
Exchange into bigger opportunities. In real estate, the 1031 Exchange is a vehicle for deferring the taxes from a real estate sale. Because you still have the would be taxes to invest, you are able to leverage up into properties that are more easy to operate.
It takes time
Quit looking for the shortcut to getting rich. Everyone has heard a story about the overnight success. But the reality is that true success takes time. If you are willing to invest in yourself and your time, doing what works, over time, you will have success.
Remember, education is a lifelong pursuit. You have to commit to continuously educating yourself.
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