We are living in the Golden Age of Mankind.
Not the Dark Ages, not the Middle Ages, not the Classical Age, the Industrial Age, but the Golden Age.
What does this mean? Essentially historians have labeled our times as Golden because of the overwhelming possibilities for human beings to become prosperous and live lives of abundance and happiness.
Yet despite such possibilities, many still struggle because the are unaware or choose to ignore the laws of financial freedom.
Financial independence is simply defined as:
The ability to live from the income of your personally invested resources.
How does one go about reaching a point of financial independence? Glad you asked. Here we go, as practiced by self-made people from all walks of life.
Extremely prosperous, financially independent people:
1. Value their money. They value each dollar bill as a money seed. Wealthy people know that a dollar a day can grow into a million dollars. So they are very respectful of every dollar they spend.
2. Control their money. They control their money down to the penny. Prosperous people take a few extra steps every time they spend money: (a) they shop for the best value, (B) they ask for and expect a discount, (c) they examine their receipts for mistakes, (d) they attempt to turn expenditure into a legitimate tax-deductible business expense, (e) they know the score, balancing their check book to the penny (f) they file their receipts.
3. Save money. They save at least 10% of what they earn, never ever touching this money. As their income increases, so does the amount they save, from 10, to 15, to 20% and upwards. As their income rises, they save more and more.
4. Invest money. They invest before they spend, following their own, simple allocation system. They understand that investing is not at all complicated, nor should it ever become so.
5. Earn more money. They understand that their greatest asset is themselves and therefore their ability to earn from Multiple Streams of Income outside their vocation.
6. Protect their money. Money lost is more than that. It is time lost in earning it. They therefore protect themselves with trusts, corporations, limited partnerships, and other legal entities. They have very few assets in their name.
7. Give back. They establish or are aligned with foundations to which they donate 10% of their money. Period. The more they donate, the more the Universe gives back.
Action: How are you doing when it comes to the habits just mentioned?
In what way can you begin to incorporate such behaviors into your money management skills?
There are no excuses by the way. We’ve heard them all before. People from the most humble beginnings and catastrophic setbacks have achieved financial freedom. So can you.
Dan Floros is the world’s leading authority on Clarity, Focus & Simplicity.
He is a highly sought after keynote speaker, seminar leader, and mentor in his capacity as chairman of Sydney and Dubai based Dan Floros International.
His organization specializes in the development of human potential at both the personal and corporate level through fundamental success principles, unbreakable universal laws, together with time proven strategies that cut through complexity and deliver meaningful results……..fast!
He is passionate about transforming the lives of peoples around the globe through cutting edge knowledge in the disciplines of leadership, personal effectiveness, business strategy, and financial independence.
As a result of his insights, individuals are able to identify and achieve their goals with speed and precision by thinking “outside the squareâ€.