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Seven Guidelines To Financial Freedom

Ever wonder what it’s like to be very wealthy? Achieving financial independence is a fluid process. Most people have to earn their wealth. But, that’s not enough. They also have to put effort into adding and maintaining it. Here are seven guidelines to help you on your way to financial freedom:

#7- Be open to investment opportunities every day.

Wealthy people are constantly looking for the next investment opportunity. They realize it can present itself anywhere: from listening to their teenage child describing the next internet platform to spotting a new product in a grocery store.

#6-Not spending is the same as making money.

It’s that simple. If you are willing to sacrifice in one area of your life, you can use that saved money for an investment opportunity. When you make money work for itself, you’ve gained money you don’t have to earn again.

#5-Beware of complex investments.

Hedge funds and mortgage backed securities can be risky because you have no control. Also, be wary of any investments that include expensive fees. If you don’t understand the specifics, don’t invest.

#4- Don’t invest all in one things.

Diversify. You want to have a portfolio that includes mutual funds, stocks and bonds. Also investigate real estate, collectibles and business investments. But, do your homework first.

#3-Concentrates on assets that appreciate in value.

The very rich don’t focus on expensive clothing and cars. You may be surprised at how little money you need to invest.

#2-It’s true: money equals freedom.

You gain the freedom to live where you want and do what you want. If the time comes, you have the option of traveling to see the best doctors in a chosen field.