Tuesday, September 26, 2006

What is financial freedom?

Many people search for a way to achieve financial freedom, so it seemed logical to me to clarify what it means exactly.

I created mind maps HERE.

First, you have to define for yourself whether financial freedom means:
  1. Freedom from being FORCED to work to pay the bills (usually, this is work that you don't enjoy, or find hard to do, or find boring to do)
  2. Making a lot of money (say, one million dollars) per year
If you choose Definition 1, then you could search for your ideal career, one where you fully utilize your talent and have fun using it, while being paid a fair amout of money for applying it to a real need in the world.

If you choose Definition 2, then it's a bit tougher since realistically, not many people can become rich. But it's still possible. In my mind map, I drew three basic options: buy a franchise, start from scratch (the most risky), or join a network marketing firm like USANA (risky too, but at least, the product has been developed already).

(To be continued)