Four Ways of Attaining Financial Freedom

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People have divergent views on the term ‘financial freedom.’ The phrase typically means obtaining enough financial resources to live a comfortable life. Comfortable life, in this case, is relative and differs from one person to another. However, the unifying resource to live a life that one wants is money. The four major ways that an individual can use to attain financial freedom include seeking employment, engaging in self-employment, doing business, and investing.

Four ways of attaining financial freedom.

  • Seeking employment. Employment simply means working for another person or company in exchange for money. The remedy for employment is normally known as wage or salary. Wage is normally paid per hour/day while salary is compensated monthly. The person seeking employment is known as an employee, and is paid based on time spent doing tasks. Therefore, the leverage for employment is time. This fact means that for an employee, time equals money. Job Coaching Strategies A Video Guide for Supported Employment can be used a a guide to effectiveness in employment. One can attain financial freedom using employment since some companies pay their employees, especially the top management, up to $200,000 per month. The amount paid for employment depends on the value that the employee brings to the employer, which can also be negotiated.
  • Engaging in self-employment. Self-employment means offering goods and services, as an individual, in exchange for money. Some of the popular self-employment avenues include farming, blogging, affiliate marketing, and other freelance jobs. In self-employment, income is gained based on the amount of goods or services sold. This fact means that one is paid based on the time spent selling goods and services, which means that the leverage for income is time. Therefore, in self-employment, time equals money. Self-employment does not have a ceiling for earning money since it depends on individual effort and time spent doing particular tasks, such as selling goods and services. The Interpreter’s Quick Guide to Self-Employment (2nd Edition) is a guide to effectiveness in self-employment. One can attain financial freedom using self-employment by maximizing revenue and profits. Therefore, goal-setting is important in maximizing returns for self-employed individuals.
  • Doing business. Business involves engaging in commercial activities. Such activities include selling goods and services to potential and target markets. A business person normally hires employees to help in the selling process. This fact means that human resources play an important role in business. When conducting business, it is vital to ensure operational efficiency by hiring the right individuals to conduct various tasks. The leverage for business is human resources. Therefore, in business, people equals. money. Success in business also depends on how well one can penetrate the markets by offering goods and services better than competitors, as highlighted in Utter Confidence: How what you say and do influences your effectiveness in business. One can attain financial freedom using business by having an efficient team that can maximize revenue and profits. Therefore, an efficient and effective workforce is key in business.
  • Investing. There are are various financial schemes for investment. The process simply means putting money in a specific scheme with the aim of getting returns. Some of the most popular investment platforms include property, shares, money market fund, treasury bonds, and cryptocurrency, among others. The leverage for investment is normally money. Therefore, when investing, money equals money. However, risk normally plays an important role in investment. Besides, ‘the higher the risk, the higher the returns.’ Security Valuation and Risk Analysis: Assessing Value in Investment Decision-Making explains that one can attain financial freedom using investment by choosing the right schemes. Therefore, it is prudent for investors to diversify their portfolios in order to create a balance between risk and returns.

Everyone wants to attain financial freedom. The most important thing in attaining such freedom is making money. Therefore, one can attain financial freedom through employment, self-employment, business, and investment. The choice depends on an individual’s skill set and available opportunities.

Joshua Omolo

Founder and Managing Director at Joshua Omolo & Associates Limited (JO&AL). JO&AL is a knowledge-based company whose clarion call is to “help people and businesses get out of the cubicle and create wealth.” The company has combined different methods of making money to create effective resources for beginners and experts. The focus is to conform to the global changes brought about by information technology. JO&AL’s commodity of trade is “Knowledge”. We are a reflection of a transformation that is taking place in our national and global society. Currently, learning is continuously being redefined for formal and lifelong learners in both public and private sectors. Consequently, we deal with affiliates, advertisers, agencies, and entrepreneurs. Our private fora coach individuals interested in leveraging their careers for business.

Joshua Omolo

Founder and Managing Director at Joshua Omolo & Associates Limited (JO&AL). JO&AL is a knowledge-based company whose clarion call is to “help people and businesses get out of the cubicle and create wealth.” The company has combined different methods of making money to create effective resources for beginners and experts. The focus is to conform to the global changes brought about by information technology. JO&AL’s commodity of trade is “Knowledge”. We are a reflection of a transformation that is taking place in our national and global society. Currently, learning is continuously being redefined for formal and lifelong learners in both public and private sectors. Consequently, we deal with affiliates, advertisers, agencies, and entrepreneurs. Our private fora coach individuals interested in leveraging their careers for business.

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