FINANCIAL FREEDOM - New Buzz Word. Understand All About It

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Hi Friends, Today planning to talk about Financial Freedom.What it is and How to move towards it.Especially in this generation among the working class this is a buzzword.

What is Financial Freedom? As its word suggests it means literally to be financially free that means one will be able to survive and pursue the passion or the lifestyle he/she wants without having to do the routine tasks that he/she used to do to meet financial needs.This means that one can quit his full time job and live with the money he has accumulated over years and follow his/her passion.

How to Achieve Financial Freedom?


This can be achieved in mainly two ways like:
  • Investing the money during active days into right asset classes.
  • Generating Passive Income.
These are the most common ways to achieve Financial Independence.Lets take one by one.

Investing is generally misunderstood by some people as saving.Some people used to save the money they don't require in the savings bank.Actually that is not investing taking inflation into the picture.Investing means to invest in asset classes like Equity,Debt or property in the right proportion to achieve a certain goal in the future.There should be some goals associated with investing these could be either short term or long term.

Second one is about the passive income.Passive income means to generate the income without doing anything for it,This means we have to put one time effort for the work and reap the benefits later on.Examples include YouTube,Bogging etc.

Hope this is helpful.Signing of for now.

Please do comment below about your favorite investment options 

Happy Investing 😊

           

Comments

  1. atif xhaikhJanuary 5, 2021 at 7:04 PM

    This is a great inspiring article.I am pretty much pleased with your good work.You put really very helpful information. Keep it up. Keep blogging. Looking to reading your next post.
    Arca Novum

    ReplyDelete

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