Dear Friends,

I am new here and I am going to be sharing insights on the subject, financial freedom, a very exciting subject you must agree with me.

Many people mistake financial freedom for being rich but they are not the same, you can be rich with a lot of money and yet not financially free I define it as not needing to worry about money, money not being a hindrance in your decision making.
Financial freedom comes when your Return on Investment is greater than your expenses, in other words higher income than spending.

Lets look at the only five ways a person can be financially free:

Be a Business Owner

Most people think themselves to be business owners but in the actual sense they are in no way in this class, they are just self employed, they are still in one way or the other sell their time in exchange for pay, there’s just a little margin of difference between being self employed and being employed by a company for pay, the only difference is that when you are self employed you are working for yourself to make a living. The problem here is that you can’t be financially free working for yourself or for a company because when you eventually stop working due to age or whatever reason the money stops coming. You need to be a business owner. When you are a business owner you don’t have to be at your place of business for it to run, you don’t have to resume office 8am and close 5pm daily like every other staff, you only go when you wish to and that doesn’t in any way affect the operation of the business neither does it stop the directors bonus which is the Return on Investment of the business owner. When you have this type of business then you can be financially free, but ironically many business will not rise to such status before they fold up, it requires years and some financial input to build up of which most people don’t have.

Intellectual Property

This requires one to have an exceptional talent that can pay you royalty; it requires just an input of work that will pay you recurring profit. It could be as a writer, musician, poet etc. For instance when an exceptionally talented musician records an album, that singular piece of work can go on to sell millions of copies over a long period making the artiste financially free, the Return on Investment here is called the royalty, the artiste is paid royalty on and off the stage for a singular piece of work. Take the case of the Late King of Pop Micheal Jackson, it could beat your imagination that his Thriller album was recorded over two decades ago, sold millions of copies and still selling even after his death. The question here is – are you exceptionally talented to attain such status?

Investment – Fixed Deposit

This requires you to invest a certain amount of money in a fixed deposit account whereby you receive Percentage Per Investment as your Return on Investment. The task here is that you’ll have to invest a huge amount of money to get a substantial amount as percentage per investment. Lets take for instance, if your average annual expenses is N2,000,000, (pay rent, bills, purchases etc) it means for you to be financially free you need at the lowest least N2,000,000 from your fixed deposit. What this implies is that you have to get a financial institution that offers at least 10% interest rate on an annual investment of N200,000,000.
Again the question here is do you have as at now such an amount of money to invest? Maybe you do, but if you don’t then you have to look elsewhere.

Real Estate

This is one interesting sector when done right, judging from what I have seen, heard and read but this also like the others mentioned requires some huge amount of investment before it can finally make you financially free. Here your Return on Investment is the rent paid on your properties. Lets say, you’ll need an annual average of N3,000,000 to be financially free, you’ll need averagely 30 properties that can you rent of N100,000 annually or 10 properties that can pay you rent of N300,000 annually to make you financially free. Except you have that the financial muscle to do this you’ll have to settle for yet another option.

Multi Level Marketing (MLM) / Network Marketing (NM)


I love this one, not because I’m involved in it, but for what it brings to the table, what you stand to gain out of it with little input. I know this has been largely criticised and a lot have been cynical about it but the only reason why people don’t do NM / MLM is because they don’t understand it.
Network Marketing is simply leveraging. Which do you prefer? 1 person doing 100% of the work or 100 people doing 1% of the work. NM enables you to build a world class business without you worrying about the cost of hiring and managing staffs, setting up an office and every other cost associated with building a conventional business, become your own boss, have more spare time, and most interesting part is that it could be done on part-time. NM is the cheapest way to financial freedom, you don’t have to worry about a huge capital to start up, what you need to get started is peanuts when compared to what you stand to gain. There are quite a good number of legitimate platforms you can use today that are ready to launch you to financial freedom.

Whichever route to financial freedom you choose today, know that anybody can build a business, be financially free, and own their lives if they wish to, it only takes a little desire.

Thanks and Cheers

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Comment by Emeka Egwim on April 22, 2010 at 9:57am
If you are looking for a legitimate opportunity to be financially free, then you just have to see http://www.holidaysandrewards.com/lcp1/emmyrich its an exciting experience!!

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