Saturday, May 4, 2019

Financial Freedom May Not Make You Rich But it Sure Will Make you free

Financial freedom won’t make you rich, but it sure will make you free.

Many people start their lives trying to find work to support themselves and their families. If they are brought up in poor environment, they don’t have any options in life except to find any kind of job to help themselves.

That means they don’t have the luxury to chase their passion or to try to figure out what they like doing the most.

But on the contrary, many other people don’t have those hard situations. When they start their careers they have that motive inside their heads. They have that passion that starts with their choice for the field of study they want to specialize in.

But as the days pass and they get older things change a lot.

First, they themselves change. They lose that passion to their jobs and find that it’s only something autonomous they keep doing over and over without any spirit.

Second, and that happens with many of us is that we have that dream job we wish to get. And only when we get it we are shocked to find that it wasn’t what we have been dreaming of.

We are shocked when we are faced with the fact that this job is just a beautiful outside decorative front for the ugly truth hiding inside. And unfortunately, that’s what most jobs are.

When I started my way toward being an entrepreneur, I started as a freelancer and I wasn’t getting paid much from simple freelancing jobs.
But I loved that feeling I got when I make those 5 dollars from my work as freelancer.

I’ve made my steps through writing and I reached a better situation when I knew the passive income concept. In which you work for some time to create your own assets and products and then with some little maintenance, you make profits even when you’re away or when you’re asleep.

Even with this concept of passive income in mind, I didn’t reach the threshold that can make me give up my active income of the daily job I have. But that delicious feeling of freedom is what keeps me alive as I continue to do that work for myself each day.

And as I watch this private stuff I create is getting more and more popular, I feel happy and hopeful.
In fact, that was the first target from starting side gig from the first place.

Try to find your own side gig to make you happy as you pass each day of your life.

Tuesday, March 27, 2018

Unshakeable . Tony Robbins. Book Review

Just finished reading Unshakeable for Tony Robbins. This book is about financial freedom and how to build wealth spiritually, emotionally and financially.

The book deals with psychological of financial management in our lives.

As the name implies, Unshakeable means how we can achieve emotional stability in our lives by feeling more internal security.

While absolute external security is something beyond reach due to ever changing events and situations of life, internal security can be reached from our own selves.

The book can be considered as a summery for Tony’s last book “Money Master the Game”. It also highlights that psychological points in dealing with finance and investment.

Some main points of the book are:

Some terminology of the financial world: Correction market, bear market and bull market.
What is correction market?
What is bear market?
What is bull market?
The power of compounding
The power of staying in the market
Nobody can beat the market
No one can expect the market
News are designed to make people panic
Difference between index fund, managed fund and mutual fund.
How small print in contracts can be made to get more fees from you without you know about it.
What’s the difference between different 401k providers in the US?

The most valuable advice you can get from Tony and from all investor gurus he has interviewed is that you must to stay in the market.

Short term investment in stock market is something like gambling. While long term investment turns you from being a consumer into being an owner.

When you buy one of Apple’s products (iPhone) you are a consumer, but when you buy Apple stocks you are an owner in Apple.

The panic people get when the stock is affected by any circumstance is the main reason for making them lose their savings in stock market.

Also, as any stock gets more expensive people race to buy it as they expect to get higher. But as the winter don’t last forever, the summer also doesn’t last forever.

Most people lose because they buy stocks when their process are high and sell them as they get cheaper. And that’s not the right way to make money.

The book highlights the fact that many agents in financial market are both registered as independent advisors and as stocks selling companies agent.

This means that you may want to go to an independent agent to take advice on what stock to buy expecting him to be honest (that’s the fiduciary job) while he is taking a commission for selling you this stock.

The book is excellent in general and easy to read. Even if you are not a financial expert, you can gain valuable information that can help you manage your savings and investment. And I guess that’s exactly what Tony has intended to do.