Study the lives of billionaires who came from nothing. You will find that the reason almost all of them can quickly move to financial freedom is investing or owning a company. Because there is legal convenience for people who earn income in these ways. So, it’s easier for investors or business owners to get rich quick. You can also achieve your financial freedom faster in case your money works for you.
Achieving Financial Freedom
Debts and taxes are two barriers to many people’s financial freedom. To quickly achieve financial security or freedom, it is necessary to own a company or to invest. For this, it is necessary to know that the important thing is not employment security but financial security and financial freedom, and also to understand the difference between them.
The Difference
- Employment Security
- Financial Security
- Financial Freedom
What most people believe is to complete higher education, start a job and retire in that profession. A large segment places emphasis on employment security in this way. They think that employment security is financial security, until they see that they lose their job and cannot find another job. None of them even consider the possibility of losing their job. However, wealthy people do not even speak of the term employment security. They talk about financial security.
Employment Security
People who care about employment security do their jobs very well. Most of them have devoted many years to training and gaining work experience. Although they have retirement plans, they do not know how to invest. They don’t feel safe because they are only trained to work or fulfill their profession.
It’s Always Good to Have Two Legs Instead of One Leg
To get more financial security, you will also need additional income and it will be important to educate yourself to earn those extra income. Whether you are an employee, a company owner or an investor, if you trust your skill, you will naturally feel more secure even if you don’t have much money. Knowledge means power… All you have to do is wait for the right opportunity to use that information and then you will have money anyway.
That’s why we were created with two legs. If we were one-legged, we would always stall, we would not feel safe. A person who is both actively working and investing with his savings is two-legged. Having knowledge on both sides gives us confidence. Those who know nothing but their job or profession are one-legged. Every time the economy goes down, they suffer far more disruptions than two legged ones.
Financial Security
Rather than investing the money in a retirement account and waiting for the highest return, self-taught people to be both employees and investors value financial freedom. I suggest you learn to be a professional investor in the same way we study at school to learn a profession.
The question that the reporter mentioned in the previous post had to ask the investor who earned a million dollars in the asset column but did not pay taxes was actually this:
“How did you get a million dollars?”
This was the main question. It is easy to find legal opportunities to avoid paying taxes. However, earning a million dollars is not easy.
Let’s also take a look at financial security through the eyes of “self-employed” people:
The average American millionaires are self-employed, live frugal, invest long-term.
The path from self-employment to company ownership is followed by big entrepreneurs like Bill Gates. While it is not easy, it is perhaps the best.
Operating in Different Fields
So being educated in more than one field gives more advantages than being well educated in just one. Did you know that wealthy people earn, on average, seventy percent of their earnings from their investments or companies, and the remaining thirty percent as employees or self-employed? No matter how much money you make, knowing how to increase your money will increase your assurance. Financial security is the ability to earn income from both sides independently of each other.
Financial Freedom
This path leads to real financial security, because there is one thing in common between those who earn income as company owners and those who earn as investors: they have people who work for them and make them earn money. Also, they make their money work for them. They work if they want, they don’t work if they don’t. Thanks to their knowledge in two areas, they do not have to work physically.
This is the path the billionaires take. This path shows the revenue models of Bill Gates from Microsoft, Rupert Murdoch from News Corp., Warren Buffett from Berkshire Hathaway, and Ross Perot.
Warning: Owning a company and being an investor are very different. I have seen many successful company owners who have sold their companies for millions of dollars. They like to think that their money is an indicator of how high their intelligence is, so they step into becoming investors and lose everything. A different game is played in each income generation model, different rules apply. Therefore, I strongly recommend that you be informed.
Just like financial security, operating in two areas will provide more stability to the person in the world of financial freedom.
You may want to read: WHICH PATH ARE YOU MORE INCLINED TO? (EMPLOYEE, SELF-EMPLOYED, EMPLOYER OR INVESTOR)
Also, check out these posts:
- YOU ARE THE PERSON TO TAKE CONTROL OF YOUR INVESTMENTS
- TEN CHARACTERISTICS OF LEADERS AND SUCCESSFUL INVESTORS
- WHY FINANCIAL SECURITY IS MORE IMPORTANT THAN THE JOB SECURITY
- YOU MAY LOSE MONEY BECAUSE YOU DON’T INVEST ENOUGH TIME
- DON’T BE AFRAID TO INVEST YOUR MONEY
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