Now I think, everything is possible; it is just a matter of mindset, following some basic rules and opening up for opportunities that you come across.
That’s why I’ve decided that I want to be financially free. This weekend I got the mindset and tools to go for it. But what is Financial Freedom?
Financial freedom basically means that you have enough passive income to cover all your expenses so that you don’t have to worry about earning money.
Passive Income Streams
Passive income streams make money for you instead of you working for the money. You usually have to invest a little time, energy and in certain cases money in the beginning to set them up but once they are going you have little to do. Just receive.
How it works
There are probably thousands of ways of how to become financially free with the help of passive income streams but here are just a few examples:
- Royalties e.g. from a book
- E-book, e-training
- Patents, intellectual property
- Click Per Action principle on internet
- Selling/borrowing your database to third parties
- Internet marketing
- Interest payments from investments
- Renting out your house, office space, car, parking spot, etc.
- Setting up your own membership site
How much can you earn?
A lot. But it all depends on you. How committed you are, which things you do, your mindset etc.
Why I wish to be financially free
I wish to reach financial freedom so that I am able to focus on the things that are important to me such as giving & finding inspiration, empowering others to become better people and entrepreneurs, motivating others to do what they love in life. And that all without having to worry about money.
Does it really work?
Apparently so but I always like to have some proof from first hand. And whom to trust more than myself? That’s why I am going to experiment with different tips, tools and methods. I will try out best practices from experts and write about my experiences along my journey.
And if I can reach financial freedom, everybody can.
I know myself and in order to increase my chances to each financial freedom I really need to make it a SMART goal:
That’s why I came up with following goal for myself:
My goal is to earn 10.000 EUR per month from passive income streams within 365 days from now.
Specific? Yes, I think so.
Measurable? Yes since I have no passive incomes streams whatsoever at the moment.
Attainable? Yes, especially after having followed this Financial Freedom training this weekend.
Realistic? Maybe not but I learned to think BIG this weekend and not to limit myself by limiting thoughts or beliefs from the past or from others.
Apparently there are three types of people in the world:
- the pessimists
- the realists
- and the visionaries.
It is also interesting to mention that out of these three it is the visionaries who usually don’t reach their goals. But what is even more interesting is that even though they don’t reach their goals they get much further than the pessimists or realists ever do.
So I choose to be a visionary from now on.
Therefore my goal is to earn 10.000 EUR per month from passive income streams by the by 15 April 2012.
And in order to make it more attractive for me to go for it for 100% I hereby commit myself to the “365 days Financial Freedom Challenge”.
I do this to increase my chances of reaching my goal since it seems that committing to something in public makes you really go for it even more.
In the coming days, weeks and months I will experiment, test, and try out different techniques, ways, methods, tools, best practices to reach financial freedom. I will write about my experience, my learnings, challenges and successes I come across my journey. I will also give you regular updates so that we know how much time is left to reach my goal and how much money I have earned along the way.
I still think it is possible to reach, even though quite challenging, but that’s why I called it the “365 days Financial Freedom Challenge”.
I hereby declare the “365 days Financial Freedom Challenge” open.
Wish me luck!