What is financial freedom?
You are financially free when you meet two conditions:
- That your income surpasses your expenses.
- That, additionally, you receive your income in automatic form, without the need to work (as understood generally).
If you have to undertake any type of active work, that is to say that if you have to do things, you are not financially free because the moment you stop working or doing those things, you will stop earning money. So, your money depends on work, isn’t produced automatically, and therefore, doesn’t grant you financial independence.
What is, therefore, the best strategy to become financially free? In what way can we achieve the much-desired financial freedom?
The best way that I know, and that I have been practicing for years, is to create a strategy of passive or residual income, those which reach your pocket recurrently, constantly, and potentially infinitely, as a result of work or an investment made. That’s the key. In doing something just once (a job, an investment) and to be able to receive benefits derived from it automatically and which are prolonged over time. Without the need to do more things or work more.
Present times give all people the possibility to generate passive income and to be economically independent without much effort or resources. With a computer and a Wi-Fi connection you can generate a multitude of passive incomes, which are distinct from traditional income, for which you need significant amounts of money.
The largest collection of passive incomes made so far worldwide has been carried out by myself with my work on 100 streams of passive income. It is the result of years of practice and learning, which have allowed me to free myself from financial ties and obtain financial freedom without the need for active work.