Financial freedom, meant to be a synonym used for without having
to worry about earning for daily bread or any kind of basic necessity.
This generally is found with people who have got freedom financially
through hereditary, or with those people who invest the money
intelligently to get good returns. A person’s assets and liabilities are
the main factors to ascertain if he/she is financial independent.
Assets can be liquidated if in debt. Age is not the criteria of gaining
financial proficiency, it is simple to say if you generate money more
than your needs from other than primary occupation then you are
financially free. Inflation is also to be considered every year for
gaining freedom, because spending will vary from year to year. There are
two ways by which we can attain financial freedom, accumulating assets
or reducing the expenses. There is another way of achieving financial
independence is through generating money by passive source of income.
Like putting money in stocks or shares, which provide healthy dividend
quarterly, rent an owned property, fixed deposits, royalty, pension,
patent licensing or working part time. The best thing is plan and work
for your retirement well before actually getting retired. Start saving
enough for your retirement from right now, which can also become
available for emergencies. investment
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