Here are 21 ways to compress the distance from where you are now to financial freedom:
- Earn more, and save more.
- Spend less – thus reducing the amount of passive income you need to become financially free.
- Leverage other people’s time, other people’s knowledge, other people’s relationships, other people’s money, other people’s deal flow.
- Use leverage to create positive arbitrage.
- Start a business in parallel to your W-2 job so you can earn – spend – tax, rather than the job trap of earn – tax – spend.
- Be a market cycle investor – buy in a Buyer’s market, and sell in a Seller’s market.
- Be a lifelong learner. The more you learn, the more you earn.
- Include your spouse in your financial education and goal setting and dream building.
- Work with a financial mentor who is financially free.
- Invest and work for what the investment and the job will teach you.
- Invest in relationships.
- Getting rich slow is better than trying to get rich quick and never getting there.
- Embrace failure as an opportunity to grow.
- Write down your long-term goals and your daily to-do lists.
- Write down your compelling “Why”.
- Schedule your day and your life – live life by design.
- Use your time in your vehicle for studying audio programs.
- Protect yourself from negative people and negative environments.
- There will never be a perfect time to launch. Take action then make course corrections as you go.
- Get around people who think radically different than you – spending time with “like minded” people is a recipe for producing results you already have – you will become the sum of the people you associate with.
- Lower your income tax burden using IRAs, 1031 exchanges, and long-term capital gains rather than ordinary income, HSAs, and S-corporation tax status to lower your self-employment status.
