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Getting Started in the Search for Financial Freedom
http://www.valuablecontent.com/articles/27579/1/Getting-Started-in-the-Search-for-Financial-Freedom
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Published on 12/31/1969
 
The secret to building wealth is not to work hard, it’s to be smart and invest in your financial freedom. Once you have a sum of money set aside you can go about building a fortune, but let’s not get ahead of ourselves… We need to start humbly by putting away some money each month.

Getting Started in the Search for Financial Freedom

With the goal of financial freedom in mind, investing on a regular basis is vital. But where do you begin, and what should you keep in mind when starting out?

Let’s start at the beginning. The secret to building wealth is not to work hard, it’s to be smart and invest in your financial freedom. Once you have a sum of money set aside you can go about building a fortune, but let’s not get ahead of ourselves… We need to start humbly by putting away some money each month, try for 10% of your income. This may be tricky, but if you can make it work you will soon be reaping the rewards. Even if you can’t afford much, it is vital to make a commitment to saving a set amount every month – think of it as paying yourself (a concept used by Robert Kiyosaki in his famous book, Rich Dad, Poor Dad).

First and foremost you want to build a cushion of savings equivalent to at least three month’s salary. This safety barrier will let you breathe easy if you ever run into some trouble, allowing you to focus on building towards financial freedom. You want to know that should you lose your job, or should your car need expensive repairs, that you will be able to get through the situation without compromising your lifestyle. Naturally you want to invest this money in a low risk investment portfolio, as it is short term saving. The interest rate will be lower, but you can be sure that the money is not going anywhere and that you have quick access to your funds.

So step one will be to investigate your budget and set aside a fixed amount which you will be investing in your future financial freedom each month. Robert Kiyosaki advocates paying yourself first, and this is probably a good idea, so why not put that money into a new savings account as soon as your salary is paid into your account. Leave it there. Don’t touch it. Even if you are eating dry bread crusts at the end of the month.

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