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7 Simples Steps to Financial Freedom and Wealth Building – Step 2

December 24th, 2023

Do you want to achieve financial freedom? For most people, this is constantly on their mind. If you are reading CashFlow Avenue’s 7 Simple Steps to Financial Freedom and Wealth Building, chances you are looking for ways to get out of the rat race and to achieve financial freedom. Unfortunately, it isn’t always as easy as it sounds.

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Simple Steps to Financial Freedom and Wealth BuildingSTEP 2: Achieve Financial Freedom – Choosing Your Escape VehicleDo you want to achieve financial freedom? For most people, this is constantly on their mind. If you are reading CashFlow Avenue’s 7 Simple Steps to Financial Freedom and Wealth Building, chances you are looking for ways to get out of the rat race and to achieve financial freedom. Unfortunately, it isn’t always as easy as it sounds.
With your Financial Goals firmly defined in Step 1, you would now have to choose your “escape” investment vehicle.

There are plenty of investment vehicles in the world.

Let’s name a few most common form of investment – fixed deposits, gold, bonds, real estate, stocks, stock options, mutual funds, starting a business on your own, etc.

From experience, you might probably be able to tell that every one of the above contains risk, except for fixed deposits.

Profit, simply defined, is your reward for placing taking risk on your assets.

On surface, fixed deposits, look the safest form of investment but are probably the most risky because inflation rates are consistently higher that what the bank would pay you – slowly eating away your purchasing power in years to come. So, in truth, while your bank account is growing in numbers, you are actually becoming poorer. If there is no inflation (which will never happen in the long run), fixed deposits are still not the best escape vehicle because it takes just too long to appreciate.

Who would want to wait 30 years before they can be rich?Without getting involved into too much detail, let’s jump straight into action. When choosing an escape vehicle, you probably would want to set a few criterions to screen out what will and will not work for you.

The ideal escape vehicle or business should provide:

Liquidity – allows you to cash out within a few days.

Leverage on Your Capital – using only your capital can be slow. Select a vehicle that provides leverage that magnifies only returns but not losses.

Fast Results – should see return on investment within the 1 st month.

Easy to Set Up – should take no longer than 1 month to start.

Predictable Monthly Return on Investment (ROI) – be able to forecast accurately your monthlyLow Risk – consistent and provides a high percentage for successProfit with Time – with each tick of the clock, you should be making money.

Utilizes The Power of Compound Interest – snowball your returns to accelerate your wealth building process.

After running these criterions over the choices of investment available, most vehicles don’t make the cut.

Of all, only 2 investment vehicles would make the cut.

Stay tuned for Step 3 for the Best Escape Vehicle.

Tips For Wealth Building With Stocks

December 24th, 2023

Wealth building with stocks is something that many people are seeking. If you are investing you cannot just invest, you have to put some work into the process in order to see great returns.

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Wealth building with stocks is something that many people are seeking. This is a time of financial unstableness for many people and there are some great ways to get involved with the stock markets and take control over your future and your potential for wealth. If you are investing you cannot just invest, you have to put some work into the process in order to see great returns.

When you are first thinking about wealth building with stocks you want to make sure that this is the right choice for you. Stocks can be pretty tricky and you want to make sure that you have the time to invest in stocks and this should be a decision that you should not take lightly. You may not find the perfect stock right away and you need to make sure that you are carefully planning each move that you make.

The market can be very volatile and you should be aware of this factor before you get started. Each day something new can happen and you need to understand that it can be very rare for a stock to continually grow positively every day and there will be good days and bad days and you need to understand this process.

If you go with the first stock that catches your interest you may be taking a major gamble that may not pay off. You need to scrutinize each stock that you stumble upon before you react in any way. Many people invest in a stock and then do the research to find out that this is not a particular stock they would have invested in if they did this research in the beginning and you do not want to make this mistake.

If you want to be successful with stocks you do not want to be investing all over the place and you need to prepare yourself to sit with a stock for a while and give it a fair chance. This can take some patience and if you posses this patience you may find that it can really pay off.

Wealth building with stocks is possible, but you need to keep your expectations in check. If you build your wealth by doing great amounts of research you may be able to reach your goal much sooner and this can help you take control over your future and possibly your wealth also.

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