Yes, you guess it right, it's being financially free. Being able to enjoy what life hands to us, but yet do not have to worry over the bread & butter issues. Imagine, for one moment, I can be gone fishing, or choose to travel wherever and whenever I prefer, without the concern for and bogged down by work commitments. Or, I am able to extend a lending hand to social work and help out those that are in need, probably financially. With financial freedom, I can do much more !!
But how to do it, you may wonder ?
Here's what I plan to do to achieve this goal in my life :
- Have a budgeted plan on my income earned through my salaried job(s)
- Regulate my expense and spending to the least possible
- Save as much as possible
- Channel a part of my savings into stocks that provide dividends regularly
- Re-invest all the received dividends back into Dividend Stocks
- Repeat Step 1 - 5
- Invest in physical gold whenever I have spare cash
- Invest in real estate whenever I have enough cash
I will update any new purchase and add it into my stock portfolio. I will also aim to increase my monthly dividend income, at least on a per quarter basis.