Money Boxes

The title of the book is, Money Boxes: How to Safely Invest in Property and Achieve Financial Freedom. But what do we mean byfinancial freedom? Let's first start with a definition. Financial freedom, in the simplest terms, is financial independence. You may recall me discussing my corporate job and how I made a fairly good salary doing that job. However, I did not have financialfreedom. If I decided to stop working, I would be in a pretty dire situation. I needed to work in order to...
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The title of the book is, Money Boxes: How to Safely Invest in Property and Achieve Financial Freedom. But what do we mean byfinancial freedom? Let's first start with a definition. Financial freedom, in the simplest terms, is financial independence. You may recall me discussing my corporate job and how I made a fairly good salary doing that job. However, I did not have financialfreedom. If I decided to stop working, I would be in a pretty dire situation. I needed to work in order to sustain myself financially, to pay my bills and to put food on my table.Financial freedom comes when your basic living expenses are covered by your passive income. Having a job where you provide your time and labour in order to earn a salary does not constitute passive income. The income that you earn from the job is very much active. You earn passive income when you are not actively doing something. There are many ways of generating passive income, such as stock dividends, affiliate marketing, posting videos to an internet site, and getting ad revenue.The list is long, and some of the ways are very creative. However, this book is about investing in property, which is one of the most popular ways to earn passive income. I remember when I was going through my training, and I was told about the 40/40/40 plan that most people follow, whereby they work for 40 hours a week, for 40 years of their life, and they end up retiring and living off of 40% of their earnings. That doesn't sound very attractive, does it? But that is how most of us are conditioned to think.Go to university, get a good job, work, work, and work, pay into your pension...and then die. A bit morbid, I know. But a new way of thinking was introduced to me during my training: the 777 wealth builder--7 streams of income, for 7 years, for a 7-figure income. So that was essentially having one new income stream every year. Now that's much more attractive if not a little bit daunting. However, anything is achievable if you put your mind to it.