February 26th, 2008 by Your Financial Resource
Welcome to episode FR1 on www.financialresource.org. We are delighted to have you join us today.
Our first episode is to discuss “financial freedom” and what it means to you?
One definition of financial freedom is “a well-planned lifestyle where one no longer is required to work for income to cover their expenses”. Doesn’t this sound great? However, contrary to popular belief, it does not require being free of debt, as a debt payment is just another expense like food, travel, gas, and other living costs that all of us have. Typically, financial freedom or financial independence can be attained in one of two ways (or a combination of the two):
1. Earn enough passive investment income so that one can cover all their expenses.
2. Create a large enough “nest egg” that can be liquidated over time to cover one’s expenses.
Simply said, financial freedom is one point in life when you do not work for money anymore. Instead money works for you. I love the sound of that!Â To achieve financial freedom, there are many typical popular routes:
Property or Real Estate Investment; Internet Marketing; Trading; Owning a Business. We will talk more details about each of these in future episodes at FinancialResource.ORG, so remember to subscribe to our FREE podcast or the RSS feeds at the end of this podcast.
As we talk about the term “financial freedom”, one thing that comes to our minds immediately, that we want to warn our listeners about is the marketing ploy used by many companies. For example, when you type in “financial freedom” into the google search, you will get an exhaustive list of debt relief products, mortgage consultants like reverse mortgages and debt consolidators, and other low fee credit cards, and advance fee fraud.Â There are also solicitations that often promise “financial freedom” in return for a couple of hours a week work, or in return for sharing one’s bank account information with the widow of the director of Nigeria’s central bank, etc. As we all know we need to educate ourselves, work hard and smart to achieve financial freedom and nothing comes for FREE.
That sets the stage for us to introduce FinancialResource.org. We are a community on the path to financial freedom! As an educated, ethical, determined, and hard working member we are willing to share and provide our experiences as a resource to achieving financial success. FinancialResource.org will have articles and podcasts on financial literacy, book reviews, and interviews with financial experts. Our interviews will feature financial educators, financial professionals, and members like you, who are willing to share their life experiences for all of us to learn from.
We know your time is precious and that you are listening to us so that you can get some value and education in a clear format. So it is our promise to you that we will not rant and rave and will provide you with clear subject material to learn from. In return, we ask you, our listeners, to please give us feedback and suggestions, so that we can deliver the best content for you!
What’s on the next episode on www.FinancialResource.org? You the listener can decide. Log on, subscribe as a member, and provide us your suggestions on a financial topic you would like to hear more about. We look forward to hearing from you!
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This entry was posted on Tuesday, February 26th, 2008 at 10:45 pm and is filed under Financial Markets, General, Investing, Podcast, Real Estate, Spending. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.