10 Tips For Achieving Baseline Financial Freedom

Published: Oct. 14, 2020, 3:37 a.m.

b"both me and simon are on our ways to achieving financial freedom and we're going about it in very different ways to each other with me i'm focusing on online passive income growing my income streams through there getting what i call pseudo financial freedom first and simon is focusing on building up his property portfolio and he's working for someone else or working with his brother and part owner in the business over there so we thought we would share some of our best tips on how to become financially free and things that we've learned on our journey along the way so hey simon thanks for coming on and sharing today yeah yeah really excited about this one one of my favorite topics as we all know yeah both you and i have been very passionate about financial freedom i think your rich dad poor dad and those books really started it for me what about you what got you passionate about financial freedom over other investment goals the funny thing is it wasn't something that was really talked about in our family until sort of recent years so i never really knew what financial freedom was and every single person in my life was still working and nobody actually had any level of financial freedom that i was aware of um so it was only really when i started to kind of actually start taking action and start creating my plan where i realized oh financial freedom is something that we can all achieve yeah and so just so people know as we get into this each of our stories simon has purchased three investment properties in the last 18 months massive achievement congrats on that two of those being investment properties one being is own home so that's kind of his plan is i guess working in a job using that money to invest in properties and achieve financial freedom that way i've achieved what i call pseudo-financial freedom through my businesses so had businesses that kind of just worked for themselves and i didn't really have to work much i then ended up in a bunch of debt and wasn't financially free anymore and i'm pretty happy to say that i've worked myself out of that situation and i think if i stopped working today my businesses would again run themselves for multiple years and i wouldn't have to work so i'm not financially free yet but i've kind of built up that passive income stream online and then eventually i want to invest that into property as well so i've achieved it lost it and then kind of achieved it again and now i want that long term so we've both been on the journey we're not completely there yet but we've learnt a lot along the way and we want to share that and so do you want to go first simon with one of your tips for achieving financial freedom and moving towards that yeah definitely \\n\\n\\n\\n1: Have a Clear Plan\\n\\n\\n\\ni think this is you know on both of our lists no doubt about it so maybe i can share my thoughts on um on this and then you can talk a little bit but it's having a plan and having a clear plan at that as well so that is the number one way to achieve financial freedom because the reality is there is so many different ways that we can do it you know you're going through the business avenue i'm going through the investing avenue there's so many different ways to achieve the same thing so rather than trying to pull lots of different pieces from all of these these different places um you know honing in on one and creating a plan with that one in order to to get to where it is that you want to be so for me it's kind of thinking all right well where do i want to be in the future or where am i going to be happy in the future and there are then reverse engineering and back from there so right now for me it's kind of replacing the average australian household income somewhere between 80 to 100 000 because that's going to give me options that's going to give me choices to do what i want when i want and all i need to do is reverse engineer that back utilizing my plan which is focusing on investing in properties paying off the de..."