Financial freedom is one of the popular dreams in the world. Once you achieved it, you are free from the “money cage”. You can quit your job! No matter how difficult it seems to be, we shall try to achieve it. Even if you failed, you still well ahead to many people who not knowing anything about money and just let their life ruined by unexpected events and unknown actions.
Over the past five years, I have read many personal finance books e.g. Robert Kiyosaki, Donald Trump, Adam Khoo, Milan Doshi … … I must say that I like Adam Khoo’s book very much since it provides much more practical guides to help you to take action.
Over the past five years, I have read many personal finance books e.g. Robert Kiyosaki, Donald Trump, Adam Khoo, Milan Doshi … … I must say that I like Adam Khoo’s book very much since it provides much more practical guides to help you to take action.
Yes, I am taking the action now and formulating my financial freedom road map! Actually it is a revised version since I had done it two years ago. I choose to re-do it again to provide me a clearer picture to achieve financial freedom in life.
First, it is important to know why financial freedom is important in life. Enclosed are some of my personal feelings.
Q&A:
My Desires and Lifestyle
Dream lifestyle: Obtained financial freedom, live to do my interested things instead of working for money
Travelling: I would like to stay in a decent hotel and no more youth hostel during travelling around the world.House: I want to get a beachfront house or condominium.
Car: No more Proton car. I want to drive a safe and high quality car from Toyota, Honda, and Mitsubishi etc. Prefer the Mitsubishi Lancer.
Contribution to Society
I want to help to increase awareness of public about financial planning in life.
I want to help old generations to get sufficient medical safety net.
I want to adopt children from poor countries to help them finish their primary to University study.
Family
I want my parents to have a healthy and comfort life. Sufficient money to buy some good ‘direct sales’ stuff, milk etc to ensure healthy.
I want to support my mother to travel together with her sisters. No more debt.
I want to have money to pay my parent medical bills.
I want to help my brother and sisters to gain financial freedom.
I want help my brother to quit smoking.
I want my parents to have a healthy and comfort life. Sufficient money to buy some good ‘direct sales’ stuff, milk etc to ensure healthy.
I want to support my mother to travel together with her sisters. No more debt.
I want to have money to pay my parent medical bills.
I want to help my brother and sisters to gain financial freedom.
I want help my brother to quit smoking.
Health and Personal Development
I want to have a good health to enjoy life.
I want have a membership in a club so that I can go work out.
I want to be a registered real estate agent so that I can get the first hand information to buy real estate.
I want to have a good health to enjoy life.
I want have a membership in a club so that I can go work out.
I want to be a registered real estate agent so that I can get the first hand information to buy real estate.
Financial Goals
I must own the passive income RM3,000 per month in next ten years (2020).
I want keep the Debt-to-Equity ratio to 0.2.
I am committed to develop new passive income streams: (1) insurance products, (2) dividends from stocks and (3) real estate.
I target to save RM500 per month during PhD study. Afterwards, I target RM2,500 per month.
I want to have net worth of RM0 in Jan 2015.
I must own the passive income RM3,000 per month in next ten years (2020).
I want keep the Debt-to-Equity ratio to 0.2.
I am committed to develop new passive income streams: (1) insurance products, (2) dividends from stocks and (3) real estate.
I target to save RM500 per month during PhD study. Afterwards, I target RM2,500 per month.
I want to have net worth of RM0 in Jan 2015.
Reference:
(1) Adam Khoo, "Secrets of Self-Made Millionaires"
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