Welcome in joining me in my journey to financial freedom at Investor Monkey!
I would like to share with you on my views of financial freedom, why I wanted the financial freedom and most importantly, what I will be doing to reach my goal of attaining financial freedom.
Financial independence(or financial freedom) is a term generally used to describe the state of having sufficient personal wealth to live, without having to work actively for basic necessities. – Wikipedia
Some people feel that attaining financial freedom is not possible, a group of them will only dream of wanting to reach that stage and some will take up the tools and start building their road to financial freedom.
Which group do you belong to?
I am single, and sadly, my current expenditure exceeds my monthly income and have got nothing left to save month after month. I decided that it was time for me that I have to increase my monthly income so that I could have at least some savings in case of unforeseen circumstances.
Starting on my investment “career”, I took on investments in shares, CFDs and forex. Two years past, not only I did not earn anything, I even spent every single profits I made along the way. It was only then I realised that I needed to become an investor rather than a trader.
After trying hard to cut on my expenses for a few months, along with the little miserable savings that I have left, I started to embark on my journey to financial freedom.
My currently expenditure was close to $3,000 (that’s madness for a single guy like myself) and knowing that I will need to save up as well, I decided that my passive income will have to surpass my monthly expenditure plus the amount that I had targeted to save.
I welcome any comments in helping me to fine tune my investment plans in achieving my goals of attaining financial freedom by the age of 38.