Showing posts with label finance. Show all posts
Showing posts with label finance. Show all posts

Monday, July 28, 2008

Financial Independence

Everybody wants more money right?
Not just for having money, or for just the material things that money can purchase (but what is wrong with a Porsche 911 in the driveway?), but also for all the good it can do.

I already send some of my paycheck to a local charity Miami Missions, but if I had a lot more money, I could help them and a lot of others too.
I have read quite a few good books on how to get wealthier to help me on this mission, Think and Grow Rich, Retire Young, Retire Rich, just to name a few.

It seems to me the only way to make more money, is to have whatever money you
have work for you. Diversification of efforts can be great to move faster and be more flexible.
If you only rely on a job to be your sole source of disposable income, you are definitely limited by an unmovable factor - time. You cannot work for more than 24 hours a day and that limits how much money you can make.

So I've looked at the following options to increase my ability to obtain more income:
  • enter the stock market
  • purchase real estate / invest in a rental property
  • start a company
These are all very daunting tasks, but trust me they are worth it. The returns can be great - if you are smart about how you do each task. I'll post some information about how I did each of these three in the near future.

I'm still looking for some great ideas to start a company, so if you have any, please let me know, maybe we can collaborate on something that will change the world!