Sunday, June 14, 2009

What is Your Freedom Factor?

When are you financially free? You're financially free when you're living your dream lifestyle without having to work or rely on anyone else for money. It's when you are free to do what you want, when you want, with whom you want.

What is Your Freedom Factor?

Don't know? Try this!

1. When would you like to be financially free?

In one year
In two years
In five years
In ten years

Great! What's your plan to achieve this goal?

2. How much money do you need monthly to be financially free?

$10,000 or more

Great! What's your plan to receive this monthly income?

3. Multiply your answer from Question #2 by 200*. This is the amount you need to invest at 6%interest to receive your desired monthly income.

$ ___________x 200 = $

Great! What's your plan to accumulate this money?

So, what is your freedom factor? It's your answer to Question #3. Your Freedom Factor is "The Factor" that allows you to "Own Your Life". In this case, your Freedom Factor is the amount of money you would need invested in real estate, in the bank, in the stock market, etc. in order to become financially free.


Q. How much money would you need to save every month, over the next 5 year, to save $1 million?

a) $160
b) $1,600
c) $16,000
d) $160,000

Answer: C

"Can you save $16,000 every month?"

That's $16,000 a month after you pay for food, gas, utilities, credit cards. After you pay your mortgage or rent, car payment, insurance, etc.

The $1 million you saved would give you a royalty income of $5,000 a month ($60,000 a year). Whether you went to work or not, you'd get that money.

Here's the Good News. Some people have found an easier way to create $5,000 a month ($60,000 a year) in royalty income. Would you like to find out how?

Be empowered to prosper!

Irma L. White
A Mentor with a Servant's Heart

Info taken from Freedom Magazine Volume 1, Issue 3

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