The term ‘Financial Freedom’ is a common cliche that is pendled in most conversation involving moeny,investment etc…but what do we mean by saying that one has achieved his/her financial freedom,moreso in the Kenyan context?..Is it defined by having a defined bank balance i.e ksh.100million?Does it mean having passive investments that can generate certain amount of passive income>?what does this term really mean and how can one apply it in the Vumbistan context?
hii maswali mingi enda peleka KNEC wakuprintie into exam papers
wewe Al Shabab ni kama uliosha mkundu leo na crude oil badala ya maji
Kulipa lanye wa 5k bila kusikia uchungu na PNC
passive investments that can cater for you + your family
pesa standby ya ospital, usiuze nyumba na mtoto mmoja ndio utibiwe
maintanence money, usikae kwa nyumba ceiling ilianguka last year but 2
Ata ngoso ikiwa ngumu,please do not round it off to your nearest mother tongue.
At first, people chase money thinking that it is the ultimate answer to their problems. It solves most of them. However, after a few years of swimming in money, they realize that a man is a slave to his purpose and even money can’t buy that. That’s why Elon Musk is still obsessed about rockets and EVs ie a higher purpose than money. There will always be work to do and if money can’t motivate you, your passion or curiosity will.
Did you realise that you didn’t bother to answer the simple question OP asked?
Do you realize I don’t give a fk
To me financial freedom is, continuously investing in a 10% dividend return on capital invested stock ( which I do) then only taking out 40% of that dividend for sustainance only after reaching the 10million threshold. and re investment of the rest the portfolio will grow to a point I don’t need employment for income case in point is.
I grow my capital investment to 10,000,000 over time as I plough back all dividends. The year after reaching the threshold my divided will be 1,000,000 . I will take out 400,000 for sustainance. With this trend of taking only 40% of the dividend I will achieve financial freedom at around 15yrs after the threshold. I will be financially freee. and in 30 yrs of this trend my capital portfolio will have grown to 100,000,000.
The above formula does no could gains on capital that might have grown substantially. Making you achieve financial freedom even earlier.
do you consider diversification of your investment portfolio i.e venturing in real estate as another vehicle towards achieving financial freedom or you prefer only investments in stocks??
At first start with one every year add another to your belt, and make sure to not invest in the same industry twice as a pandemic hits industries .
The key is patient consistency and dedication to the course, so was told by another now financially free 52 yrs old Investor. Diversification must not be dwelt upon as much and 5 max is a good start for first years.
Thanks for your great insight