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You don’t need to be a millionaire

Many people think that they need to become millionaires in order to be financially free. But the truth is, you don’t – you only need to have more money coming in than what you can spend, but that money has to be coming to you without you needing to do any (or much) work for it.

And that’s the problem – how to develop something that will give you a passive income, so that no matter what you do, the money will continue to come in.

As long as you can build something like an online business or an investment portfolio that is providing you with a sizeable income without you needing to work at it, and that income is enough to pay for all your living expenses and lifestyle, then you have achieved financial freedom.

And you don’t need to be a millionaire to get there.

If the cost of your life is $2000 a month, which covers food, living expenses, even travel, then you only need to earn $2000 a month to pay for that. If the cost of living is too high in your area, then you could consider moving to cheaper area, or even a cheaper country. $2000 a month won’t get you much in Australia, but you could live like a king with that income over in Thailand.

However, it needs to be passive, so that it’s still coming to you even if you’re sick, or retired, or on holiday, or just enjoying the rest of your life without any concerns.

And developing that passive income is where the real challenge lies.

I’ve been brainstorming with myself for years about that. I’m still working on it. It’ll come to me one day. I know that I probably won’t be a millionaire, but I will achieve financial freedom.

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