5 wheels that guarantees financial freedom

Good morning!

There are broadly two sources of income. There is people working for money, and there is money working for money. There is linear income and there is non-linear income. Linear income is the direct exchange of time for finance – it is limiting. Non-linear income is passive or residual income, its income coming not from the direct exchange of time for money. Whatever it is that occupies your time today, you need to find a way to begin to not only generate extra income, but to generate passive income.

Financial freedom is when your passive income exceeds your living expense. There are 5 key sources of passive income that are currently available. These 5 sources are opportunities that will enable you to achieve financial freedom in your lifetime and also leave a legacy for the next generations to come. You can develop passive income streams in any of them. I usually recommend that you play in all, the generally accepted avenues to this passive income include: Real Estate

1. Real Estate: Many people wonder what is the meaning of real estate? I jokingly say to people it is the only estate that is real. However, real estate was originally known as Royal Estate that was basically meant for kings. It is an income generation engine that will always be significant, it is most secured and long lasting and can give you good earnings, and most rich people invest or keep their money in it. Income generated from this wheel of income is known as rental income.

The capital required to invest in real estate is usually high and that is why many people believe they do not have the opportunity to do it.
You can become a player in the real estate business world by accumulating money in your escrow account till you are able to take advantage of opportunities that will come your way or generating funds from other sources. It is said that opportunities only come the way of people who prepare for it.

Real Estate is the first wheel.

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