Financially Free?

[MDZ]

To me and I bet you would agree it comes down to having that healthy balance of both.

Right on man, right on.

[gijoe9]

My approach has changed a few times since this all began. At first I figured to go into the stock market with a small amount of cash and try to grow it in time to an income producing asset that would keep the light and heat on in my life. Through various changes in my life and my attitudes I now pursue financial freedom through a combination of steady work and accumulation of assets. I am now the proud owner of a 2008 Ford Ranger 4x4 Idea being I can use it for additional work for cash. I own or will own all the tools I need to go into business for myself as a rent a husband/handyman. I will use word of mouth and take on small cash only projects. When I am consistently making enough cash I will buy a house fix it up and flip it for lump somes of money that I can use to invest in the market.
Prior to the current incarnation of this process I would get very frustrated by my inability to aquire enough cash for investing. I was not genrating enough cash flow to make it worth my while to invest and my discipline was truly awful when I walked past the tool store. Now I have a better plan I feel and a more realistic aproach to executing that plan.

[White Omega]

Hey guys, just joined.

Well, my idea of this financial freedom came from Rich dad Poor dad and his Cashlow101 game. I grew up in a family that works to live for just another day (sad to say). When I finished college, I saw to it that I get a job and and here I am now (fast forward): Happily married (to someone who also understands that we have to build our asset column first, before adding a baby, which means we have none yet), and earning a lot from job.

Anyway going back to financial freedom, not yet. But my plan is the same with MDZ. I also am looking into investing on real estate, having it rented out, and investing on stocks.

Playing the cashflow 202 game, it draw from me a new behavior. A behavior that I am happy to have realized and would really like to put into practice. In the game, what I do is I secure first my monthly net up to a $8k then, invest on stocks only up to that a month.

Recently I have joined another forum in our country who are also into investing. Hopefully this works out well, and I'll find myself moving into the fast track by the age of 27 (I'm now 24)

I am also looking into asking my managers what they do for investing, you know just to see if I can get any new ideas.

Anyway, see you around guys. =)

[MDZ]

Hey White Omega, I was just wondering if you have made any moves into real estate yet?

[EvaluatingStocks]

MDZ,

What's your current view on real estate? In my opinion, with credit still extremely tight and foreclosures skyrocketing - there are some pretty good opportunities out there for those who have capital and are patient. I looked at several foreclosures this weekend and got a taste for how bad the subprime problem really was: we're talking tons of high-end foreclosed properties that banks are willing to unload at huge discounts. I think this situation may continue to get worse - but could bring windfalls for experienced, patient investors.

[MDZ]

We have all heard that saying, "The rich get rich in the good times, and richer in the bad times." Basically what I am saying is that if you have capital, knowledge, and patience right now, you can do very well in real estate. Obviously, things change from place to place, but there is always money to be made. Foreclosures can be a great place to start. If you do go in, make sure you can hang on to the property for a while without loosing out. There are a lot of people flooding the rental market in some areas, and if you plan to rent, you may get some vacancies. Or if you plan to sell, make sure you can sit a while and pay interest. Good rule to live by=Always enter with an exit plan, and even then have a few more plans for getting your money back if plan A goes south.

Keep us posted on your progress though and best of luck!

Mark

[roz_e123]

i wish i could be "financially free" i haven't ventured into the stock market, and have stuck to playing investment games online to test how that fares first or watching stocks in the newspaper and on yahoo finance, just to see how'd i do.

and well..i wouldn't do too well in all honesty, so using investment profits to pay for expenses would be great but doesn't seem like something i'm going to be able to do anytime soon.

a way i've been practicing my investing is on MyWallSt.net, it's this site where you're given "play money" and at the end of the week the person who's made the highest profit wins. but the spoils are real! you really do get $1,000, so it's pretty cool. i figure i'll start with that first before doing nething too hasty, i guess if i win the $1,000 a couple of times i'll use those earnings to get into the real market

check out that site though and give me some tips haha. =) cause i can use them.

[stockmarketreviews]

by investing regularly you can be financially free but problem is it takes huge time . if you want to be financially free in young age only option is start your own business .