But do you really know what it means? Does it mean having a stable job and live life without debt? Is it enough? How do you know if you already achieve it?
Well, according to the book 'Secrets of Self-Made Millionaires' written by Adam Khoo, there are Four Levels of Wealth which...
Level 1: Financial Stability
Achieved when
- You have enough CASH to cover your current expenses for minimum of 6 months. Example if your expenses are RM3000/month, you need to have cash of at least RM18,000!
- You have life and hospitalization insurance to cover your family in case anything happen to you.
Level 2: Financial Security
Achieved when you have PASSIVE income to cover your MOST BASIC expenses which is house, transport, food, debts and insurance. PASSIVE income are income generated from saving dividends/interets, royalties etc which is auto-generated without you working on it ya!
Level 3: Financial Freedom
Achieved when you have PASSIVE income to sustain your CURRENT LIFESTYLE. Means if your current lifestyle need RM5,000 per month, then your passive income must be able to generate RM5,000 per month la.
Level 4: Financial Abundance
Achieved when you have PASSIVE income to sustain your DESIRED LIFESTYLE. Means if your desired lifestyle to live in bungalow, wearing designer's clothes etc, then more of passive income you need to generate.
So....you see....it is not sooo easy to achieve the financial freedom. Of course, the more your expenses are, the more you need to earn and save to GENERATE PASSIVE INCOME.
So, tepuk dada tanya selera. Which level you want to have and When?
This is why I'm running 3 jobs now...my full time job, part time business and soon another one job.
I'll be turning 30 next year and I don't want to have the same life I'm having now.
Are you with me? Let's work for our dream together. You can dream as high as you can but no one will make it work for you other than YOURSELF!
Call/text me 017-6606423.
Love,
Nurul Hafizah Hairi
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