Post Updated Last: March 2, 2020
Financial freedom and financial independence is everyone’s dream.
Are you broke and wondering how people are succeeding online and achieve financial freedom “just like that”?
What are their secrets? What do they do that you don’t? Or what can they do that you can’t?
Chances are, if you are a blogger or an online entrepreneur in general, you could be one of the millions who are dying to know the holy grail, the loophole, the secrets or… (whatever you call it) in becoming a millionaire online.
So, I have good news and bad news.
And the good news is … you too can do the secrets to financial freedom online lifestyle.
The bad news is… there are no “real” secrets, just the people methods that people secretly use (oh, I think it’s not really bad news).
So, let’s go through the secrets and get started with your journey to financial freedom online.
Table of content:
The Secrets To Financial Freedom [For Bloggers and Entrepreneurs]
- 1 Secret 1: Financial Freedom Can Start With An Online Business
- 2 Secret 2: Improving Your Personal Finance And Become Financially Independent
- 3 Secret 3: Add More Passive Income Streams And Become Wealthy Sooner
- 5 Final Thoughts
Secret 1: Financial Freedom Can Start With An Online Business
Being Poor Or Broke Is Not An Excuse
You might say, this is impossible but it is actually true. You can actually create a passive income online even if you’re broke. In fact, there are a lot of free platforms that you can use and start with.
As long as you can read, write and use a computer, you can always earn extra money online so you can support your online business in the start phase as well as your other personal expenses.
Online Business As Your Passive Income Generating Asset
What’s great about blogging and online business in general, is that they can become a passive income-generating asset. In the long run, your business becomes bigger and bigger as long as you keep working on it.
For example, once you make a product review from Amazon, you can still earn money from this review using affiliate marketing. Affiliate marketing is quite passive – like set and forget method of business.
For example, you write a product review (any product of your choice from Amazon [any other affiliate network]) and that’s it – you earn money every time people buy products on Amazon through your affiliate link (yes, all the products they buy as long as it’s within the time that amazon allows you to earn by referring people to their website).
Affiliate marketing business is really amazing and it can be a very lucrative business if you know how to do it right.
Online Business Is Infinite
Once you know how it really works, you can create as many product reviews as you like, as many product recommendations as you like, or as many online businesses as you like, to create as much as money as you want.
What did I just say? It’s infinite! The only limit is in your mind.
As long as your website is up and running, you will always have the business running even while you sleep and even when you die.
So, make sure you have someone ( a friend or a family) that can take over your business in case of death. Create a list of all your business connections like platforms usernames and platforms etc.
Don’t Take Your Business For Granted
The online business industry has come to stay and it will become more and more in the future. That’s why my biggest mistake was when I stopped blogging in 2009, just because I thought It was complicated and I don’t have time to learn.
Believe me, if you, even just for one single time, thought of starting a blog or any online business, do it. The biggest regret I ever had in this journey – was the wasted time for taking an online business for granted.
Time flies fast and you can not take a wasted time back, so don’t let yourself left behind. Don’t wait any longer. Get Started Now.
Secret 2: Improving Your Personal Finance And Become Financially Independent
Manage your Money And Not The Other Way Around
“Manage your money or your money will manage you”. This is very logically. It doesn’t matter how much you earn, if you don’t know how to use your money right, then you will run out of it every single time.
The main reason why 80 % of people in the U.S. are living paycheck-to-paycheck is because of the lack of financial education. Not literally a formal financial education degree, but an understanding of how money really works in one’s personal finances.
Some of My Popular Articles in Improving Personal Finance
- 7 Tips to Become Debt Free – Achieve Financial Freedom Fast
- Is $1 Million Enough To Retire?
- How To Retire In 5 Years
- How To Save 50% Of Your Income
- Managing Money For Children
- 4 Financial Tips For The 20s
- 8 Financial Tips For The 30s
- Top Financial Planning Tips For The 40s
- Top Financial Tips For The 50s -Catching Up
- 5 Financial Tips For The 60s
Save More & Earn More
The easiest financial advice to remember is to save more and earn more.
These are some of the hundred ways to earn money online that you can use to improve your finances.
- 15 Proven Ways To Earn Extra Money From Home
- 130 websites that pay $50-$30 per post
- 17 Proven Ways To Earn Money From A WordPress Website
- 15 Proven Ways To Make Money on FIverr.com
Secret 3: Add More Passive Income Streams And Become Wealthy Sooner
There are different kinds of passive income streams that you can start alongside your online business once you reached your success goal with it.
These are some of the things I personally do.
Invest in A New Online Or Onsite Business
Build another online business(es) and outsource all the tasks, for example, on Fiverr.com or hire your own employees.
Build an onsite business (of your own choice), hire people to manage it and earn passive income.
You should not be actively working on it in order to call it as a passive source of income.
Invest In Stock Market
All investment types involve risks. Make sure you get enough knowledge and proper training before you dive into any investment with a huge amount of capital such as the stock market.
It is always advisable to start small if you start investing in the stock market. I suggest starting in mutual funds, index funds, money market, and government funds while learning the stock market. These investments are more stable than investing in individual stocks on your own.
My husband and I have been investing in the stock market for more than 20 years. After all those years, I’m still learning. One of the things I learned over the years is that there is only one thing for sure in this kind of investment – the Unpredictable upswing and downswing in any given time.
Nobody can say when the market becomes bullish or bearish, it just happens. And even financial experts can not 100% predict what the market trends will be.
That’s how risky the stock market is. So, please take the time to learn how to pick a profitable stock and how to manage risk. And remember that there is a big difference between trading and investing.
Invest In Real Estate Business
6 Ways To Invest In Real Estate:
- Crowdfunding or Peer-to-Peer Property Investment
- REITs – Real Estate Investment Trusts
- Buy Rental Property
- Flipping Houses
- Rent A Portion Of Your Existing Home
- Buy And Hold
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