If you’re like many Gen X and Millennials in the US, you’re kind of accustomed to being in dire financial straits. As an adult, you’ve experienced at least one, if not two recessions, and housing prices are through the roof. You still have college loans, for a degree that you’re not sure you want to work within. Reaching financial independence is more and more critical as you age, but the economic complications feel stacked against you. How can you reach financial independence and retire early, or at all, in this economy? It might be more possible than you think.
Start a Business
One of the best ways to reach financial freedom is to start your own business. If you steadily pay yourself a tenth of your income and invest the rest in both your employees and your business needs, you are on your way. Being able to brand yourself and gain information on your targeted demographic is as easy as a few clicks away, in the internet age. Gaining those specialized skills which can lead to financial success can be a lot closer than you think.
Go into Real Estate
It’s a great time to go into real estate, whether in your local market or another nationally or internationally. The best way to learn how to do these things is to go into Real Estate School, which can give you the option of knowing your local market and how to enter it. There are more options than ever for this, now. In-person classes puts you at the mercy of a set schedule. Online classes, however, give you the chance to go whenever you’d like.
Peer to Peer Lending
If you have built your business and real estate or bond holdings, it’s important to be able to realize that your money needs to work for you at all times. This can start by using your own money to be the bank in a Peer to Peer lending situation. This can give you the chance to both help other small businesses, with a contract for them to pay you back, of course.
Learning how to build a business and then your financial holdings can be a real and tangible way to provide resources for your family. Real estate can be a way out of debt, when you learn how! This gives you the freedom to retire, even early!
Looking to turn your passion into a business? Visit Framework 4 Freedom to learn how!