Part 4/8:
Creating a detailed list of three to five essential lifestyle enhancements, estimating their monthly costs, and collating that information into a concise financial freedom number provides a target. This foundational number can guide your financial planning and prevent the journey from becoming overwhelming.
Stage One: Reliable Cash Flow Positive Income
The first stage on this journey revolves around attaining reliable, cash flow positive income. This often translates to maintaining a stable job. The fundamental mistakes many make at this stage include neglecting the importance of being cash flow positive while trying to find entrepreneurial paths. Achieving economic stability through a reliable income is paramount, as it lays the groundwork for future investments.