What Is "Personal And Financial" Independence?
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What does it really mean to have personal and financial independence? The answer usually depends upon the person to whom you ask the question. Everybody has their own ideas of what those words really mean to them.
Here are characteristics that we are placing value upon as they each relate to our use of the terms inside of our SDK Collaborator Group.
- Income whether you work or not
This means that income comes to you whether you are directly involved in the work or not. An example, of this would be if you had residual income from investments or royalties from a business you owned. You would have income due to you even if you were to go on extended vacations without notice.
- Adequate capital for the deals of your choice
Being able to successfully acquire and exploit any business deal that you choose and not to be limited by funds, is the idea here. Of course, you have the choice always of what deals to choose from, but it is clearly a good situation if you had a lot of freedom in your decision-making.
- Ownership or control of valuable money-producing properties
Most people think of real estate when they hear the word property. For us, the idea is to own other kinds of properties as well. For example, owning copyrights, patents, trademarks, chemical formulae, etc. are just as profitable, valuable, and important as real estate.
- Mostly free time (at least 80%)
Free time in this definition means (uncommitted time). That is, your schedule should be extremely flexible so that you can do as you please, whenever you please, and for as long as you please. That is our definition of free time.
- Legal & Ethical Functions in Society
You must be useful, legal, ethical, and of value to your family, community, and country such that you can establish a proper legacy in which those around you can be proud and thankful for your contributions to society.
- Be debt free
In many ways, the world seems to run on credit and debt. However, as useful as it is to borrow at times, there is a dark side to the process. If by doing so, your independence and personal freedom are placed in jeopardy, then it is not good. Your personal and financial independence will be much more secure if you eliminate debt and then avoid it altogether as much as you can.
- Proper health care for yourself and your loved ones
Concern for one’s health or the health of loved ones will certainly cause you to have a difficult time focusing on other matters. Such concerns will naturally generate anxiety and worry.
- Financial security for your loved ones
Most people who are striving for financial independence will readily admit that their success would not mean nearly as much if it could not be enjoyed by those who are close to them. There is a reason why one strives for the luxury of being able to care for those that they love and care for. So, securing the well-being of your loved ones is a natural goal to have.
- Have capable associates willing to assist you
Even the most capable business people cannot function entirely by themselves. You will make much more progress when you have people around you that you can trust and who can trust you to assist them regarding business projects or to just provide advice and counsel.
- Lots of continual opportunities
You will never have too many opportunities around you. It is because of opportunities that your business and money-making efforts will produce profits. The more opportunities that you are constantly exposed to the greater will be your choices and your rate of progress.
- Have business activities that you enjoy
When you are involved with activities that you enjoy, you can better maintain a positive attitude and enjoy whatever you are doing. Your emotions are much more stable when you are having fun and enjoying your surroundings.
- No employee issues or other concerns
The manner in which your business and financial affairs are handled will have a strong influence on how stable and reliable your business functions. So, part of this process is to avoid employee concerns and issues. We will provide you with the necessary guidelines to handle this properly. It should be understood that your goal should always be to reduce or eliminate worry and anxiety at all times.
- Business tools that leverage your efforts and time
Technology can and should be your “friend”. You should surround yourself with the most beneficial business tools that you can so that all of what you are doing can be done faster, more efficiently, and with all of the important safeguards that you should want to have at your disposal.
- No restriction on “cherry-picking” a new opportunity whenever you wish
There should not be limits of any kind that could prevent you from expanding your profits in any way that you want and at any time you choose.
NOTE: Our blog provides useful guidance, suggestions, and information regarding entrepreneurial activities, small business consultations, and business strategies. However, we only provide specific instructions coupled with one-on-one consultations regarding our strategies to our private clients or to members of our SDK Collaborator Group.
This article was written by SDK Hunter Consulting Group
About The Author:
Sherman Hunter and SDK Hunter Consulting Group staff consultants provide global moneymaking opportunities and proprietary strategies that quickly accelerate business activity. You may familiarize yourself with these unique concepts by visiting the SDK Hunter Consulting Group blog located at: https://sdkhunter.com
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