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Use any of
10 following ways to become financially free. In an informative article, find pro’s and con’s for taking any of
“10 routes” and practical advice for doing so.
THINK BIG AIM HIGH!
10. WIN A LOTTERY – okay,okay I know a lot of Internet Guru’s, life-skill advisors and writers who will cringe when they see this. But there are ways of increasing your chances. At
time of writing,
odds of winning
U.K. lottery are around 14- million to 1.
There are a number of ways to improve your chances of winning –
a) Play regularly,
more you play,
better your chances. b) Join a syndicate,
more lines you cover
better
odds. c) Use
same numbers, a great number of people who win cash in
lottery use a fixed set of numbers e.g. birthdays of family members, memorable dates, phone numbers etc. d) Try wheeling pairs, you can find more information about this technique at http://www.thelotterysite.com/predicting.htm.
Pro’s – You can become extremely wealthy or be a Millionaire overnight. Con’s – The cost, each line has to be paid for,
odds are still very high. If in a syndicate you will have to share your winnings.
This shouldn’t be viewed as a good route to take for anyone that wants to be financially free, but if you have a few quid spare, you can be lucky. Maximum return for a minimal investment. Somebody wins every week, you are as lucky as anyone else.
9. MARRY FOR MONEY – Oooh, that’s gonna go down like a fart in a lift! Highly unethical, not recommended, but are you dating?
Does it matter how much your partner is worth? 70% of people end up in dead-end relationships, unhappy and broke. You have
choice of marrying anyone you decide to. 37% of people marry for convenience, children, because they get pressured or for legal reasons.
Before you marry anyone, find out if they can support you. Don’t just settle for second best, if you are NOT totally in love with
person you choose to marry, make sure they are loaded. That way at least whatever problems you have to put up with in your marriage, money won’t be a worry. If you get divorced, you can expect to receive a reasonable settlement figure that will help to insure that you are catered for financially.
Pro’s – If your partner is elderly you are likely to receive a majority of your spouse’s estate, Money makes Money, if you marry a wealthy person
chances are you’ll have good opportunities to make your own fortune. Con’s – You make your bed you have to lie in it, whatever happens you are responsible for
decision you made. You may be pressured by family members if they “get wind” of what you are doing. You may be asked to sign a pre-nuptial agreement voiding your stake in any fortunes.
8. SECONDARY INCOME – These days it’s not uncommon for people to have a second job in order to boost their income. Most people struggle to pay every day bills and expenses let alone afford to have savings or money to spare. Your second job should also generate a large enough income to justify
extra hours you work, but not effect your main income source.
“ I had a good friend who worked 2 shifts daily at a paper factory, at
end of each month he took home over double a normal wage”. “I also used to be a retained firefighter and in a month could earn anything up to £1000.00 in addition to my normal monthly wage”
Pro’s – With a second income, you should earn enough to ensure a financially secure future and be able to afford a few luxuries. Con’s – How long you can keep a second job going. You will be exhausted And have very little spare time at all. You could be liable for higher taxes which would not make it viable. Your employers may object to you having 2 jobs, you may loose one or both of them. 7. AIM HIGH – You want to be
boss, are there promotion prospects at work? You could work every extra hour available, be dedicated and if you are successful you may even be head- hunted.
“ I employed a sales rep for £18,000 per annum, after 2 successful years he was headhunted by a competitor who eagerly paid him £25,000 per annum + car + bonuses + pension. Another year later he was promoted to assistant manger earning over £35,000 per annum + bonuses etc”.
You should be frugal with your money and invest in multiple pension plans over
next few years. You should pay off your mortgage early (if you can afford to pay a little extra each month you will pay less interest) and be more financially secure by
time you retire.
Pro’s – If you are headhunted, you can expect higher wages with superior benefits, e.g. company car, pension, bonuses etc. If you work your way to a top position within a large corporation your remuneration package should be substantial enough to make you financially free. Con’s – There will be strong competition from colleagues, by
time you are in that sort of position you will be highly stressed, burnt out and will have had to sacrifice most of your spare time and family life.
6. BECOME SELF EMPLOYED - How well do you know your job? could you do it better on your own? Your bosses have a lot of every-day overheads, any profits are for them or
company’s development.
You can give their customers
same service for less. There are many organizations set up specifically to help people get started in business for themselves (this helps your government keep unemployment figures down)
e.g. “ I left a company I worked for after 14 years, became self employed and at least 20 of
company’s customers gave me their business after only one phone call, because they already knew me and it cost them a lot less for my services”.
Pro’s – You will be your own boss. You will keep all profit. You work
hours you want, overheads can be minimal, you only have to work with who you want to.
Con’s – The buck stops with you, it can take a little time to adjust and establish your business, If you don’t work you don’t get paid.
5. START YOUR OWN COMPANY – Once you are self employed or, you have some capital (e.g. inheritance, lottery win etc) why not employ others to do your work for you. You may reach a point where you have too much work and you will have to choose to turn down addition work or take on more staff. Run properly, a larger company can provide comfortably for you and your family for
rest of your lives. Once established with a good customer base, it can be sold for large sums of money.
Pro’s – Successful business can result in almost anything, e.g. look at Richard Branson’s empire or Stelios from Easy Jet. Con’s – There are many con’s against running a larger company. “ In
14 years I worked for
same company, 1 employee left, setup on his own and took clients TWICE ,
company secretary was stealing from
business for over 5 years, Your employees do not have
same interests as you in your company and you will have to clear up any problems they create. You will need to be
first one in and
last to leave and work every hour you can if you want to be successful.