Many people are oblivious to fact that they could be sitting on top of a potentially explosive, ticking tax bomb that is continually being fuelled by rising house prices. The tax in question is Inheritance Tax (IHT), a non-discriminating tax that doesn't target only super-rich.

Let's consider whether you have a potential problem.

The IHT threshold means that tax on assets valued up to this amount is payable at a ‘nil' rate. This includes your property as well as your savings, investments, insurance policies not written under trust and business assets (subject to availability of relief at 50% or 100%). The value of your estate above this threshold could be subject to a tax of 40 per cent, depending on who inherits your estate following your death.

Protecting your assets from Taxman

If you haven't done so already, first place to start is to write a will. This will ensure that your assets are distributed as you want them to be when you die. Provisions to mitigate IHT can also be included.

Assets transferred between spouses are exempt from IHT, but other lifetime gifts could also be made in a more tax-efficient way.

It's about having an ideal lifestyle - being able to have control over your time and schedule, having no one ordering you around, not having to look at price tags every time you go out shopping, and just enjoying freedom that you truly deserve.

But why do many people fail to achieve financial freedom? Through experience, I have observed that they have limited belief.

That's problem with most people. They have set up a boundary in their minds. This barrier stops any possibility of surpassing current limits of their belief.

For example, many people would think that their boring day job is all that they're good enough for. They do not like to think outside box. They do not grab opportunities that are theirs for taking. Fears and doubts have been causing them to miss these golden chances of a lifetime.

There are plenty of opportunities out there. They may enroll in night classes, do some research on how to make more money, or start an internet business.

When I was just starting my online endeavors, all my friends and relatives (with exception of my internet marketing friends, of course) would discourage me in entering this venture. They would repeatedly inform me that I'm wasting my time and nothing good would come out of it.