“Riches” Defined In Financial Terms

“Riches” Defined In Financial Terms

Passive income is the secret to achieving Financial Freedom!

Passive Income is income you do not physically have to work for.

It is your money working for you!

How do we define riches in financial terms:

Financial Independence:

• When your passive income exceeds your expenses.

Financial Freedom:

• When your passive income is double your expenses.

Well Off:

• This is the first level of riches, when your income is at least three times your living expenses
• This income must be indexed to inflation

Financially Rich:

• When your passive income is R100 000 per month indexed to inflation

Super Rich:

• When your passive income is R1 000 000 per month.

In order to achieve the freedom of being financially secure, you have to learn how to manage your TIME & MONEY.

The more effective we manage our time and money, the richer our lives will be!

Success in life has nothing to do with show, glamour or pose.

Success depends on doing the basics – the fundamental things – right!

Managing your time and yourself is one of the most fundamental things there is. The only way to do this is to take responsibility for your own life!

Only by taking full responsibility for our own lives can we become successful entrepreneurs.

One of the truths of live is that if you spend more than you have, you will run into serious problems. Most people live above their means. If you live above your means you will never be rich!

If you live above your means you are not taking responsibility for managing your money properly!

Keep your goals clearly in mind and make changes to the HOW you do things, not to the WHY or to the WHAT you do…

The journey towards wealth creation is a process that is not perfectly straight and clear.

Do not be afraid of making mistakes and work backwards from your end goal..!