The 7 Financial Freedom Milestones
After helping myself and coaching clients, I’ve found that there are 7 milestones that are important on the journey to Financial Freedom.
When you pass each milestone, you’ve made a big step towards your Financial Freedom.
Milestone #1 – Start Saving
Most people get stuck here.
They save only to spend.
Some people never save.
If you can save money for your Financial Freedom, then you have reached your 1st Financial Freedom Milestone.
Milestone #2 – Create Your 2nd Stream of Passive Income
The savings account is the first way to make passive income in the form of interest.
When you start a 2nd passive income investment, like buying a dividend yielding stock or bond, then you have made it to your 2nd Financial Milestone
Milestone #3 – Pay Yourself Your Passive Income
The key to Financial Freedom is to be able to pay yourself, instead of having to work a job or servicing others.
Once you start paying yourself your passive income, the profits that your savings and investments make, then you have finally come to understand the key to financial freedom
Milestone #4 – Automate Your Savings
The key to Financial Freedom is actually the system of automating your savings transfers and then investments.
For example, I have weekly transfers to my savings and brokerage accounts. Therefore the accounts just keep growing without me doing anything.
Then, every month, I check on everything, and invest for more passive income.
They system keeps my money and passive income growing.
Milestone #5 – Focus on Investing
Most people focus on spending.
If they ever start saving or investing, then end up spending it all, either for an emergency, or when they retire.
When you decide to use your money to free yourself, and you become an investor, then you have reached the 5th Financial Freedom Milestone.
Milestone #6 – Time Freedom
A lot of people get caught up in making money and they have less time!
When you have more time freedom, you know that you are at the 6th Financial Freedom Milestone.
Your time has become so valuable, that now you control how you use it.
You quit your job, take more vacations.and spend more time with your family.
You meditate, get massages, work out, etc.
Milestone #7 – Live Your True Purpose
This milestone is the most rewarding.
When you are living your true purpose, then money no longer dictates what you do.
Living your purpose brings you all the money and people and resources that you need to do your mission.
Some can skip right to this milestone, and it will help you have the strength and discipline to get past the other 6 milestones.
About Mey Duldulao
Back in 2011 I had over $30,000 in credit card and line of credit debt, was living paycheck to paycheck and was stressed out over my lack of success in my financial life.
In April of 2016, I became debt free and had a monthly passive income stream. I quit my job on December 23, 2016, and started doing my dream work of mentoring others on what I did to create the freedom to quit my job.
In 2017 we bought our first condo in Waikiki, and we went on 5 weeks of vacation (including a 7 day cruise to the Mexican Riviera)!!!
In 2018 we bought our first investment property!
I spend most of my time doing what I dreamed of for years, spending my days with my son Jordan and my husband Jomel, enjoying motherhood and being a wife. I also enjoy researching Financial Freedom and sharing what I learn with my clients and on my blog.
If you want to learn more about how I can help take back control of your money and your time, then CLICK HERE, watch the free video and get started!