How to Become Financially Free at a Young Age

Tis said we trade youth for experience, and time for wealth. Well, to hell with that.

I want to be young enough to spend the money I make, and I want to make enough money to be young.

What good is the Ferrari when you can't even bend to get in it??

Here's how to be financially free at a young age.

1. Government taxes these three vehicles less than earned income. Other people respect you for it.

   Learn the three types of financial vehicles that the government and others reward you for. They are --

   1. Real estate
   2. Investments
   3. Corporations

   Each of these investment vehicles increases net worth, which is your main concern to become financially free at a young age. Most people are too concerned with income to be concerned with net worth, and you must have some income to start.

   The trick is to convert all income into one of these three investments and keep the money rolling over into one or the other vehicle until the end of time. Never take it out.

   So your first step is to earn or borrow income to invest in these 3 things.

2. Assess your personality. Pick the investment vehicle that best suits you.

   Once you have enough income to invest in the three vehicles named above, you must assess your personality.

   1. If you like people but don't have a business idea, invest in real estate.
   2. If you hate people, invest in the stock market.
   3. If you a natural leader, or have an idea, start a business.

   All these investments involve risk, and must be studied and monitored. No one said this would be easy.

3. Let your investments do your buying for you.

   Once that money is in one of the three vehicles, you must resolve never to take it out. Net worth can only grow when it is invested, and you don't need to have cash to be rich or financially free.

   If you want to take a trip, you borrow on equity -- you never sell investments. If you want a Porsche, you let your business buy it. Then you as an employee can drive it. When one goes down, roll the money into the other without touching cash, if you can. That's when it gets taxed.