If you dream of financial freedom but don't know what it means or how to attain it, you're probably never going to realize your dream. True financial freedom means having a reliable, sustainable and growing income stream that allows you to live life on your terms. To get on the path to financial freedom, you have to set your goal to create that income stream. Setting a goal will give you the determination to find the right path and the courage to stay on that path, no matter what obstacles you might encounter. There are essentially three paths to choose from on your journey to financial freedom. Only one of these paths leads to true financial freedom for life, and is obtainable by anyone.
The first and most common path to create an income stream is to sell stocks. The problem with this path is you don't know how long you're going to live, so there's always the disturbing possibility you could outlive your portfolio. The second path to create an income stream is to invest in low-yield dividend stocks and fixed income assets, such as bonds and annuities. The problem with this path is these assets have very low rates of return, so they require a very large amount of principal to generate enough income to be financially free. The third path to create an income stream is to invest in high-earning, high-yield dividend stocks. If you take this path you don't have to sell stocks and you don't need a large amount of principal to generate a large, reliable, sustainable and growing income stream that sets you free to live life on your terms.
Albert Einstein famously said “Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it.” Like compound interest, compounding dividends harnesses the power of the snowball effect that occurs when your dividends generate even more dividends. The day you start taking advantage of the snowball effect is the day you begin your journey to true financial freedom.
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