Project Financial Freedom - Can I make it in 90 days

Previosuly i set a challenge to burn my fats and transform my body into one i am proud of in 7 weeks and i made it.

This time, i will also give myself 7 weeks to set up a profitable biz! Lets do it!

Resouce for Value Investing

Here are 2 great resouces for value investors.

1) www.gurufocus.com

This web has information on the investment guru's personal portfolios.

So through this website, i can find out a lot about Warren Buffet.
- What stocks he bought
- How much of the stock he bought
- What price he bought the stock at
- When he bought.

So imagine, i can track these stocks and buy it at a price lower than him when there is market correction.


2) http://www.gurufocus.com/fair_value_dcf.php

This is a discounted cash flow calculator where i can key in the ticker symbol of the stock i am interested in and this calculator will help me derive a perceived intrinsic value.


Do check it out and add this to your arsenal of tools for value investing.

Concept for Financial Freedom College

School Module
Basic
Concept of Money Game
Mindset and language of wealth
Concept of Passive Income – scaling value
How to Increase Value? Increase your Value
How to Reach More? Amplify your value
How to take me out? - Clone your value
Concept of Investments
Common Phase
Money Management and Strategies
Self Discovery
The 4 Qn
What you love
Your gifts
Things do to make life complete
Things you do if you are totally free
Specialisation
Mastery one at a time
The losers in the game
Not Important
Most Important – too important
The truth. It is just a tool.
Problem:
People work for it all their lifes. Once stop working, can only depend on savings, once savins is used up... no choice but to work again or depend on others
FF -
Common Man's Definition
no debts
huge amount of savings
FF College's Definition
Ability to stop working and sustain current lifestyle
FA -
Ability to not work and sustain desired lifestyle
Strategies (less inflation first)
Common Man's stratgey
Work Hard, save up and put in financial insitutue and banks
E.g.
Current Lifestyle requires $5k
1 Year = $5k x 12 mths = $60,000
Strategy 1
Retire at 55 years old and aim to pass on at 70 years old
Therefore, have to sustain 15 years.
60 x 15 years = $900,000
Start working at 25, retire at 55 --> 30 years of working
Save 900/30 = 30k per year
Problems Faced:
Difficult to save $900k
What if last beyond 70 yearsold?
Strategy 2
Create income stream via interest from bank
Interest from bank must be $60k
Bank Rates estinate = 2%
There Savings x 2% = $60k
Savings = $3million
Problem
Difficult to get $3million
FF College Stratgey
PIOI + Saving x i/r + Inv X ROI = FF Amt Per Year
Learn
Investments
How to increase ROI?
Choose Strong Company
Options Sales Strategy
How to Compound Inv amt?
Passive Income
Rental Income
Biz

The Money Game

Life is like a game and money is one of the areas we got to manage in order to win the game of life.

In fact, if we learn to play the money game well, we could potentially win big in the game of life. But very often people do not manage money well and fail badly in the game of life. These people usually fall into the 2 extremes of beliefs:

1) Money is not important...
Is that true? There are many talks about money, saying that money can never make you happy, money in the root of all evil etc.

The truth is money is nothing but a medium or "tool" in order to exchange goods. In fact, it is the final good that is important to us, goods like food, shelther, water, medical, education, - any kind of good and servcies.
And the amount of money you can afford on each of this good will largely determine quality and quantity you get. Like a bigger better house, better medical sevices etc...

And how many other legitimate ways can we get theses goods now without using some form of money (cash, cheque, credit card etc). Well, we could work for them and not get money involved, but this will bring us back to the bulter trade days wouldn't it?

So i would like to suggest this fact that money is important and we better learn to play the money game.

2) Money is Everything!

Now, we come to the other extreme. Some people treat money like it is everything in the world. They become addicted to money so much so that it is painful to part with money.

Some of this people eventually become socially recognized as "rich" because they manage to accumulated huge amount of money, but the truth is they are no longer able to spend it at free will without feeling the joy.

They buy a new house for their family but grumble whole day about how expensive it is and how they got cheated in the renovation etc... They buy a new car and complain that the fuel comsumption is too high...

They no longer see money as a tool, but they see money as part of their identity...

That is too much!

Winning the Money Game

I am setting up this blog for my children...

Unlike the conventional method of leaving behind some sum of money, i want to leave behind the strategies to win the money game for my children.

Why? Why not just leave behind the money?

The truth is, it is more important to develop the financial muscles of my children. should they receieve money without the financial intelligence or muscles to manage it, it will soon be spent and worse, because of the lifestyle they may choose to take, they may get into financial distress once the money is used up.

And if i train them up, giving them the ability to become financially abundant, they can create wealth anytime they want and know how to manage these wealths.

The money given to us is from God and it is my duty as a father to teach and train my children to be good stewards of God's money.

So, to my children, here are the essentials and strategies on how to win the money game...