There are very few Canadians who can forget the recession of 2008 and it has left many, more than concerned about a solid and stable financial future. If you want real financial freedom then you simply have to take a hard look at your finances and spending habits. For the majority of Canadians, what they once considered to have significant value now holds very little. Many have seen their pensions shrink and many more have been left without employment. If you want
and a dependable retirement savings, it's time to take some necessary steps.
A little truth for all: if Canadians could learn how to secure their own
as easily as they can learn to parasail there'd be nothing to really worry about, would there? Well, just a minute--parasailing isn't all that easy for everyone and neither is achieving improved money management, but this doesn't mean either are impossible feats, right? That's absolutely correct, and in order to improve and grow you have to educate yourself, which is where it all really starts!
We want you to remember,
is about your choices, because these can lead you to a precarious financial circumstance, or they can lead you to real financial freedom and security later in life. Let's discover the tips that can really make a difference in your life now!
5 Real Steps To Financial Freedom
You should be earning more than you spend:
To achieve financial freedom you have to let go of indulgent spending and think more conservatively. Real financial freedom will allow you to "roll with the punches". Stay on your toes and be prepared for the unexpected.
Start An Early Investment in
Participating Life Insurance
Participating life insurance offers you dividends you never have to pay back, unless you want to. You can use these to invest in more insurance, or get the ready cash. You can also leave them be to earn even more interest. Some of these can also be sold back, it just depends on what kind of plan you invest in.
You have to consider all future expenses:
You shouldn't forget to plan for expenses later in life, those that are easily overlooked. Medical and dental costs can add up quick when you don't have that budget for them. Also, taxes never stop, so make certain you plan accordingly for all of these areas.
Calculate your disposable income accurately and reassess where necessary:
Keep a running tally of all of your major monthly expenses, and don't forget to add in those things like: groceries, property taxes and even changes to inflation that can limit your disposable income.
Shift to investments that are guaranteed to give you a financial return:
Investing in stocks is risky no matter how you look at it, but investing in guaranteed services and products known to bring high ROI's is just smart. Forget about the small low-risk investments and move to those that won't put you at a high financial risk, but will be rewarding.
Real financial freedom comes to those who plan for it and make financially smart decisions early in life. It's never too late to
achieve financial security
at all, but it is best if you can get a handle on strong financial making decisions early in life, if you plan on properly preparing for the future!