ഫിനാൻഷ്യൽ ഫ്രീഡം അറിഞ്ഞിരിക്കേണ്ട കാര്യങ്ങൾ. | Financial Freedom


Welcome ! Financial Freedom was the first video we did. When we did the video, we did it with a lot of hope that all of our audience will view it and viewing so will be able to understand what financial freedom is and will be able to implement it. And that it mostly turned out the way i hoped for it to is what I think. Because so many people contacted our office also, some of them even visited our office and we discussed at length the whole concept of financial freedom. And how to implement it in their lives we discussed it and did whatever implementation needed doing. And seeing that, i thought, i have done a couple of videos on this and i thought i must link all of these videos and speak about that So, when we talk of each of the video, we’ll show a link of the said videos in a corner of this video In case you haven’t seen those and when you do see them you will get a clearer picture of it So, what is financial freedom ? Financial Freedom is that we have some lifestyle expenses and we also have necessity expenses. In order to meet these expenses, instead of working daily to meet them our investments or any asset accumulation and the returns we receive from them using only that to lead a prosperous life. That process of only relying on that return is what you mean by financial freedom. When we are free and devoid of any worry So, for folks desiring retirement or else, even youngsters who think of retirement, it is not retirement that they must talk about it is how financially free can you be is what you must think In order to enjoy retirement we must calculate the monthly income we would like to receive and if we can get such a return then we needn’t worry about retirement. So, let’s see on the financial freedom and first get to the formula and then we’ll see how we can go about doing it So, firstly, its a formula Now on this we did a video and this what I’ll be talking about. So, firstly so we all have an expense for instance assume your expense to be 50,000 per month So we just wrote the monthly expense so, if we have a monthly expense of 50,000 then if there is any income not the one we work for like interest or if we have a property and it is the rent of the property that we receive so all these instances do not require your daily involvement. It is just one time fd deposit or when renting out the property and the interaction around it that is all there is as a job for us. Now what is this called ? Passive Income. We’ve also posted a video on this so if you haven’t seen it, it will do you good to watch it. So, let’s see what the passive income is, and lets assume it to be 10,000/- so, how much is the shortage we get ? so, this is what we get as shortage. so, what we need out of necessity expenses Necessity expense meaning all like basically our food, our dressing and insurance has also been included like our medical or our term insurance on monthly, including all that that is. So we mustn’t have any more necessity expenses so where must this 40000 come from ? Either you have a salary of above 40000 or else we must have a business that makes that money Either, this amount must come from any of our active income if you get above 40000 what will happen, we won’t have any shortage, whatever lifestyle we have adopted maintain that. You can carry on without any problems. but if it isn’t that then if you can create a lump sum Lump sum money we have it could be a bank deposit if there is an easily liquidatable asset then all that value is what this lump sum money is all about So, lump sum can be 4 lakh, lets assume Now we don’t have an active income If that is the case, then how many months can we be financially free can be calculated 4 lakh divided by 40000 is 10 months 10 months we will be financially free. So, if you don’t receive an active income we can still maintain our lifestyle So, once the 10 month is done then only will we need to produce an active income. So, if you are becoming financially free permanently then just two factors to note, active income must be more than our expenses or we must have a very large lump sum money If that is the case, then we can survive without this active income So what are the things that can create a passive income ? We have spoken of seven types of income earlier in our channel So whatever was in that video is what we’ll be implementing

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