A Quote by Jim Rohn
Financial independence is the ability to live from the income of your own personal resources.
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The key to financial freedom and great wealth is a person's ability or skill to convert earned income into passive income and/or portfolio income.
Degrees of ability vary, but the basic principle remains the same: the degree of a man's independence, initiative and personal love for his work determines his talent as a worker and his worth as a man. Independence is the only gauge of human virtue and value. What a man is and makes of himself; not what he has or hasn't done for others. There is no substitute for personal dignity. There is no standard of personal dignity except independence.
The first rule of personal finance is that it's not personal and it's not financial. It's about your ability to make ten changes and not get too depressed over it.
Financial independence is paramount. My mom always says that when a woman is financially independent, she has the ability to live life on her own terms. I think that was the soundest advice that I ever got. No matter where you go in life or who you get married to, you have to be financially independent - whether you use it or not.
Residual income is passive income that comes in every month whether you show up or not. It’s when you no longer get paid on your personal efforts alone, but you get paid on the efforts of hundreds or even thousands of others and on the efforts of your money! It’s one of the keys to financial freedom and time freedom.
Unless you have financial resources of your own, you can't be free.
Some of Kant's particular moral opinions, either because he shared the prejudices of his time, or because of his own personal crotchets, can strike sensible people as ridiculous or offensive. But in my view, his own theory provides us with the resources (the best resources available, I believe) to correct his own personal errors or cultural prejudices.
An organization is really a factory for producing new ideas and for linking those ideas with resources - human resources, financial resources, knowledge resources, infrastructure resources - in an effort to create value. These are processes that you can map, with results that you can measure.
The one thing I wanted was independence. And I realised to have that independence, you needed financial independence.
With your reorientation as awareness, difficulty calls upon your resources - not first the resources that you're familiar with, but the resources of your own being.
No one anticipates divorce when they're exchanging vows, and it can be devastating emotionally and financially. To ease the financial side of the blow, you need to maintain your financial identity in your relationship. That means having your own credit history - you need your own credit card - and your own savings and retirement accounts.
Financial security doesn't come from the amount of money you currently have; it comes from your ability to get more of it whenever you want ... Master the art of serving others and you will secure your financial future.
It's OK to have a plan, to invest in your future - for your financial security, your love life, your personal fulfillment, and even your happiness. To have personal happiness as a stated goal doesn't detract from it if you get there.
One of the most insidious consequences of the present burden of personal income tax is that it strips many middle class families of financial reserves & seems to lend support to campaigns for socialized medicine, socialized housing, socialized food, socialized every thing. The personal income tax has made the individual vastly more dependent on the State & more avid for state hand-outs. It has shifted the balance in America from an individual-centered to a State-centered economic & social system.
When the word 'morality' comes up in connection with economics, income distribution and financial stability are usually the issues. Is it moral for rich countries to use such a high proportion of the world's resources or for investment bankers to earn large bonuses?
The best thing we can do for family values is to repeal the income tax. Then families will have the resources they need to implement their own values - and not those of the politicians. With the income tax gone, families will no longer be forced to have two breadwinners by necessity. Children will be raised better, family values will predominate, and crime will diminish. If your local school indoctrinates your child with values that are alien to you, you'll have the money to buy a private education.
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