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Spiritual Laws Of Money

by Francene Frayer (2020-08-11)

This first goal is also the Spiritual Laws Of Money easier of the two for calculating, provided we have some idea what university the child wishes to attend. Making a conservative estimate won't hurt because any of the money left over will certainly come in handy to start their career. If we have several years in which to generate this sum, we can divide it out over that time. We can even break it down further to the exact amount necessary each week to reach our goal. We still need a plan to generate the extra income, but that plan becomes specific to the individual's circumstances. In this example the plans necessary to accumulate the cost of tuition have a wider range of possible solutions. Since the sum is fixed we don't need to invest for the highest rate of return. Those investments won't necessarily be strong at the time the money is needed. Part of our formula includes keep what we gain. Since we know when we'll need this money, it only needs to be secure until that moment. I chose the second example because financial independence includes the ability to pay for our child's education. If we're going to talk about making more money, we may as well solve the bigger problem. The person who has obtained financial freedom knows how to generate extra income; but how do we get there?

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