My Golden Rules for Financial Freedom: Why I’m going to Reach $1 000 000
This is the most important overall lesson I can teach you. It involves multiple of my strategies, strategies that I’ve written about before. But I’m writing this article to give you an overview of what I’m doing. Since I started Hacked.com and the new strategy for reaching $1 000 000 and financial freedom (in my eyes, could be very different for you) I’ve made more money than I’ve ever made before. My cashflow is increasing monthly thanks to CCN.LA, Hacked.com and Wilhelmsen (my regular job), and my investments are doing very well, including my trading strategy – the 2% Club.
I’ll make this article to the point. No bullshitting around. I sincerely hope that you will follow the same strategy as I am, it will make you financially independent in the long run.
Golden Rule #1
Always be cashflow positive.
You must have a job or a business where you receive positive cashflow on a monthly basis.
Golden Rule #2
Have a side gig.
If you are employed, try to establish a second revenue stream. This can be done by creating a business on the side or even having a second job (even though I would not recommend the latter). With a second revenue stream, you are certain that you will be cashflow positive even though you would lose your regular job or business. I’m currently employed in Wilhelmsen, but I have two separate revenue streams from Hacked.com and CCN.LA, including the one I’m receiving at Wilhelmsen.
Also read: You will lose your job
Golden Rule #3
Continuously increase your monthly income.
This might be hard if you are employed in a company. But then you should have a side gig you can focus on off-hours. Always try to find new revenue streams.
Golden Rule #4
If you have loans, try to pay them as fast as possible. I do not like to have loans. You could benefit from having loans if you get tax deduction – as we do in Norway, but still, I’m no big promotor of having debt.
Golden Rule #5
Invest surplus money.
If you have surplus money, money that you do not spend on the most essential things, invest a certain percentage on a monthly basis. I’m investing 33% of my monthly income and will do so for many years to come. That’s why I created the 33% Club.
Golden Rule #6
All these golden rules should be followed in the same chronological order. If you fail at one golden rule, you should not continue to the next one. There’s a reason for having “trading” as the last golden rule. You should not trade with money unless you are able to complete the first five golden rules. Trading is risky, you can lose more money than you put in, and that fast. However, if you have reached the sixth golden rule, then you could join me in the 2% Club (or create your own trading strategy).
And finally, remember: Never lose money.
Please comment below if you have inputs.
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