Semantics, semantics, semantics. What is the difference between financial security and financial independence. Or the difference between financial independence and financial freedom. The reality my friends is that there's different levels of financial success. And I want to break it down for you. And I want to help you understand some of the math behind it because once you wrap your head around this math, it's going to help take your goals that can feel nebulous on money and bring it straight home. I can remember it like it was yesterday. That second property. You know, the first one I was living in for free basement. Brought in some rent, paid my mortgage. But the second property felt like my first real investment. I wasn't living in it. And I was getting over $500. It was a $600 month cash flow. And being poor and deeply in debt and frustrated and starving is what it felt like just in my soul. That extra $600 was like the greatest ray of hope. It was so meaningful for me. I came to find out that that would be the home that would really inspire my second, my third my fifth, my 10th my 20th home. My hundredth home. My 500th home. And now I'm buying hundreds of homes a year. And I'm building all this wealth. And part of what got me there was really understanding what does financial freedom really mean? Today, I want to share with you 3 definitions I think it's going to be very very useful for you. And the first thing I want to do is I want to talk to you about financial security. There's a lot of people out there that really want to taste security. They don't want to feel like they have to worry about money. They don't have to worry about their bills. Financial security however is very different than independence and it's very different from freedom. Financial security is about covering your main bills. And when you think of your main bills, what comes to mind is like your mortgage payment, your car payment, your phone payment. Its food, its taxes, its insurance, its basic clothing needs. Maybe even some indulgences. Those are basics, right? And if you got your basics covered, let's just assume for a moment that you were making $50,000 a year. But all of your expenses actually came out to $2,500 a month. So I've got my house payment, my car payment, my clothes all my main things. If you had a residual income that produce $2,500 a month, let's just say, "Hey, Kris. I bought 5 homes. If those homes were producing $500 each or $2500 a month, then if these are my expenses and this is my income, then they would cancel each other out. And I would be able to say "I'm financially secured." Like if I lost my job, it's not that it would be doing great financially. But I wouldn't lose my house. I wouldn't lose my car. I'd be able to put food on the table. Security is a part of financial freedom but it's just a small part. So, I want you to understand. I want you to know what are your main bills? What do they actually come to? Then afterwards comes financial independence. Financial independence is different than security. You need more money to be independent. Being independent means that you have replaced your job income. And so you're now independent from the working atmosphere. Which another way of saying that is I don't have to have my job anymore. I've left my job and I have all of the money replace that I used to get there. It doesn't mean I'm rich. It doesn't mean I'm living the lifestyle I want. But it does mean that if I'm working it's only because I what? It's only because I choose to work. So, if you were making $50,000 a year. And that $50,000 a year comes out to basically 4,000 a month, then for you financial independence would occur when you have $4,000 a month coming in residually. Security covering all your main bills. Independence is covering all of your income. But after you become independent... So, when I tell people that I became... When I used to help people I retired at 26. The reality is that what I had achieved was security surpassed it independence. And I was already on my way to financial freedom. And I'll tell you why in just a second. Financial freedom is different. Said in a very simple way. The lifestyle that you want to live that you can't afford right now is what happens when you become financially free. And there's a monthly price tag for it that I want you to be able to identify with. You see for me, my bills were around $3,000 a month when I quit my job and I was bringing in $12,000 a month. So, was I already independent? Yes. In fact, I had $9,000 more. And it allowed me to live more of a dream lifestyle. But since then a lot has changed. Financial freedom for me has more houses and more cars and more will travel and just doing more of things. And we can reverse engineer all those things. Like if this is a multi-million dollar house. I can figure out what the payment on it would be. And I can start figuring out, "Oh, if I wanted to have a house in Monaco and if I wanted a private jet and if I wanted my house over here, I wanted to do a bunch of different things with my life", then all of a sudden my financial freedom might come at a cost of $70,000 a month. And just try out for a moment that 70,000 a month is a different number than 4,000 but it's not a lot. You got to get a lot in a little out of your head. Because it's just a mindset game. You got to get... Whatever seems a lot, you got to get comfortable and basic and easy to achieve and acceptable so that you can raise your financial barometer and actually go out and get it. My friend, understanding the difference between security independence and freedom, I'm inviting you to take pen and paper and do an exercise a little bit later and sit down and ask yourself, "What are my bills and how many deals do I need to do?" If it's 500 a deal, "Then how many deals do I need to do to achieve security? How many deals do I need to do for independence? This is 8 houses. "How many deals do I need to do to live financial freedom with $70,000 a month?" Or basically have a million dollars a year in expenses. Which is private jet and private homes and doing all these amazing things. It will come down to a certain number of homes. Here's what I want you to gain from today's video. There is a science to wealth. There are rules to wealth. And there's got to be a place where you can go to learn from the millionaires and billionaires that can teach this to you. I've been fortunate to have some of the most amazing mentors in my life. And when I look at how real estate, helped me achieve security independence and freedom. That is a gift that I want to pass on to you. I'm going to tell you exactly where to find it. If you click the link in the description below, you're going to learn about one of my favorite financial events. It's a multi day workshop. It's a game-changing experience. It's called unleash your financial destiny. And this experience is designed to teach you everything you need to know about real estate, money the rules of the wealthy, the mind set. Everything that's gotten me to where I am that I've been able to use to help other people where they want to go. And you know what? You're going to want to get in a plane, hop in a car and find your way to one of those next events and you'll find it right on the calendar if you click the link in the description below. Heck, even talk to a member of my team. It has been a game-changing experience now,for over 5,000 people that have experienced that event with me. And you just might be the next one. So, if you're ready for your financial mentor, if you're ready to learn and grow, if you're ready to get serious about learning the rules of the wealthy, come join me at that next event. .

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Posted from my blog with SteemPress : http://iread4u.live/2019/04/20/financial-security-vs-financial-freedom/