I’m all for becoming free financially.

This is something many people state they’re going to do – to establish their wealth and make a passive income. Most people dream of doing this because it gives you the freedom of living a life of 9 to 5 life, 40 to 50 hours per week. Depending on what kind of job you have, you could make a good living with it.

However, many people realize that they are weak and lazy – just not very serious. I was the same way. Financial freedom isn’t easy to attain if you have a mindset like this. A single person with no dependents and a good job, my wealth should have been $10,000 or more a year. I wasn’t serious, and this wasn’t happening.

Granted, if I was married with no kids or with them, the step toward financial freedom should be even faster. After all, it’s a two-person household earning the income. Progress would have been much faster. Still, you have to be serious about your financial freedom and gaining wealth.

The reality is that most folks don’t take building wealth seriously. And, that’s fine! Financial freedom isn’t on everyone’s plate – it may not be what they feel is most important to them. The focus is on the 9-to-5 folks who are just beginning and are itching to be financially free. If your goal is to be free financially, then you need to know what steps to take to make it happen.

Capital Preservation Helps To Establish Financial Freedom

You may think the only surefire way to do this is by investing or having more than one stream of income, but that’s not it! The easiest way to attain financial freedom is through a method known as a preserving capital.

Wealth building starts and ends with capital preservation. And, it’s for anyone like myself, working a demanding, full-time job for a decent wage. The problem is that to escape the lifestyle, you have to preserve your capital. You have to be frugal, start pinching pennies and do everything you can to save the money.

If you truly want to be serious about saving money and building your wealth, you need to realize that there are three things that you must do consistently:

• Preserve more of your present income
• Look for other income sources
• Cleverly apply the saved capital to investment that will generate a good return

Nearly any person who has thought about building their wealth understands this basic idea. What the majority of the full-timers fail to grasp is that financial freedom starts with preserving the current income.

At a negative net worth, one is unable to seek outside income sources after hours at a day job and succeed. You cannot make worthless investments and see good returns. If you plan to do these things your career is going to be long. You won’t be able to amass the large capital you want. Why? You’re not using the system properly and are not coming at the idea of wealth in the right manner and frame of mind.