The path to financial freedom is through ownership. Ownership gives you control of your own destiny. Ownership creates leverage. Ownership generates active and passive revenue steams.
Every wealthy individual I have ever had the fortunate chance of interacting with all have one thing in common, ownership. Wealth may be a byproduct of ownership, but for me it's not even the wealth part I am chasing. The focus is freedom and freedom is what everyone craves. Freedom to live. Freedom to do what you want, when you want. Freedom to travel. Freedom to wake up when you please. Freedom of choice. This is something we all want deep down inside.
Most folks tend to think that ownership is something unattainable because they correlate it to some corporate business owner or tycoon or product of family wealth. As I progressed through my journey around personal finance, I came to realize that ownership can and does come in multiple flavors. Ownership is a mentality and an approach to decision making in life. When you have an idea, task or venture, approach it from a point of ownership. When you do, you will be surprised how things begin to change.
What's great about the various forms of ownership is that each one can be accomplished independently of the rest and this is what opens the path to having multiple streams of income. Owning a business is not the only way, other things to consider include:
- Own Equities (stocks)
- Own Assets (real estate, art, land)
- Own Commodities (precious metals)
- Own Inventions/Patents (things you can potentially license)
There are so many ways to create ownership. Regardless of the path you decide on, the point remains the same which is owners get paid.