Now, why stop at one crore? Make that a Ten Crore Cheque. If you are wondering whether you have landed at the wrong site or if something is wrong with me, not to worry. I am not any more mentally disabled than I was yesterday, and you are at freefincal. Allow me to explain. How does one get rich? What is the first step towards financial independence? Crude as it may seem, the first step to be rich is think you will be rich. The first step to financial independence is a clear purpose. Not a higher a salary as many mistakenly believe.
Last week I had published FU Money Calculator. This is android app version which you can download for free at the Google Play Store. Also, I discuss freefincal plans in 2017. FU Money is internet slang for saying goodbye to your employer when you have enough money saved. Here F stands for a popular four-letter expletive (bad word) and U stands for You.
When you have enough saved up, you have what John Goodman (video below) refers to in the "Gambler" as your "fortress of f***ing solitude" and you are in a position to wave an FU goodbye to just about anybody.
"FU Money" represents the amount required for a person to stop being employed. She is then free to follow her passion and wait for it to generate an income without having to worry about expenses for at least a few years. Or the corpus could be large enough to generate an inflation-protected income for the rest of her life.
For those who may not know, FU is way of, er .. saying "goodbye" to your employer. U the FU stands for You and the F stands for one of the most popular expletives 🙂
Here is a free Google spreadsheet for tracking financial goal portfolios with an option to receive email alerts. This sheet created by Amol Wable, is a modified version of the financial freedom progress tracker published earlier by Guhan Ramanan.
Amol was kind enough to share his sheet at FB group, Asan Ideas For Wealth and allowed me to share it here.
Guhan developed his sheet without focussing on returns and daily email alerts. His thinking is that the user should focus on the current value of the corpus and what percentage of the target corpus has been achived. I concur. For example see:
The freefincal financial freedom app is now available for free download at the Google play store. The app helps answer three questions about financial freedom: (1) What is the corpus required to be financially independent?; (2) How long will a corpus last?; (3) What is the rate of return required to generate income that keeps pace with inflation.
First A request: Please review You Can be Rich Too With Goal-based investing at Amazon or Flipkart. It will help us become better writers. Here is the first review at Amazon.in 🙂 If you have not got it yet, order one today!