Imagine, in one bank account, there was only 70 paise i.e. 0.01 dollars and in the other account, there was only 158 rupees i.e. 2.26 dollars. Now imagine, how will someone live with so little money? This was the time when Grant was fired from his job. He had no option left, so he had to shift to his parents' house out of helplessness.
He says that if a 24-year-old boy comes back to live with his parents in his country, then people consider him to be a loser. And to be honest, even Grant used to feel like a loser. Every night at dinner time, his parents used to ask him only one question.
Son, did you get a job or not? And he used to look down with embarrassment and answer, No, I am looking for it now. In the last two months, he had sent his resume to more than 200 companies. He worked hard day and night, but not a single call came from anywhere.
One day, he got so frustrated that he went to a vacant ground and lied down. Looking at the sky, he started having a lot of questions in his mind. Dude, I had taken admission in a good university, I had also got good grades there, still why did I become like this? He remembered his dad's words, who used to say, Do a job, even if you don't like it in the beginning, you will get used to it later.
Grant did the same. He joined a high-salary job, which he did not like. Just because his dad thought that this was the right way.
But even after doing so much, his life came to that turn, where there was a count of 10 rupees in the bank and he was unemployed. Many of his friends, who had not even worked hard in their studies, were in a much better situation than him. Someone was doing business, someone had settled in a job, and Grant, he was dependent on his parents' house.
At that moment, he felt that now it is enough, now I have to do something. Then he set a big goal for himself that he should have at least 7.5 crore rupees in his bank account. He wanted financial freedom at any cost.
But the question was how to achieve such a big goal? The way was still not clear. But still, Grant did not give up. For the next 5 years, he worked hard.
Whatever personal finance book he got, he read it. He says that he tried to understand everything, which could help in managing and increasing money. During this time, he also did jobs, from small jobs to some decent ones, all kinds.
But just by doing the job, the work did not work, so he also started two companies. All this was not easy. He failed many times, suffered many losses, but he did not stop.
As a result of 5 years of hard work, he had more than 7.5 crore rupees. Now he started thinking how to reach 75 crores. And not just for himself, he wanted other people to also achieve financial freedom.
That's why he wrote his journey in a book, Financial Freedom, A Proven Path To All The Money You Will Ever Need. In this book, he told every step of his life in detail, how he came out of that difficult time and reached here. Today we will try to understand that same journey a little more deeply.
So let's start. According to the author, there are 7 stages of financial freedom. Grant identified 7 important stages in his financial journey, which work like a road map for every person who wants to achieve financial freedom.
The 7 Stages of Financial Freedom
Grant spent the next 5 years working relentlessly. Reading every personal finance book. Working jobs big and small. Starting two companies. Failing. Learning. Pushing through.
1.First, clarity.
The first and most important step. Before starting the journey of financial freedom, one thing should be crystal clear that how much money exactly do you need? Think, you need 50,000 rupees every month to run your life smoothly, so the annual expense is 6 lakhs. Now think, if you don't want to work for 10, 20 or 30 years, then how much money do you need? This clarity is the first step.
Until this number is not clear in your mind, your journey will be like shooting an arrow in the dark. Financial freedom is not just an idea, it is the exact number that you have to find. After this comes the second stage.
2.Self-sufficiency
At this stage, you earn so much that you don't need anyone's financial help. Assume you are earning 15,000 rupees a month, and you are spending the same amount, neither do you have a burden on anyone, nor do you need anyone's help.
3.Breathing Room
You are standing on your feet, living on your own. This level may seem small, but this is the first victory, when money does not become a tension for you, but becomes a tool. When you complete this stage, then you come to the third stage, which is the breathing room.
Now you have a little extra money left. Assume that tomorrow you lose your job or there is an emergency, then at least you will be able to spend a month or two, right? Yes, this gives you a little peace of mind, right? This stage gives you a little financial freedom, where you can breathe a little, without taking tension all the time. On the one hand, you get comfort in this, but still you have to work in it.
4.stability
But when you cross this stage, then you come to the fourth stage, which is stability. At this stage, all your debts are over, whether it is a credit card bill or a loan burden, everything is settled. In addition, you also have an emergency fund ready for at least 6 months' expenses.
5.Flexibility
Now for the first time, you feel that the ground is under your feet, you get a little peace of mind, you start feeling a little financial security. However, after this stage comes the fifth stage, flexibility. Now, when the next two years' expenses are already safe with you, then there is no need to take tension.
Whether the job is left or something unexpected happens, now your decisions will not be under pressure, but by your own will. Life will now run on your terms, this is the real fun of freedom, right? At this stage, you can live your life in peace, but when you cross this stage, then the real magic begins. After this stage comes a very important stage, which is financial independence.
6.Financial Independence
This is the golden stage where the author had reached in just 5 years. Think, just 5 years. At this stage, your investment grows so much that your daily expenses are easily covered without any job tension.
Now you don't have to work to earn money. Now you work because you like that work, because it is your passion, not any compulsion. From here, life goes to a new level, full freedom, full control.
7.Abundance
And when you cross this stage, then you go to the 7th stage, which is abundance. Believe me, now you have so much money with you that even if you spend it comfortably all your life, it will not end. Now there is no tension, just spend time with your loved ones, do what you like, live hobbies, go on a journey, roam around, feel the whole shock of life, have fun.
This is the real financial freedom, when your money works and you enjoy life. Now the question arises, how to actually cross all these stages? Just making a plan is not enough, to complete it, the way of thinking will also have to change. That's why, Grant has shared some powerful thinking models which will help you shift your mindset.
With the help of these models, you will not only earn a lot of money, but will also learn to take smart decisions. Come on, now let's understand them one by one in depth, so that you can also take a confident step in your journey of financial freedom. No.
1 Time is more valuable than money.
Grant says that we will still earn money, but time, time will never come back. Credit founder Kunal Shah says that suppose your income per hour is 1000 rupees, then will you waste 30 minutes for a discount of 500 rupees? No, in India, most people do not know the value of their time, that is, they do not know the value of their one hour.
If you know how precious your time is, then you will not waste it on useless things. Like if you are a working man or a woman, then you can keep a maid at home, this will save your time, you will be able to focus more on your goals and someone's job will also be created. Author says that if you understand the value of time, then all the decisions in life will become easy.
If you understand the value of your time, then you will get clarity in every financial decision. And this clarity will take you to step number 2, which is Your Number Matters. How much money do you need for financial freedom? To know this, you can follow the 25X Retirement Rule.
2.which is Your Number Matters
This rule says that save 25 times your annual expenses. Suppose you need 12 lakh rupees every year, then 12 lakh into 25 is equal to 3 crore rupees. Now divide it into two parts.
Put 1.5 crore in FD. This will work for your expenses for 12 years. After this, put 1.5 crore in the index fund.
If you get 15% return, then it will become 8 crore in 12 years. Then divide 8 crore into two parts again. 4 crore in FD, 4 crore in index fund.
This cycle will continue. Yes, this may not be a perfect plan for the short term, but it will definitely work well in the long term. Because the market can go up and down in the short term.
But in the long term, the job of the market is to go up. You can pick up history and see. This plan gives a direction.
And when your number is clear, then your vision also becomes clear. And when the vision becomes clear, then you understand the magic of compounding. And the third step is also the same.
3. The Power of Compounding
The magic of compounding. Every 1000 rupees that you are saving today, it can give you financial freedom after 10 to 20 years. But for this, it is important to save big expenses.
Grant says that there are three things where people waste the most money. House. You can buy a cheap house or live on rent.
For this, you can shift a little away from the city, which will reduce your expenses a little and your money will be saved. Car. Take the necessary car.
Don't overspend just to show off to others. Food. Instead of eating outside, eat at home.
The money that is wasted in the hotel, you can invest it wisely. There is one more thing in India. Marriages.
People pay the marriage loan by filling the EMI. Imagine if this money was invested, then when you avoid unnecessary expenses, then only your 1000 rupees go on the journey of compounding. And you can invest the same savings in making side income.
4. Earnings from side business
Grant says that with your active income, there should also be some side income. Grant himself has invested in real estate to generate side income.
The author says that you can invest in real estate in two ways. Flipping. Buy cheap property.
Renovate a little. Sell it at an expensive price. Rental income.
Take a house on loan. Pay the loan on rent. After the loan is over, house and rent.
Both are yours. Apart from this, you can also start side hustle. Whatever your skill is, learn to make money from it.
And the most important skill in it is Selling. And this is the next step. Learn selling.
5. Learn Selling
The biggest skill in business is Selling. Grant says that for this, read some good books like Dan Kennedy's The Ultimate Sales Letter, Robert Cialdini's Influence, or Russell Branson's Dot Com Secrets. If reading seems boring, then try a practical sales course.
Selling is such a skill that will be useful to you all your life. In job, in business, in relationships. Apart from this, you yourself can learn a skill and monetize it well.
For example, let's take the example of this video. By making such animated videos, freelancing or opening your own faceless YouTube channel, you can start the journey of content creation. And you can earn good money.
Believe me. The demand for such animated videos is increasing day by day. If you learn from it, then you can easily make any kind of cartoon video, moral story, educational video, horror story, and such finance videos, advertisement or explainer video very easily.
And you can achieve financial freedom as soon as possible. I will give the link in the description. You can join the class from there and become a pro animator in just one to one and a half months.
So friends, this was the story of Grant, a person who started from zero and achieved financial freedom in just 5 years. This was his journey. His journey taught us that no matter how bad the situation is, if the intentions are strong and the direction is right, then anything is possible.
If you also want that one day money works for you and you can live your dreams, can live your life, then take action from today itself. Don't waste time. Small steps can also make a big difference tomorrow.
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