Page 16 - MPTSOUTH NEWSLETTER - JAN to JUN 2019 ISSUE

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Financial Freedom

By Margie S. Danes, Finance

“The main reason people struggle financially is because they have

spent years in school but learned nothing about money. The

result is that people learn to work for money… but never learn
to have money work for them”

— Robert Kiyosaki

All of us were given the greatest gift – WISDOM. With every centavo

that we received, the choice is left with us, we may choose to spend
then save later. As much as possible, we all want to save and become
financially literate but the reality sets in, we end up hard to master the

secret formula on how to become wealthy.

In the world of Accounting, there are three types of income:

Ordinary – income earned from employment

Passive – income derived from real properties (example: rental
income)
Portfolio – income derived from paper assets (example: stocks,

bonds, etc.)

The key for financial freedom is to start saving NOW and increase

additional passive or portfolio income. Today, we work for money with
the end in mind of making the money work for us. How to get started?