Achieving financial freedom in the new economy is going to take more than just a new skill set, it’s going to take a new perspective about how wealth is actually built. A lot of people are afraid because of the recession and wondering when it’s going to be over. Meanwhile, a growing group of individuals is slowly realizing that what we’re experiencing right now isn’t a recession, but a complete transition into a different type of economy. This change in economy will have a similar impact that the change from the agricultural age to the industrial age. In other words, there was a severe downsizing of agriculturalists as people begin to realize that production capability and production equipment was now more valuable than crops and land.
Those who understand this and who took advantage of all the opportunities that the new economy of the industrial age made had a fortune, while those who did not were left begging for the crumbs which fell from the master’s table. If you’d rather be one of those who benefits from this new economy, here are three new rules of wealth…
Three New Rules of Wealth for the New Economy
1. Multiple Streams of Income
Job security is gone, leaving those who depend on their income as their single source of financial security vulnerable to layoffs and downsizing. However, those who can develop multiple income streams don’t have to worry about one income stream drying up because they still have others to sustain them while they replace the one which has been lost.
2. Employment Security
Again, job security is a thing of the past. However, the need for valuable workers remains, and those who have a strong reputation and a great work ethic will likely win out over those who simply have an impressive resume and education. People who have employment security focus on creating results and adding value for the people that they work for, understanding that this is the most certain means of making sure that they always have work.
3. Financial Independence
Debt has become a way of life for many people in our society, but in the new economy having debt can make it very difficult to build multiple income streams and to survive multiple changes in employment. Those who can manage debt or have no debt and who are financial independent have a lot more flexibility and options, which makes it much easier for them to focus on the strategies for building financial security.
These are three new rules of financial freedom that you can start applying right away in order to survive and to thrive in the new economy…and the best time to get started is right now.