Which of these 7 Shortcuts to Financial Freedom Do Your Take?

Michael QuanAutomation, Beliefs, Education, Habits, How to, Misc, Real Estate, Saving Money34 Comments

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shortcuts to financial freedom

Are There Really Shortcuts to Financial Freedom?

You bet there are! In fact, I’m going to highlight 7 shortcuts to financial freedom that I’ve used myself, and show you how you can use these too… well, most of them.

Why Does “Success” Move at a Different Speed?


Do you ever notice that people’s “success” occurs at different speeds?  Ever wonder why some friends seem to keep bursting through goal after goal while others seem to be stuck in the past?  Where do you fall within this range?

It’s not a mistake, those people who find success seem to be moving quicker.  They have likely found shortcuts to get to their outcome quicker and faster than most.

If you know where you are going, multiple paths will open up many times.  Shortcuts are simply the most efficient route to your desired outcome.

7 Financial Freedom Shortcuts Towards Building Wealth

Alright, I’ll stop keeping you in suspense!

And, remember, these shortcuts also apply to those achieving F.I.R.E. (financial independence, retire early).

Shortcut #1 – Discard Disempowering Beliefs About Money

It’s not a coincidence that I list this as the first shortcut to wealth.  Your beliefs of what is possible (and not possible) will have a direct impact on your ability to create wealth within your lifetime.  The sad thing is that most people will stop before they even get started.

“You need money to make money.”

“Money is not that important to me.”

The good news is you have the ability to exchange disempowering beliefs for empowering ones!

“If I am creative I can create money out of thin air!”

“Money is important to me so I can make a larger positive impact on this world and leave it a better place.” 

*Need some more examples?  Read my post – You Will Never Be Rich With These Beliefs.

It’s a funny thing.  Once you discard your limiting beliefs, your mind will automatically take you forward.  I always knew I’d be a millionaire well before I ever had a dime to my name.  Why not you too?

Book Reference (Changing Beliefs): The FIRE Planner

Shortcut #2 – Leverage Other People’s Time & Wisdom

I always tried to find shortcuts.  In fact, I thought I was pretty clever.  But I quickly got educated that taking a test in high school is NOT a team sport…HA!  😉

The good news is that outside of school, business and work can be a team sport.  Building your wealth is usually a direct correlation to the value that you are providing.  So it would stand to reason that the more people you can assemble a team to work towards a common goal, the better!

I’ve used this strategy first hand when I built my own IT services company.  I partnered with people who were smarter and more capable than I was in certain areas, and it made us into a well-rounded team.

The other way you can effectively leverage other people’s time and wisdom is to learn and take massive action based on an expert’s teachings.  But, this shouldn’t be anyone.  It should be someone who has already achieved the goal that you’re trying to achieve.

In the technology age, it’s incredibly easy to get access to some of the smartest and most effective entrepreneurs out there!  Need some inspiration?  Check out podcasts like www.eventualmillionaire.com or smartpassiveincome.com.

Shortcut #3 – Powerful Rituals

No, I’m not speaking of rituals in a religious sense, but rather rituals as a repeatable habit you subscribe to in order to achieve a specific goal.

Ever been to Muscle Beach in Venice Beach in California?  Do you think that these ripped individuals just woke up one day and found a six-pack on their abs?  Of course not.  They made a decision a long time ago to work towards a vision by acting every day with a ritual to exercise.

The same holds true for those who have achieved Fat F.I.R.E.  They just may not be as visible, but someone with a fat net worth is doing things differently than someone who isn’t achieving the same results.  Some well-known, but important ones include:

*7 Crucial Habits That Millionaires Keep

Want to know a secret?  It’s easy to create a wealth-building ritual.  It’s also easy NOT to do it.  It’s up to you.  The best thing is once you do it often enough, you won’t need to think about it anymore and creating wealth will simply become a part of what you do.  You deserve it!

Shortcut #4 – Start a Business

shortcuts to financial freedom

Here’s a shortcut that makes America great!  If you’re creative enough, persistent enough, and don’t fold under limiting beliefs, you can make a HUGE chunk of $$$ creating and running your own business.  This can come from profits, and or the appreciating value of your business as an asset.

There are so many business ideas and opportunities, it’d be a shame NOT to try something while you can.  This is a freedom I don’t take for granted and neither should you if it’s available.  Don’t think you need to come up with the next Uber or Facebook.  There are millions of entrepreneurs that make a decent living providing a service or product to their communities.  Find a need and serve it WELL.  🙂

Finding success?  You can always take $$ off the table during a liquidity event (i.e. sale of a business, or a later funding round).

Book reference: The E-Myth Revisited

Shortcut #5 – Invest in Real Estate

There are more millionaires created through real estate than any other asset class.  Why is that?  What makes real estate such a great shortcut to wealth?

Real estate has the ability to generate passive income quickly and for long periods of time.

It comes down to leverage and growing your money.  Real Estate can give you access to dual components of cash flow and appreciation.  To sweeten the deal even further, you can leverage your money by adding in debt service (i.e. a mortgage) and use a property manager to handle the property for you.

Want to know more?  Check out my post – What Does a Good Real Estate Deal Actually Look Like?

Book ref: The Millionaire Real Estate Investor

Shortcut #6 – Inherit Your Relative’s or Close Friend’s Assets

Okay, so this one, although real, is a bit morbid. Of course, we don’t want to lose anyone close to us. However, when that does happen, it’s a possibility you’ll inherit some money, real estate, or other belongings.

This shortcut happens every day. So, if you are to be a good steward of any assets that come your way, you’ll want to ensure you learn how to best manage this money. If you have any debt, an inheritance can certainly help with that burden. Or, if you don’t have any debt, you’ll want to consider investing and growing your money.

But before you do anything, make sure you put aside a chunk of it… because you’ll probably need to pay taxes on it too!

Shortcut #7 – Buy $10,000 Worth of Powerball Lottery Tickets

I left the best shortcut for last.  Most people don’t realize that I’ve won over $453,000 through the multi-state lottery system which has added a nice chunk to my net worth.

The secret is to purchase $10,000 worth of Powerball Tickets EXACTLY an hour before the drawing.  But, the overall jackpot needs to be over $100 million to find an ROI worth pursuing.

Your purchase will give you access to 5000 tickets.  Make sure that you choose the number 7 and the number 38 for at least 1000 of them.  This will increase your odds of winning by 20,000 to one.  We’re actually not trying to win the final jackpot, but the smaller prize monies of $100,000 or more.

Final Thoughts

Are you still reading this!?  Sorry, I couldn’t resist.  😉  We’re almost to April Fool’s Day!!

The real shortcut #7 is NOT taking your money too seriously.  Financial Freedom is more of a mindset than anything.  If you make $40k per year in the U.S., you’re already richer than the majority of the world.  It’s all a matter of perspective.  How you decide to live is ultimately up to you.

Finally, don’t forget to have some fun along the way.  There’s no point in becoming a miser and hoarding cash, especially if you aren’t going to spend some of it on people, things, and purposes you believe in.

Remember, shortcuts to financial freedom are usually paths less traveled.  It’s one thing to “know” how to do something.  It’s entirely another thing to actually “do” them.  Do you have what it takes?  Of course, you do.  See you on the other side of a million!

Readers, which of these shortcuts have you participated in?  What other financial freedom shortcuts do you use?

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34 Comments on “Which of these 7 Shortcuts to Financial Freedom Do Your Take?”

    1. Yetisaurus, glad you liked the post! 😉

      There’s always a system for something, right? Thanks for the link. I’ll check it out. It never ceases to amaze and fascinate me the ways that people are making money.

        1. Haha… that’s awesome George! Maybe I was onto something. 🙂

          Did you ever read the book, Bringing Down the House? More MIT students that took Vegas for millions counting cards at blackjack.

  1. Very powerful points (except the last one!). It took me a little longer in life to figure these out so I won’t be able to be financially free until 50, but at least I can make sure that my 5-year daughter gets it while she’s young. Hopefully she’ll be able to become financially free at a reasonable age and can then chase after her dreams in life without having to worry about the shackles of money.

    — Jim

    1. 50 isn’t too bad, Jim! Your daughter will be very lucky to learn good money habits early on in life. Then she can share her financial wisdom with her friends. 🙂

  2. I love #4 and 5. I feel investing in rental properties can be a gateway to running your own business. In some ways, having a rental portfolio is a side business. And the investor will see opportunities to create other businesses as well. My goal is to help people start the snowball effect with turnkey rentals – from there there are endless possibilities!

  3. You got me on the lotto joke. I was thinking everything sensible until then. In my defense I am reading this on 4/2 so April Fools Day has passed and out of mind. It took me to age 51 to reach FI and early retirement. I think my edge was ritual or habit based. Start a habit of saving and maintaining spending discipline and the benefits quickly begin to compound.

    1. Hey Tommy, I’m glad the joke is still working post-April Fool’s. I’m sure you won’t be the last. 🙂

      Congrats on hitting FI and early retirement at 51. That’s much earlier than most! I’m glad to hear your an example of the ritual/habit shortcut. Isn’t it amazing how things begin to compound later on? In the beginning, it seems like nothing is happening at all. 🙂

  4. These are some great tips. There are shortcuts, but it takes a little time to find what works for you and to have the discipline to stick to them. Once they become habit, its amazing how easy it can be! The internet has really leveled the playing field. Good advice is easier to find and many investment products are becoming cheaper. Where I think people run into trouble is looking for the easy route first (like your example of the lottery).

    1. Michael, isn’t it fantastic how easily accessible information is on the Internet? The problem these day is sifting through it all to find wisdom among the noise. You are right, discipline is a huge key to creating long term wealth. After awhile, discipline becomes second nature and habits are formed. That’s why it’s always the hardest in the beginning and as you said, people search out the “easy routes”.

  5. Love this post man! It’s all kinds of epic & thanks for writing 🙂
    I’m definitely looking to re-wire beliefs through education , questioning them & taking action, while also speaking with experts 🙂

    I’d say actually understanding that you don’t need as much money as you think and to understand the wants vs. needs is another tip / s I’d offer

    1. Thanks Jef! I agree. Most people never actually take a look at what they would need to live comfortably. Financial freedom isn’t that far off for most people, yet they treat it like a fabled unicorn to be caught! Believing you can get there is half the battle and finding “normal” people just like you that have done it is always inspiring. 🙂

  6. Repeatable actions are necessary, because action begets more action. Just like the people at venice beach, when you start to see results, it helps hone in your focus that much more and agree that it becomes a shortcut as it also increases efficiency in your actions.

    1. Thanks for the comment, Doc J! Momentum is a huge advantage that starts to snowball over time. Just like compound interest, habits can create a snowball effect of outstanding results. I’m sure you’ve experienced this yourself.

  7. I think the biggest thing is Shortcut #1. For the longest time I thought that having wealth was something other people had and I would just skate by and just do enough to live an average, but happy life. It wasn’t until my daughter was born that I felt I could actually do more! Even though having a kid is expensive, I feel richer than when my wife and I didn’t have a child since we’re so much more aware of our finances.

    It’s crazy to think that most people spend most of their time making money through work but not enough time to actually manage their money.

    Good post!

    1. Thanks Vic! I’m glad to hear shortcut #1 has been your advantage. I’m still amazed at how much our psychology controls our ability to create and build long term wealth. Children also support an environment to thrive in, either through necessity, or though the desire to provide outstanding examples for them. Great job on building your awareness. Your daughter is blessed to have you and your outlook on finances. 🙂

  8. Real estate and starting a business are the 2 best short cut to building wealth. There is no getting around without hard work, though. You gotta work hard to build wealth. Oh, I think you forgot one short cut – inheritance. That’s a nice shortcut if you can get it.

  9. I like the “real” #6 and I totally agree about real estate, getting help, and starting a business. I think the biggest tip those is working hard. And I mean actually working hard. There are few really hard workers who sustain their energy over years and years. There are even some who try to appear to be working hard but don’t really. From your story and your articles it is clear that you actually are a hard worker. Well – now that you are retired… 🙂

    1. Thanks for the kind words, Jesse. I certainly do work hard at certain times, but you may be surprised that I consider myself lazy in many regards. In fact, you just inspired me to write a post about this, so stick around and you’ll see what I mean. 🙂

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