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Financial Freedom - Coggle Diagram
Financial Freedom
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Cashflow Quadrant
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They trade their time and skills for money (e.g., salaried or hourly wages).
Employees typically have job security, but they are limited by their salary and the hours they work.
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These individuals work for themselves and may run a small business or practice a profession (e.g., doctors, lawyers, freelancers, small business owners).
Self-employed people have more control over their income compared to employees, but they are still trading time for money.
They are responsible for their own success but may face challenges with workload, time, and income stability.
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Business owners have systems, teams, or processes in place to generate income.
They are not directly involved in the day-to-day operations and can earn money even when they are not working.
The key here is leveraging other people's time, money, and effort (e.g., franchise owners, CEOs of large companies, etc.).
Business owners can scale their operations and create more freedom and wealth, relying on systems and teams to run the business.
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Investors make money by investing their money in assets that generate income or appreciate in value over time.
This could include real estate, stocks, bonds, mutual funds, or other financial instruments.
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The goal is to build passive income streams that provide financial freedom without the need for active involvement.
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