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The rate at with my head keep banging anytime I the word financial freedom keep popping up and I had to evaluate it with the state of living now, I just had to take a deep breath and wonder if the situation can really make this financial freedom dream come to pass. I have been having this freedom dreams right from my childhood days based on what I do see around me, I wasn't born with a sliver spoon (if not I would have sell it) and likewise my dad back then was a salary earner, at the end of each month whenever he came feeling somehow, I always knew his salary is gone already (used in paying off debt). I started wondering when the real financial freedom will surface and what to do so as to actualise this dream.
A friend of mine broke his first 2024 sad story to me 2days ago after returning home to see him, he was somehow scared to talk but I sensed he was worried, just the start of the year and he already lost close to 400k which he was saving just because he saw an opportunity and thought he could grab and gain more money. This is someone we have been on this financial freedom stuff together, at some point he asked me around last year about stuff on finance, savings and investment and I had to explain to him based on my knowledge and also shared some of my experiences to him since I have tried various option on this journey, and also emphasis on saving in dollars to earn passive income.
Apparently he did for a while but wanted more, according to him someone told him he could earn more money from forex trading by investing with him and without hinting me first, he went ahead to invest and according to him, he got burnt but based on his explanation, I figured out he actually invest with a novice trader, the person told him what they brought got dumped because they are in the bear market, I was confused but couldn't hold the laugh, I had to ask if it is crypto or a token but he keep on saying forex, I just told him it is well. No professional forex trader will ask you to bring some money just to trade for you, not even if he is you friend, he will only teach you the way or probably give you signals to trade on while teaching you risk management, only this newbies will be looking for scapegoat who they can use their money to open live trading account which they will eventually burn.
Someone once said, you fly with information, there are lot of informations out there that you can research on just to know if one investment is risky or not, you will even learn from various people experiences, financial education is very important, now he had to start saving all over again. I understand financial freedom can be enticing, we always want to find things that can really work for us, more ways to generate income without first analysing the potential risk involved, we just need to be careful, there are some risk that are not necessary.
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