The 6 Baby Steps to Financial Freedom with the Fastest Results

Financial freedom and it’s journey is said to be a marathon and not a sprint.  It’s normal for a few people to judge an article by its title without even reading it.  I also used to think this couldn’t be done until I read it in the infamous book, The Millionaire Fast Lane.  An amazing narrative indeed by author, MJ De-Marco – when he told the full story about how he did it.  The 6 baby steps to financial freedom are within reach if you desire this quest.

The fast lane strategy to financial freedom in just 6 steps.  A step by step guide that isn’t a get-rich-quick scheme.  Anyone can do it with a dedicated and determine mind.  You’ll be working up to 10 hours a day on your secret project; and not the 4 hour work-week touted by a lot of online gurus out there.  Get your fast results within these 6 steps outlined below.

Baby Step 1: Avoiding get rich quick schemes

Literally, if you want to discuss the quickest steps for attaining financial freedom, you must drop the proverbial disclaimer.  This is certainly not a get rich quick scheme deal.

As much as we seek the quickest routes, we’ll concern ourselves with the quickest yet rational and organic routes using 6 baby steps to financial freedom that have worked for others.

How do we know for sure that these strategies or tactics work? We’ll delve into both social proof and the same exact steps that are printed is some of the greatest self help books out there.

Baby Step 2: Discovery of self and motives

Your first move is to take a step back and look at your current condition.  You’re looking for something that’s not right; or perhaps a messy personal finance.  This stuff can be fun to fix in the next 5 years.

And certainly, your 6 baby steps to financial freedom should be achievable – within a single lifetime; not the after-life.

Are you in a bad place financially? Make a personal pledge to turn things around.  Note that this will be your personal commitment to self.

Next, what are your gifts? Have you something unique that the world would want to pay you for?  State your goals on a simple journal.  Believe in achieving 10 things this year.  List out your 6 baby steps to financial freedom as a six point agenda.

Finally, what would your life look like if you achieved financial freedom in perhaps 7 years? Make it clear why you’re doing this. This little step will place your mind in the best frame of thinking to endure everything the process throws at you.

Baby Step 3: Planting your money tree

You have heard that money doesn’t grow on trees? Well, ignore that.  It actually does.  You’ll need a money tree to grow your money farm.  Using the 6 baby steps to financial freedom ultimately scales to a money forest faster.

The most important of these is an investment or financial nest egg.  This could also be called your financial freedom fund.  You’ll need to buy financial assets like stocks, Exchange Traded Funds (ETFs), Certificates of Deposits (CDs), or Treasury Bills (T-Bills).

This is your army’s first battalion;  Or perhaps the first seeds for blooming the initial branches.  Having investments are so much easier than starting a business from scratch.

Next, you’d want to dabble in a side-hustle.  After building your investment nest egg, try building a digital business or online brand.  Leverage the power of the internet to build additional streams of income.  This process is entirely learnable by anyone.

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Baby Step 4: Personal finance foundation

You need to lay a strong personal finance foundation.  This is the fertile ground for planting your money tree.  This step is very important  for our 6 baby steps to financial freedom.

This step is as crucial as the previous.  Investing in investments like financial assets grows through compounding; .  We planted our initial seed in a flower pot – as seedlings until the actual ground was ready first.

Furthermore, we need is to figure out the durability of our existing income if you’re employed in  job.  Start with a clean budget like the 50-30-20 budget rule to save 20% of your after-tax paycheck for financial freedom purposes.

With this saving, you’d have to first knockout your debts with a tactical repayment plan.  Use available means to build an emergency fund of 3 to 6 months of living expenses.  Your reserves are for unforeseen financial crisis management in the future.

Then finally, you’re definitely boundless in ploughing the free savings of your income into investing for onward growth and compounding at discussed above.

Baby Step 5: The fast track to a million dollars

As your 6 baby steps to financial freedom lay the grounds for growth, you’ll have a clean budgeting and savings habit running month to month.  Then you’ll have an emergency savings funded to shield your financial assets from premature redemption.

Now lift up your head and take a second look at your side hustle you’re building online.  How is that working out for you?  This will be the basis for your fast-track a million dollars before you know it.

The previous steps of investing in stocks and funds are basically the slower or turtle path to wealth.  They’re indeed achievable but will take a longer time.  Your online digital brand will work on you and turn you into the person who will be able to grow it to a massive income threshold.

How will a small side hustle make you a million?  Your first goal is to earn $100 a day in your business which comes to about $3000 a month.  If you learn from YouTube videos and do exactly what your mentors tell you, you’ll 10X your income to $30K a month in no time.  This is certainly the most power stage in your 6 baby steps to financial freedom.

Someone somewhere is looking for a business like yours to buy.  They might pay a million dollars for the cash flow multiples that your business model is producing.  If you averaged $360K a year.  That investor will hope to make their money back in less than 3 years – after acquisition.

Sage Tip:  How To Become Rich Like Warren Buffett

Baby Step 6: What to do for your next endeavor

Now that you’ve unclogged  that pipe dream, see how possible it is to become a millionaire in less than 10 years.  Plan in advance what you’ll do with all that money.  Your 6 baby steps of financial freedom and wealth can become a reality.

Does early retirement sound like a good idea? Perhaps you want to find fulfillment doing philanthropy or living extremely well with your family and the people you love.  Or would you be willing to double down on the magic? Are you up for an adventure to try the next endeavor?

You could chart a new path with your new found wealth.  Start another business.  You have the capital, the experience, wisdom and ability to afford a team to do all the hard work.

Or better still, buy yourself an existing business and grow it to a multi-million dollar venture.  Now that’s how the 6 baby steps to financial freedom will lead you into becoming a deca-millionaire.

A Few Parting Words

You can achieve financial freedom is as little as 6 steps.  Many people have done it within a couple of years.  But doing this with 7 to 10 years is a safer model.  The 6 baby steps to financial freedom will take you to that dream a lot quicker.

The standard 30 to 40 year waiting period touted by FIRE advocates like Dave Ramsey and Victor Hansen are over.  Financial freedom can be achieved faster with the leverage of the internet – and all its opportunities.

While you grow your money tree, seek a more durable, but less gruesome path that is achievable – without going to zero – ending up bankrupt or in jail.

Share your tough times or hard earned results with us in the comments below.  If you’re a fresh starter, tell me your biggest fear about beginning this journey.

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