Dividends have produced forty percent (40%) of market returns.

The Ten Steps to Financial Freedom, according to Kevin O’Leary, Chairman of O’Shares ETF, and better know as “Mr. Wonderful”,  are::

1. Get committed to a plan. Start by coming up with a clear “why”. Know your purpose and incentives for wanting to achieve financial freedom.
2. Know your numbers. You must create a budget.
3. Cost planning. Live within your means. Think twice before spending. Cut cost in order to save 10% to 15% of every paycheck.
4. Go to war against debt and never surrender. Debt is the opposite of passive income; it erodes your asset base while you sleep. Don’t indulge your inner spending.
5. Income plan. Focus on increasing income more than decreasing spending. Earning more is key. Before you spend, save. Invest surplus cash before you spend. Purchase assets that pay cash flow like dividend stocks, bonds or rental real estate.
6. Emergency planning. Your the CEO of the business of your own life. Have cash reserve of three to six months of essential expenses. Remember, your psychology is always working against you and achieving financial freedom.
7. If it matters, measure it. Know your expenses and income. Keep track of everything to ensure you can course correct if something goes wrong.
8. Tax planning. Think about how much money you can save with simple tax planning. Use traditional IRA or Roth IRA. Also, consider donating to charities.
9. Financial advisor. Hire a financial coach to help manage your money.
10. Freedom formula. Freedom is when you have enough passive income generated from your assets to cover your essential expenses.

https://youtu.be/HsUQoEOu_bE