1. After we finish schooling, which is a better career to go with? Business or employment / corporate ladder?
Unless you went to business school it's usually better to start working for someone else first to gain valuable experience and connect with industry professionals. Once you have built up a network of qualified contacts and are confident about competing head on for business in the open market, then you can start your own company.
This way you increase your chances of succeeding on your first try as an entrepreneur. Of course it depends on your personality as well because some people are more comfortable working up to a senior position at a large firm.
2. If I’m busy with my present scenario, can I still attain multiple income streams?
One of the things money can't buy is time. If you are already overworking and can't find a way to increase your spare time then there are still ways to increase your income streams but your options are limited to passive income only.
For example, if you own a house you can rent out the basement suite. You can also invest any savings you may have in a fixed income vehicle or a dividend stock to receive monthly or quarterly income. If you don't have time to research stocks you can always buy an index ETF.
3. I have saved an amount of money, where should I invest it?
I would invest money today mostly in real assets. I think land, precious metals, and the tech sector in the equity market are particularly good long term opportunities right now.
Personally I recently bought some
farmland, gold stocks, silver stocks and bullion, and Google shares.
With global central banks printing so much money the value of our
currency is dropping every month. To protect ourselves against inflation
we need to hold onto some hard assets.
4. Is mind setting very important in attaining our goals?
Absolutely. We can feel rich or poor simply by changing our attitudes towards our personal financial situation. We can also become wealthy and retire early if we have the right mindset and set attainable goals starting today.
He who fails to plan, plans to fail. The future is full of
unknown events, but we all have at least some control over our own
paths. Most people don't retire with a million dollar net worth not
because they couldn't do it, but because they didn't believe it was
possible when they were younger.
5. Where should I start my journey to financial freedom?
Read everything you can about finance, economics, and business. Learn how the rich make their money. How they protect their profits from taxes and other expenses. And how they invest their savings. Read as many books, business articles, and general news about personal finance as you can.
Over time you will grow into the correct mindset of wealth building and
you will know exactly what you have to do to reach financial freedom =)
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