What are some creative ideas or suggestions that facilitate creating financial independence?

Question

I'm not interested in "Stock tips", Mutual funds or any other hands-off investing strategies. While I do participate in 401Ks, IRAs (traditional and Roth), and taxable brokerage accounts, I believe that I need other parallel asset building activities where I have a more active role in determining the return on investment.

Investing in equities, bonds and the like leaves success up to a few corporate executives and the emotions of millions of weekend investors. I invest in companies and market sectors that I believe will grow in value, but I want more.

If you had a few thousand dollars each month to use towards increasing your financial health/wealth, how would you use it?

Again, I'd appreciate suggestions that do not include exchange based market investments. I'm looking more along the lines of a business venture. I'd most appreciate suggestions from those who are where I'd like to be (those who are financially free-a.k.a. work because they want to, not to pay the bills )

Answer 1

A few options:

Franchise. This is the simplest method for starting a business where much of the marketing, corporate, and other details are handled for you.

Start your own business. Find something you are good at and love to do - then find a way to monetize it.

Fund a start-up company. This is a high-risk proposition, but can be very satisfying (depending on level of involvement) and can have very high returns.

Hope this helps!

Answer 2

Go for the internet business which require less of your time and the one that will not make you feel headache with web designing or which require IT knowledge. Second, choose the internet based company which offer you the opportunity and at the same time giving you the convenience to start the business where all the things are automated. Third, choose the business which does not require big money to start it.

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