10 Principles of Financial FreedomFinancial freedom is not entirely simple to define. You might define financial freedom as having so much money that they can do whatever you want, without regard for cost. Under this definition, only Warren Buffett and Bill Gates and people at that level of wealth have achieved financial freedom. I use a broader definition. Financial freedom is being able to choose how you spend your life rather than having your choices dictated by the demands of your debts, monthly bills, and other financial commitments. Financial freedom means that you have a life that is in balance. You may still work for a living, but your actions are aligned with your values, you have a financial plan that will take you to your long-term goals, and satisfy your values with regard to work, family, and success. This definition encompasses a more traditional view of financial independence, but it is considerably broader. This is not freedom from any need to get up in the morning—it is having the ability to choose your path in life rather than having your path determined by financial encumbrances. Vast numbers of people could achieve this type of financial freedom if they understood some basic principles and applied them in their daily lives.
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Yes, You Can Supercharge Your Portfolio!
Stein and DeMuth's book features Quantext Portfolio Planner.
Ben Stein and Phil DeMuth have done a great service to investors as well as Finance students and professors by writing a book that puts into practice the principles of modern portfolio theory. Kudos also go to Geoff Considine for harnessing the power of Excel to bring these insights to everyone's desktop. As a result of both the book and the QPP software, I now start off my investments class with a series of lectures and demonstrations to show students - in real time - why it's the whole portfolio that matters and, just as importantly, how we can "supercharge" our student-managed investment fund portfolio.
Dr. Kenneth J. Martin, Regents Professor of Finance, New Mexico State University