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Hey my name is Shlomo Freund and I'm the founder of FreeFinancialSelf.com where I help entrepreneurs to reach their financial freedom by planning, investing and optimizing their lives. I just built a tool which I personally use when building my personal wealth. AMA anything.

Shlomo Freund / 张安龙
Nov 22, 2017

What's your lifestyle? 

This is where I was last week. This photo was taken in Lagos, which is a  part of the Algarve region in Portugal. 

I got there after spending the previous 10 days carrying my almost 22-month-old daughter on my back through the Rota Vicentina trail along with my wife. We walked 64 KM of the trail and hitchhiked through some parts that were more difficult and too long to do with a baby on the back. 

This is the lifestyle I like and build for myself. However, that might not be what you are striving for.

But I encourage you to build the life you dream of and not wait for the right timing. There will probably never be a right timing. So, start now! 

Here are some of the things I've done and you can do that too with the right planning and tools. 

  • Manage my own IRA fund successfully (2016 my portfolio went up 38% which is quite nice. It wasn’t exceptionally hard. You just need to know how. And I’m saving lots of money on management fees that are adding up to a nice sum when I retire)
  • Invested in two real estate projects in London and the US. One of them gives a passive income every year. Both are about to be sold BTW.
  • I invest in the stock market for over 10 years now
  • I budget my spending - I optimize my life to fit my financial goals (found a way to build a house relatively cheap and save a lot!) 
  • I maximize my assets earnings as much as I can (rent our place on Airbnb when we are out of the house anyway). 
  • Constantly research new financial apps and products to reach my financial goal faster.
  • Moved for 2.5 months to Thailand for a workation with my family - reducing our expenses to less than $1000/month 
  • Moved for  2 months to Portugal for a workstation (happening now) with my family 
  • Built a company in China which is profitable from the 1st quarter it exists. 
  • Own crypto currency which went up by more than 400% in 5 months.

I just released the tool helping entrepreneurs plan the lifestyle they want. This is also a tool I'm using and keeps me on track with my finances. This is how I calculate my net worth every month.

If you are interested to get the 1st glance of that tool.

What do you need to do to get it?

1. Follow me on AMAfeed on my profile -> click the 'follow' button on the right-hand side of my personal profile.

2. Send me a message with the word 'yes' I'll PM you back the link to the tool

3. Register to my list over at Free Financial Self and get additional 6-day email mini-course - "Master Your Finances"

https://www.linkedin.com/in/shlomofreund/

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Conversation (72)

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what is financial freedom.

Nov 28, 12:43PM EST1

Financial freedom is when you make enough money passively that covers all your expenses. 

Nov 28, 1:51PM EST0

How I first started?

Nov 24, 10:23PM EST1

My first step was learning about the stock market, but this doesn't have to be everyone's first choice. It can be investing in real estate or building a business or perhaps investing through ETF which is simpler. 

Nov 26, 4:15PM EST0

The tools you have might help. But how can you start with limited to zero resources?

Nov 23, 1:32PM EST1

The secret sauce is planning. If you are cashflow negative, You'd need to turn to cash flow positive and then being able to save more and more and invest that consistently then grow from there. 

Nov 23, 7:58PM EST1

Thanks for the advice. Good luck!

Nov 23, 11:30PM EST1

What project are you currently working on?

Nov 23, 5:19AM EST1

Free Financial Self is my main project now. 

I'm managing non day to day tasks in AppInChina

I also podcast about China business on China Business Cast

And blog aobut China entreprenership and business on on StartupNoodle.com

Nov 23, 6:42AM EST1

How much is your 6-day mini-course?

Nov 22, 10:10PM EST0

Free. 

Get it here: FreeFinancialSelf.com

Last edited @ Nov 23, 6:39AM EST.
Nov 23, 6:38AM EST0

What is your financial goal in the life?

Nov 22, 9:38PM EST1

For now I'd keep this number to myself. :) But I'm about to come up with a series of posts on FreeFinancialSelf.com showing the follow of my net worth change and analisys. 

But the bottom line is that this number is very individual. What I think it enough for me might not be enough for you. We don't live in the same place and probably don't want to have the same exact lifestyle in the future. When working with clients, we address that understanding how much you really need and then planning towards that goal. 

I hope this answered your question, please follow up on any further ones if needed. 

Nov 23, 6:37AM EST0

What is the most profitable way to invest money?

Nov 22, 9:21PM EST1

Carla, different things give different profits on different times. It also depends what kind of ricks you wish to take and since I don't know you it's hard to give an advice on this. 

Stock market proven to be over the years a 10% (pre inflation) a year on evarage. Does that mean that it will continue so? I don't know and nobody knows. But there is a long statistics about this so we can say it will be this way onwards in soe confidence. 

Bitcoin risen 750% in less than a year, can it crash down tomorrow. Abosolutly yes. So, it's very profitable and risky. Does that prevents me from buying bitcoin? No, but I do it in a small amoun that won't hurt me and my family if it's gone. 

So, all these things needed to be considered. 

I hope this answers your question. Please follow up on others if not. 

Nov 23, 6:34AM EST0

What is a passive income? How does a passive income differ from an active one?

Nov 22, 6:45PM EST1

Passive income is any income that it not traded for your time. you do need to work for it, but once it's set it will generate income after you'd stop working on this or relatively little work. Relevant examples are, really estate investments, stocks portfolio or a business where you build it and generates value (like dividends) beyond your salary. 

Active income is an income that is traded for your time, like salary. If you'll stop going to work, your salary will stop coming into your bank account. 

Nov 22, 6:58PM EST1

What was your most successful project?

Nov 22, 6:07PM EST1

Depends on what. 

For companies, so far AppInChina. 

My Stocks portfolio went up 38% in 2016. let's see how 2017 goes. 

Nov 22, 6:54PM EST1

How did you manage to create your own crypto currency?

Nov 22, 5:07PM EST1

I didn't create my own currency. This is Bitcoin we are talking about mentioned in the intro. 

Nov 22, 5:31PM EST1

Hi! Will it be okay to interview you in our podcast?

Nov 22, 3:25PM EST1

Yes, sure. Please PM and I'd be glad to schedule time. What's the topic? 

Nov 22, 5:30PM EST1

I've sent a pm. Thank you very much!

Nov 22, 5:36PM EST1

Could you advise me sources where I can learn more about the stock markets?

Nov 22, 3:01PM EST1

There are really endless websites on this. 

I suggest you'd start with some basic courses (on Udemy as an example) and keep learning and growing from there. Yes, you'll make mistakes but treat this as a learning fee. 

Nov 22, 5:30PM EST0

What is a crypto currency? Why is its popularity so high today?

Nov 22, 2:48PM EST1

There are better experts than me explaining cryptocurrencies. In a nutshell, the currency is based on technology that is called blockchain which creates the security for verifying transaction within a network of people. 

This means that now you can make those transactions and the currency is called cryptocurrency, where the most famous one is Bitcoin. This is due to the fact that it's accepted by the most people around the world. 

This is also the reason that its value grown so much in the past year (about 750% now) and thus it's popularity. Everybody wants to be part of succesful investments. 

Also, recently the bank of Japan decided to accept the currency as a mode of payment which shows the old systems are starting to believe in this new form of payment, so people have more confidence now that cryptocurrency (and specifically in that example bitcoin) is here to stay. 

Nov 22, 5:28PM EST0

How to choose a potentially successful project for financing?

Nov 22, 11:39AM EST1

I need to know more about the specific project to tell you more.

I'd start by trying to see how much it will make a year over the capital invested. Then I'd see if the risks involved are actually worth it. 

As an example, I've been told a few days ago that only very large projects in Portugal for investments will be very lucrative (which later I discovered is wrong BTW).  But What I also know is that you can invest in an apartment in Thailand and rent it on Airbnb and probably get 20% a year on your investment. Which is easier to do probably. 

So, in this example asses the risk and see if 20% of your investment worth the risk for YOU. ( I personally think its worth it and don't see the Thai market is risky). 

Nov 22, 5:22PM EST0

How much do you get via passive income?

Nov 21, 3:50PM EST1

It varies, as some of my investments are in stocks and their value goes up (and down as well).

Some of my real estate investments generate modest passive income (about 4% a year) but the actual profit supposes to come on the sale.

So, it's not consistent.

I'm looking more at what's my net worth every month and how much it changes. That's more important for me. 

 

Nov 21, 4:11PM EST0

If I'll get into business, can you recommend something that has a minimal amount of risk?

Nov 19, 5:36PM EST1

The name of the game is to diversify.

Every business will have some risk in it and should be assessed. But if you invest some of your money in a business, some in stocks, some in real estate and so on you increase your chances of having a positive ROI across all channels. 

Nov 20, 7:03PM EST1

How much does it cost to ask assistance in starting a small business from FreeFinancialSelf.com?

Nov 19, 2:34PM EST1

It really depends on what kind of assistance you need. Get in touch with me directly through the messaging system of AMAfeed. 

Nov 20, 7:01PM EST0

I certainly believe people should have financial adviser. May I know the things you can offer instead of doing it myself and what are the risks?

Last edited @ Nov 18, 9:33PM EST.
Nov 18, 9:25PM EST1

I'm offering training and financial mentoring to help entrepreneurs reaching their financial goals and financial freedom. It's now done on a bi-weekly one on one calls and in the future, the plan is making it available (and cheaper)  for a larger audience through a course and a book. 

Nov 20, 7:00PM EST0

What are your favorite books/magazines about entrepreneurship?

Nov 17, 7:42AM EST1

The lean startup by Eric Ries

The 4-hour workweek by Tim Ferris

Rich Dad Poor Dad by Robert Kawasaki

Nov 20, 6:58PM EST0

Do you speak Chinese?

Nov 14, 11:06AM EST1

Yes, I do. Intermediate level.  Though now when not living in China anymore it's unfortunately degradating. 

Nov 20, 6:56PM EST0

Do you think you will still travel a lot when your kid/s are older?

Nov 14, 10:36AM EST1

mmm...that's a hard question. I hope I will. :) 

But seriously, both me and my wife would like to keep traveling as much as we can and see this as a form of great education for our kids. So, we will do it as much as possible .

Nov 22, 7:01PM EST0

Is your wife also good with money?

Nov 14, 8:56AM EST1

I do most of the financial management for us but make our financial decisions choices together. 

Nov 14, 9:21AM EST1

Do you think buying property is a good idea? Is one not better of traveling a lot and renting?

Nov 14, 5:39AM EST1

I'd buy a property for investment purposes and not for living purposes (though there may be exception cases). 

As an example, when we were in Thailand we were looking at buying a property and rent it out on Airbnb. That gave a yearly ROI of roughly 20% according to the market analysis I made. 

So, I do prefer traveling a lot and renting. I like the flexibility. 

Nov 14, 9:19AM EST0

Who are your typical clients?

Nov 14, 4:33AM EST1

I work mainly with entrepreneurs, as I know that mindset the best as being one myself. 

That being said, I do get the following response when presenting my services. "This can be for everybody". that's true and I can help others as well, but as I mentioned, I'd know more about the entrepreneur mindset myself. 

This is also a business decision of segmenting and messaging to a specific crowd than marketing to "everyone"

Nov 14, 9:25AM EST1

What does your company in China do?

Nov 14, 3:58AM EST1

My company is AppInChina , we do mobile up distribution of foreign apps on the Chinese market. 

Nov 14, 9:26AM EST1

Is your family supportive of you traveling a lot?

Nov 14, 2:50AM EST1

LOL. Depends who.

My wife is VERY supportive and almost all our travels is together. 

The extended family knows that I like it, but it's hard for them when I'm away. I try to balance it all, but I admit it's not simple.

Nov 14, 9:31AM EST1

Have you thought of building an app yourself with the expertise you have on finance?

Nov 13, 1:42PM EST1

No, what would you like that app to do? 

There are so many apps related to finances, so you need to segment. 

However, my plan is building online courses and write a book to teach others about it. This is to reach a larger crowd except from the 1-on-1 I'm currently accepting. 

Nov 14, 9:33AM EST1

How do you price your consultancy services?

Nov 13, 8:36AM EST1

The Consulting service is based on a monthly retainer where I'll couch somebody for a minimum of 2 months to help him plan his finances and optimize them.

Nov 14, 9:34AM EST0

what is your hobby?

Nov 13, 7:56AM EST1

Travel & trekking and biking are my preferred ones. 

This one is from Lagos Portugal and we are now in Cascias close to Lisbon. 

Nov 14, 9:37AM EST0

What is the craziest situation you have had to solve for someone in the financial sphere?

Nov 13, 5:43AM EST1

I'd say the hardest to do is when somebody at a relatively old age looking to plan ahead and has no money. Then he doesn't have to compound interest effect over many years, and also he can't go into more volatile and lucrative areas of investments as he needs to keep his value of money. 

Nov 14, 9:39AM EST0

Where did you build a house?

Nov 13, 5:40AM EST1

In Israel. 

There are more pics on our Airbnb listing

Nov 14, 9:58AM EST0

What is the tool you have released, is it an app or?

Nov 13, 5:31AM EST1

It's an online spreadsheet helping you to calculate your net worth. Glad to share it. Just get in touch back.

Nov 14, 9:59AM EST0

What is the most common mistake people make when managing their finances? Is it the same for individuals and companies?

Nov 13, 4:20AM EST1

Companies have different considerations depends on what they do. 

But for individuals, a common mistake is not realizing how crucial your daily choices are....

Small spending matter, owning a car matters, keeping your money in the bank matters when to start investing matters, not using tax benefits matters, management fees matter.

Nov 14, 10:05AM EST0

Were you always good at managing your finances?

Nov 12, 8:02PM EST0

I was always into finances from a young age. I'm never perfect my opinion (but it can be only me. LOL), and I improve all the time. 

You can read on the list in the description of some of the things I do to manage my finances. But there will always be new things coming up. New investments, opportunities, apps to explore , etc. 

Nov 14, 10:08AM EST0

What are the best financial apps you would recommend?

Nov 12, 2:05PM EST1

Tamara, thank you for your question!  

There are really so many of those so it's hard to really point the best ones. 

I found that it's mostly towards personal convenience and where you are from. As an example, I'm from Israel and currently, there is only a single app that automatically gets the info from my Credit cards and bank statements. It's not amazing, but I'd need to work more with other apps and do manual work which I prefer not to.

Also, there are many areas of personal finance. There are apps for budgeting, apps for tracking expenses and apps for auto-saving and auto investing.

If you'd tell me where you are from and what's your preferences I'm glad to try and help. 

Nov 12, 5:05PM EST1