Wednesday, February 13, 2008

Financial Independence Is A Choice

In this day and time we are looking at financial challenges all around us. How do we survive the crisis of the housing industry, layoffs that are at an all time high? Some of are being hit harder than others because we were not prepared for this type of challenge. As adults, we have to prepare our children for these kind of times. Financial independence is not automatic. It is not something that we have to take for granted that our children will achieve. We have to educate them early so that they are not unprepared for time like these. My interview with William R. Patterson, author of the Baron Son speaks to this like none other.

Felicia: William tell us a little bit about what prompted you to write the Baron Son?

William: The choice to be financially indenpendent is not necessarily a logical decision. It is really about helping people overcome those emotional hurdles. So we wanted to help them overcome those emotional hurdle through story telling.

Felicia: What prompted you to write it in the manner that you wrote it in?

William: We wanted it to be a timeless tale. We call it "ages past" Our desire to do this story was evolved out of the late ninetees when we were in similar economic conditions as we are today. People were losing everything. They were struggling in their relationships, and some were suffering from debt related depression.
We wanted to give people a way to rebuild so that they would not repeat these mistakes.

Felica: Were there any personal influences as a young man, that led you to this path that you are on today?

William: Absolutely, I can remember asking my father for an allowance and he said no, but he said he would show me how to find wealth. He told me that instead of buying a high-priced pair of sneakers, I could invest in that company's stock to build wealth.

Felicia: About how old were you at that time?

William: I would say early teens.

Felicia: So you were in the early stages of becoming a young man.

William: Yes, my father taught me how to buy candy in bulk and undercut the local corner store and make money that way as well.

Felicia: How important do you think it is for parents to take that apporach with their children? A lot of us go into adulthood not prepared for the different things that are going to come our way in terms of finances, investing or even work ethic.

William: It is of critical importance. If the children do not learn financial responsibility, then most children are doomed to repeat the behavior of their parents.

Felicia: So for people who have not had this information passed on to them from their parents or mentors, what do you say to those people? They are not in their teens. They may be in their 30's or 40's?

William: It's never too late to begin turning around your financial situation. But you need a mentor or coaching system.

This is information that we all need. Do go without this knowledge! Listen to the rest of this interview with William R. Patterson. He is giving critical information to achieving financial freedom. He gives the top seven reasons why people do not succeed. This is more than LipService!

You can reach William at:

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