You may think you have to be an entrepreneur to achieve your goal of financial freedom, but that is not necessarily true. While it is true that owning your own business is an excellent way to generate passive income, financial freedom is not entirely dependent on business ownership.

As an employee, you probably already have some excellent savings and investment vehicles available to you. By using these opportunities wisely, just about any employee can achieve the goal of long-term financial freedom. Even if your employer does not offer a traditional pension plan, and very few firms do these days, chances are they offer a 401(k) or similar program to help their employees achieve financial freedom.

Taking advantage of the retirement options available to you will help you generate what is known as passive income. Unlike the income gained from your job, passive income is money gained with little or no effort on your part. Think of it as your money working for you. You may be surprised at how quickly your passive income stream can grow through these investment vehicles.

Individual retirement accounts are another excellent way to both save for retirement and generate excellent passive income once you have retired. Most employees are eligible for these types of programs, and even a little bit saved each year can grow to a significant sum over a number of years. The younger you are the more your investment can grow. Don