After you’ve built your emergency fund, it’s time for investing.
You can be confident that you won’t have to rely on your income to pay your basic expenses once you have built an investment foundation. You might be building wealth and managing it well, which could help you get financial freedom.
You should now have solid, long-term investments. Your investment income should be sufficient to support your lifestyle. Your investments should pay dividends at this point.
This is what people long for. While you can afford the essentials, it is important to be able afford luxury and comforts.
You may be able take on greater risks and seize more opportunities. You can now buy a lakeside home and turn your passion for interior design into a job.
Ta-da! It is important to have enough income from investments that you are able to invest more than you actually need. This is where you should focus on responsible stewardship for any beneficiaries.
Although financial independence will not be easy, it will be worth the effort.
There you have it. It is not an easy road to financial independence.
It is possible. It is possible to make decent money but not reach the next few stages. It’s all about making the right choices that will get you there.
Financial freedom is not something to be taken lightly. We believe you can achieve financial freedom if you work hard and make smart money decisions.