Becoming financially independent is a dream for the vast majority of people. For a couple of people, this is not dream anymore. It has become their own reality.
Read the article and you shall be on step closer to your goal. And, as the ancient wisdom says, every voyage starts with a first step. That is the most important one. The most important and the hardest to do.
Nathaniel Sillin wrote an article for Huffingtonpost.com in which he makes a list of ten ways one can take in order to become financially independent.
10 Ways to Become Financially Independent
Visualize first, then plan. Anyone’s vision of financial independence can probably use a reality check. Start by considering what your vision actually looks like and then gather some qualified financial advice to set — or reset — your course. The path to financial independence may be considerably different at age 20 than it is at age 50; the more time you have to save and invest generally produces a better outcome. But whatever age you are, start by getting a realistic picture of what options you have. Read more
It is important to start on the path. You don’t really need to have a full working plan before you start. What is important for you is to start. Then, on the way, you’ll learn while doing. You’ll make mistakes and you’ll become better and better. New ideas will knock at your door and go. Take what you like and go on. Make more mistakes and grow. That’s the way it goes.
If you want to know where to go, read the article written by Kristin Wong on Twocents.lifehacker.com. It teaches you how to calculate the length of your path of becoming financially independent.
Calculate How Long It Will Take to Become Financially Independent
For most of us, financial independence won’t come easy. It takes years of spending less than you earn. If you’re curious just how long it’ll take for you to reach this stage, give this calculator a try.
If you’re a fan of the popular money blogger, Mr. Money Mustache (MMM), you’ll appreciate this tool, which was built by fans and readers of his site. MMM discusses the topic of financial independence quite a bit, breaking down both the numbers and psychology behind it. He’s pretty straightforward about what it takes to reach this stage. For example, in a recent post on early retirement, he wrote: Find out more
There are people who are considered to be titans of this area of activity. One of them is Jim Rohn who teaches you how to become financially independent, if you watch the following video:
On the whole, one of the most important steps is spending less than you earn. For instance, if you want to buy something, say a pair of led shoes cheap you should wait for the proper time, for sales, for instance. This is called delayed gratification.
Originally from New York City. Sports and music enthusiast.