Financial Independence – what is it really? Is it when you finally rid yourself of all debts and can actually afford to buy some bling with cash? Or is it when you finally have enough money socked away for that inevitable future emergency?
There are many different opinions about financial independence. Some of them are blatantly wrong (like the emergency fund statement above), while others are close but are stretched a bit so that financial independence becomes more achievable for them.
A little advice for you. Don’t dumb down financial independence just because you’re not even close. Learn what it truly is, decide if it’s for you. And if it is, then work your butt off to get there in the least amount of time possible!
What is Financial Independence?
Surprisingly, I think Wikipedia did the best job defining financial independence:
Financial independence (FI) is generally used to describe the . . . → Read More: Financial Independence: It’s Not the Final Chapter