What is Financial Independence

You have FINANCIAL INDEPENDENCE when your unearned income can pay for your expenses. You can be financially independent when you spend a lot and investment income is high. You can be also financially independent when you have much less assets but your expenses are low. So net worth is a factor, but just as important is your expenses. There are also degrees of financial independence. … Continue reading What is Financial Independence

How to be financially independent?

Observations of people over several generations simply suggest this: Financially independent people have recurring income from investments. They have investments because they saved, and learnt to invest. They were able to save because they spent much less than they earned. Finally they were able to have good earnings because they learnt. LEARN – Be a Star Student EARN more than your peers SAVE half your … Continue reading How to be financially independent?

Complete your Education

Whatever your talent, it always makes sense at least to finish school. The school and university route to a career is still the least risky one to take. Unless you see an opportunity that will never come again in your lifetime, complete your university education, preferably leaving with a professional qualification. The reasons are: Data consistently show that generally more education corresponds with more income. … Continue reading Complete your Education

Quickly grow a non-career identity

Many people tie their sense of self to the work they do. If they work for only one employer in their lifetime, they might tie their self-concept to the company. We hear horror stories of Japanese employees who continued the daily routine of dressing up, taking the train to work, and hanging around their old offices. There are similar stories in other countries. A close … Continue reading Quickly grow a non-career identity