Financial independence is the state of having enough passive income so that when you're doing that, when you drop everything
financial independence or not, what has come to be called the 4% rule is a good guideline.
So what is financial independence ?
I define financial independence as the point at which your passive income typically, but not always, through investments is enough.
So I reached financial independence by picking stocks and picking mutual fund managers-- active managers-- who could pick stocks or thought they could pick stocks.
Four layers of financial independence First of all, I'd like to distinguish between independence and freedom.
quite fearful of never having my own financial independence .
A lot of people who reach financial independence -- and I reached it when I was 31.
But a lot of people who reach financial independence often find that nothing in their life necessarily changes.
And it's a roadmap to financial independence and a rich, free life.
So the fact that I had some financial independence , there was this thing that was lurking in the back, and then met Magnus was the final push.
How do we achieve our financial independence ?
And they're given some skills for financial independence .
But when we reframe that as financial independence and how taking better care of your money leads to this flourishing of freedom,
So the first layer of financial independence I talk about is this freedom of the mind.
OK, so financial independence is an interesting concept, and it's one that's gained a lot of popularity in the past few years.
And this is a source of endless debate within the Financial Independence community, which is abbreviated
There are really only three steps to achieving financial independence : Grow the gap, invest the gap, repeat.
Games can be a very effective way towards financial independence .
Now when we talk about-- so the last portion of the definition of financial independence is this concept of enough.
that three things became really clear which was I wanted my own financial independence , I wanted to have a big impact, and I had this sense
But the most important thing is it is the most powerful way to reach financial independence .
And how do you avoid being affiliated with a power is with your financial independence , most of the time.
Some of them will be emphasizing teaching young women some degree of financial literacy and financial independence , since that turns out to be one of the things
I want to help you reach financial independence by making smarter decisions with your money.
So I'm sure, the same thing-- I've been focused on financial independence my whole life, since I started working for my family's business at, like, eight years old.
Now, first of all, so financial independence is the point at which your passive income, typically through investment-- so what we mean by that?
And the example that I often like to use is-- so a lot of people conflate financial independence
I think there are a lot of folks tuning in or folks in the audience who have read financial independence books, and maybe their eyes
I tell people that long before I discovered or embraced indexed investing, I'd reach financial independence .
I don't know the inner details about how you do it because there has to be a lot about financial independence , it has to be top-level CEO support,
So this motivated me to create a nonprofit called Assa in Mali to address issues like girls' education and women financial independence .
So you are sovereign beings so that's your first layer of financial independence is your own sovereignty.
And then over time the next layer of financial independence is you start to see that surplus savings can be invested in such a way that it throws off an income.
And your best known, you know, kind of in the personal finance community for talking and writing a lot about financial independence .
I mean, I completely resonate with the idea of financial independence .
Because unless you happen to get lucky with a rising market-- and that does happen-- it's generally not the best thing you can do with your money if financial independence is
Be careful, parents, what you allow your kids to do because financial independence meant after two years, that when they said, OK, now you