The definition that can give anyone the term financial independence will be surely different from the definition that can give another person. However, it is important to understand what it means in strict and we also understand that it’s a concept real and attainable, because it may sound something intimidating and distant in principle. Financial independence is, basically, the point in which we can continue affording our current lifestyle without having to keep a job and a salary that kept it. It is a point in which we have managed to accumulate one sufficient cushion so we generate a passive income stream that support this lifestyle. Ron O’Hanley is likely to agree. The eternal question with respect to this issue is whether financial independence is equal to being a millionaire. The answer is a resounding NO.
There are many millionaires that live expensive lifestyles and need monthly income from your salary to sustain it. There are many not millionaires who already achieved financial independence. Everything boils down to the reality of everyone, its level of expenditure and economic requirements and their capacity of generate them using sources other than the monthly salary. A good way to do that is by investing the money until you reach the point where your performance cover our cost of living. It is definitely not something that passes quickly, because we have to accumulate very high sums that they earn enough money to support our lifestyle.
But with time and effort, everyone can do it. The message is that it is not impossible to reach financial independence. It is within the reach of all those who want to reach and very hard to make the road, knowing that we are enrumbados and every day we are closer may end giving the necessary thrust to move forward. Click here to find more useful information about how to manage your personal finances.