What should you know?
Chances are, you are already financially independent…somewhere.
You could jump on a plane tomorrow, move to a remote village in a distant part of the world, and live a basic life without needing to work again. The problem is,that is probably not the life YOU want.
The lifestyle you strive for likely costs much more. You probably want to live in a nice house, take nice holidays, go to nice restaurants, have access to good healthcare, and continue to enjoy everything else that is important to you in the life you have become accustomed to.
Why should you care?
You achieve financial independence when you have sufficient resources to sustain your desired lifestyle without ever running out of money, whether you are working or not.
During your career, when you have a consistent income, maintaining a great lifestyle is easier. The big challenge comes when you want to stop working. The more expensive your lifestyle is, the more resources you will need to accumulate to be financially independent.
Big lifestyle = Big number
Small lifestyle = Small number
It’s a simple concept, but one that is often underestimated.
Nobody is stopping you from having the lifestyle you desire, you just have to understand it’s up to you to build the funds to facilitate it.
If you want to secure your future and eventually stop working, you must start by understanding how much your lifestyle costs now and how much it will cost in the future.
Only then can you calculate how much you will need to reach financial independence and know the steps required to achieve it!
