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camachoborracho is taking it one hour at a time

Become Financially Independent
A question about this goal: How do people define financial independence here? June 16th, 2010 14:31

Answers:

paying your own bills, paying your own rent, buying your own stuff, and paying your debts.

maybe…

I think it’s just not relying on someone else’s money to pay for your living expenses.

but maybe it means not having a boss…

if you live in your parent’s basement and you don’t pay rent, that’s not it.

if your spouse pays for your stuff, that’s not it.

if your bills are getting paid by someone else, that’s not it either.

When I initially put this up I did not yet have a job out of college and so I had most of my living expenses covered by family. At that time, I wanted simply to be able to pay for myself in terms of things like rent, food, etc. A lack of dependency on others, mainly.

Now securely able to do that, I think it’s taken on something of a different meaning where I’d like to eventually be free of needing to work which I guess would mean accumulating enough wealth that I have the luxury of doing whatever is most interesting to me.

Ross I love life!!

Personally, I define it as: “A place in life where you no longer need to rely on income from your day job, you rather, rely on other sources of income. For example: Rental Properties, Shares, etc…That means your day job income goes into your investments, therefore creating more income”. Goodluck on your journey!!

No debt. Not living paycheck to paycheck. Able to pursue your hobbies/goals/dream without any financial burden.


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