If you ask people what being financially independent is, you will always find that people have different definitions. Some people will tell you financial independence is having a comfortable home, a comfortable job, and the freedom to go on vacation whenever you need to. Hearing distance from people might look and sound glamorous. However, most of them will always have a higher expense rate compared to their income rate. To learn more about Financial Independence, visit here. If you think about it, this is not financial independence. When you have a passive income that is way higher than your living expenses, then you are getting to financial freedom or stability. It is essential to reach this point, and here are some of the reasons why.
Retirement Becomes a Possibility
Financial independence means that you have the right strategies in place that can take care of you and your loved ones for a long time. Read more about Financial Independence from financial independence blogs. This means that if you want to, you can comfortably retire and focus on other things that fulfill you. Most people who have not achieved financial independence cannot even begin to think about retirement. For them, the longer they work, the more financially stable they are.
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