Financial Independence & Money Management

What it means by Financial Independence? Does it mean that you are Rich Now? Does it mean that you have to be Rich to be Financially Independent?

Financial Independence does not have anything to do with Rich. Financial Independence means You no longer have to depend on your hard earned Money. It means that weather you work or not, The Income from your Assets (& other sources) is much more than your expenses.

It means that Your Passive Income is much much higher than your Active Income. So Weather you work or not in the Economy, Your Passive Income from various sources will maintain your life style.

Financial Independence in true sense can be achieved. In other words, Financial Independence means Retirement. You can chose the path of your life & not allowing the circumstances to chose the path of your life.

So How Can you achieve Financial Independence?

Well, you can achieve Financial Independence in your life very early. Earlier than the usual retirement Age (60-65 years). But for that you have to start 2 things early.

- One is Investments &

- Second is Start Developing your own Assets (Businesses).

I have observed that the people who have started the above 2 things since their early life have become Financially Independent very early in their life in comparison to those who have started one or 2 of the above things in their late lives.

I have also observed that, people who don’t believe in Investments & Developing Businesses (Probably because they think that it is Risky) can not retire early in their life. In fact, they can never be Financially Independent in their lives. They have to work in the economy even after the age of 65 years to accommodate their expenses.

So Starting Investments & Developing your own Businesses is very important in your life to achieve Financial Independence.