What Does Financially Independent Mean?

Not relying on others for financial support. Being able to fully support yourself.

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Having enough assets and passive income to cover your living expenses without having to work.

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Building wealth through investments rather than only earning an active income. Using compound interest to grow money.

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Having emergency savings and being prepared for unforeseen circumstances without going into debt.

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Being free from the need to work for money. Having the freedom and flexibility to choose how to spend your time.

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Having low debt levels and managing debt responsibly. Not being beholden to creditors.

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Controlling your own financial destiny. Having financial security and peace of mind.

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Having multiple streams of income from assets like real estate, stocks, and businesses to replace active earned income.

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Achieving financial goals like saving for retirement or children's education without financial stress.

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Leaving behind a financial legacy for the next generation and causes you care about.

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