The Pillars of Financial Independence
Getting to FI is a combination of discipline, strategy and enjoying the process
Emergency Fund
Allows you some room between life and your plan.
Getting Rid of Debt
Debt is (mostly) deadweight holding you down, with it progress is unlikely.
Hustles
Jobs are frail and provide a false sense of security. It is critical to diversify your income.
Investing
The multiplier. Inherently risky, but a key aspect of FI.
Purposeful Living
Being intentional. Having a strategy for life. Eliminate the unnecessary.
How to get to FI?
The first step is to make an honest assessment of your current situation. How much debt do you have? What are your financial goals? Life goals? Despite finances being hard numbers, they are largely emotionally driven - to be able to make significant progress, a clear and slightly out of reach goal has to be set.
- Establishing your foundation and setting your goals
- Getting out of debt
- Investing and generating side income
- Reaching almost FI status, to prepare you for FI
