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If you had asked me what \u201cfinancially independent\u201d meant 30 years ago, I would have had the answer \u2026<\/p>\nIf you had asked me what \u201cfinancially independent\u201d meant 30 years ago, I would have had the answer \u2026<\/p>\n
\u201cEnough money in my bank account to do anything I want, whenever I want.\u201d<\/p>\n
And in my opinion, I had achieved it!\u00a0 Or at least, so I thought.\u00a0 Realistically, I didn\u2019t know much about anything in those days, and as such, my wants weren\u2019t all that significant or frequent.<\/p>\n
These days I\u2019m 61 years old, I have almost everything I could wish for, and I\u2019m on the verge of retirement.<\/p>\n
Would my response be the same?<\/p>\n
Am I financially independent.\u00a0 I\u2019m not so sure.\u00a0 When we\u2019re young, it doesn\u2019t matter that we use vague terms like \u201canything\u201d and \u201cwhenever\u201d.\u00a0 We expect to live a long life, so there\u2019s always time to sort out the details.\u00a0 But as we get older, we become more and more concerned about those details.<\/p>\n
Why?<\/p>\n
Well, because those details matter.\u00a0 They bring a certain reality to our world.\u00a0 Unfortunately, that reality is often more difficult or costly than we expected.<\/p>\n
Let me give you an example.\u00a0 My retirement plan includes:<\/p>\n
Now, looking over my list, you quickly realize that most of these things cost money.\u00a0 And in some cases, significant money.\u00a0 I already own the RV, mountain bike, computer equipment, and photo\/video equipment.\u00a0 So, I\u2019m good there.<\/p>\n
But what about the rest?<\/p>\n
RV\u2019s require maintenance, fuel, propane, water, parking spaces, and such.\u00a0 Jeeps aren\u2019t cheap.\u00a0 They also need fuel and maintenance.\u00a0 Mountain bikes break and demand repairs.\u00a0 Photo\/video equipment and computer equipment require constant upgrades, blah, blah, blah.\u00a0 You get the idea.<\/p>\n
Certainly, my retirement savings will help.\u00a0 I\u2019ve had my nest egg in place for years.\u00a0 But I\u2019m now thinking that it may not be enough.\u00a0 As prices continue to rise, and my interests expand, it makes sense to cultivate a supplementary source(s) of income.<\/p>\n
Interestingly, there are many to choose from on your way to being financially independent; various writing endeavors, online gambling, or even the get-rich-quick scheme of the day.\u00a0 Regardless of what it happens to be, it should provide the following:<\/p>\n
You don’t have to be financially independent to survive these days.\u00a0 Careful selection and planning of a passive revenue stream can make all the difference.<\/p>\n
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If you had asked me what \u201cfinancially independent\u201d meant 30 […]<\/p>\n","protected":false},"author":1,"featured_media":4396,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[262],"tags":[],"class_list":["post-2211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-miscellaneous"],"yoast_head":"\n