what is financial independence?

What is financial independence?

Imagine a life where you no longer need to rely on your salary to pay your basic living expenses, this is the life that financial Independence affords you.

Financial Independence is the status of having enough income to pay your standard living expenses for the rest of your life without having to be employed or dependent on others.

Being financially independent means that you can afford to retire and continue living your current lifestyle without having to work for an income.

Whilst this may seem a far reaching goal for many of us, (as let's face it, life gets in the way) it still achievable and many people have and well on the way to achieving this.

There are several roads on this journey such as a change of lifestyle or multiple income streams, which can afford you the option of not being bound to an employer’s obligations but a reliance on your passive income to give you the flexibility and independence you want.

If you are maintaining good financial habits, planning ahead and investing for the future, you can already envision being financially independent.