Why’s your financial independence important?

by Syl Tamanda

Nowadays, financially independent and retire early(FIRE) have emerged from all over the place. You’ll find FIRE promoters are on blogs, YouTube, Tiktok and other online mediums.

source: bing.com

Despite the growing call for everyone to become financially independent, the world is still very much divided into the Rich, the middle class, and the working Class.

The simple fact is that, if you haven’t figured out the dying reason why you want to become financially independent in the first place, the chances of that happening are very slim.

Investing in order to gain financial freedom is a process and there’s a lot of learning to be done on a daily basis. It would take time, some financial education and a lot of mistakes for you to get there. Focus on building a solid foundation, and view the race as a a marathon not a sprint.

Step 1: Get A financial education.

There are several options and it is important to find out which type of investment is best for you. These include stocks, real estate, bonds etc. You can learn through books, blogs, podcasts, seminars, mentoring, financial news papers and magazines, talk to experienced investors.

After a few bad choices on the stock market, I realised I lacked a lot of knowledge in that domain. I starting looking for websites, social media groups, books, and Youtube channels that could equip me with the information I needed in order to making wining choices.

Step 2: Pay attention to the process and not the outcome

Investing is a process and not a get rich quick scheme. As a go through the process of becoming investors, we make a lot of mistakes from which we have to learn.

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