Top 5 Ways to Start on the Path to Financial Independence

You want to become financially independent. Who wouldn’t?

Financial independence (FI) is a life status everyone should strive to achieve, no matter how content one might be with work and at home life. The freedom to live without the constraints of paycheck-dependence is a pinnacle I’d like everyone to experience.

It’s tough to know where to start, though, and inertia will fight to maintain your status quo. However, once you get that boulder rolling, FI is practically inevitable. Have you ever tried to stop a boulder from rolling downhill? I don’t recommend it!

There is no one simple trick to get you from intrigued today to FI tomorrow (unless you’re 99.997% of the way to your FI goal today), but I can give you some quick tips that can be the nudge that gets your FI boulder rolling in the right direction.

Top 5 Ways to Start on the Path to Financial Independence

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If you aren’t automatically maxing out all available tax-advantaged retirement accounts, this is a great place to start. To do so, you’ll need to know three things.

#1 Max Out All Available Retirement Accounts

1. What accounts do I have available? 2. How much can I (or we) put into each account? 3. How can I automate the process?

The answers to the questions will vary somewhat from person to person, but the process of discovery should not be too difficult.

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