Financial Independence Fundamentals

By IntroBooks Team

The concept of financial independence is essential in all the
parlances of economic planning. The term financial
independence in itself connotes a meaning of saving for all the
future expenditure to support for the expenses. The concept of
financial independence is of interest mainly to people looking for
retirement and life after it. Saving for the same is necessary to
avoid dependency on anyone, and the methods are unique.
The two conventional methods of achieving financial
independence are bought asset accumulation and expenditure
reduction. Both methods have their way of methodologies and
difficulties. Financial independence is majorly linked with income
flow and the available surplus with the people to manage the
same and become financially independent. It is only the wealth
accumulation that helps a person to be financially independent
and in a world of heavy competition, being financially
independent is of utmost importance.

• Language: English
• Publisher: IntroBooks
• Release date: Nov 1, 2019
• ISBN: 9781393654926

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Financial Independence Fundamentals

IntroBooks #601

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Copyright © 2019 IntroBooks

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Preface

The concept of financial independence is essential in all the parlances of economic planning. The term financial independence in itself connotes a meaning of saving for all the future expenditure to support for the expenses. The concept of financial independence is of interest mainly to people looking for retirement and life after it. Saving for the same is necessary to avoid dependency on anyone, and the methods are unique. The two conventional methods of achieving financial independence are bought asset accumulation and expenditure reduction. Both methods have their way of methodologies and difficulties. Financial independence is majorly linked with income flow and the available surplus with the people to manage the same and become financially independent. It is only the wealth accumulation that helps a person to be financially independent and in a world of heavy competition, being financially independent is of utmost importance.

Summary

Financial Independence means merely to have money to pay for all the expenses throughout the future. This comes not just by saving, but another important thing is to make investments and generate financial independence and generate wealth generating ideas and follow them. The essential step to do so is by saving some real money rather than having credits. Taking a debt is not the right way to get independent as if one has a credit card, it does mean that they are financially independent since credit cards are debt with high interest. This factor in itself is opposite to the true nature of financial independence. The central concept of financial independence is to be understood clearly and only then one can deduce the methods. The best way to achieve financial independence is to spend less than one earns and paying all the expenses and debts, if