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22 May 2019


I thought a refresher post on financial independence makes sense, in light of new developments in my life. I finally quit my part time job over a year ago. I am not retired yet but I only work on what I enjoy working on at any given time. I realize that I have almost reached the goal I had set from the very beginning. That of living my life in my terms.

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financial independence
A lot of people have ruled early retirement out as a dream that is impossible to achieve. They are so wrong. Anyone can achieve the state where they have enough wealth that they do not need a job or any form of paying work. How lovely it must be to know that you own your time and thus your life. But even better, how exciting it is to believe in that possibility and claiming it for your life. Make that happen for yourself. You are so deserving.

I am very proud of myself for being so close to my idea of reaching financial independence. I am so close, I can almost touch it. I will break down how I am ensuring that I will reach the ultimate goal and retire or do whatever I want to do with my life. Travel would be very nice. Every single strategy listed here is within our control. We are not building castles in the air.

1. Lowering Expenses.
Most of my readers are fortunate enough to have formal employment and therefore an opportunity to save and invest. We all know by now that we should pay ourselves first and only spend after. We also need to know what our priorities are and cut costs on any expenses outside those. I love going to a beauty spar and not so much eating out. However, with my current setup of working from home, I have decided to go out for coffee every week and rather cut on doing my nails. I have not visited my nail technician in six months. I will probably stretch it to a year or longer. I paint my own nails. That is already saving me some R400 per month. I will survive my healthy natural nails. I know I am trying hard to convince myself.

2. Building Multiple Streams of Income.
I am currently using all the skills in my possession to earn some income. I am a personal finance speaker, as I'm sure you can imagine. I also do some technical economic work to keep my brain active and of course earn some income. My speaking assignments used to be for free. I have started charging a fee as I need to take valuable time to prepare. And of course the property income which is the main source of my income. Writing is still a hobby but definitely not for long.

 3. Investing in High Return Vehicles.
Apart from real estate, the stocks are an amazing way to grow one's equity. I am still a huge fan of exchange traded funds (ETFs). I am diversifying with a number of off-shore options. ETFs is one of the most exciting investment tools. It is relatively easy as management is fully outsourced.

4. Building Passive Income.
Over the years I have realized that real estate is not a source of passive income. I do not even manage my properties, but I somehow find myself doing a lot from marketing to working on the physical structures. However, dividends from stocks are one hundred percent passive. I love that a lot. 

5. Start Early.
I think I started early enough. But starting at any point is great. Just start where you are. Working on reaching financial independence is very much worth it. We owe it to ourselves.


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