Getting Paid to Live

Living on your own means and doing what you want to do sounds pretty awesome. You are not forced to work a job that takes up most of your day, instead you choose how your day looks. This isn’t some far-out dream but it is actually reality and it is something that people all over the world are doing every single day. This can all be done by having something called financial independence.

Financial Independence: Having enough income to cover your expenses without having to be employed.

Financial independence is achieved by creating an investment vehicle that will drive you to a secure future. This vehicle will enable you to quit your job if you so please, freeing up your time to do as you wish. This may sound great but there is a lot of work involved in creating this vehicle.

It is important for any person who is looking to achieve financial independence to track their expenses. You have to know how much money is leaving your pocket and what it is being used for. Today there are many apps that help you track your expenses or you could just write everything down. The option you choose doesn’t necessarily matter as long as it works for you and you see where the money is going.

After you have found out how much you are spending, it is necessary for you to see what expense was a necessity and what was not. Basic living expenses like housing and food cannot be eliminated from your monthly bills but I ask can you decrease them? Can you choose to pack your own lunch each day instead of eating out? Other expenses you have tracked may expose some of the ways you spend money unwisely. Are you purchasing things you don’t need just because it seems cool? In order to begin to achieve financial independence, you’ll have to cut out these unnecessary expenses completely or until you know you can afford them without thinking twice about it. By making small changes, this will decrease your expenses and help you on your way towards financial independence.

Next, you will begin to take the money you have saved from cutting away your expenses and invest it. I personally will advocate for real estate as I see it as the most effective way to build wealth. You can start with a house hack and over time build your portfolio so that it is bringing in a nice and steady paycheck each month.

It is when the income from investment properties exceeds your monthly expenses that you achieve financial independence. Now it is up to you to choose how to live your life. Will you spend more time with your family or friends? Will you travel the country or even the world? Or will you choose to take your free time and volunteer? The choice is yours, spend it as you wish because you deserve it!