How Do You Start Preparing for Your Financial Independence?

How Do You Start Preparing for Your Financial Independence?

Everyone dreams about financial independence

—having enough personal wealth to be able to live comfortably and have all basic necessities covered without having to work actively for it. Financial independence lets you have more personal time while still being able to earn substantial income. It pays (no pun intended) to start preparing to be free from the worries of debt and financial trouble—a very important move for retirees or people who are just beginning to earn their keep. So many things could be said on how to prepare yourself for financial independence, but here are 3 important ones to keep in mind.

Start Frugal

The financially-independent life is inextricably tied at the roots to the frugal one. Spending less than what you make, reducing expenses where you can, and setting aside a portion of your earnings to pool into a fund or savings plan like a 401k is a good way to start. Starting on such financial measures early in your career can go a long way in letting you retire early and live comfortably.

Invest Wisely

Aside from maintaining a 401k account, investing your money into assets like stocks, bonds and other investments that create profits is also a big help to realizing financial freedom. Keep in mind that a financially independent person’s assets generate income that is higher than expenses, thus, creating a surplus in money. Make sure a good portion of your money in Safe investments where you never lose principle like equity index annuities with income riders.

Have Multiple Revenue

Flows Finally, consider entering new income-generating activities, whether traditional or non-traditional. While this may seem like an antithetical concept to the “Not Working” idea of financial freedom, getting a second, third, or even fourth source of income is often the easiest way to be financially free.
With these three sensible money management practices, you can get set on the path that leads to financial independence, whether you are young or old.
Kris Miller, Estate Planning Expert and Safe Money Strategist, will guide you on how you can successfully prepare your retirement plan.

For more information on how Kris can help you, call (951) 926-4158 or

email Kris@ReadyForPREtirement.com and

see her #1 Best Selling book at www.ReadyForPREtirement.com

468 ad

Submit a Comment

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Sidebar

Sidebar

View More Results…

To get Financial Calculator Sign Up Here

Name *
Email *
YouTube

Testimonials

Dear Kris Miller: Re a referral of Velma Stengel:   Here is the story for you to share. Velma Stengel my sister lost her Husband of 59 years in March. She had mentioned to me that some neighbors said she needs to se...
Read More..
2015-07-22T23:21:38+00:00
Dear Kris Miller: Re a referral of Velma Stengel:   Here is the story for you to share. Velma Stengel my sister lost her Husband of 59 years in March. She had mentioned to me that some neighbors said she needs to se...
Read More..

Kris Miller has the ability to explain planning for retirement in a way we can all understand and prepare. – Patricia Fripp
2014-11-14T02:26:09+00:00
Kris Miller has the ability to explain planning for retirement in a way we can all understand and prepare. – Patricia Fripp

Having a Living Trust will take a lot of stress out of our lives” - Mr. Randal, CA
2014-11-14T02:27:13+00:00
Having a Living Trust will take a lot of stress out of our lives” - Mr. Randal, CA

Dear Kris Just a short note to tell you how much I appreciate your advice to invest in American Equity it is making my life much easier Sincerely - Patty Matheis
2014-11-14T02:27:43+00:00
Dear Kris Just a short note to tell you how much I appreciate your advice to invest in American Equity it is making my life much easier Sincerely - Patty Matheis

“I would like to say ‘Thank You’ for the professional and personal way you took care of my estate planning and also my investments.” – Coleva A. Rogers
2014-11-14T02:28:34+00:00
“I would like to say ‘Thank You’ for the professional and personal way you took care of my estate planning and also my investments.” – Coleva A. Rogers

Visit Us On TwitterVisit Us On FacebookVisit Us On GooglePlusVisit Us On YoutubeVisit Us On Linkedin



Proud Member of