What does Financial Independence ACTUALLY look like?
"What's your take on Financial Independence?"
That was my favorite question of the week from my good friend and fellow entrepreneur, Adriana Tica.
[By the way her newsletter is PURE FIRE, so you should go subscribe to it: https://www.adrianatica.com/newsletter/].
So, here's how I see Financial Independence:
The "Financial Independence" idea is really a fairly broad continuum...
There are LOTS of opinions and LOTS of definitions...
My wife and I are what is considered "Lean FI".
My personal FI definition is:
- ✅ ZERO consumer debt (preferably mortgage debt, too)
- ✅ Emergency fund (war chest) of at least 1yr of expenses (i.e. cash, preferably more than one year)
- ✅ A solid diversified investment portfolio (somewhat subjective) that includes:
- ✅ Additional Cash Reserves (Emergency Fund's Emergency Fund)
- ✅ Traditional Investments (Mutuals, ETFs, HSA, etc.)
- ✅ Precious Metals (Physical Gold/Silver, NOT ETFs)
- ✅ Bitcoin (very controversial, I know)
- ✅ A business that generates active/passive income
- ✅ An ongoing investment in my entrepreneurial skill stack
What does FI mean to me?
For my wife and me it means:
- 🏆 Freedom from corporate 'Merka and being told what to do
- 🏆 Freedom from my judgement being CONSTANTLY questioned
- 🏆 The ability to pursue stuff I actually like helping people with
- 🏆 A fairly "low consumption" lifestyle (no Joneses upkeep here)
- 🏆 Wealth reserves and income that aid in optimized sleep patterns
- 🏆 A consistent rebalancing and building of all of the above
- 🏆 This list could actually be endless...
Are you curious about FI and what it ACTUALLY looks like?
- 👉 Tuesday, I'm holding a 100% free workshop to show you how achieve it...
- 👉 I'll outline the EXACT process I used to pay off $174k debt in 2.5 yrs...
- 👉 And then move on to "Lean FI" in under 10yrs...
- 👉 Which then allowed my solopreneur dream...
- 👉 Into becoming a practical reality...
- 👉 All by using this process...
FREE Workshop This Tuesday: www.bradlong.co/opto
That's all for now... Hope to see you Tuesday!
Brad