FINANCIAL INDEPENDENCE
                     Finominal Education
FINANCIAL 
INDEPENDENCE 
The 15th of august reminds us, that 
independence is worth fighting for. 
On 15TH of august, we celebrate our 
nation’s declaration of freedom from 
control and influence. Financial 
independence means freedom. the 
FINANCIAL political independence we celebrate 
every 15th of august; it starts with a 
INDEPENDENCE declaration. Here's how to fight for, 
win and declare your own financial 
Independence Day. 
What Does Financial Independence 
Mean? 
The definition of financial independence is having enough 
wealth to live a life of comfort without the need to work. In 
reality, financial independence can mean different things to 
different people. Some people do not have any desire to 
ever quit working. They want money to be comfortable and 
the ability to cover an emergency situation without going 
into debt. For other people, it means freedom from worry 
when they retire, including the freedom to travel; relax, and 
enjoy the “fruits of their labor; spend time with family 
members.” Others can see it as being able to support 
themselves and be there for those who need them without 
worrying about being able to afford to help—or having 
enough to support. Your definition could differentiate many 
of these goals.
Whatever it means to you, if you win the lottery or buy a house, it will only 
happen if you are willing to go after it. The Aryabhata knew India's 
independence would not be achieved without a fight. And they knew that 
the fight would not be successful without a strategic plan. So for him, it is 
also financial independence. The topic we're discussing will help you build 
your own way to financial independence. But it's important to understand 
that strategy and prudence can only go so far. Health, personal 
circumstances, family responsibilities, and social privilege—or the lack of it
—play a large role in how free an individual is to build wealth and achieve 
financial independence. This plan is given in that spirit. The independence 
and freedom declared on 15th august and won in the Revolutionary War are 
important to celebrate. But Indians must also recognize that it left out the 
majority of the new nation's inhabitants; our nation is still fighting to feel 
and be fully free and equal.
Financial Independence 
Strategic Plan 
There is no definition of financial independence, there is also no one 
strategy that will help you to gain it. They say, all strategic plans have 
some common features. You will need to set financial objectives, choose 
the assets and financial and otherwise—you need to achieve your goals, 
decide upon the investment strategies and other tactics you will employ 
to persevere to keep fighting for financial independence until it is in 
hand. 
Financial Objectives 
Financial objectives are unique to all of us. Thinking about 
our long-term goals. Do you want total financial 
independence, freedom from working for a living, and the 
ability to do as you want? Or are your objectives more 
modern? Are you OK with an independent lifestyle with 
some need to supplement your passive income? 
Everyone's age and financial situation will influence our 
choice of objectives. If we are in our 20s or 30s, we have 
decades to achieve our goals along with the ability to take 
more risks. At that age, we may even want to pursue 
what’s known as the FIRE (Financial Independence, Retire 
Early) strategy, which involves an extra savings and 
investment strategy designed to allow us to retire far 
earlier than normal. Or, as the TD Ameritrade survey 
indicated, our goal may be to be able to pay your bills and 
avoid debt. 
 Older than, between 50 and 65, we likely 
already have retirement savings objectives 
but even if not, there is time to plan for 
financial independence. Depending on our 
goals and accumulated assets, this may 
involve a riskier investment strategy to 
compensate for lost time. Or we may need 
to reset what defines retirement comfort.
Whatever our objectives, write them down. 
Keep them in front of you as constant 
reminders of where you want to end it—
living a luxurious life, as you want it, of 
financial independence.
Assets 
Which of some tools (weapons) will you need to achieve 
your objectives? These can generate income-producing 
assets of many kinds ranging from CDs to a portfolio of 
dividend-paying stocks or a savings account, bonds (or 
bond funds), and real estate. 
Buying a house is many people's largest asset—and may 
turn into a source of equity or be used in a reverse to help 
fund retirement. And that is not the only correct way to 
invest in real estate. Rental properties can also generate 
significant amounts of cash flow but also require 
substantial investment and risk. REITs are another way to 
invest. The COVID-19 pandemic showed us how real estate 
can drop and grow in value over a short period of time. 
Over a long time, however, real estate has shown itself to 
be a consistent wealth.
Other wealth-building assets would be to start 
and run a good business with the ultimate 
goal of either not being directly involved in 
day-to-day management or selling the 
business for a substantial profit.
Assets also include knowledge and skill. You 
were not born knowing about rental 
properties, the stock market, or how to run a 
small business. You were born with the ability 
to read, experiment, learn, research, and with 
different strategies to see what works.
About 
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