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Financial Independence (aka Freedom)

This section is about Financial Independence or otherwise known as Financial Freedom. The process of building your financial inpendence is complicated and overwhelming. Advice abounds and often conflicts. Here we will talk about the basics and how to demystify the issue.

This is NOT a financial planning guide; rather we cite information, statistics, and resources that lead you in the right direction.

Two generations ago, financial freedom meant working for a large organization with a defined benefits program (pension) and healthcare for life upon a long period of successful service. Those days are gone. Today it is all up to you. If you are thinking of taking a government role, be cautioned that those pension programs are underfunded and the benefits are diminishing year by year.

My advice: START. The biggest mistake is waiting until you have 'enough' money to invest.  

You must:

1.  Gain awareness and become a life-long learner in the area of retirement and financial planning 

2.  Start

3.  Live within your means

4.  Know how much you will need to set aside and where your retirement funds will come from

If you begin now, in your early 20's, you will live well and live large. If you delay as much as the Baby Boomers did (the previous generation where many did not plan for retirement) the mountain you will climb into you senior years will be the most staggering in history.

Additional Content

Don't Have Any Money to Invest for Your Future?
Here David Bach shows how making small changes in spending over time can have a major impact.  This is an eye opening exercise that reveals everyone can have a major future impact, and can start right now.

David Bach, FinishRich.com.  
Great, down to earth financial advise. His site offers a free download of his best selling book, Start Over Finish Rich. 


A Great Read if You Are Carrying Too Much Debt
If you have too much debt and must turn your finances around OR if you want to avoid making that mistake, I highly recommend Ramsey's, The Total Money Makeover




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