How You Can Achieve Financial Independence

How You Can Achieve Financial Independence

The American dream of owning a home with a white picket fence and retiring early to do all the traveling you have always wanted seems far too impossible. Or is it? The reality is that most individuals are faced with financial burdens that leave them at a crossroads between wanting a paycheck versus owning assets that give you independence. There are small ways you can do to start achieving your financial goals and it begins now because essentially time is money! 

Save for future expenses 

The idea of saving may seem cliche, but it is key to achieving financial independence. As a rule of thumb, it is ideal to save four percent of your income. This does not include emergency funds so be sure to separate your accounts accordingly. By doing this, you will begin investing in your future for what will be the next decade and beyond. 

Take note of your net worth 

Your net worth will have a lot of say towards how fast you can achieve financial independence. Meaning, your assets and liabilities will give you a better insight and overview of not only your net worth, but also how much you could be earning or budgeting. 

Always invest while on the job 

Securing a job that provides income and benefits while investing your money such as in a 401K plan is always a plus. It allows you to maximize your tax advantages. You can also opt to invest on your own with a Roth IRA if your employer does not offer such benefits. Some choose to invest in stock markets which can also increase your return if done correctly. 

Make smart money habits 

Individuals who want to achieve financial independence should know that making investments also comes with making smart money habits. David Ramsey, a well known financial advisor, is known to give some of the best financial advice. And although the subject of being frugal becomes debateable, you should be aware of where your money goes. By eliminating buying luxury items and living within a means you can afford, you can begin mastering and taking control of your savings. Not to mention start paying off that debt once and for all. 

Feeling the stress of achieving financial goals on your own? A financial planner will work with you every step of the way and gear your interests in the right direction. Receive the financial independence you have always wanted with the help of their expertise today. 

Care Financial is a privately owned and operated business providing families, individuals and businesses with comprehensive wealth management strategies. Contact us online at or call us at 251-633-7122.