How can someone achieve financial independence and retire early

There are so many ways to go about it and retire early by achieving financial independence. One way that had work for many people is to just do 3 to 4 things.

This is not legal advice, do your own research. This is just my opinion.

Get a high paying job

By getting a high paying job you will have the income to invest. You ought have side businesses that generate you more income.

The point is that you need multiple sources of income.

You ought to increase your skills set, so your ability to generate income increases. So, that your value increase.

Invest in an index fund

With the extra income that is coming your way by your high paying job or multiple sources of income. You take that extra money and invest it into a diversify portfolio such as a total market index fund.

This has to be done automatically. You can set it up so this happens every month. Such as a portion of the extra income go to a total market index fund every month without you having to do anything because it’s automated.

It’s like set it up and forget it. But you won’t forget it of course because you ought to manage your money. But for the most part, once it’s set up, it’s kind of passive.

Increase the amount that you are investing

As time passes, the investment generate income or growth in value. So you take that same income or growth and reinvested.

Also as time passes, you will be generating more income since your value should be going up. You take that extra income and increase the amount that you are investing. So, you can get to financial freedom faster.

The magic of compound

As time passes you will notice the magic of compound. You will notice that your balance, that your assets just keep increasing.

How long does it take to achieve Financial independence and retire early

In the era of the internet, achieving financial freedom could take you 5 to 10 years. There are way more people that have taken them 15-30 years or more.

But nowadays we have internet, and we can find and share with each information that before was not possible.

Most importantly, you can reach the masses from the comfort of your home.

Here is an idea

You can create a YouTube channel or a blog or a podcast and just document your progress toward financial freedom, nothing fancy.

By sharing your progress, this eventually will start attracting people to the planform that you choose. In turn creating an audience.

They will keep coming because you are not only helping yourself by documenting your progress but you also helping other people by sharing your progress.

Since now you have audience, you can monetize your blog, or your YouTube channel or your podcast. This will generate you income. There are many ways that you can monetize your platform.

Notice, since you are actually doing the actual work, As time passes you gaining skills and knowledge that can’t be replace.

You might ask yourself why would any body read your blog? or watch your YouTube channel? or listen to your podcast?

The answer is simple.

Think of something that enjoy to read, to watch or to listen but that you don’t make any money out of it. You just do it for entertainment or to pass the time or for boredom.

Such as watching tv or Netflix, or listing to the radio or reading fun stuff online, or watching YouTube videos, etc.

Guess what? Someone else probably has monetize that thing that you enjoy reading, or watching, or listening. At no extra cost to you, someone else most likely is making money.

Whether is beneficial or not, people are still going to read, watch and listen to things. Therefore, might as well be your things.

Why your things?

By documenting your progress and sharing it with the masses at least you are doing something that can help someone else.

Final thoughts

To achieve financial independence, you ought to get a high paying job or have multiple sources of income, invest in some type of index fund, increase the amount that you are investing and let the magic of compound interest do it’s thing.

That’s it.

Take a calculated risk.

Now, start and adjust as you go.