7 Steps to Financial Independence To Follow

1. Set your goals:

When you have set your goals, set a time for when you want to achieve them, such as children's education for 20-25 years, buying a house, etc.

2. Negative Net Worth:

Is the sum of your assets minus the sum of your liabilities (debts). The more are outstanding, there is a negative net worth.

3. Financial Solvency:

Try the loan snowball method to knock out each loan one by one

4. Financial Stability:

Once you pay off all your unsecured debts, you reach financial stability.

5. Halfway point:

It took you ten years to reach half the FI, so it probably will only take you five years to build the other half of your goal.

6. Financial Security:

 When you can cover your basic living needs with passive income from investment

7. Financial Independence:

When you can cover all your living expenses with passive income from investments

As long as you're doing a job you don't love, you're running into a rat race.

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