What is the surest path to financial independence?

 There are only 3 aspects you need to focus on.

1. Income
2. Dependents
3. Investing

Let's tackle all these three one by one.

Income:

Your income can be from a job, or your own business, or from your assets that are generating income, this income should be able to take care of the shelter, food, and clothing.

Obviously, you should spend less than your income, and the rest need to be invested into assets.

Dependents:

At least In India, We end up taking on the financial responsibility of family finance and sibling financial needs, and even housewife.

Some people are lucky, some parents don't depend on their kids, some people marry a working partner (I think it's a smart move). You will need to find ways to solve this dependent problem (If you have dependents).

It will be hard, but If I can do it, then you can also do it.

Investing:

Obviously, your income can stop due to multiple reasons, you could lose your job, your business can fail or your investments can underperform for a couple of years.

You need back up and that is nothing but more investments.

Until your income is flowing, your investments need to happen side by side, the more you invest, the more you are financially independent you become.

My investment generates almost 2K per day (Somedays even more), But my spending might be at 500 per day, rest 1,500 is always re-invested. Eventually, it will grow into a huge pile of cash and ensuring more financial freedom.

One More: Your Attitude

Your attitude towards money, towards your financial freedom is a very critical part, You can let money and society control you or you can take control of your money and your lifestyle - It's your choice.

As for me…

I live in a small home (Not Villa),

I don't have a SuperBike 

I don't have a luxury car (I do have a nice car)

I eat and drink well at home (Maybe once or twice a month I eat out)

I keep my expense in check and invest most of the money.

I work where I want and I don't really care about getting big offices.

So basically, I am Financially Independent for Many Years to come :)

I hope this helps!

 

Disclaimer:

The views are for personal use and for educational propose only. Ritesh Sheth & Family or Tejas Consultancy does not guarantee the accuracy, adequacy or completeness of any information in this emailer and is not responsible for any errors or omissions or for results obtained from the use of such information.

This BLOG is addressed to and intended for the investors of Ritesh Sheth & Tejas Consultancy only. You are advised to contact Ritesh Sheth & Tejas Consultancy to clarify any issue that you may have with regards to any information contained in this blog. Ritesh Sheth & Family or Tejas Consultancy does not have any liability to any person on account of the use of information provided herein and the said information is provided on a best effort basis. In case of investments in any of our schemes, please read the offer documents carefully before investing.