FinanceWASP

This article is part of a 30-day series called the 30 Steps Program to Financial Independence. I’m a big fan of setting goals because they keep me motivated and moving forward. Sometimes I don’t reach my goals, but I’ll get back up, try again, or set a new one. When …

**FIND YOUR PASSION** Pursuing financial independence can be tough, especially when you’re stuck at a desk for 50 hours a week, daydreaming about what life could be like and worrying about how old you’ll be when you finally get to retire and enjoy it. I remember how unbearable my last …

I know most personal finance experts say you should have an emergency fund, but I’ve never really worried about it for a few reasons. First, I’ve always been pretty good with my finances. I’ve saved a lot, so on any given month, if something came up, I could just stop …

In August, I’ll be kicking off a new series that I hope you’ll enjoy. Over 30 days, I’ll break down different ways to achieve financial independence, one method each day. We’ll cover the basics, such as how to save money and start a fund for your future financially independent life, …

I thought I’d jump straight to the point of this blog: reaching financial independence. But what does that really mean? Financial independence is when you no longer need to work because you’ve generated enough passive income to support your lifestyle. Wait, what? Yes, it means you have enough money coming …

Yesterday marked the series finale of “Damages,” a show I’ve been following and really enjoyed for its well-crafted, fast-paced, and thrilling plots. The story revolves around a young woman fresh out of college who lands a job at a prestigious law firm, trying to survive under her tough boss, brilliantly …

I’ve always had this idea of being financially independent since I started working and realized that a typical 9 to 5 job wasn’t for me. When I considered ways to create passive income, real estate always came to mind. Back when the economy was stable, with no crises or bubbles, …

### Step 1: Start Saving To achieve financial independence, you need to have a substantial amount of money saved up. While some people may choose to avoid using money altogether, most of us will need a significant fund to live comfortably without working. We’ll discuss just how much you need …

Yesterday, we talked about increasing your income as a step towards financial independence. While asking for a raise at work can help, it’s essential to remember the calculations we discussed on day 3. To generate $1,000 a month until age 95, you’d need $750,000 in savings. Alternatively, renting out a …

According to Airbnb, the average earnings for people renting out rooms in New York City is around $21,000 a year. That’s a significant amount of extra income for about 10,000 hosts! Imagine what you could do with an additional $21,000 each year. It sounds great, right? But what would you …