Become Financially Independent as Soon As Possible

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become financially independent as soon as possible

To be free, to live independently.

Determine what you want and do independently of others.

Unbound and autonomous.

No more having to work for a boss.

No more worries about money.

Better today than tomorrow right? Quick!

But how do you get there as quickly as possible ?

In this article:

What is financially independent (meaning)?

You are financially independent when you can pay all your expenses with income for which you do not have to work . So you can provide for yourself and pay all bills with the return on your capital. We also call this a passive income.

Result: you no longer have to work. Not for a boss, but also not as an entrepreneur. You are no longer dependent on others and can in fact do whatever you want . Sleeping in, moving to another country, to the beach when the rest of the country is in the office and so on.

That sounds great, of course, but is it possible? Yes, but you have to do something for that. Because to make a return, you must first have capital . And in order to accumulate capital, you will have to provide labor and make smart financial choices.

The fastest way to get it

As you can see from the definition of being financially independent, the knife cuts both ways . On the one hand, you will be more independent if you have fewer bills to pay, on the other hand, you will be faster if you can quickly create a passive way of income.

We've reduced it for you to 4 simple steps you can take, and you can start right away. Now you shouldn't think that you will soon be totally independent, but with each step you will become a little bit more. And those steps are getting bigger every time! So keep that in mind: it may be a little slow at first, but the pace will pick up on its own.

The trick is to invest in a passive source of income with little money. And all the returns you make can be used as a new investment the following month. And the moon on it something extra and so on. And so the amount you can invest each time increases and your assets will increase exponentially .

1. Calculate your goal in US dollars

Think about the life you want to be able to lead if you are financially independent. How much money do you need for that every month? On the other hand, we can certainly tell you that there are ways of investing where you can make up to 4-12% or even 19% returns (we will come back to this later). If you know that, you can also calculate how much money you will ultimately need as an investment.

Example: if you think you need 2000 US dollars net every month to make ends meet, you will have to invest 2000 x 12/8% return = a total of 300,000 US dollars. Sounds gigantic, but that is really not impossible.

2. Do more with less money

In other words: save on your expenses. Doesn't sound sexy or exciting at all, we know, but an important first step in the right direction. It is a shame because the money that you still have to toil so hard for now as an employee or as a self-employed person disappears at nonsensical, unnecessary or even hidden costs.

We have a total of over 10,000 US dollars in annual savings tips for you. No you really don't have to go through all our blogs about this. Just read the article to save money drastically , or take our money-saving test . Everything will be reflected in that.

Now you shouldn't want to cut back your whole life. Because then you can enjoy it no longer, and it is difficult to stay motivated. Do you find it important to be able to eat out every now and then, or to go to the cinema with your friend? Just do it! Our tips are therefore mainly about saving smartly without having to leave anything. Such as smartly comparing prices and switching.

In any case, try to save as much as possible with the money that you have left over, so that you can use it for your investments in step 3. Keep a buffer as well. An amount for unforeseen costs. For example, you do not want your car to break down and you cannot buy a new one because you have all your money in an investment that you cannot immediately access.

Of course you put that buffer in a savings account with the highest possible interest, in order to make some return. You can compare interest rates with us and immediately open a good account.

3. Raising more money

You now have money left over every month, time to boost that extra by earning extra money. Not to be behind the bar with a paper route or as a second job at the weekend. No just earn money through the internet . Why just? Now this is really extremely simple and few people know that, such a shame!

We give you 6 reliable, proven and fun ways in which you can do this without any knowledge or investment. And it doesn't even have to take time. In fact, some ways like taking paid surveys for money or internet savings programs don't even require you to think twice… and they'll just get you a hundred (and) US dollars every month.

With affiliate marketing or making money with a website you can bring in even more and this is in itself semi-passive . It is not without reason that people have come so far with this that they have been able to turn it into their business or even become rich.

4. Earning money without working

You may still be familiar with advertising: in your twenties you don't think about investing, as a thirties you don't have time for it, and as a forties you wish you had already started investing in your twenties. Whether it is investing or investing, it is wise to start early because you make real profit in the long term: it does not hurt if you only have a little investment because all the profit has been included.

If you want to generate income without having to work for it, this will have to come from returns. Not the interest on your savings account, which is far too low for that, even the highest deposit interest in Europe is not enough to allow you to retire from those below the inflation level. In summary, in a savings account your money is in fact worth less!

Fortunately, there are plenty of safe alternatives to saving . Which yield more returns. It is therefore important to invest in this so that you create a flow of income and let your money work for you, as it were:

Investing in real estate is possible from 50 US dollars. No you do not have to buy an entire property to be able to rent it out, there are handy investment platforms for this where you get a return of 12-14% . The advantage here is that you have the relevant property as collateral. So if the person to whom you lend the money for the purchase of the building can no longer meet the repayment including return, it can always be sold and you therefore have no risk that you will lose all your money.

Investing in consumer credit (private loans) is even possible from 1 US dollar and yields an even higher profit, namely 12-19% . Here you lend money to people, for example for a bridging loan or the purchase of a car. Here too there are special platforms that also give you guarantees when a person turns out to be a defaulter. That way you are protected.

Investing on the stock exchange or in crypto coins has no fixed returns, but mainly many forms and instruments. The winnings can be much higher if you know what you are doing and put in at the right time. We only want to report that you should always invest through a good party . For investing on the stock exchange (shares, funds, etc.), choose the best investment platform , that is Binck Bank . And if you go for crypto currency, Litebit is the best crypto broker in the Netherlands .

If you are really adventurous, you can also invest in CFD trading . Here you can profit from price rises up to 30 times as much with leverage. So if you do this with 100 US dollars you make the profit as if you had invested 3000. But you lose just as hard… so be warned.

What can also be smart is to invest in your own home. By paying off your mortgage you reduce your monthly costs. It can be even more beneficial to transfer your mortgage to a lower interest rate. Request a free financial consultation about this via hypotheekoversluiten.com , because these are complex matters.

Finally, you can also make a good return on solar panels and insulation. You earn that back in no time, you increase the value of your home and you lower your energy bill. Request some quotes for free and without obligation: