Financial independence is defined as a state in which an individual or a household has sufficient wealth to live on, without having to depend on income from some forms of employment. In other words, financially independent people are those who are able to meet their needs and expenses from sources other than their primary occupation. Financial Independence doesn’t just happen, but starts with a detailed plan and a willingness to commit to that plan. Financial Independence is what everyone wants, but very few people ever achieved it. There are probably many ways to achieve financial independence, but if you want to achieve it legally, and without the fears of EFCC, ICPC and SARS breathing down your neck, your options are limited. To achieve financial independence, you need to achieve a mastery of at least two or all of three income types: They are: A. Earned Income B. Portfolio Income C. Passive Income. In this article, we shall focus on 7 Steps derived from the
FINANCE | BUSINESS | MANAGEMENT