To Become Financially Independent, Embrace These Five Habits

If you want to get there, focus on these five areas.

Financial independence is a little different from retirement.

When youre retired, yes, youve become financially independent.

Pay off your home in full.

Thats really the foundation, he says.

Find multiple sources of income for retirement.

Develop guerrilla frugality habits.

Chevreau calls this becoming a Frooger.

If you spend like a millionaire, youll end up a pauper, says his books protagonist, Jamie.

Spend like a pauper and you have a shot of becoming a millionaire.

Save 20% of your gross income.

This will be impossible for many people, but not for others.

If you cant save 20%, try for 15 or 10%.

Invest with a Lazy ETF portfolio.

None of these habits or concepts are easy to adapt or achieve.

But financial independence is that simple.

Check out the rest of the post at the link below.

Plan for Financial Independence, Not Retirement| Forbes

Photo byGabbey Road J-Walker.