A Guide to Financial Independence

29.06.2016 • The Economy

From Investor Passport (Argentina)-

Last Wednesday I shared with my Passport Investor readers a conversation I had had with my nephew who is 18 years old. We talk about financial independence and agreed that it is when one can live without working. That is, all the expenses that you need to do to live come from passive income that do not involve applying your time.

It should be the goal of my nephew. And then I recommended three-step plan that could help achieve it. The steps are the following:

  1. Spend less than you earn
  2. Invest the money that you do not use
  3. Reinvest the money that you make from the investment

If you did not see this note, check your email box that you received last Wednesday. There you’ll find an explanation of this plan. But I kept talking to my nephew and told him the plan, and he asked another very good question. “How do I increase my income every year?”

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