Thread by @limitlessmindon

How to become Financially Independent in 5years or less.

Learn. Live. Lead👇

1. Examine Your Finances In Detail.

In order to reach Financial Independent,

you need to spend less that you make.

You'll need to know exactly what

you are earning and what you are spending.

2. Work To Pay Off Debt.

In order to find Financial Freedom in 5 years,

You'll need to get rid of consumer debt.

By paying off debt, you'll reduce your monthly expenses while

freeing up funds to save for Financial Independent.

3. Cut Your Expenses.

Since you're working in an accelerated time frame

to reach Financial Independent,

It's wise to cut certain expenses so you can invest even more money.

4.Increase Your Income.

Saving and investing enough money for Financial Freedom likely

won't happen just from cutting expenses and living a frugal live.

You should consider ways you can increase your income in these 5 years to FI.

Start a Side hustle👇
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5. Invest Strategically.

Financial Independence in 5 years won't be possible unless you invest Strategically.

Focus on finding the best investments to generate powerful passive streams of income over the long run.

Invest in stocks👇

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6. Try saving 80% of your Income.

If you want to reach Financial Independent in 5 years or less,

Your savings rate is going to need to be astronomically high ( up to 80%) .

Five years is a very short amount of time to achieve financial independence.

That said, if your finances are already in a good place,

it’s certainly not impossible or unheard of.

Thanks for reading.

Please follow me @limitlessmindon
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