The Freedom of Financial Independence and How to Reach it!

To explain it in summary: Financial independence is the freedom of not depending on income. You’ve saved up more than enough money, so the struggle of everyday expenses doesn’t worry you anymore. Financial independence could mean being able to retire, but that’s not necessarily the case. Instead, financial independence allows you to live off the comfort of your savings for a long time, giving you the freedom to explore other options.

For many people, this sounds like a utopia. Just have a look at this scary statistic based on the US:

The US is one of the wealthiest countries in the world, with a booming economy and plenty of jobs; how is it possible, though, that the majority of people live paycheck by paycheck? Sure, you could argue that the cost of living is significantly higher in the US compared to, for example, countries in Southeast Asia. But the average salary in the United States is $56,310, with a median wage of $20.17 an hour, which is significantly higher than, for example, in Thailand (the average annual salary in Thailand is 1,160,000 THB (Thai Baht) or 34,782 US Dollars).

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