It results from other works made earlier or investments made out of fixed and floating assets to give a lifetime passive income source through various modes. When a person's passive income is more than living expenses, it is considered to have attained the financial freedom status. In this ever-changing and fluctuating world, nothing is stagnant. To reach that state or maintain the position of financial independence, a few things are of immense importance. This is the first step towards making oneself achieve financial independence. At the time, because I still had lots of unresolved issues to sort out, I was unaware of how much of my personal worth I had placed into the hands of another flawed human being. The first few months of our relationship felt like a dream. I became so preoccupied with thoughts about Vinny that it was impossible to concentrate on my grades. In school, I would write poems about how deeply I cared for him, and how lucky I felt to have such an amazing boy in my life. I wrote about how lost I felt until he asked me to be his girlfriend, and how I prayed our relationship would never end. I'd run home from school and dash to the phone, eager to hear his voice at the end of a tedious school day. And sadly, more times than I'd like to recall, I blew off plans with my girlfriends just to be with him. Over the years we have really gotten to know our neighbors. We know which ones love to chat and gossip about the local town. We know who is an introvert and doesn't want to talk, but when your truck breaks down in the dead of winter, they'll show up with a jack and jumper cables to help out. As I noted at the top of this article, fear is all around us, and it can rule your life if you let it. But antidotes to this fear are also everywhere, in the form of other people. I'll give the last word on this to Carl Sagan: For small creatures such as we the vastness is bearable only through love. When you started this article, the future was a nebulous void that you were blindly hurtling toward. People who develop this habit and understand its value have far more chances to reach their financial independence goal than those who do not understand the power of having an approach of frugality in life.

It here does not mean to degrade or have a substandard lifestyle or living. It just means that wherever possible, one should try to have a proper check and have a mindset of optimum utilization of funds and resources. This helps increase the person's saving corpus and gives greater financial security and base to the person. When one has fewer expenses, the corpus's proportionate ratio to reach financial independence will be lesser, thus helping the person achieve financial freedom early. It is a well-known saying that A person spending on a thing that is not required will have no money left to buy a thing that will be of need. Know The Power Of Saving, Investments, And Compounding Saving and investments are an essential part of life. Vinny was quiet with his feelings, but usually found ways to let me know he was thinking about me just as much . He would leave tiny love notes in my backpack, or slip them into my coat pockets. He would leave roses on my stoop, and often bought me romantic cards and tiny trinkets. Vinny's attention was like water to my dehydrated soul. Vinny touched me on a level that my new girlfriends never could have. It was a spot that felt very close to where I housed the desire to be loved by my mom and dad. The feelings that burst open in me for Vinny felt as if they were rising forth from my toes. And when he reciprocated with his affection and attention, it was as if I were entering into this atmosphere for the first time, time and time again. A few months into our relationship, Vinny was all my mind could think about. Through the last seven articles, it's hopefully taken shape, or at least it's become a definable entity that you have some control over. In article 8, I'll show you how to bring it all together and get started on your future you. Truth be told, you've been at it throughout the article, you just didn't realize it. I have always found that the best way to prepare for the future is not to plan for it at all, Colonel Marcus Hammerland said bluntly.

We were walking on the grounds of the United States Military Academy in West Point, New York. I had been invited to be that year's speaker at the Castle Lecture. The next day I would address the entire incoming class about how to prepare for the future and what it will mean to be a soldier in the next decade. If a person wants to attain financial freedom, his income has to keep chipping in from multiple sources, all direct and indirect, active and passive. A person who spends money without mindfulness and lacks a saving corpus, impacts his long-term finances in a big way. A person who has a long-term view will have a planned approach to savings and investment. He will have the proper allocation of funds towards different options of savings and investment. The appropriate study and in-depth analysis with a better investment can land far better and multiplicative returns. A person getting two times to three times better return due to research and knowledge will be far ahead in some time than other people who have not reached the right way of generating passive income. There are so many ways and aspects of learning the right way to invest in different options and avenues. The power of compounding is one such life-changing thing that can have an enormous impact on a person's life and income level. One should read and understand how by approaching life with a minimalist approach, one can have a quality life with options to have more funds to invest in instruments that compound and provide excellent sources of passive income for the future. In this way of life, a person prefers to focus on important things rather than things of excess. I struggled with finding balance in my suddenly full and ever-expanding life. I was aware that I was spending less time with Rosey and Karen, and that my schoolwork had taken a sudden back seat. Rosey and Karen were blatantly honest, and let me know they thought I was spending too much time with Vinny. I was beginning to feel overwhelmed, and as if I were losing the very filaments of the self I had just begun to find. When I wasn't thinking about how to please Vinny, I was worrying about how not to upset my friends. I was losing ground quickly, and sinking back into old patterns of thought I had learned as a child. But because the characters in my life were all new and so different, the old patterns took me very much by surprise.

I wanted Vinny and I wanted my friends, and although my attention to my schoolwork had diminished, I wanted high grades, too. I didn't want just to compete in the youth squad games. It was an incredible honor that capped off a few days of meetings, tours, cadet roundtables, and dinners. It was during a short break that Hammerland, my host, asked if I wanted to have a walk around the grounds. Hammerland continued, peering out over the Hudson River. I'm wondering what exactly you're going to say to the cadets--about the future, that is. I myself believe that a plan for the future isn't worth a damn. Hammerland had spent his entire career in uniform. Before becoming a strategic planner and professor at the academy, he was a tanker, a fitting moniker for soldiers stationed in an armored division, where they deal primarily with--you guessed it--tanks. This fact makes two things about the colonel completely understandable. They see what's the value they are getting for each transaction done. They weigh the consequences and benefits of having a particular fund when it can be utilized for different things. They try to have the best utilization of resources and funds they have. This aspect has a vital role in life when one seems to be amongst those who want to attain financial freedom. One needs to draw a line on insignificant things and say no to things that give false satisfaction and status ego. People who are wealthy and financially independent always apply these thoughts before making any unwanted or uncalled expense and investment. Assume a situation where one person gets a large amount in funds; For example, one gets a jazzy car for show off, which will make money depreciate to nil in a span of the next five to seven years, and the same amount, if invested in some calculative real-estate option, can give enormous gains. I didn't want first place overall -- I wanted first place in every game, too. And I didn't want just to sweep first place in the youth division.

I wanted to sweep first place over the adult squads as well. As if breathing life into my lungs for the first time, my desires for more sprung forth ferociously and with vigor. I was still too young to know how destructive my seemingly wonderful life really was. As I look back, heavy sighs make their slow way out of my much older lungs. First off, he's what you might describe as a fireplug--broad, stocky, strong. Though in my mind, calling him a fireplug didn't do justice at all to his physique. It was like he was built specifically to fit inside a cramped tank. No matter what Hammerland was saying, it sounded like a direct order. I had worked with enough tankers to know this was a common trait, the result of less-than-perfect hearing from years inside a small metal box firing off large explosives. Saying the work is very, very loud is a spectacular understatement. Well, sir, I replied, there's a difference between having a vision for your future and having a plan for that future. It's all about what assets you are choosing to invest in. Suppose you are more prone to invest in depreciating assets; One should always be mindful of investments and returns. Till now, whatever we discussed were the measures to invest, which done wisely can give financial standing. Smart and structured investment gains help a person reach their financial independence goal a little early. But there is a limit to what you can save or invest. The real treasure lies in the generation of income. The additional revenue that you can generate other than your primary income. I am amazed by how scarring and elusive love can be.