What Is Financial Independence and the 5 Stages of FI

This blog is about financial independence in Europe. What is financial independence and what does it mean to be on this path? In this post I will explore the basic concepts of FI.

Financial Independence

The words may sound not so familiar. Or they may sound a bit fuzzy. I understand that. Financial independence, it can be a bit vague, or even like spam, too good to be true. I will try to make it easy for you.

Financial independence is not about getting the richest person in the world. Yes, I write a lot about finance, but the journey to FI is not just racing to an enormous bank balance. It’s much more about being able to do what you want, whenever you want, in the way you want to do it.

Because let’s face it. Are you happy in your current job? Are you commuting to work every morning with a smile on your face? Do you sometimes forget to go home, because you are 110% in the zone with what you do? If the answer to any of these questions is no, then you are probably not doing what you truly love.

Reasons to Become Financially Independent

There are a lot of very valid reasons for wanting to reach FI. These reasons all revolve around freedom and security. Freedom to do whatever you want such as traveling, and security to survive job loss, healthcare issues, economic downturns and more.

Read the rest of the post on firetheboss.eu

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