Financial independence and retiring early is a dream for many, but all too often it may seem like a mirage – something that is too good to be true. However, with the right mindset, planning, and approach, most people can achieve financial independence – earlier than they think.
There are three key things needed:
One of the most important things required to achieve financial independence is having the right mindset. A negative mindset can be a self-fulfilling prophecy. Think of phrases like I’ll never be able to afford that, I’m not good with money, money doesn’t grow on trees, money doesn’t buy you happiness, or I’ll never be able to retire early.
Let’s use two people to illustrate why this is important.
Chris, has a negative mindset about money, whereas Emma has an abundance mindset.
They both buy an investment property with the plan to renovate it and sell it for a profit. They buy two adjacent (and identical) houses and do identical renovations. The market cools. When they put them on the market, they both find out that after all those hours spent painting, coordinating tradies, and landscaping, they haven’t made anything.