7 Benefits of Financial Independence

Hello everyone, welcome back to my YouTube channel. This video discusses 7 benefits of achieving financial independence which includes the ability to retire early.

Hello and welcome to my tips to financial independence channel i’m happy to have you here please remember to like share and subscribe today i’m going to discuss with you the benefits of achieving financial independence but before that let’s define financial independence financial independence can be defined as a state in which you have enough wealth to live

Uncomfortably without having to work or be assisted by others financially in many cases you will have investments that generate enough income for you to live on benefit number one you will have a sense of safety you will feel safe in the sense that if you lose your job you won’t have to scrape back you will not have to worry about how to handle financial emergencies

Because you have an adequate amount of money to weather the financial stones number two more time to spend with loved ones we live in a side gig economy a lot of people are holding full-time jobs plus other jobs on the side all these working can take important time away from your loved ones you may want to spend more time with your children but the hustling does

Not allow time for that being financially independent will allow you to pick jobs that give you more time with your family and those close to you number three more time to travel if you like traveling you will have more time to travel and see the world because you’re not obligated to work also you will have the money to make the traveling possible number four you

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Can retire early once you achieve financial independence before age 65 you can choose to retire early and use your free time as you wish this in itself is a great achievement considering an average american household only has 65 000 dollars in for retirement an amount that’s too little to retire on number five you can pursue a career you’re more passionate about

Some people are in careers they don’t like because the jobs paid their bills and are helping them achieve financial independence these people have a career path they would have wanted to pursue but did not because of financial constraints christie shen the author of quit like a millionaire retired young after achieving financial independence to pursue a career in

Writing which had been her passion for a long time number six more time to volunteer have you ever wanted to volunteer doing something in the community but couldn’t because you had to go to work and your finances wouldn’t allow achieving financial independence and retiring early will leave you with lots of time to volunteer in areas you care about number seven

You can negotiate higher salary have you ever accepted a salary that’s lower than you feel you’re worth because you didn’t want to lose the opportunity when you’re financially independent and not having a job won’t affect you financially you’re more likely to negotiate for a better salary without the fear of missing the opportunity some people have reported being

Able to negotiate better working conditions because they were ready to quit the job if the conditions stayed the same clearly being financially independent is like a ticket to freedom i hope you enjoyed this video please remember to like share and subscribe

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Transcribed from video
7 Benefits of Financial Independence By Tips to Financial Independence