Advice on Financial Independence From Around the Web
Oh, to be financially independent. The thought of having enough money that you don't need to work sounds great, right? But if you're counting on winning lottery ticket to help you achieve the good life, you might want to reconsider your approach (see 5 Better Investments Than the Lottery). Instead, consider the advice of J.D. Roth, who founded the Get Rich Slowly blog in 2006 when he was deep in debt but managed to achieve financial independence with what he calls a "three-pronged attack." See J.D.'s one-page guide to financial independence to see how he saved enough to support himself without working. And for more advice on increasing your income to gain more independence, here's what some of our favorite personal finance bloggers are saying:
10 Dumb Habits That Are Keeping You From Earning More Money [Wise Bread]
"There are plenty of worlds created by others that we spend time in that rob us of our ability to produce and ultimately increase wealth."
5 Ways to Recession-Proof Your Life [Money Under 30]
"Do you have a plan in the event you lose your job? If not, this is required reading."
5 Investing Basics That Can Make You Rich [Wise Bread]
"So you want to become a better investor, build more wealth, and gain financial freedom? Great! Where do you begin?"
Financial Advice for Modern-Day Cinderellas [Alpha Consumer]
"If we’re teaching women that we need somebody else to rescue us, emotionally or financially, then we’re all headed for disaster."
'Getting Rich' Is a Code Word [The Simple Dollar]
"Don’t let the emotional impact of your dreams (and how 'getting rich' can make them happen) get in the way of making smart decisions."
News Flash: A High Income Can’t Guarantee Financial Freedom [Len Penzo dot Com]
"Those who are unable -- or unwilling -- to spend less than they earn are, by default, incapable of ever being financially free."