Member-only story
Maybe You Will Never Be Financially Independent
And how to deal with that?
There is plenty of information online and offline about how to build wealth and become financially independent. If you want, you can spend hours and hours reading and learning more about it. The steps are there. You just need to follow them.
Well, it’s not that simple. If it were, we all would be putting in the work and getting the results. Some of us do put in the work, but the results never came and never will. For some of us, financial independence is a blurred dream.
I have been on a financial journey, from unemployment and being on benefits, now I have a full-time job, and I am working to build passive income. But I know that unless I win the lottery, I won’t achieve financial independence. And that’s a fact.
Let’s talk numbers. I am 32 years old and let’s suppose I live until I am 90 years old. This gives me 58 more years of life on Earth. Just to make it easier, I would like to have £1,500 to pay for my monthly living expenses and to cover my monthly spending habits. This is more than I have at the moment, as I am living with less than £1,250 per month, or I try my best to. Just to cover the basics, without worrying about savings or including holidays, I would need £1,044,000. (And without thinking about taxes.)
