Financial Independence (FI) is the status of having enough passive income to pay for all your
living expenses for the rest of your life, without depending on any paying job or work.

Passive income is generated by your assets such as a rental property, a business you own, or
an investment portfolio, without the need for you to trade your time and effort for money.

“FI is not about retiring early or retiring at all really. It’s all about having the
freedom and flexibility to design your life in alignment with your values. You can
work on things important to you. You can work at your own pace. Or you can
choose not to work at all. FI gives you the power to decide. It allows you to use
your money as a tool to live a rich life, freeing yourself from the need to go to
a job.”
― Chris Mamula, Choose FI: Your Blueprint to Financial Independence

The 3 building blocks of Financial Independence are:

  • Spend less
  • Earn more
  • Invest the difference