What is the best route (or tips) for a 25-year-old to become financially independent?

[sharonpedrosa]

Here’s the slow, unsexy way that I did this:

I didn’t start until I was 35.

• Get a job with a decent income.
• Reduce expenses as much as possible.
• Set up an investing account that puts money in a S&P 500 index fund. Vanguard is the most popular.
• Set your paycheck up to automatically put a portion into the index fund. Automatic contribution is key.
• Increase your income with promotions or taking a new job with a different company.
• Invest more and be patient until you are rich.
• This is the slow-ish but steady way.

 

[Good-Person]

I am a 29 year old person. I have figured out that the only way to make residual income is by starting your own business. Starting your own risk-free business could be a great way to make money or you may become a trader.

 

[Ub40]

I want to commend you for stating out the points above on how to become financially free from the age stated above. To me, one can become financially free if he or she can start a business or investment while maintaining a good saving habit. That is just my opinion though.

 

[Syldan]

I think, of the first to be considered is your willingness to br financially independent. Some never for once tried to be independent of their own because they are very lazy. There failure to engage in works that may earned them income in the future is their problem.

 

[eLdavis]

I would also advise such person within that age range to get some skills. I don't know about other countries, but here in my country it's Abit difficult to secure a job. While trying to get one, it would be best you learn some skills and startup something for yourself. You can also go into some investments as well.

 

[Good-Person]

I think, of the first to be considered is your willingness to br financially independent. Some never for once tried to be independent of their own because they are very lazy. There failure to engage in works that may earned them income in the future is their problem.

I think willingness is definitely very important because without willingness, a person might become lazy and he or she might lose the desire to make more money. The best way to remain motivated is to focus on the rewards. What do you think?

 

[Bookwormlux1]

As a 25 year old, you have to make sure that you acquire some profitable skills first. Then try as much as possible to practice what you learned while questioning your mentors about what is really working.

 

[ganibade]

The best tips for 25 years old to become financially independent. Firstly he must undergo at least basic education of secondary school,to be able to read and write. He must learn good job or go to university to learn a course to be able to specialise in future. After this basics tips he must be able to be financially independent.

 

[Kane]

A 25 years old can be financially independent only when you earns well through multiple income sources and he also has passive income sources. If the guy has professional level skills or is extremely talented, he can actually make a lot of money

 

[Oluwatobitomisin]

Sincerely she has said some of the things I have in mind to say, I will just add that after you might have worked with the company, or even during the time you are working you can set up your own company and once you feel you ought to face your business, then you do

 

[Laurentta]

For one to become financially independent, one have to start up a good business of their own but if one doesn't have enough capital to do so, one can ger a decent job and save toward achieving that.

 

[Blessedsam60]

Thanks for your time to analyze how young people can thrive without loosing focus. It's very nice to see young people making it good in investment, jobs and other works.

 

[Kvngsammy]

I think here's mine and the path I've been following
1. Get stable decent income
2. Always ensure that I take out of that to my savings account
3. Improve my streams of income
4. Grow my investment portfolio
5. Start up a pension fund
6. Get a passive income stream.

 

[Bookwormlux1]

I think here's mine and the path I've been following
1. Get stable decent income
2. Always ensure that I take out of that to my savings account
3. Improve my streams of income
4. Grow my investment portfolio
5. Start up a pension fund
6. Get a passive income stream.

But do you think it is easy to be able to set up a stable income stream online alone, or one would have to combine with some offline businesses too before being able to make it ??

 

[Abigael]

I am turning 25 this year and it is my greatest wish that I start working on my financial independence. However, my family needs me now since I am taking care of my sick mum. I hope she gets better so that I can be free to look for a job and start working on my financial independence.

 

[Kaffyfolla]

While there is no set definition for financial independence, the term often means getting to a point where you don't have to work to pay your living expenses. Usually, financial independence is achieved by relying on savings, investments, and other forms of passive income to pay the

 

[Sotherefore]

It's not really easy but you only have to focus on what you believe you can be able to do, that is just the only way

When you are really interested to learn and understand every area of your concentration perfectly then the possibility of succeeding will be higher.. education is also very important.

 

[Ononivami1]

To become financially independent, you will have to acquire experiences from the more successful people in the same industry. Above all, you should not be too greedy when investing and always adopt the proper risk management strategy.

 

[Bousine123]

Here’s the slow, unsexy way that I did this:

I didn’t start until I was 35.

• Get a job with a decent income.
• Reduce expenses as much as possible.
• Set up an investing account that puts money in a S&P 500 index fund. Vanguard is the most popular.
• Set your paycheck up to automatically put a portion into the index fund. Automatic contribution is key.
• Increase your income with promotions or taking a new job with a different company.
• Invest more and be patient until you are rich.
• This is the slow-ish but steady way.

I think the most important thing is to get a well paying job, after that you can save or invest from it , a well paying job can settle all your bills it could be online or offline.

 

[Grandeur]

Here’s the slow, unsexy way that I did this:

I didn’t start until I was 35.

• Get a job with a decent income.
• Reduce expenses as much as possible.
• Set up an investing account that puts money in a S&P 500 index fund. Vanguard is the most popular.
• Set your paycheck up to automatically put a portion into the index fund. Automatic contribution is key.
• Increase your income with promotions or taking a new job with a different company.
• Invest more and be patient until you are rich.
• This is the slow-ish but steady way.

Many of the portfolio that I have read about the rich didn't state that they saved up to invest to become rich, I am not saying saving is bad but is there no other way than saving?