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

[Lens]

Once a child is above the age 18, he/she could become financially independent provided he has the will and the experience needed. If the child is well trained, I do not see the reasons why he can't become financially independent.

 

[Toyoabasi]

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.

These are good keys, thanks for sharing.
Personally, I started a business at 26 and I have been growing it. That was the best possible way to be financially independent. From the business, I can diversify and earn more.

 

[YERUS]

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.

Most times, it is always difficult discovering what works best for you earlier in life.
It is something to be valued once discovered however.
Young people looking for financial independence can start by taking up skills that can help them earn money either online or offline.

 

[greenie]

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.

 

[Sotherefore]

The best thing to do at this point is just stay focused on what you are passionate about to do, there is no employment in the country and don't really expect to gain anything from the government because the government may not even be thinking of you as you think there are.

 

[kayode10]

My advice for you is that you should know it can be very hard to achieve financial independence if you are still working under a person and earn salary. You have to take full control over your financial life. You should him at having multiple streams of income and reinvest invest your profits.

 

[jay]

The truth of the matter is that there are no easy ways to making money and being financially responsible. You can start a business or invest in projects like real estate or cryptocurrency.

Once a child is above the age 18, he/she could become financially independent provided he has the will and the experience needed. If the child is well trained, I do not see the reasons why he can't become financially independent.

 

[Shaffy]

One thing I always advocate that you mentioned is reducing expenses as much as possible. We tend to spend all we earn and even in cases of increased income, the situation remains the same.

 

[Syldan]

The first step to be financially independent, is to acquire any kind of skills which may help you to generate income for yourself and not be idle. Always utilize the little resources you have generated.

 

[kayode10]

My advice for such a person is to focus on adding value to yourself. You should get yourself engaged with lot of activities that will improve your personal development. You also need to take good care of your health. Without health to achieve wealth.

 

[Lucy ID]

First the important thing is to figure out what you want for yourself first financially, then figure or find out how you can do that, then do things that help you achieve your financial goals

 

[joy101]

It is very good before one can reach to that age you can plan you can become financially independent, you look for good company that can pay good money.

 

[saoussen57651]

What is required is to believe in what you are working or what you are doing and step by step you grow up your business but most of the people are thinking 25 years is too young for financial independence but there is exception every time.

 

[Kunkun]

The decision to be financially stable would be key going forward because without that, there would be setbacks always and like you've right stated too, addition of a skill won't do any harm too

 

[Syldan]

As a child who had makes a decision to be financially independent, there are some ways or strategies to follow in other to achieved his goals. It's good to learn entrepreneurship skills which which will helped you to be independent.

 

[Sincerem]

There are many ways to earn and make money in this age and time, you just need to discover the method that best suits your interests. You can earn online and both offline.

 

[Syldan]

There are ways to which someone can adopt to become financially independent either using the online platforms as host means of income generation or to adopt to the offline system depending on his ability.

 

[tyrim88]

That is a good one,discipline is the rule of the game,and one need to be delibrate in the aspect of what he wants to acheive.getting a guide on how to manage your finance is another key.

 

[Sotherefore]

Financial independence comes when you are capable of helping people solve their problems , then you are likely to succeed in whatever area you have chosen. The most important thing you should look forward is how you can solve people's problems based on your skill.

 

[Syldan]

Financial independence for everyone, comes with alot of sacrifice and determination. For everyone who want to be financially independent, is required to be able to deny himself of some certain pleasures to makes him achieve his dreams.