On July 4, 1776, the Declaration of Independence was signed separating the thirteen American colonies as a new nation. The dawn of the United States of America!
Since then Independence Day is commonly celebrated with fireworks, parades, and parties. While a group of states celebrate with a bang, finding your personal financial independence can be even more exciting.
Although… what is financial independence?
Is financial independence freedom from …
- Your boss?
- Your parents?
It could be any or all of these.
The definition of Independent is:
- Free from outside control
- Not depending on another for livelihood
When you are debt free, you are free from outside control. When you are work free, you are free from your boss. When you are boss free, you are free from depending on another. When you are living on your own, you are depending on yourself.
The next time you choose to save instead of spend… Remember that you are buying independence. You are buying independence from debtors, your boss, your parents, whatever is hanging over your head.
Financial independence might not be celebrated with fireworks, parades, or parties. Instead, it can be celebrated with more fulfilling work or leisure time. It is your party.
When will be your Independence Day?
Do you want to understand how to make your money work for you and keep more of what you have earned?
Disclaimer: This article is provided for general information and illustration purposes only. Nothing contained in the material constitutes tax advice, a recommendation for purchase or sale of any security, or investment advisory services. I encourage you to consult a financial planner, accountant, and/or legal counsel for advice specific to your situation. Reproduction of this material is prohibited without written permission from Nate Byers a Madison, WI CPA Financial Advisor, and all rights are reserved. Read the full Disclaimer in the footer below.