​I’ve been into home décor lately and I had to turn to Etsy to find exactly what I wanted. I ended up purchasing digital files of the artwork I wanted printed out! The seller had made a bunch of wall art, digitized, and listed it on Etsy for instant download. There are other popular digital files on Etsy as well such as monthly planners. If you’re into graphic design this could be an amazing passive income idea for you.

financial freedom by 40


According to decades of extensive research by Thomas J. Stanley, Ph.D., author of “The Millionaire Next Door,” the grades one earns in school have no correlation with the economic wealth and success other than in the medical and legal professions. That's not to say education isn't important—it is! More than 90 percent of American millionaires did, in fact, graduate with an undergraduate degree.
If you reached FI by saving up $205,500, where would you invest that to guarantee it would produce $685 per month? I assume that would be in a taxable account since you’d be too young to pull funds from a tax-advantaged account, correct? But how, specifically, would you invest that amount of money to keep it safe and generating enough income to draw 4%?
- Limited discussion until the end of the book (p. 290) about Sequence of Return Risk. This is something few people understand and it is flat out dangerous to lead someone to potentially believe that they can retire decades earlier than "standard/normal retirement age" with significantly less money than they would supposedly otherwise need to accumulate by age 65, immediately starting withdrawing from these funds, and that their money will likely double, triple, or quadruple by the time they're much older. Yes, this is possible IF someone can remain flexible (on taking withdrawals from their assets, on generating income in "retirement"), IF someone has alternate income sources, IF market conditions are generally favorable during at least the first decade of "retirement," etc., but there is a major risk here as well. The author does mention these items and does provide a few cautionary words, but I do not think this was stressed enough for the average reader to truly understand the complete impact/considerations. I feel like most people will think, "oh, awesome, I can retire in my 30s with $1.25M, starting taking withdrawals right away, never run out of money, and my portfolio will be worth multiples of the $1.25M in my later years." More time should be spent discussing sequence of return risk.
MM Note: This is a guest post from 29-year-old Millennial Money reader Todd Kunsman. To learn more about creating financial freedom, check out how to retire in 10 years or less,  fast-tracking financial independence, and my book Financial Freedom: A Proven Path To All The Money You Will Ever Need. Now check out Todd’s 9 steps to financial freedom below.
In the past, large affiliates were the mainstay, as catch-all coupon and media sites gave traffic to hundreds or thousands of advertisers. This is not so much the case anymore. With consumers using long-tail keywords and searching for very specific products and services, influencers can leverage their hyper-focused niche for affiliate marketing success. Influencers may not send advertisers huge amounts of traffic, but the audience they do send is credible, targeted, and has higher conversion rates. 
There is another re-org at work. Rumour has it that I am affected it. If I have to quit because I don’t like my new boss then my pension would be 39K at age 55 w/o any retiree medical coverage. Since my wife was laid off in 2016 with a severance, I am not eligible for a severance because of company policy that they don’t laid off both spouses. Since I am so close, Wifey wants me to work until 55 and I agree. Since life always throws a curve ball, I rather be more financially secure.
Also, how at the age of 24 could I even begin come close to how much money I would need for the rest of my life? As it turned out, I needed a lot less than I thought and that I was completely in control of how much I would need. While you can’t control all of the variables (like inflation and investing returns), you can control most of the variables (how much you spend etc.).
If you want to be financially free, you need to become a different person than you are today and let go of whatever has held you back in the past. It’s a process of growth, improvement and gaining spiritual and emotional strength. In other words, whatever has held you back in the past or kept you less than who you really are will have to vanish. And in return, the powerful, happy, playful, brilliant you will emerge — like a butterfly shedding its cocoon.
My main point was that financial independence isn’t a single point or event. It’s a continuum. Each dollar we save grants us greater financial freedom. There are a variety of major milestones. For instance, achieving positive cash flow (earning more than you spend) brings one type of financial independence. Getting out of debt brings another. And so on.

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For anyone thinking of renting out their place via AirBnB, just check to make sure that it is legal where you live. I live in NYC and AirBnB is illegal here because a short-term rental for under 30 days is only allowed if you are a legal hotel. If caught renting or even advertising your home within the five boroughs of NYC on AirBnB, you could incur heavy fines for running an illegal hotel. Plus, most neighbors in apartment buildings don’t want strangers tramping in and out of their buildings all the time, so there could be trouble from people making complaints. So, check the laws where you live if that’s what you want to do!
You might call it the time-money paradox. Most Americans trade the majority of their available time for a paycheck, and then spend the majority of each paycheck on depreciating material possessions. As the spending snowballs, many individuals desire a larger paycheck, which requires even longer hours and more responsibilities at work, leaving even less time to enjoy the income or possessions. It’s a vicious cycle that often continues in perpetuity until retirement or death.
You can put up banners on your site, to promote your affiliate offers. Most affiliate programs will usually provide their own creatives when you sign up for their offers. All you have to do is insert the banner on a highly trafficked page (your affiliate tracking is usually embedded within the code). Banner ads in the right locations can do a great job of driving sales.  
True, he could do that, but then what would he actually do? Kids are great, but until they get a bit older, they’re boring. Plus, he’s already said that this blog is already his passion project, so why give that up? Finally, this could serve as a last defense against a great depression. If stocks suddenly go in the negative, people are still going to have some free time to look stuff up online. This blog could then be the difference between him having to go back to work or being able to maintain some semblance of his lifestyle and still feed his family.
Wealth may be measured in nominal or real values – that is, in money value as of a given date or adjusted to net out price changes. The assets include those that are tangible (land and capital) and financial (money, bonds, etc.). Measurable wealth typically excludes intangible or nonmarketable assets such as human capital and social capital. In economics, 'wealth' corresponds to the accounting term 'net worth', but is measured differently. Accounting measures net worth in terms of the historical cost of assets while economics measures wealth in terms of current values. But analysis may adapt typical accounting conventions for economic purposes in social accounting (such as in national accounts). An example of the latter is generational accounting of social security systems to include the present value projected future outlays considered to be liabilities.[30] Macroeconomic questions include whether the issuance of government bonds affects investment and consumption through the wealth effect.[31]
True, he could do that, but then what would he actually do? Kids are great, but until they get a bit older, they’re boring. Plus, he’s already said that this blog is already his passion project, so why give that up? Finally, this could serve as a last defense against a great depression. If stocks suddenly go in the negative, people are still going to have some free time to look stuff up online. This blog could then be the difference between him having to go back to work or being able to maintain some semblance of his lifestyle and still feed his family.
“If you want to retire early, you need to have a strong ‘why,’” Hayes said. “Do you want to quit your job so that you can start that business you always talked about with your friends? Do you want to have more than two weeks per year of vacation time? Do you want to spend more time with your loved ones? Whatever your why, let that be the motivating factor to create a plan and stick to it during the tough times. Once you have that why, you want to determine your path.” 

financial freedom my only hope


Hi Jamie, awesome content that is very helpful esp with the resources, links and the rich discussions. Want to start e-commerce and blog for money…selling others products, want to go full on with this, tired of the daily routine crunch working for others. I live in a developing country (PNG) that has high internet costs (work still in progress with getting rates down…) so will see how I go with your posts. Any advise? Don’t have a website yet, have to build one I guess….

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Of course, it’s also important to note that money isn’t the thing that makes you truly rich — it’s the freedom that comes from pursuing whatever brings you joy and provides you will fulfillment that makes you rich. The whole point of financial freedom is that once you become financially free, you have more choices of how to live your life and spend your days.
You can keep your career moving forward by keeping your work skills sharp, and increasing your value to your employer. You should put yourself in the running for promotions where possible, and hold yourself open for better opportunities with other employers. If you are self-employed, it means steadily working to keep your business moving up to the next level.
So I think, overall, the message is actually pretty helpful. Even if you’re at an age where that early retirement ship has sailed, you might still get some good ideas for making more money and reducing expenses. The author discusses how good habits, executed consistently, will get you to where you want to go. Most of the habits, with the one huge exception of checking your net worth daily, are good ones to adopt.

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“We don’t promote a message of extreme frugality, he said. “Instead our message is based on ‘value’ being the guiding light behind purchasing decisions. We want to cut out the excess in our lives because it enables our monthly expenses to be lower and thus speeds the path to FI. In summary, it comes down to value, and I think it is a useful exercise to go through all the lines items in your budget and ask “Is this adding value to my life?”
Agree though it all depends how one defines “best”. I put Madison, WI as one of the best places to live in the US and so do many others. Sure it’s small and not on a coast, but it’s one of the top biking cities in the US. It’s consistently ranked near the top for livability, surrounded by 4 lakes that are used year-round, home to a great public University and has a good tech scene with Epic Systems (EMR leader) and a nationally ranked accelerator, gener8tor. Plus it’s in America’s Heartland! The winters can get rough, but considering the median home price is only $220K it doesn’t take much to live large. Just light one of the fireplaces!

How do I become financially independent from my parents


"Grant Sabatier is a bold, new voice for this country's next generation -- a generation that chafes at mounting debt, rejects traditional modes of work, and longs for financial freedom. In this comprehensive money manual, Sabatier blends deep wisdom with proven action steps. He shows how to mold your mindset so that you can make the most of your dollars *and* your hours. Best of all, he provides a blueprint so that you can build the rich life you've always wished for." J.D. ROTH, Creator of Get Rich Slowly and author of Your Money
For some reason, I’m not stressed about it. Maybe because he’s the most important thing in our lives, and we’d therefore spend everything we have to help him learn and grow up to be a kind, motivated, and good adult. Perhaps it’s because I’ve also run some pro forma financial numbers to see how much we’ll have in 20 years, and it seems like it could be a nice chunk of change.
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Since you’re essentially becoming a freelancer, you get ultimate independence in setting your own goals, redirecting your path when you feel so inclined, choosing the products that interest you, and even determining your own hours. This convenience means you can diversify your portfolio if you like or focus solely on simple and straightforward campaigns. You’ll also be free from company restrictions and regulations as well as ill-performing teams.
Early hominids seem to have started with incipient ideas of wealth,[citation needed] similar to that of the great apes. But as tools, clothing, and other mobile infrastructural capital became important to survival (especially in hostile biomes), ideas such as the inheritance of wealth, political positions, leadership, and ability to control group movements (to perhaps reinforce such power) emerged. Neandertal societies had pooled funerary rites and cave painting which implies at least a notion of shared assets that could be spent for social purposes, or preserved for social purposes. Wealth may have been collective.
If you are happy with living a lower middle class lifestyle, then you would need between $800,000 – $1,600,000 in investable assets returning 2.5% – 5% a year to replicate the $40,000 in gross annual income. Of course if you’ve been investing in the bull market for the past 10 years, you’ve likely seen a higher return than 5%. But over the long run, it’s best to stay conservative since downturns do happen.

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I feel like if I am not happy/content with a million dollars … I am probably not going to be happy with 2 or 4 million either. My goal is to generate as sum passive as my expenses (inflation adjusted). There is always the fear of unknown. That being said I would not some more money. My plan is to establish a foundation which provides educational scholarship. There is a reason for my frugality :-)

I will admit, I’m not a huge fan of fancy budget spreadsheets, so I just use free tracking apps like Personal Capital. Then once a month I used the data and wrote down every bill and loan I had with the numbers next to them (some obviously varied slightly from month to month) along with every time I spent money on going out, food, clothes, etc. You’d be surprised at the things you catch that has affected your spending over the last year. Slight tweaks and adjustments can make all the difference in the amount you save. This was how I was able to identify how much money interest my student and car loans were accumulating and then identified it was critical for me to start paying them down rapidly.
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