Most people consider all assets the same. They define an asset as follows: “Something one owns that has monetary value.” This definition is widely recognized and accepted. Using this definition, you could make a list of the many assets you own.
Let me introduce you to my friend Craig Curelop. I met him at a real estate meet up. His story is quite impressive but, at the same time, absolutely repeatable by you. His story was so notable that I invited him to speak to my students, and he’s been willing to do so on many occasions.
First off, it’s not a race. Please don’t go to your parents and say, “I bet I can retire before you!” But if this idea sounds attractive or appealing to you, then make it your own secret goal.
If you want to be a Financial Independence Freak, you need to know some basic terms.
The skill of managing our money is a frequent victim of this philosophy. When most are young they don’t like to “waste” time learning about money; there are too many fun things to do. But you need to start educating yourself on personal finance topics NOW. Not in 5 years. Not in 10 years. NOW.
Once you understand passive income and how it works, your life will never be the same, and this is a very good thing.
A freak knows they must break these 7 Life Rules!
Financial Independence = the point at which one’s passive income plus sustainable asset withdrawal is greater than their living expenses indicating that the individual no longer has to work for money.
Freak (n): a person who has withdrawn from normal, rational behavior and activities to pursue one interest or obsession One who is markedly unusual or abnormal SheeksFreak (n): A young person obsessed with making intelligent financial decisions to allow themselves to reach early financial independence and live their best life SheeksFreaks learn and think about… Read more »