A compelling story thrives on unexpected twists and turns. It’s fueled by our curiosity about the unknown and the extraordinary. Similarly, finance is filled with unexpected twists and turns, igniting our curiosity about the unknown and extraordinary. In this episode, we dive into the world of finance, not as Wall Street experts, but as everyday people who yearn for freedom and struggle with navigating bills, budgets, and bank accounts. We explore the concept of financial independence in our fast-paced, technologically driven world. So get comfortable, and tune in!
[00:00] Morgan Freeman Introduces The Show!
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[00:20] In this episode, Igor navigates the complexities of bills, budgets, and bank accounts while unraveling the concept of financial independence in our fast-paced, technologically driven world.
[02:04] What Is Financial Independence?
- Being financially independent means being able to cover all your bills with relative ease, to be able to save at least 10 to 25% of your income in a savings account.
- It is to have multiple streams of income just in case some of them give out on you.
- It is also important to add to this definition that you probably want to be doing something you’d like to do. Meaning that if you’re if you’ve got financial independence, but you’re doing something you hate, or you’re dealing with people you hate, or in one way or another, you have to take a concession every day, and convince yourself to go to work. That’s when I think you’ve created financial independence, you will hate and you will eventually sabotage it in some way, shape, or form.
- There are people out there who make a lot of money who are unhappy, but they’re not unhappy, because they make a lot of money, they’re unhappy because they make money in a way or in a job or in a business that they don’t like, with people or clients that they don’t like.
[04:15] How To Become Financially Independent:?
- Financial independence is as much about the independence part as it is about the financial part.
- I think the only way you can become financially independent is when you go to work for yourself. I don’t think you can become financially independent when you work a day job.
- People who are looking for independence and financial independence usually can only find that when they start their own business. When they go freelancing when they go and create something, or otherwise provide a service to a group of people, but they do it on their own, they don’t, they don’t do it as a part of a job.
[06:20] White Collar Jobs And The A.I.:
- With A.I. taking over, I think the white-collar jobs are going through a similar revolution, as the blue-collar jobs went through in the industrial revolution.
- There are very few jobs or just positions or skill sets that are not in danger.
- True security actually comes from recognizing that we’re only as secure as our ability to produce income. And I think in a job position, that’s not what you’re doing, you’re not really training yourself, you’re not really developing a skill to produce an income, you’re developing a skill that someone else finds value in that particular point in time, and is compensating you according to a marketplace standard, which changes all the time.
[09:46] Igor’s Book On Email Marketing:
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