Quote from: Vaculin on Today at 01:45:27 AM

Quote from: Gaza13 on January 28, 2024, 01:58:19 PM

Yes, of course, if we have investment assets for a very long period of time, we will definitely need another source of income, we cannot live every day with the assets we have. Investments not only rise, but prices fluctuate greatly.

but you need to remember that job loss can happen at any time, so we have to be prepared for something like this. So in my opinion we have to be smart about managing our finances and our time while still working at a company. Set aside a few percent for investment, set aside for survival and emergency funds. And we also shouldn't be too wasteful when we are young, it is better for us to live frugally when we are young, if our youth is used well it will determine our life in the future

That is what we call financial protection. Not just in the case of losing our job but also when some emergency may happen to us at least, if we can't work we still have money to use unlike in the situation where we are fully reliant on our salary and if the job is over, we're empty as well.

So while we still have the chance, we must take the necessary things to do in order to grow our savings plus have some investments. In this way, we already secure our future. We won't be like those people who keep overspending and prioritizing themself now for some nonsense thing but not preparing for the future when we can't work anymore.

To get financial freedom, I think we have to have at least 3 sources of income, where the first is monthly income, such as when we work or have other businesses that generate income and are able to meet our daily living needs, after that we move towards passive income, where our assets can generate money. without us having to work, for example on rent. On the other hand, we also have to have portfolio income, such as empty land that is increasingly being developed or investing in shares or cryptocurrency