Out of 100 youngsters why would only about 8 of them achieve financial independence by the age of 65.
What is the difference beween these 8 and the other 92? Obviosly money but besides that?
Re: How to become financially independent
Ok if you are reading this then you are more likely to be within that 8 as opposed to the 92.
Re: How to become financially independent
Maybe they know how to do the math! hehe
Re: How to become financially independent
Hehe maybe :D
Well the first thing is desire to discover how to make a fortune.
So what sorts of things stop people from becoming financially independent?
Re: How to become financially independent
Peace
Complacency in job security (Finanically independent people have businesses, most people don't think of starting up their own businesses)
Risk aversion in people stop them making potential gains
Schooling - most people conform to the product engineering of schools and become consumers and cogs in the wheel of capitalism thus having constrained thought processes
Family - People around can prevent this happening demanding time and attention
(You might need to factor out some of those hundred who die before 65 years)
Money - Money itself can be a cause for stunting financial independence. If we have money coming in then we are not in need and no need demands no action.
Values - some people do not want or have ever thought as that as a goal for them
Re: How to become financially independent
What does "financial independence" really mean? Lets define that first.
Re: How to become financially independent
Where did the stat come from? I would think that 65 is bit late, if the person wants to enjoy his/her financial independence than maybe late 30's early 40 at the latest.
Re: How to become financially independent
Good points Psyah.
Financial independence is the ability to lead a comfortable lifestyle without having to work, or to even trade down or live in a emerging economy.
The stats are for illustration purposes only although they will be somewhere in those regions. The age of 65 is also for illustration purpose, one should start to enjoy his/her life as soon as one can.
If that is the definition then atleast “employed” people can’t be financially independent until their kids are out of school/start working, that means I am not financially independent 
Re: How to become financially independent
Financial independence doesnt necessarily mean lifestyle without working, you can have financial independence even when working, a debt free life and have enough money to lead an enjoyable life while working, especially if you are working for yourself.
What does "financial independence" really mean? Lets define that first.
**Living within ones means is always a good practice and can lead to financial independence............................wich in turn leads to better health.
Even the Medical Profession acknowledges that now......check out ***Dr. Michael Roizen, a top anti-aging expert*
Re: How to become financially independent
I heard a quote once that the difference between financially independent people and those who are not is what they do in their spare time... which boils down to your association, habits and choices.
Re: How to become financially independent
careful life style or lack thereof, intrinsic motivation's level, dedication to being hard working or not, life situations which could be totally unforgiveable to an otherwise, very nice, caring, responsible and mature person.
but, money is never ever anything by itself.
Re: How to become financially independent
In any field if you want to become the best then you have to have the desire to learn and master that field and that is also the case with being financially independent. Having a genuine interest in the subject does help. You can define financial independence in many different ways. However you define it it, society will always be a pyramid shaped when it comes to finance.
penny save is penny earned.
Re: How to become financially independent
True Raza. However some people can also be pennywise and pound foolish!