The Money Podcast Financial Independence: The REAL Definition (& Solution)
Although this is an episode for everyone, this is more specifically aimed at these who are not the main breadwinner of the household. Rob explains affective techniques that you could use to insure you are financially independent if you’re not already.
KEY TAKEAWAYS
- Financial independence is a more about the independence rather than finance. For example, if you were left on your all on your own, you would be able to survive and strive without having to work or sell.
- Even if you’re in a really happy marriage and feel like you’ve got a great team around you I would still highly recommend taking some provision to look after yourself.
- Ensure you have capital reserves for just yourself, ISA’s are good for this.
- Build assets that produce income that could be intellectual property. E.g. books, property, business.
- Have your own independent business that brings income. This could be Ecommerce or art or whatever you’re good at that can bring in money just for you.
- Have a will and ensure you prepare for any eventualities.
- Insure yourself so that if things do go wrong then you’re not completely left with nothing.
BEST MOMENTS
‘You need your own bank accounts, you need your own capital and savings’
‘You never know what could happen’
‘Have income coming in regardless of your capacity to work’
‘Make sure you have limited outgoings’
‘Are you secure independently?’
VALUABLE RESOURCES
ABOUT THE HOST
Rob Moore is the host of the UK’s no. 1 business podcast “The Disruptive Entrepreneur,” as well as an entrepreneur, property investor, property educator, and a holder of 3 world records for public speaking. He is also the author of 9 business books, 5 UK bestsellers, and the global bestseller, Life Leverage.
“If you don't risk anything, you risk everything.”
CONTACT METHOD
- Rob’s official website: https://robmoore.com/
- Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs
- LinkedIn: https://uk.linkedin.com/in/robmoore1979