Happy Financial Independence Day 3

The American Dream is still alive and kicking, just not in the same way we envisioned. We thought it would be easy (and straightforward) to free ourselves from our jobs. NOT.

In 2023, we will have rampant inflation, crazy housing costs, high utility bills, and low marriage rates. So we are getting squeezed and are trying to go at it alone.

Don’t let the headlines get you down. You can still live the life of your dreams, but it will take significant time and effort to get there.

Middle-Class 103: Create Additional Streams of Income

This is the third part in my Happy Financial Independence Day series (2021, 2022), where we use the Fourth of July weekend to reflect on our passive income goals. 

Making passive income progress. The only way to free yourself from the bondage of the workplace is day-by-day progress.

You won’t see too much change daily, but you will see massive growth annually. Let’s look at my dividends, rents, and royalties from May 2021, May 2022, and May 2023.

1. May 2021: Dividends    ($345), Rents ($200), Royalties ($41)
2. May 2022: Dividends    ($858), Rents ($250), Royalties ($84)
3. May 2023: Dividends ($1,154), Rents ($650), Royalties ($145)

Indeed, building streams of passive income is the long game. You’ll probably have to keep your day job until you can reap the fruits of your labor.

How to Build a Passive Income Marriage

Overcoming society’s pressure to fail. Everyone will tell you that the world is stacked against you, and to some extent, this is true.

However, It’s not what you think. Society doesn’t care if you succeed or fail. The economy isn’t aiming to see you struggle or overcome—it cares not.

What is stacked against you is your lack of financial education. Without financial literacy, you become a consumer and a customer.

You spend money on overpriced clothes, vacations, and cars. It is challenging to escape once you are in this big city world of consumption. In fact, most people continue down this costly path for their entire lives.

Five Takeaways from “Build Your Music Career from Scratch”

So, as everyone says, you’ll never escape. But you won’t because of choices, not because of social manipulation. The path to financial freedom is invisible until you understand how to find it.

Finding the road to financial freedom. The 4th of July is a perfect time to rethink your life’s mission. Do you want to work for someone else for the rest of your existence?

Or would you like to work toward your higher purpose, such as helping children in need, rescuing animals, or caring for the elderly?

You won’t be able to escape your 9-5 job without walking a path of financial freedom. When you are in the grind, as I was, it’s nearly impossible to find the way.

The Creative Blogger: Write What You Want

However, I can explain the steps I took to buy my financial freedom. Your path may differ completely, but here is a good starting point.

1. Living below your means.
2. Saving and investing the difference between income and expenses.
3. Creating more income.
4. Find your life’s passion.

I just remembered I wrote about the steps back in 2021 in the article “4 Steps to Become Rich.” I’ll refer you to this article for a detailed plan for getting ahead.

Finding your life’s passion. Most of us never thought about our lives in detail. We assumed our job or career WAS our passion. Maybe it is, and maybe it’s not.

Bonds for Mom: A Low-Risk Retirement Plan for Mom

I loved being a Marine, and I saluted for 24 years. But, my life’s passion is discussing financial independence with the middle class.

Everyone should have the resources to understand how to free themselves. If they choose to continue to over-consume and go into debt, that’s on them.

However, the lack of financial education in school is a shame—perhaps bordering on criminal negligence. There is no way financial education simply stayed out of our schools for this long without somebody lobbying against it.

Podcasting vs. Blogging: Start Your Creative Career Today

What is your dream 4th of July Weekend? If money was not an object, what would you do on the next 4th of July Weekend?

I would take my family on a boat ride to a sandbar in Pensacola, Florida. We could hang out in the sun all day and go to a fancy restaurant at night. We would rent a fabulous house on the beach so that we could enjoy the water at night.

Most of us don’t dream big. Maybe you want to travel to Italy with your family or play at a top-notch golf course.

These dreams are what drive us to free ourselves from the rat race. They are a necessary part of the financial freedom equation.

What is Your Net Worth?

Financial freedom is about giving back. Most people believe financial freedom is about money, but it is really about time.

But what will you do when you have unlimited time? Will you squander it watching Netflix or drinking beer?

This is why it is essential also to find your passion. Yes, we love to spend time with our families, but you’ll also need an individual passion.

With time, you can make a massive difference in this world. We call this the power of compounding, which can change your life.

The Perfect Life: Dividends & Homesteading

So think long and hard about what would motivate you to wake up every morning. Your voice will be ten times louder as a free person because no one can hold you back.

It starts with finances. Now that you have dreamed of making a difference and spending time with family let’s return to reality.

Spend this 4th of July making a budget and reviewing spending and expenses. What can you do today to live far below your means?

Living below your means is earning $8,000 monthly but spending $5,000. When you save and invest the $3,000, you will increase your chances of financial freedom.

Feel Special with Special Dividends

The details are in the nitty-gritty of your budget. Every month you invest in dividends, your income will increase.

If you invest $3,000 per month in an income investing portfolio at 10%, you’ll have an extra $300 in monthly dividend income.

Conclusion. Do you think it is possible to invest $3,000 per month? It absolutely is when you think outside the box.

Create Royalties While Working a Full-Time Job

You must get roommates, rent your parking space, or buy an ATM machine. Whatever the case, you can’t sit still and wait for a pay raise.

I have been writing about financial independence for three years. Now, I am two months away from retirement and freedom.

It takes an ungodly amount of effort to reach this point. Is financial freedom worth the arduous journey?

Absolutely, because you will have earned time with your kids and grandkids. Even better, you can instill everything you learned into them so their path is visible from the start.

The world isn’t about getting a job or building a life. It is about creativity, brilliance, and paying it forward. Through giving and sharing, we find our true purpose. We need to be free. Enjoy your 4th of July!

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