Opinion – From Grain to Grain: These are the biggest doubts about the journey to independence

Before entering any new project, doubts always arise. I explain the four most frequent questions on the journey to financial independence.

How much do I pay?

The journey to financial independence can be compared to the task of growing a forest. In this work, monthly, you will need to buy tree seedlings to plant.

The seedlings equal the monthly contributions as a proportion of your salary that you make to your portfolio to grow it. These seedlings can have different stages of maturity.

Naturally, the most expensive seedlings are the most developed. If you buy more developed seedlings, your forest will be completed sooner.

However, you, too, can buy newer seedlings. They equate to you making smaller contributions as a proportion of your monthly income.

Therefore, the price is closely linked to the effort you are able to save as a proportion of your income.

How much do I earn?

Upon reaching financial independence, the gain you will have is basically two: flexibility to make better career and personal choices and a periodic passive income.

The amount of this income depends on how much you have accumulated, how long you intend to live on this income or if you want to leave it as an inheritance, and your investor profile.

The investor profile is a relevant factor in defining the return on the final portfolio, which will be the income portfolio.

What I need to do?

There are only three actions to complete:
1 – Build a plan for the journey;
2 – Be disciplined in following the plan;
3 – Periodically reassess the plan.

Why do most people not achieve the financial independence they desire?

Financial independence requires:
1 – Strong commitment to savings efforts;
2 – Great discipline to follow a plan over several years;
3 – Patience to wait years to reach the goal.

Patience, discipline and commitment require great energy to be maintained over the years.

Most people can’t stand that long and give up sooner, as they don’t have a plan they can lean on and visualize the path to be followed.

If you have any other questions, write them in the comments or send them by message on Instagram. The most recurring doubts I will add here.

Michael Viriato is an investment advisor and founding partner of Investor House.

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Book: The Journey to Financial Independence

summary

Introduction
Understand how you will achieve your financial independence
Living on an income is the last step on the journey to financial independence
These are the biggest questions about the journey to independence

Chapter 1 Construction of the plan