HOW TO LIVE OFF WITHOUT A JOB AND NOT WORRYING ABOUT THE NEXT PAYCHECK

In the fast paced changing world people are very much attracted to have free time out of their monotonous lives and experience what new and rejuvenating is world offering ; However, living that life also comes with certain terms and conditions . So does various other gigs in the modern era . In order to experience such fantasy we must follow some work ethics , integrity and this post which is not my own opinion but various other groups who are striving for the same .

Such groups are also known as Digital nomads (Digital nomads are a type of people who use telecommunications technologies to earn a living and, more generally, conduct their life in a nomadic manner) or The FIRE (Financial Independence, Retire Early) movement is a lifestyle movement with the goal of gaining financial independence and retiring early.

The similarity between both of them is they are breaking the modern slavery chains; finding what they like and not working in orthodox manner i.e,

Born -> Job ->Death .

Steps to be followed for such a life where you don’t have to obey anyone for living and be the orphan of this world -

LIVE BELOW YOUR MEANS or FRUGALITY

I know this comes of a little bit as a cliche but i can’t press on this enough and would also suggest ,use apps or any thing to keep an eye on your expenses . Never spend more than you earn . Don’t live paycheck to paycheck it will ruin your life as an individual and will earn you a hefty loan amount ; making life a live misery.

• Don’t have an idol or friend circle where you get inspiration of spending , rework on your friendships .
• Being in India , Mumbai to be precise I live with my parents on 30,000 Rs per month and able to save around 40 to 50% per month so you know, I teach what I preach . You can do it too.

DELAYED GRATIFICATION

• Imagine saving up all the money just for that day closer to being financially off burdened ; out of this world feeling , getting ready for a tour abroad . Here’s a catch to it and have to Practice the above bullet point 2 .
• Usually people integrated with high delayed gratification tend to be the most successful.
• Case study / Your stock Investment of 10000 rs tend to be very much less and you just got an eye on a super deal for a product which you can live without and won’t die out of suffocation than here my friend you should have the immense patience of keeping that amount intact and don’t ever take that out Example of Infosys ;yeah remember that always .

HOW TO DO IT FROM SCRATCH

Various options present at the times are -

Stock market investing

Invest even the hundred rupees you have saved up apart from the expenses and emergency fund . Buy a stock with that repeat every month you would see a change in you . A new dopamine rush you would just start to get , the feeling is just so soothing and exciting too.

Research on the stocks , learn fundamentals , finance everything related to it you can lay your hands on . Read about the stocks which grew multibagger and made rags to riches story E.g Symphony stock close to 1200x returns that would just make you ultra rich of nothing .

Earning through dividends; various stock just pays you to have a stock of their company.

REAL ESTATE

In India it seems pretty close to none chances we can use debt for a good cash flow but if you are smart enough to handle the headache ; well than it pays wonder . As the mortgage rates or interests rates are high , pretty close to 8 percent and above the chances are slim you won’t be paying out of your pocket . (Americans tend to use it for cash flow as there rents pays the mortgage where they can just live of free in a duplex ).

The rents are not unto the American standard or the interest rates where you can just invest by using debt or try to leverage out. If you have free lying money that real estate is a banger from the cash flow perspective.

Peer to peer lending — People are tend to default on the loans or never pay off in rare scenarios and that too in India where once 1 million pan cards were found to be fake , yeah who are we kidding this is the riskiest investment you can do . I am an user of I2I Lending platform and i sometimes get those Emi’s or usually don’t.

Publishing something for royalty income

I don’t know quite a lot but i am trying to start an YouTube channel really soon as is the only place where the best of the best content is free and advertisers are fighting to be in front of your eyes , marvel understanding such enormous power also tried YouTube events, so you know it is powerful.

And yeah my niche is going to be in the public interview segment .

Investing in a startup or business

You are not an angel investor if you are reading this article but yeah one of the ways you can increase your wealth is through lending money to someone you know and have a belief in there products .Just think of being an early investor of Uber or Tesla or Apple .

Basically all you want to know and take from here is get your money working ;try to make multiple sources of income it will prove to be a catalyst in this financial freedom journey .

P.s — Most of them are tried and tested shall be adding more points to it.

These are the proven ways to retire early .