Sharing our journey, opinions and thoughts on finance.

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8 Steps to Achieve Financial Freedom in Australia

The holy grail of most people’s wealth-building goal is to achieve financial freedom.

Financial freedom, or financial independence, is the status of having a dependable cash flow to pay your living expenses for the rest of your life without having to be employed or dependent on others.

Just about everyone wants to achieve financial freedom – so how comes only a small percentage of us get there?

Well, when it comes to financial freedom, the name of the game is passive income. Also known as residue income, passive income is money earned without having to work a job.

Sounds like a nice theory, but…is it possible?

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Best Passive Income Ideas 2021

As a working professional in Australia, your ultimate dream in life is to build wealth that doesn’t eat up your time, and use it to do all the things you really love – retire early, spend quality time with your loved ones and travel the world.

Today I’m gonna let you in on a little secret – passive income is the solution to accomplish the work-life balance you crave for, and here are some ideas to help.

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How to Invest in Gold in Australia

Gold has a rich history.

Long before paper money and credit cards, gold was used as a form of currency and a symbol of wealth. The first use of gold as currency occurred in the late 8th century BCE. We’re in the 21st century, and the yellow metal still plays a vital role in the orderly function of markets and commerce.

Gold has been used in the past as a hedge against rising inflation. When the 2007-08 Global Financial Crisis hit, the prices of gold soared. Reason? Investors considered it to be an attractive option to store wealth.

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Calculator: How much you need to retire comfortably?

When you can retire in Australia

You could retire at any time and any age in Australia, as long as you have sufficient income to support your ideal lifestyle.

For most of us, the most efficient way to achieve our retirement income goal is by building investment assets generating enough passive income. And you would need to find out how much net investment asset you need to have that kind of income.