Has anyone achieved financial independence?

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Im looking into investing a small night club business part time with a group of friends. I have recently read The Rich Dad Poor Dad series of books about money and its philosphy really changed my way of thinking.

I have been dwelling on the fact that on the salary I have which is very good (60K) and stable however I will never achieve financial independence with it. I wouldnt be able to achieve my life goals if Im committed to a job my whole life so Im just wondering are any of you small business owners or stock investors? Anyone worth more than a million dollars in assets? Anyone achieve financial indpendence on here? Thoughts discussion? Im open to it ha lata

Anyone been pressured to join network marketing?

Blimey ! !

I thought I was doing good to keep full time employment ! !

60k that's amazing money, let me know if you have any online jobs going! I am struggling for employment. I'm IT proficient in the Microsoft realm.

60K isn't good enough? Wow, you must have a high standard of living.
I consider being able to pay all your bills being "financially independent."
By my terms, I am. By yours, probably not.

Hi kbergren21

60k is definitely healthy but earnings is not as important as savings.

A man who earns 10k and saves 8k beats the man earning 60k who spends 53k.

From savings, expenditure goes to investments.

I have financial independence and can recommend Peter Lynch and Warren Buffet as excellent mentors. Though stock centric, their teachings are applicable throughout all business and investment.

R.K. I would avoid mightily.

Glenn AU is correct, it's not how much you make it's how much you save and invest. I've never made anywhere near 60k in salary and I've done pretty well in real estate investing. I wouldn't dream of taking on partners in any type of business venture. It always looks like a good idea to go into business with a friend, or family member, but it rarely works in the real world, and it can distroy a friendship. (trust me on this one!) The same holds for borrowing money, from a friend, to go into business.

Here are some books I would recommend.

Financial Peace, Dave Ramsey
The Millionaire Next Door, Thomas Stanley
Rich Dad, Poor Dad, Robert Iwasaki (sp?)
Fooled by Randomness, Nassim Taleb

Good luck!

The benefits of salary are all location-specific.


I make 65K now, and I feel pretty poor. In my area, I have little to no hope of ever owning a house, and even getting my own apartment is out of reach, financially.

My dad makes 40K, and he can easily afford a 4-bedroom house.


So I'm just going to save as much as I can, then Californicate back to New Mexico.

I don't have a degree yet or a full-time job. I work part-time and that covers all my expenses as far as school and gadgets go. Housing is something I don't have to pay for because I am living with my grandparents.

But I have thought about how I would manage my money after I start making more of it, like 30-75,000. I would take out a chunk for my living expenses. I would want a chunk that enables me to live comfortably, but not either very frugally or very lavishly live. Then I would divide the rest in half. Half would go into savings, the other half into investments. My savings would further be divided between both an IRA and some mutual funds and silver or gold coins and bullion. As for investments, land, agricultural, and alternative energy companies look like good investments right now to me.

I would enjoy the fun and trendiness associated with owning a nightclub--imagine, a great way to meet the ladies and possibly stars in the entertainment industry (not just for me but for the guests as well). However, unless the entire place is gold plated, I don't see much long term investment opportunity in one. Local clubs and bars around here seem to go out of business as often as do furniture stores.

Yes. It took a few years, though (where I was working and living alone, but still needed the occasional loan from my parents). But now I'm independent.

Thanks, I have laid a very similar investments you suggested. Its a portfolio that makes sense. Im considering joining American Association of Individual Investors here in a few weeks. Anyone have anything to commnet about the investment group?

Rich Dad Poor Dad is an awesome book! It what really opened my eyes about investing. Ill read those other ones when I get the chance thanks!

Im reading James Oshaugnee's: What works on Wall Street. Its very interesting... He uses over a hundred years of history and statistics that makes sense in stock investing. His theories makes sense however; can anyone here claim that they made money in the stock marketing using technical and statistical investing?