Reduce expenses again or increase investment income
The fifth financial milestone is security, which involves creating a reliable source of income to cover basic living expenses. This can be achieved through investments that generate a steady cash flow, such as rental properties or dividend-paying stocks. The goal is to create a passive income stream that covers all basic living expenses, so that individuals no longer need to rely on traditional employment for income.
Discover your wallet's secret weapon – the Emergency Fund! Be a money superhero, ready to save the day, every day. Saving has never been so empowering!