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22 November 2021

4 Step Guide to Achieve Complete Financial Independence


Having the means to support you and your family without financial burdens in life is perhaps one of the greatest expressions of freedom you can think of. While it may prove to be quite difficult at first, it’s not entirely impossible to achieve. 

Since most things in life take time to build and perfect, it may take some time to accomplish. It’s important to start planning and mapping out your financial goals as early as you can. 

Here’s a four-step guide that may help you achieve complete financial independence:

1. Address Anything Holding You Back from Achieving Financial Freedom

Supporting yourself isn’t always easy. In fact, most tend to struggle and stumble at first. Before you work on achieving your goals, it’s best to put yourself in the best position possible. 

This means working on your bad financial habits and trying to pay off as much debt as possible (car loans, credit card debt, student loan even getting ahead on your mortgage!)

The goal is to get through this stage as quickly as you can. This means you’re in a good foundational position to better your finances sooner. 

2. Work on the Small, Regular Steps That Move the Needle

After working on improving your financial position as much as possible, now is the time to plan the regular things you can do to achieve your financial independence.

Set your financial goals and reward yourself for achieving important milestones. 

The small steps will be unique to your situation. Consider:

  • Saving a regular amount each week 
  • Use a certain amount to pay down debts weekly
  • Look at where you can cut down on small expenses (bills or groceries)

This phase of your financial journey means you may be ready to start taking more exciting steps that will take you closer to financial independence. 

3. Look at Ways to Grow Your Wealth

Once you’ve achieved financial stability, you now have better control over your agency, putting you in a more attractive position financially. 

You’re at the stage where you can choose the things that grow your money. Now should be the time to start focusing on a long-term financial growth strategy, which may include building an investment portfolio. 

You finally have the choice to invest your money in something meaningful and beneficial for you. It’s at this stage that you can choose whatever investment you like without being overly concerned about your everyday financial expenses. 

4. Find Ways You Can Protect Your Wealth and Your Future

Growing money is, understandably, a huge priority for most people. But many people forget to take the next important step to protect their wealth. 

Protecting your wealth – through the appropriate insurance policies – can give you true peace of mind that you have reached financial independence. 

With a wealth protection plan, you can:

  • Protect your income and your family’s future
  • Maintain your desired lifestyle without financial stress
  • Reduce unexpected costs in the future
  • Feel confident in your financial stability

Achieve Financial Independence with a Financial Planner in Sydney

Achieving financial independence requires patience, discipline and determination to protect your wealth and reach your financial goals. These stages provide a great guide to get you started on your path to achieving financial freedom.

Hyland Financial Planning is here to help you become secure and prepared financially for what the future holds. 

We know how much your life can change in a blink of an eye. That’s why we offer financial planning – including estate planning, cash management, retirement planning, and investment advice – to help you achieve financial independence. 

If you need the help of a financial consultant you can trust, contact Hyland Financial Planning today.

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