What financial independence means

I technically have an impressive net worth and could theoretically live off my rental checks I get

I listen to a lot of investor podcasts and I am part of those types of groups on facebook. I even went on a trip to an investor weekend where we all talked about how we are improving our wealth. I read books, talk to other investors, real estate agents, stock brokers, you name it. Basically I want to be financially independent. What does that mean? I want to be able to not worry about money anymore. Basically working 9-5, saving money in the bank and paying bills is a good way to never financially be independent. What you need to do is make your money work for you. Money in the bank isn’t doing anything. It is much smarter to buy stock, purchase a rental property or flip houses and put them for sale. You need assets in your portfolio. You want a high networth rather than a high bank account number. As part of my financial independence I want to no longer work a typical 9-5 job. My goal is to have enough residential and commercial rental properties to pay my mortgage, car and groceries. Each rental should quickly help me pay for the next one. Currently I have five rental properties under my belt. They range from being an apartment complex to a single family home. I technically have an impressive net worth and could theoretically live off my rental checks I get. I am hesitant to do this. I think I might want another rental and then to hire a property manager. That way my time isn’t spent on the rentals all day long, but looking for the next day.

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