How to Become Financially Independent with No Money

Everyone LOVES talking about achieving financial independence. BUT, what if you don't have a lot of money to invest OR you just don't make a lot of money in the first place. Well, this video will help you with a FI Plan for your financial situation.

STUFF I RECOMMEND!*

🔍 The Scenarios: We delve into two distinct scenarios - one involving a person with a high income but high expenses, and another with a lower income and family responsibilities.

1️⃣ High Income, High Expenses: We analyze the financial situation of a person earning $120,000 per year, burdened by car payments, a mortgage, and credit card debt. Despite these expenses, we explore practical strategies for achieving financial independence.

2️⃣ Moderate Income, Family Obligations: The second scenario focuses on a family with a household income of $65,000 in a high-cost living area. We examine their financial constraints and offer realistic steps towards financial independence.

📊 Detailed Analysis: Each scenario is broken down to highlight income, expenses, and potential savings. We calculate the possible future value of their investments and discuss the implications of these figures.

The ultimate dream is financial independence, where you get to control what you do, when you do it, and how you do it. Learn how to become financially independent with no money and take charge of your own destiny. Discover two scenarios of individuals who didn't have a lot of money to invest but still achieved financial independence. Find out the strategies they used and start your journey towards financial freedom today. Don't forget to subscribe to our channel for more valuable tips and advice.

#financialindependence #financialeducation #personalfinance

*Disclaimer: Bob is not a financial advisor. Please contact a professional financial advisor prior to making any decisions. Some of the links and other products that appear on this video are from companies in which Bob Sharpe earns an affiliate commission or referral bonus. Bob Sharpe is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

[BobSharpe]

Keep up with the Joneses, or, find the magic in your life?

[nettoyageadriance]

It's not about what you make, it's about what you keep. I clean windows on my bicycle and have a fully paid off home, enough saved to be barista FI, and am shopping for an investment property. I only work half the year and live on the beach in Latin America in the winter. Just live simple. "Keep your eye simple."

[rahuljmc]

I really appreciate you and your content. There’s tons of videos about finance out there. Sometimes people need an eye opener. I hope this video serves as an eye opener to some people because you laid out the facts without sugarcoating it, with the math to back up everything you talked about. Also you made a very interesting point with the “geo-arbitrage”, I bet that’s something that the average Joe doesn’t think about! Keep up the good work! 😊

[stopper]

Love your videos, is this spreadsheet you use in this video available for download?

[krestwoodb]

Bob I gotta say.. You killed it the thumbnail. I love it.n Right there with you about the car. I own a chevy cruze and I use it even for my business LOL. I will never buy a expensive car even in my more well off years. Bad investment!

[dodo_]

Thanks so much for the video Bob! What is the name of this site (in 4:56)?

[hasole]

Is this xls available somewhere? Thanks

[dominiquetheeasyminimalist]

I bought a brand new Honda Accord in 2011 that’s now been paid off for 7 years, it’s so amazing to have that $600 monthly to invest. I feel people spend way too much money on cars and “stuff”, little tweaks in a budget can make a world of difference 😊

[anthonyv]

The problem in California is, if you want cheap housing, you will live in a sketchy place. One bedroom 1 bath is around 2300.

[TheGoldnDog]

Side note. Do you still like ETH by itself now that the etfs are out? I been adding weekly to both BTC and ETH. Appreciate your feedback

[johnj.doublej]

Love that term of financial independent instead of “rich”.

[rain-wanders]

Where can we get the spreadsheet at 3:53? I'd like to figure out the amount I need to retire.

[JasonPearson]

Enjoyed your videos for a couple of years now! I sent you a msg on Twitter but it might have appeared as spam. lol. I was hoping to run my financial situation by you and pay for your time if you were available. I didn't know if you did that sort of thing or not. Shouldn't take more than 10-20 minutes at most. If not, I understand but I thought I'd try to get your input :)

[cyclone]

What is the best (company, bank, financial institution, whatever) to go to that will give you the best and most honest plan for your financial future?
Which one's will work for YOU and your benefit and not just use you to make more money for themselves? And how much should a family pay for this kind of company or planning? (What the average cost?)

The reason I ask is that if people are trying to make better decisions for their future but don't know exactly what they are doing then those moves could really hurt them in the future. Shouldn't they find the pros? Would it be better to pay a pro and be sure that you're not making mistakes?

Thanks Bob, I'd appreciate your thoughts.

[awesome]

My parents make $400, 000 and we live paycheck to paycheck. They do have 6 kids though.