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The Path to Financial Independence
The term *financial independence* indicates a state of finances in which an individual can fulfill primary needs without participating in employment. It is usually achieved when the difference between *recurring revenue*—corporate dividends, product sales, real‑estate rentals, etc.—and *living expenses* covers the basic quota for personal sustenance. The path to financial independence is usually undertaken by people with a strong desire for freedom, or by people with significant capital looking for smart ways to manage it. This goal is rarely achieved by luck—like a lottery win—but rather by a strong and disciplined management of personal finances, with a pinch of entrepreneurial skill. ...