Asset Hussle is a financial conversation blog, no financial experts just ordinary working people talking about their financial lives, successes and failures.

I’m an immigrant from South America who is on a journey towards financial independence several members of the family are already financially independent. So I know the path to financial independence, does it require having a million or more dollars in the bank the answer is no, though there is a family member that do have a million dollars in total assets. So what is financial independence?

1- Zero debt

2-Assets that pay you a residual income

3-Monthly positive cash flow that pays all your bills and adds to your savings.

You don’t need a million dollars to have financial independence, people worry themselves thinking they have to save $500,000 or $1,000,000 to be financially independent and get discouraged when it hits them that they won’t. Financial Independence is zero debt, accumulating assets and positive cash flow from your assets that pay your bills and adds to your savings. If you have an asset, for example rental properties that gives you $2,500 positive cash flow per month, that’s the same as having $500,000 in a mutual fund giving you a 6% annual return. You can SAIL towards financial independence (Save-Assets-Invest-Leverage).