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What is Your Crossover Point
to Financial Independence?

By Chad Carson 2 Comments Filed Under: Financial Independence & Early Retirement

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Just because you’re reading this article, I know you likely have dreams and aspirations that motivate your financial game plan.

Maybe you just want a long break (a mini-retirement or permanent retirement) from the grind that has become your life.

Maybe you want to switch careers to something more fun and fulfilling (even if the pay stinks).

Maybe you want more time with your family, who you care about most but spend the least time with.

Maybe you want to make a big contribution to the world, but you don’t have the time or resources to do it.

Financial independence is a stage of life many of us aspire to because we hope it will allow these big dreams to come true.

But how does financial independence really come? What does it look like from a practical, nitty-gritty, money standpoint?

your_money_or_your_life_cover

A wonderful book called Your Money or Your Life has given me one of the clearest explanations of financial independence, both from a practical and a philosophical point of view. According to the book, the point at which your reach financial independence is called the crossover point.

I’ve made a short video that visually explains how you can track and calculate your own crossover point. I hope it’s as helpful for you as it has been for me.

Enthusiastically your coach,

Chad signature - cursive

PS – I’d love to hear your stories and comments about your own goals for financial independence. Leave them in the comment section below.

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Tagged With: crossover point, financial independence, passive income, real estate investing, your money or your life

Trackbacks

  1. Game #2: How to Create Passive Cash Flow | Coach Carson | Real Estate, Money, & Life says:
    May 25, 2015 at 3:05 pm

    […] goal is to receive enough passive income to cover all of my personal overhead. At that point, the crossover point, active work is a matter of choice. I’ll keep working for money if it’s fun and fulfilling, but […]

    Reply
  2. What Is Your Financial Independence Number? | Affordable Real Estate Investing: A Property Investment Guide to Create Real Estate Income From Properties Under 30k says:
    January 19, 2016 at 6:01 pm

    […] personal overhead.  In the great personal finance book, Your Money or Your Life, this is called the crossover point.  In Robert Kiyosaki’s Rich Dad, Poor Dad books, this is known as leaving the rat […]

    Reply

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