Three Factors for Financial Independence

By Lis McNealey Davies, CDFA®
Owner, Financial Advisor

Three Factors for Financial Independence

By Lis McNealey Davies, CDFA®
Owner, Financial Advisor

It may not come as a surprise that the first step to financial independence is starting with the end in mind. Knowing where you want to get to can help you build a solid plan to get there. Plans to create financial independence may include a combination of the following.

Real estate investments
Whether you are purchasing a second home, rental property, or buying into real estate investment trusts (REITs), there are many benefits to including real estate as part of your path to financial independence. Rental properties can provide you with ongoing passive income and may appreciate significantly over the years.

Business ownership/investments
Many people achieve financial independence by starting their own businesses. Those with an entrepreneurial spirit are drawn to the possibilities that owning a business can afford, where there are no caps on earnings. Business ownership may come with a variety of tax and savings advantages as well.

Living according to a budget
Some of the most wealthy people we have encountered live well below their means and pay close attention to their expenses. The old saying “a penny saved is a penny earned” rings true with those who are financially independent and think about how to maximize each dollar.

If you would like to chat about incorporating more items in your path to financial independence, please contact us for a free consultation.

Lis McNealey Davies is owner of The Arlington Group Investment Consulting. A leader in the female focused financial advisory niche, Lis builds upon the group’s strong foundation and core offerings to drive growth and champion the group as an emerging advisory company in the divorce, widowed and life transition niches. As a previous divorcee and mom to three wonderful daughters, Lis understands firsthand the importance of financial confidence.
The use of the CDFA® designation does not permit Wells Fargo Advisors or its Financial Advisors to provide legal advice, nor is it meant to imply that the firm or its associates are acting as experts in this field. Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN), Member SIPC. The Arlington Group Investment Consulting, LLC is a separate entity from WFAFN.
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