Financial independence is becoming a hot topic and something many people strive to achieve. But, what is financial independence?

Financial independence is having enough assets or income generating assets to not have to work.

That seems simple enough. However, there are many nuisances and strategies to become financially independent that can become overwhelming. Ultimately, it boils down to increasing your income, reducing your expenses, and investing. Becoming financial independent, or simply abbreviated to FI, gives you the freedom to pursue whatever passion or activities you would like to without having to worry about earning any money. To some people this may be continuing their career, traveling the world, volunteering, or just spending more time with friends and family.