Want to Reach Financial Independence In 3 Years? Start A Business.

Investing is just insurance against failure

Photo by Vlad Deep on Unsplash

What is your time frame for reaching financial independence?

3 years? 10 years? 20 years?

I was on track to achieve FI in three years through my business, but then I was defeated. We’ll explore that later.

I believe 3 years or less is the ideal path to financial independence. I think people can keep the motivation up for that long, especially as their business hits milestones.

If you don’t want to start a business (and I include real estate investing as “a business” instead of investing), then your best bet is about 16 years to FI through stock market investing and saving 50% of your income.

I expect many people cannot achieve that savings rate, but it’s important to understand the math.

Starting a Side Business Can Achieve Financial Independence in Three Years

I have heard several different successful entrepreneurs mention that it takes 1000 days to replace your job income with business income.

Here’s what my experience was:

• Year 1: At the end of my first year, I passed $100 in my…