This post is part of a 30-day series called the 30 Steps Program to Financial Independence.
If you’ve been tracking your journey toward financial independence, you’ve probably noticed your passive income gradually increasing. It might have started small, like $5 a month or $10 a month. Everyone earns some passive income, even if it’s just a few dollars from a savings account each month. Watching that number grow as you save more, invest more, and simplify your lifestyle is really satisfying.
Finally, after years or even decades of effort, you reach your goal: the tipping point where your passive income matches your monthly expenses. This means that, assuming nothing changes, you no longer need to work to cover your living costs. Your income covers your rent, food, gas, leisure activities, and vacations. How amazing is that?
This is my ultimate financial goal—not having to work for money. I don’t think I’d completely stop working, but I could choose a part-time job, volunteer somewhere, or pursue something meaningful to me. My paycheck wouldn’t matter that much anymore. My boss wouldn’t have any negative impact on me because if I ever stopped enjoying my job, I could just walk away without worrying about paying my bills.