/ philosophy

BFAW Philosophy

Welcome to www.befreeandwealthy.com.

Thanks for reading this. I wrote this post to outline what kind of ideas, philosophy and topic this website covers.

What kind of FIRE?

You've probably heard about the FIRE movement (Financial Independence Retire Early). You will find a lot FIRE websites explaining how to move to a cheap area (in the US or abroad), being able to live off 10000$/year and hustling at random online jobs 60+ hours/week. This is not this website.

There is nothing about this lifestyle and once upon a time, I seriously considered doing this myself. But this website is about building passive income while living in expensive US coastal cities (like NYC, LA, SF, Miami, etc...).

Is this for me?

Yes. In fact, I strongly believe everyone can achieve some sort of financial freedom. And the best time to start is NOW. No matter what age you are (20s or 60s), the most important is the mindset.

Whether you want quit your job or not having to worry about money, this website will give you the tools for this.
Each decision we make about spending, earning or investing ultimately shape how our wealth is created. Reflecting on what drive those decisions can really change your life.

How much money do you really need?

To never run out of money, you just need 25x to 30x your yearly expenses. Simple! If you spend 50000$/year, then you need 1.5M$. That sounds like a lot, but again if you live in expensive coastal cities, there are plenty of opportunities to achieve this.

Passive income ideas

We will explore different idea and methods for creating sustainable passive income. Whether it is buying real-estate, equity investing, fixed-income, side businesses, pre-tax vs post-tax, retirement hacks, housing hacks, etc...

Frugality is not the answer

Again wealth is built by saving more than you earn and investing wisely. Only saving money can bring you so far, and focusing only on saving money can be quite detrimental.

If you read until here, then nothing can stop from achieve financial freedom. Stay free and wealthy my friend!