Seeking financial independence early in your career

By Blake Smith

It was a gloomy, rainy day at a midwestern college. Looking out the window there was no one around and not much to do. I had about $8.67 of assets to my name with a pile of laundry to do and an electric bill to pay. I was sitting at my computer wondering why did I go to college if I have no job prospects and now no assets? Several other classmates I knew had jobs lined up when they graduated and had money transferred to them from their parents as allowance. I, on the other hand, had to work none stop to ‘keep the lights on.’ Where would I go from here?

How was I going to achieve financial freedom? Why should I have to rely on a job for my life? I wanted to be able to do what I wanted and say I created something. I came up with three strategies that I should focus on, which included:

1. Dividend growth investing: With dividend growth investing, you can achieve financial freedom by maximizing your total return over time.
2. Passive income: Through passive income, you can create a moat around your finances by earning income from a number of different sources.
3. Personal finance: Execution and education is key. By staying up to date on the latest personal finance strategies, you can pay down debt quickly or make the right decisions to secure your financial future.
4. Travel: You only have one life to live. There are so many ways to learn, but one of the best ways is by traveling. Travel experiences are priceless and can ultimately lead to a happier lifestyle.

“Wherever you go becomes a part of you somehow.”

The fourth point is clearly important because I am a big believer in enjoying life at the current moment while being aggressive in my pursuit of financial freedom. I’ve been using credit card manufactured spending to allow me to travel for no cost. It’s been a lot of fun.

At Millionaire Mob, we are focused on building income streams to be completely non-reliant on our day job income. We believe that achieving financial freedom is easier than you think. What you should focus on is the 3Ps, which include:

• Patience
• Planning
• Progress

Yes, I am a millennial. No, I won’t let the millennial reputation decide how I will personally fare in my pursuit of financial freedom. Going forward, I will turn my attention to creating other forms of income to build wealth. Thus, achieving financial freedom. I can’t wait to share my progress over time with the rest of our ‘mob’. Any additional income will be used to invest in a dividend growth portfolio, which will enable me to receive even more income while realizing the benefits of long-term capital appreciation in the stock market. If you are curious, check out our guide to building a dividend growth portfolio. We’ve included an infographic that is bound to help you.

What did I learn throughout my career? Invest in yourself. You get paid to provide a service to your employer. You can leverage that into anything you want and if you have a passion for something the money will follow as long as you focus on delivering high-quality work.

Once you get the ball rolling, financial freedom is within reach

Yeah, I’ve tackled my student loans. Yes, I continue to max out my retirement accounts and then some. No, I won’t stop trying to build a legacy of financial education to achieve financial freedom. You too can pay down over $60,000 in student loans and create a net worth of $300,000 in a matter of three years. I admit there’s much more room for improvement every day. I haven’t always been the best spender, o stick with your plan.

There is no one-size fits all approach to becoming financially free. Each person’s situation is different, but in order to pay off your student loans and create an outstanding net worth, follow these steps:

1. Build relationships that matter for the long term.
2. Surround yourself with others that are achieving the same goal of financial freedom as you.
3. Have a plan, curate it, and execute it.
4. Go out and live the life that you want to live.
5. Earn additional income from the things you love. It will make it more fun and rewarding!
6. Never stop hustling.

At Millionaire Mob, helping is the core of our midwestern roots. Follow us on our journey to financial freedom. You can play along as well by following our steps to attain wealth. Millionaire Mob will keep you apprised of our goals. Are you ready to Escalate Your Life?

Author Bio: Millionaire Mob is where people come together to find the best travel deals and financial advice. We specialize in dividend growth investing, passive income, and travel hacking. Our advice has helped others travel the world and achieve financial freedom. I hope to provide the best advice to help you learn and grow along the way.