What is it? What is the biggest money maker? I will put it in capital letters so we always remember:
FINANCIAL EDUCATION!
The most important thing to do in order to achieve financial independence is we must literate financially. Literate is not enough actually, we must become a personal finance expert, not for others but for our own good.
Maybe, the first thing to know is how interest works. I mean how interest paid on our investment is calculated, also, equally important is how interest charge on our debts will increase the amount that we have to pay! If we invest $10,000 today get the idea of what will we get, let say, after ten years (return on investment). If we borrow $5,000 today, then how much more we have to pay if the term is 5 years.
Interest is just for beginners, when our investment grows we need to know how to calculate tax; how to minimize tax. Also, each type of investment comes with skill that need to be mastered. In short we can say that:
"The more we know about investments and personal finance the higher the chance that we will achieve financial independence!"
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