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The Intricacies Of Financial Independence: Financial Independence According To Grant Sabatier

Grant Sabatier sees his condition as the ultimate aim for those who approach money in the same way he does.

Emma Veress by Emma Veress
18 March 2023
in Economy
Reading Time: 2 mins read
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What are the Steps for Being Financially Independent?

Grant Sabatier isone of the leading figuresand largest achieversin the FIRE trend (financial independence, retire early) and has gathered enough moneyto comfortably live off the income from his assets. Grant Sabatier sees his condition as the ultimate aim for those who approach money in the same way he does: not as a means of purchasing stuff, but as a method of giving you more options in how you want to live.

Grant Sabatier describes his 9-to-5 eraas “a mission-driven stage.” Sabatier’s book “Financial Freedom” provides a roadmap to financial stability that comprises seven stages of financial independence.

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What are the Steps for Being Financially Independent?

The first stage is to assess your financial status, including how much you owe,how much income you have, and what your financial goals are. “You can’t reach where you want to go unless you know where you’re starting,” GrantSabatier explains.

Secondly, you’ll want to be able to stand on your own two feet financially. This is earning enough to meet your costs without relying on outside assistance, such as donations from your parents. This is the initial step of financial independence.

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The Intricacies Of Financial Independence: Financial Independence According To Grant Sabatier

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In the third stage of financial independence,people have money left over after living costs that they may spend toward goals like saving for a rainy day or investing for retirement.

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Individuals who attain stagefour financial independence have paid off high-interest debt, like theircredit card debt, and have saved six months’ worth of living costs in an emergency fund. Putting up emergency funds helps to guarantee that unforeseen events do not derail your finances.

Stage fiveindividuals have saved at least two years’ worth of living expenses. GrantSabatier believes that with such types of savings, you may think of your wealth in terms of the time it can buy you: “You could take a year off from your work if you wanted to.”

According to GrantSabatier‘s paradigm, those who have attained financial independence (aka the sixth stage)can live exclusively on the income provided by their investments.

While people in the sixth stagemust watch portfolio swings to ensure their retirement is proceeding as planned, those in stage sevenshould have no such concerns. “Stage sevenis abundant riches, which is having more money than you’ll ever need,” GrantSabatier explains. “You don’t have to be concerned about money, and it isn’t necessary for your daily living.”

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Emma Veress

Emma Veress

Finance Writer Hello there! My name is Emma, and I'm a daily breaking news journalist covering finance, economics, and crypto on a global scale. I graduated from Eötvös Loránd University with a degree in Communication and Media Studies MA, where I gained a passion for storytelling and analysis. As a journalist, I'm dedicated to providing my readers with accurate and timely news on financial and economic events happening around the world. I believe that by delivering high-quality journalism, I can help people make informed decisions about their finances and investments.

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