What is financial independence?

1 January, 2006 at 8:25 pm · Filed under thoughts

Different people have different definition for financial independence. In the simplest sense, it means to have sufficient income to self-support. Some might add “comfortable” to self-support. For some, “self” includes family – parent, spouse, children.

What does financial independence mean here?
For the purpose of this project/exercise, the target will be set the range of $1000 to $2000 (that is US dollars). That is, by the end of 2006, the target is to achieve this amount of online income. This may not necessary be “comfortable” but certainly “livable” in my part of the world.

Why this target?
Having been online for a fair amount of time, I figured that this is a fair target. While not really much in the absolute sense, it certainly require some hard work to achieve this amount of online revenue.

What to make out of those programs out there with claims of 5-figures income?
To be honest I have no idea. The proliferation of such programs does make this project looks like kid’s play.
There might be some element of truth in them. But personally, I am not willing to part with my cash to enrich the sellers. I believe such programs play on the simple psychology that people are willing to risk a small amount to buy a hope of much larger return. However many such small amount adds up to a hansome return for the seller.

That said, I am open to ideas and will try and report their effectiveness here. I am at the same time an old hand and also a newbie. Any information, comments and suggestions will be received with an open but informed mind.

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