Part 3/10:
Over the years, I have realized that passive or residual income is central to achieving financial freedom. Passive income models include things like royalties from creative work or investments that generate returns without continuous effort. For instance, an artist who produces music receives royalties whenever their songs are played, creating a flow of income independent of their active participation.
Financial freedom, in my perspective, is subjective and varies for each person. For me, it's about accumulating enough income to cover basic living costs without having to wait until retirement. Therefore, my goal is to curate a plan that allows me to enjoy financial independence sooner.