In order to become financially independent, you first need to fully understand what that means. Financial Independence means that you are not reliant on trading your time for money (that you need to live your life).
Often nowadays, when you hear this term, the goal is more to retire years earlier than the standard age of 65, and have the ability to live out the rest of your life without the need of income from full-time employment.
An important step of becoming financially independent is understanding the difference between income and wealth. Income is the amount of money you earn for a specific time period, while wealth is the total amount of money that you’re currently holding.
In order to be able to retire early, you’ll need to amass wealth. Without a steady income from a job, your money will have to come from other sources like savings, investment portfolios, rental properties, etc.