Can a 25 Year old be Financially Free by 35?

[Michael Zuber]

I got an interesting question from a 25 Year Old the other day and I thought I would post the topic here to see what others thought of my advice and what I got right /wrong.

My first thought after hearing the question -  it is absolutely possible and in fact likely assuming a few things happen over the next 10 years.

1) You must focus on keeping your expenses low.  Where Baby Boomers and Gen X generations went wrong is we bought houses, cars and had kids in our 20's which meant we increased our expenses by a lot making financial freedom much harder and thus we had to stay in the Rat Race longer. If you can keep your expenses the same or nearly the same at 35 as they are at 25 you have taken a huge step towards financial freedom.

2) You must take action, learn your market and secure solid positive cash flow rentals or other side hustle, that are conservatively financed and allow for easy long term hold through any market cycle.

Frankly I think Millennials have a great chance at producing a record number of 35 Years that retire Financially Free as they are making life choices that for now keep expenses very low and thus allow them to get to financially freedom quicker than other generations.

What do you  think? Did I offer bad advice?

Z