Financial independence is the state of having sufficient personal wealth to live without needing to work actively for basic necessities. This means that an individual has enough income from investments, savings, or other sources to cover their living expenses. Achieving financial independence allows people to make choices about how they spend their time, whether that means pursuing passions, traveling, or simply enjoying leisure activities. To reach financial independence, individuals often focus on budgeting, saving, and investing wisely. This may involve creating a financial plan, reducing debt, and building a diverse portfolio of assets such as stocks, bonds, or real estate. The goal is to generate passive income that can sustain one's lifestyle without relying on a traditional job.