Financial independence is the state of having enough personal wealth to live without needing to work actively for basic necessities. This means that an individual can cover their living expenses through investments, savings, or passive income sources, rather than relying on a traditional job. Achieving this status allows for greater freedom in lifestyle choices and the ability to pursue personal interests. To reach financial independence, individuals often focus on budgeting, saving, and investing wisely. Strategies may include building an emergency fund, paying off debt, and contributing to retirement accounts like 401(k)s or IRAs. The goal is to create a sustainable financial plan that supports long-term security and freedom.