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The Joys of Compounding by Gautam Baid

Achieving Financial Independence

Financial independence is essential. Saving and investing are crucial steps towards financial independence. It is attainable by anyone.

For example, Warren Buffett's business partner, Charlie Munger, was not born wealthy, but he is now rich. It should be noted that financial independence does not imply a lack of employment.

Using Munger’s life as a blueprint, one can observe a pathway toward achieving financial independence.


  • Work hard, get an education, develop valuable skills. 
  • Use that worked career and save up to ten times your living expenses. 
  • To accelerate wealth accumulation, you can take some risk and start some sort of business. You need something that scales, something that is not paid by the hour or the month. 
  • At some point, your investments will earn enough passive income to support your living expenses. This is when you achieve financial independence. It doesn’t matter what you do during the day, because you earn enough money while sleeping. 

Many people choose to continue along with one of the paths above:

(1) Employee-based career 
(2) Active business management
(3) Actively managing their investments

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Units 10/35