This post is part of a 30-day series called the 30 Steps Program to Financial Independence.

STEP 7: INVEST

The aim of financial independence is to have enough income generated from investments so you don’t need to return to a traditional job. The key to achieving this is smart investing.

Remember, I’m not a financial advisor, just sharing my experiences. You can invest in almost anything. Personally, I do a quick calculation and follow my instincts. For instance, I’ve bought two apartments. One I sold for double its value after nine years of receiving rental income, and the other one, with three bedrooms, is currently rented out to three different tenants.

I also have some unconventional investments like cattle and coconuts. Investing in live cattle is actually quite beneficial, as a cow can produce another cow every 18 months. Not many investments can double so quickly. Though the full calculation is more complex, my arrangement provides a solid return.

With the coconuts, I hire a management company that takes care of the crops, handles sales, and deposits my earnings every three months in exchange for part of the harvest.

Investing can be daunting for beginners, so I strongly recommend seeking professional advice. It might be expensive but it’s cheaper than losing your savings to a scam.

Depending on your age, savings, and risk tolerance, you should choose the right type of investment for you. The stock market averages a 9% yearly return, but it’s essential to commit long-term or you might end up losing money.

Always think carefully before investing, and maintain an emergency fund to avoid withdrawing investments at a loss.

Your investments will support your lifestyle during financial independence. A financial advisor can help project when you’ll reach your goals and how much you need to invest.