Why I think a growing passive income is the key to financial freedom

For many people, achieving financial freedom is likely to be a main goal within their lifetimes. This will enable them to enjoy greater independence and, in some cases, a better quality of life.

However, a large sum of money does not necessarily lead to greater financial independence. Rather, it is the passive income it provides that can make the biggest impact on an individual’s financial outlook.

Therefore, now could be a good time to start investing in cheap dividend stocks with long-term growth potential. Over time, they could make a real difference to an investor’s quality of life.

Achieving financial freedom via a growing passive income

Building a large portfolio during a lifetime is likely to be viewed as a means of…