I mention financial independence and retirement as if they are two different things, and to me, they are. Financial independence is the point in which I no longer need to work to survive since my investments can cover my living expenses. With financial independence, I can still choose to work if I want to; it also gives me the independence to do work that I'm passionate about, without having to worry whether my salary can support my family. On the other hand, retirement is quitting the workforce and no longer working.
For me, my goal is to reach financial independence ASAP and aim to retire by the age of 56 in 2041. I still have a while to go before retirement, but I'm hoping to quickly get to the point where my passive income can cover all my expenses so that I don't need to worry about supporting my family in case I get laid off (God forbid).
For purposes of my "Passive Income Coverage" posts, I will only consider my dividend income and rental income.
Below are my dividends and rental income for 2017: