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HC Tang
07 Jun 2019
Financial Enthusiast, Budgeting at The Society
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Jansen Ng
02 May 2019
Business Student at Ntu
Hey, I kinda like this list of stages by Investment Moats. From this, they define financial independence as when your passive input cash flow is greater than your current expense. (inflow > normal outflow)
Financial freedom is when inflow > normal outflow + few more life goals
But need not get too tight on definitions and all. Set your own standards;p
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Means one only spend limited small amount of time to manage an auto streams of income ($ working for you ) to cover all your usual expense without the need for you to go actively spend most of your time working in exchange for $ which in exchange for daily needs of life.
Basically able to do what your want or don't do anything daily because you have this $ generating engine working for you to cover rentals /
Installments and daily needs. π
Haha. F.I.R.E (Financial Independence Retire Early) is the new movement these days but what one do with his/her own free time so that life is meaningful is up to each individual ππ