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Anonymous

09 Dec 2024

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Adulting

What is financial security to you? Have you reached it yet?

Would saving your emergency funds count as having financial security?

Discussion (15)

What are your thoughts?

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Financial security to me is having enough money to live all my obligations without worry for when the next pay cheque will come.

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Different from Financial Abundance, where I can spend extravagantly without worry.

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Emergency funds are not a financial security for me because they end somewhere. So monthly passive income is security because it is not supposed to run out.

  1. Shelter and food secured; i.e. mortgage fully paid or rent can cover
  2. The option not to work for an indefinite period of time

Financial security is a state when one has financial resources to cover both current and future expenses without significant strain in the chosen lifestyle.

Yes, emergency funds are part of achieving financial security.

I think it varies for everyone. For me, I think financial security in the short term is having my emergency funds and insurance settled, and having enough cashflow for my day to day expenditure with sufficient buffer. For long term, it is having enough financial assets to meet my life goals and having the ability to chose to not work if I do not wish to.

Varies for people to people. I do not have a fixed amount but slowing down career wise; not aiming t...

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