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Asked by Anonymous

Updated 3w ago

What does it mean to achieve financial freedom? Like is there some definition for it?

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Jansen Ng
Jansen Ng, Business Student at Ntu
Level 4. Prodigy
Updated on 02 May 2019

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. 😃

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 😋👍

2 comments

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Ignatius

02 May 2019

In short money is secondary. And quality of life is increased.
HC Tang
HC Tang

02 May 2019

Yeah. If we don't have needs or they are provided automatically by, then we don't need $ , then we can pursue something higher and more meaningful.