Financial Freedom is a concept you will see mentioned a lot throughout the Retired by Choice website. If you Google the term Financial Freedom you get over 42 million results! Obviously there is a lot of interest in the topic. But what exactly is Financial Freedom?
The short answer is: there is no set definition of Financial Freedom. It means different things to different people. To some it might mean having so much money you could dive into it, just like Uncle Scrooge! To others it may mean having enough to buy everything they could ever want. To others it might mean never having to think about money. Ask 10 people to define Financial Freedom and I bet you’d get 10 different definitions.
To me, Financial Freedom means being free to live my life as I choose without having to worry about my financial situation. My worth is defined by who I am and what I do, not by how much I have. Time, especially having the time to do as I choose, is much more valuable to me than money.
That is my definition, formed after much reflection over many years, and it has had a profound impact on my life. As you read Retired by Choice you will see these principles constantly reinforced. When I write about Financial Freedom that is what I am talking about.
Now that you know where I am coming from, what is more important to you is to develop your own definition of Financial Freedom that works for you. Give it some thought. What is most important to you? How do you want to live your life? How does money fit into those areas?
The definition you come up with, whatever that may be, is the right one for you. Once you know what Financial Freedom means you can begin to take the steps to achieve it if that is your goal.
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