How can you define financial independence? A million dollars? 2 million? Ten? One Billion dollars? What’s the magic number that defines such freedom? And just what does reaching time mean for you personally?
Financial Freedom-everybody wants it. But couple of understand exactly what it is. Merriam-Webster dictionary defines freedom as “the lack of necessity, coercion, or constraint in choice or action” or as “liberation from slavery or restraint from the strength of another.” I believe this gives a lot of understanding of this is of monetary freedom. Out of this, we discover freedom isn’t a number. Financial freedom doesn’t have a concrete meaning of tens of millions of dollars, for instance. In the definitions above, we are able to state that financial freedom is the lack of financial constraint in choice or action, or even the liberation in the restraint from the strength of money.
Ok, to ensure that sounds pretty official, what will it mean? I’ve heard it stated that “Cash is the main of evils.” First, we have to realize that cash is bad or evil. It’s just a kind of currency to get the things we want. Before money was produced people bartered products or services to switch for which they needed. So, their products or services were currency the way in which cash is today. How much money we’ve determines the quantity and excellence of products or services we be capable of obtain. When an individual has an earnings that removes cost like a consideration for which they purchase, they’ve arrived at a place where choices can be created without restriction.
While financial freedom is an excellent factor to see along with a very effective goal, remember, that financial freedom doesn’t equal happiness.