What is Financial Freedom?

Last Update: December 01, 2015

As the year rolls to an end and my job comes to an end (see A New Motivation in My Life!), I have been thinking a lot about financial freedom. I have been thinking about what I mean by financial freedom because I use the term a lot but I have not completely defined it in my mind. I think we are all looking for financial freedom and I think it is important to define what we mean, otherwise we could be exchanging one task master (a boss, job, etc.) for another (our websites). So for me financial freedom means:

  • Being able to earn enough money to support my family – no economic worries. That does not mean I need to earn a fortune, but enough to be comfortable and worry free. That would give me economic freedom.
  • Being able to earn that income from home or where ever I am, when ever I want location freedom.
  • Being able to earn it doing something meaningful to me – it should be interesting and it should be doing good for some people in the world. It should allow me to express myself. Also, Being in control of the path of the work.If I want to change direction, then I can do that. So for me that would be some sort of personal and intellectual freedom.

I think that would be financial freedom for me – being able to earn what I want, where I want and on what I want. A combination of economic, location, personal and intellectual freedom. That is what I am working for.

What does financial freedom mean to you?

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paulgoodwin Premium
That is exactly what it means to me but I would like also the ability to share with others what I want and when I want and to help those who ask to be helped - I want my family to feel safe and secure and free
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mjpd Premium
Family is so important! I feel the same.
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RichieBarone Premium
Sounds good & reasonable.
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mjpd Premium
Thanks!
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Sounds Premium
Spot on. For me its main aspect is the freedom to choose what, where and when I do something that earns the money I need to cover the lifestyle I choose to live. I am not yet there, hopefully some day though.
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mjpd Premium
Sounds so good!
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AidenTaylor Premium
Financial freedom is defined by earning enough income passively to cover expenses, so there is no need for employment or to do anything to earn money As Robert Kiyosaki (author of rich dad poor dad) said "that was the moment I became wealthy, I then built my passive income up so that I could become rich.

My thoughts are similar and this can be achieved in 2 ways, either reduce expenses so you have less to cover or earn a lot more to cover more expenses, that all depends on you, if you want to live frugally or if you want to have every material object you've always desired.
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mjpd Premium
Yes, Passive Income. That is what we want!
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JeffBoivin Premium
You are right on ! Plus a small toy an "airplane" :) Cheers !
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mjpd Premium
Wow - big dreams - goo luck achieving them.
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