Perceptions about the financial freedom
Perceptions about the financial freedom
Maybe you've heard the term Financial Freedom. But when asked what it means, maybe you will have difficulty to give a precise definition.
Apparently there is no standard definition of Financial Freedom. The proof is when you type in the term on Wikipedia, then you are only given a definition of wealth (is an Abundance of Valuable resources or material possessions). Or you try searching the English dictionary The Merriam Webster, then you will only meet with the term freedom, which means free from the need, pressure or free to choose or act.
Here are some perceptions about the financial freedom that might exist in your mind:
The condition where you can buy anything you need, from daily living expenses to fund the desire to have expensive clothing, buying beautiful jewelry, luxury homes in the residential class, the latest car, until the most expensive vacation.
Conditions where you are free from debt, so to finance all mentioned in point 1 above you are using a debit card or check so it does not need to be in debt. So there's no bill.
A condition in which all the above mentioned you have in the state where you enjoy the retirement life, alias no longer do the work that binds like to get up early and go to the office and home from work in the afternoon through traffic jams. The condition where you can choose what time to sleep, what time is up, when to work and when to rest, because it is not confused by the binding targets.
Conditions in point 3 above, because you have a passive income from various sources, both from the work ever undertaken in the past such as writing books, composing songs, register and build networks in the MLM business, buying and renting property, own a business, to the invest your money in an investment portfolio that has a high return but the risk is small (low risk, high return investments).
A reverse condition of all the above conditions, ie you do not feel you need all that mentioned above. You think the rich man is one who at least desire and you feel quite satisfied with what you have or do.
From 2 different conditions above (items 1-4 on the one hand and point 5 on the other), I want to make this restriction to Financial Freedom. My definition is simple. Financial Freedom means "Never have trouble spending money in terms of finance, either for the normal everyday including meet our other obligations (not including debt obligations)."
you can read this article more at http://www.investorpedia.net/financial-freedom.html
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