![]() ![]() Focus on the things in life that are important to you and understand the level of income needed to attain them. To achieve financial freedom, you need to know what you’re working toward. ![]() When money isn’t an obstacle, you’re free to live. It’s as simple as buying the things you want without worrying about your bank account or sending your kids to college with no concerns about the burden of tuition. The other side of a financial freedom plan is the freedom to live the lifestyle you want, without financial barriers. How much money is coming in? How much is going out? Where is it all going? The Freedom to Live Your Life Thinking about your life in terms of cash flow is a great way to see freedom from a financial perspective. And every investment is liable to appreciate, instead of depreciate like most consumer goods. Every new job or promotion adds more to the income side of your personal balance sheet. The key is realizing the importance of every dollar.įinancial Freedom Investment U Conference 2022: Day 3 RecapĮvery extra dollar you use to pay down debt is a day closer to living debt-free. At this point, financial freedom can seem a long way off. As we start a family, we accrue more expenses. An entry-level job barely pays enough to live paycheck to paycheck. We have student loans fresh out of college, a car payment and, soon, a mortgage that’ll stick with us for 30 years. These things take time, patience and discipline. But that means reaching some lofty goals like investing in the stock market, real estate or business ventures. It’s called “financial freedom” for a reason! The cornerstone of being financially free is having a personal balance sheet with little or no debt, plenty of assets and liquid capital. Financial Freedom From a Fiscal Perspective Here’s your guide to financial freedom, from learning what it really means to the steps required to achieve it. It takes a lot of smart decision-making, self-control and hard work to become financially free. When you aren’t burdened by debt and have enough income to live independent of a paycheck, you’re financially free. ![]() The core premise of financial freedom is the same: Having the fiscal stability to live the life you want. Listen to the audio version of this article: These are all examples of financial freedom, to a degree. Passive income so you never have to go to your day job. Ask anyone if they want financial freedom and the answer is sure to be a resounding “Yes!” But what is financial freedom, really? Depending on who you are, it can mean different things. ![]()
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