Financial Freedom is, to me, a state where in you stop working for someone else, to live. Your savings and investments would sustain you and your family. Of course, if you consider the work you are doing is a slavery and you need to stop to enjoy life to fullest, then it makes sense to achieve freedom. Not everyone thinks that way though. I am, for example, in a typical situation where I don’t feel I am obligated to work. I work because I like to work. So financial freedom actually doesn’t exist for me. But I have some aspiration, wishes and some bucket lists to fulfill. So, I need to earn/save enough money to meet my goals, so I save and so I follow the path to financial freedom, even though I don’t actually need a freedom. Enjoy this guest post from my friend Peter, who is an avid blogger himself!
For majority of young adults, the most common New Year resolution is to earn financial freedom. Unfortunately they fail to achieve what they set up as a goal on the New Year day. This is because; they have vague idea about what financial freedom is all about. For most of us, financial freedom means having enough of money that enables us to spend on whatever we want. While earning a lot of income and enjoying control over expenses are important financial objectives but those cannot be a true definition of financial freedom.