What Does Financial Freedom Mean to You?
There is a contingent of people obsessed with personal finance who have branded themselves as FI / RE, a shorthand for financial independence and early retirement. They have slashed their day to day living expenses by actively earning and investing, all with the intention of retiring well before the average retirement age (62). For them, saving is more enjoyable and rewarding than a big house, dining out, and a lavish vacation.
It is a mentality that intrigues me, although I do not share it. For me, financial independence means having enough so that I would be comfortable leaving a stable job, if I so want my children to live a comfortable life, and that my (and their life) will not depend on the whims of some opaque company. …
It also means that I will not rely on a partner to provide me (if you are a woman, I highly recommend this thing , which made a splash a few years ago and reveals one of the reasons why it is so important to know what is happening with your money). So the first step is to create my “Fuck Off Fund” (continuous work under development) and continue from there.
Being financially independent doesn’t mean everything will be easy, and I will never have to worry about money again. But I want to be my own boss and do everything on my own terms. The only way I can do this, other than winning the lottery, is to focus some energy on saving and investing my money wisely. This is why I find it helpful to do things like trying a financial detox and setting financial goals . For me, not working for someone else my entire life is the encouragement I need to cut some (but obviously not all) expenses. Tricks alone won’t make me financially independent, but it’s all a learning process.
No, I’m not sure that this is possible – anything can happen, but nevertheless, you need to strive for it. Maybe you have such a goal – what is it? What does financial freedom mean to you?