In our office we have a big team which works on a personal finance software – which failed and has been scrapped (update on 10th July, 2018)
So the kids in that team keep asking what is financial freedom?
My answer is simple, and here it is:
1. Largely, if you can laugh a lot about your financial mistakes, you may have reached a position of financial freedom!
2. If you can do what you want to do, rather than what you must, you may have reached a position of financial freedom!
3. The freedom of when to get up, is financial freedom.
4. If you can dress as you like, you are financially free.
5. If you can choose not to go to a meeting at a time when the whole world will be heading in that direction, you are financially free.
6. If you can decide to be able to speak the truth – and not have to tell everybody “it is a pleasure to meet you” and can choose to tell ONLY when it is a pleasure, you must be financially free!
A client defined success as follows: “When you are 80 years old, can sleep well and wake up rested, laugh a lot, and be sure that you can walk into any room without worrying about somebody saying “this guy did me in”, you are successful”.
I think it is a good definition of success, and I think this also defines financial freedom – immaterial of at what age it comes.
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