Financial freedom – what is it? The question appears straightforward. But once you delve deeper, you'll discover that there isn't a precise definition for the term "financial independence."

Is it not having to rely on others to satisfy your financial needs?
Or having enough money to pay your living expenses for the rest of your life without having to work?
Or is it accumulating a nest egg that allows you to safely withdraw 4-6% of your retirement account each year?

There is no one answer that works for everyone because each person must establish their own financial and lifestyle objectives. Financial freedom is about making progress toward achieving these objectives.

For each person, financial freedom or independence looks different.

The notion that you must be wealthy to be financially independent is among the biggest myths. This assumption is not only false, but also prevents people from beginning their journey toward financial freedom.

Many people who have achieved financial independence lead basic or modest lives that allow them to maximize their financial condition without having access to boundless riches. Additionally, becoming debt-free does not depend on reaching a certain financial milestone.

Because of this, financial security reflects the person. It takes into account your aspirations, your way of life now and in the future, as well as your objectives for work and retirement.

That tired quote from a motivational speaker goes, "If I can do it, so can you." Financial independence could be unattainable for the rest of a person's existence due to impassable challenges.

Thinking about concepts like financial independence is a luxury when one's ability to survive is in jeopardy. However, it's unlikely that anyone reading this post is in that state of complete futility. The truth is that everyone has a unique set of challenges. Some of these barriers may only be overcome by collective efforts, and different life circumstances demand different priorities.

Being deliberate with your money — how you earn it, how you save it, and how you spend it — is at the heart of achieving financial independence.

What does financial freedom mean to you?

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^{I am not a financial adviser. This article is not meant to be financial advice. My articles on cryptos, precious metals, and money share my personal opinion, experiences, and general information on cryptos, precious metals, and money.}

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