Many people yearn to get rich. They envy the lifestyle of the rich and famous people. They watch the ways the rich and famous spend money, and they try to get some of these items for themselves.
For example, when they see their idols use a branded handbag, they will get one for themselves too. Yet they are afraid to tell the whole world I want to be rich, as if this is a forbidden sentence.
Right now we have financial freedom as a substitution for the word rich. I want financial freedom sounds more acceptable than I want to be rich.
What is financial freedom?
Financial freedom means you are no longer a slave of money. You do not need to work for money. You have enough money to enjoy your life. You can choose to continue working once you have financial freedom. You can choose to work for personal satisfaction, and not for money.
Financial freedom means you are not enslave to the bank. You no longer fear the bank foreclosing on your house or car. You have the means to pay off all your debts whenever you want.
You choose to take on debt so that you have more money for investment. You choose to buy more properties using the banker's money. It is not as if you do not have enough money. You have more than enough money to survive. You have financial freedom. The debt you assume is for investment purpose.
Financial freedom means more than just debt free. You may pay off the mortgages and credit card debt, but you are not financially free yet. You have to save enough money to last you for the rest of your life before you reach the goal of financial freedom.
Financial freedom means you and your family have enough money to pay for all expenses until you leave the world permanently. You do not have to worry about financing tertiary education for your children, because you have financial freedom.
Some people are fortunate enough have rich parents. They have financial freedom the moment the minute they are born. They have financial freedom provided they do not misuse the money.
You may not have such luxury. You may have to work hard and save hard for thirty years of your working life before you reach the goal of financial freedom. Most people reach the goal of financially free by the time they reach retirement.
Financial freedom does not mean you are rich. You will not make it to the list of billionaires just because you are financially free. Financial freedom means you have enough money to survive without working. It does not mean you are the richest person in the world.
