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O Money, Where Art Thou?
Two ways I believe true financial freedom can be achieved
There are two categories of people in this world — the Rich and the Rest of the World
In my view, 99.9% of the population in this world do not have true financial freedom. What do I mean by ‘true’? Well, first we have to define ‘financial freedom’.
Generally, financial freedom is deemed to be achieved when 1) one’s assets are greater than one’s liabilities, and when 2) one’s (recurring) income stream is greater than one’s (recurring) expense and 3) the aforementioned recurring income stream should be in the form of passive income (though there may be varying levels of ‘passive’).
What then, is true financial freedom? To me, it is all of the above conditions fulfilled in addition to being sufficiently rich (I use this word loosely here) such that money becomes almost insignificant. This simply means that on a day to day basis, and in the long-term, money is no longer a concern to the individual.
From how I see it, there are mainly two ways to be truly financially free.
