About PeopleJam | Ad Network | Newsroom | Interested in joining PeopleJam as a Business Partner?
Copyright 2008 PeopleJam, Inc. All Rights Reserved. Privacy Policy | Terms of use | Feedback | Newsletter
What Does "Financial Independence" Mean?
Financial independence means different things to different people. To some, it means being able to pay the bills. For others, it means being able to eat out on a whim. Yet for some, it means being able to have three vacation homes and a yacht. I define financial independence as being able to support the lifestyle you desire without having to work.
There are two important pieces to this definition. First, you need to differentiate the lifestyle you desire from your current lifestyle. This is a significant distinction. Too often, we reduce our lifestyle to fit within our means. Financial independence is not about limiting or reducing your lifestyle, but about living the life you want and having the means to support it. Second, financial independence means you don't need to work to support your lifestyle. This just means that the income generated by your assets can fully support your expenses.
Financial independence does not mean that you can't work; it simply gives you the option of working or not. Most of us want to continue working-our contribution to the world provides a sense of accomplishment and esteem.
Add To:
If you enjoyed this article, subscribe to our newsletter and we'll keep you updated with fresh new content.
That's the name of my economic mission. I wear two hats: Commander in Chief and the Special Agent who is deployed for assignments both domestic and abroad.
Operation Independence engenders the creation of passive streams of income. The central front on the road to financial freedom is Me. What am I prepared to abandon, commit to, and endure for the attainment of my sovereignty? The hour of main combat operations is crucial; time-tables, action-steps and all projections cannot fall by the wayside. Independence protects the integrity of the Corpus. Independence also serves as a means of territorial expansion (by aerial means) of global proportions.
Failure is not an option.
I'd love to hear some practical advice about how to obtain Finanical Independence.
I have some issues around 'seeing' the lifestyle I want. I don't want "things" but rather Freedom to travel, work part-time, and explore my creative self. This is not the image of financial freedom.
Most often it seems to me that usually the more you have, the more you spend, so independence is not an option.
any advice is welcome.
beth
beth |community coordinator | life coach |seeker of knowledge|
2 Comments