There are three key components to the mechanics of wealth.
1) Financial Security- Is when we’ve created passive income that covers half of our food, housing, cars, travel & basic entertainment.
2) Financial independence- Is when we’ve created passive income that covers all of our monthly expenses.
3) Financial Freedom- Is when we have created passive income that is at least twice our monthly expenses.
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4 comments to ““What is Financial Freedom?””
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edy - June 1, 2015 at 1:29 pm
Very great definitions of Financial security, independence and freedom.
What I know is that Financial freedom will feed you for the rest of your life when stop working. Pretty close to your statement above 🙂
Cole Aubertine - December 18, 2015 at 12:00 pm
Take action now
Warren Savery - December 21, 2015 at 3:30 am
Thanks for finally writing about “What is Financial Freedom?” | Freedom Creator Loved it!
Brian - January 1, 2016 at 12:24 am
Warren so glad this was of value to you look forward to connecting soon