Random musings: Financial freedom - What does it mean to you? #TBT

Thursday, July 2, 2020

Financial freedom - What does it mean to you? #TBT

Today's blog post was originally published five years ago:

Financial freedom can mean different things to different people but here are a couple of definitions that I like.

The first one is from Robert Kiyosaki. It says "Stop working and when your money runs out. that's how financially free you were". In other words, if your passive income exceeds your monthly expenses then you're financially free because you won't have to work anymore. How much are your monthly bills? Then you need that much in passive income. You don't need millions of dollars in income to be free. In fact, many people have millions of dollars in income, but it's not passive, so they're not financially free.

The other quote is from Tony Robbins. Even though it's about success it means the same thing to me.

I was going to go to a networking event in Berkeley this evening but I'm going to look at an apartment instead. It's been 10 1/2 months since I moved out of my apartment! I lived with my sister for about 2 1/2 months. That was a total disaster! Not because of her or the place we were living but because I had to drive 3 1/2 hours each way. And for the last 8 months I've been renting a room. It's ok and the owners are really nice but I miss having my own place. And then another apartment on Sunday. These places are about 60 miles from work but until I get my passive income up I need to live pretty far from the office to afford a place.

Apparently, the apartment hunting was a dismal failure according to a Facebook post I posted later that day.