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Define Financial Freedom

How do you define financial freedom? Learn what it really means to be financially free, and how anyone can achieve it.



How do you define financial freedom? Surely everyone has a different outlook on financial freedom, but the true essence of it is ultimately the same. It is freedom from financial worries, struggles, and limitations!

I like bestselling author of Secrets of the Millionaire Mind T. Harv Eker’s definition of financial freedom...
    My definition of financial freedom is simple: it is the ability to live the lifestyle you desire without having to work or rely on anyone else for money.

What do you think, does that sound about right? Sure, having enough money to support any chosen lifestyle without having to work surely constitutes real financial freedom, and I cannot think of anyone who would not want to live life this way.

What I like about this definition is that it does not limit anyone in any way. Harv Eker said the ability to live the lifestyle you desire..., which could be different for each of us.

Many people think that financial freedom is something that comes from saving money. But while saving money has its benefits, it definitely does not guarantee financial freedom. Many people retire with a large savings, but then they are forced to budget their money.

When you are budgeting... your are not free!

The real key to financial freedom is creating multiple sources of passive income. When you create a passive income stream, it works for you endlessly. You can make money around the clock, without having to work.

It can take time and money to create passive income streams, and you may need to work a little extra to get them going. But this is the best kind of work to do because it is temporary. Once you develop enough passive income to support your chosen lifestyle, you are free.

When you develop enough passive income to support your chosen lifestyle you:
  • Are free from financial worries

  • Free from endless money struggles

  • Free from budgeting and limitations

  • Free from hard work (unless you choose to)

  • And free to live life without barriers

So basically passive income is the ticket to a truly free life.

Your job is to decide how much income you need to support the lifestyle that you truly desire, and then to choose which forms of passive income will be the most accessible to you. And there are tons of them including rental properties, coin operated vending machines, storage units, network marketing opportunities, financial investments like bonds, stocks, mutual funds, etc., and my personal favorite... a money generating website.

By choosing the sources of passive income that will work best for you, and then learning about them and pursuing them, you will be able to create the environment that will enable you to live in true financial freedom, however you define financial freedom.

And by getting started sooner rather than later, any work that you are currently doing, either with your job or in creating passive income, will be temporary. The day will come when your passive income is large enough to support your lifestyle, and then you will have achieved something that most people only dream about... Financial Freedom!

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