It could come in the form of more paid time off, flex time or perhaps working remotely on occasion. Together, they are about leaving the rat race to follow your passion, or spend more time with family, and not going completely broke doing it. Freedom of time and financial independence go hand in hand. What many people desire is more flexibility with their schedules. That of course assumes you avoid increasing your lifestyle and spending it. That extra cushion can be used to move up your financial freedom date. There is an immense sense of relief when you are earning enough to save, doing the things you enjoy and still having extra at the end of the month. This is a bit more about enjoying your life and having the money to do it. Level 3: Enough to be Financially Happy and still Save Even if you are starting small, the important thing is to get started.įinancial Freedom - means having enough money to travel and still save for the future. Breaking up your financial independence goals into small chunks can help keep you on track while making the process a bit more manageable and, hopefully, a little less stressful. Planning for retirement, or even financial freedom, is a marathon and not a sprint, as the saying goes. It pains me to report that about 21% of people have zero, zilch, nada saved for retirement, according to the Northwestern Mutual's 2018 Planning & Progress Study. In fact, many people who are reading this likely are not saving enough to maintain their current standard of living during their golden years, if they retired at the age of 70.

No thank you! Realistically, most of us will not want to do the things required to retire at 30, 40 or 50. Joking aside, I actually come across a blog that promoted dumpster diving for food.

Sell all your stuff, except for a tent, and move to the woods so you will never have to pay rent or utilities again.

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