FINANCIAL FREEDOM VS. FINANCIAL INDEPENDENCE
Many people use the terms financial freedom and financial independence interchangeably, but they don’t mean the same thing – and to truly work toward freedom, it’s important to know the difference.
Financial independence hinges on the key word “independence.” It’s the ability to meet your own financial needs without relying on anyone else. When you’re financially independent, you have a steady source of income, pay all of your bills yourself (including any debts like student loans or a mortgage) and have some money in savings. You may even start investing. But you’re not yet financially free.
Financial independence is an essential first step to financial freedom, but it isn’t the end game.
Financial freedom is a long-term plan to build the life of your dreams. As Tony Robbins says, “Success is doing what you want to do, when you want, where you want, with whom you want, as much as you want.” That’s also financial freedom.
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WHO I AM: I’m Deepak Kumar, I love to share what I learn through my journey of learning “Finance” I am commerce graduate and very passionate about investing, personal finance, passive income, and financial freedom,
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