What is financial freedom? It’s technically defined as having the ability to cover all living expenses for the rest of your life without being employed or having to rely on others. That’s a pretty high-level definition, so what specifically does it mean to me?
Financial Freedom On A Deeper Level
I have spent many days pondering how I fit into this world and what I should do to make the most out of my short time here on earth.
Life truly is short, and everyone has different ways of interpreting this fact.
Here’s what it means to me:
- I need to experience as many new things as possible,
- I need to help as many people as possible.
At the end of the day, the amount of money we have or the amount of property we own doesn’t matter if it doesn’t help anyone else.
I mean it’s not like my bank is going to be able to make a transfer to my afterlife-fund account… So that money might as well go towards something useful.
These two factors, fueled by the urgency of life being short, are what drives me to achieve financial freedom.
If I’m not worried about providing for myself or my family, I can focus all of my money and efforts towards traveling the world, or starting a nonprofit, or funding an education system in a 3rd world country.
Another big factor is that I will be able to spend as much time with my loved ones as I want. My goal is to achieve financial freedom while my grandparents are still around to see it.
Everyone has their own purpose in life and their own reasons for achieving financial independence. There is no “right” or “wrong” reason for it.
To me, earning financial freedom is so much more than just being rich or quitting my job. It’s about living a life worth remembering and impacting the world in a positive way.
Financial Freedom Summit
This post is in response to the Financial Freedom Summit contest, but I thought it also is a good topic to have within my Hustle Young, Retire Early series.
The Financial Freedom Summit is an event hosted by FinCon that ironically takes place in my hometown of St. Louis, Missouri. This summit goes from May 1-3, 2020 and is open for anyone to attend. I encourage you to look into it if you’re at all interested in achieving Financial Freedom or getting involved with the community!
Listen to their podcast about it here to learn more: