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What is financial freedom?

Everything you need to know about financial freedom.

Family bakes together

According to the Investopedia, “Financial freedom is having enough savings, investments, and cash on hand to afford the lifestyle you want for yourself and your family.”

Most people may mistakenly think they need a lot of money to achieve financial freedom. But in fact, if you would like to keep a low profile lifestyle, financial freedom doesn’t require a lot of money. Most people can achieve financial freedom at retirement age through pension and government funding. One important thing to understand is that you need some less risky assets to generate the incomes to offset your expenses. Savings, bonds, dividend stocks, rental properties are some of the options. Generally speaking, if you have the same income generated by assets portfolio as your job income, and you don’t have debts, congratulations that you have achieved financial freedom.

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