Defining Financial Freedom

I pondered for a long while what financial freedom really is. Technically it means reaching a state when you have enough money to live the life you want and money itself is no longer a constrain. Mathematically, it means to generate enough passive income (income that is generated for you without the need for your active involvement) to cover your expenses. Simple as that.

The formula is simple, the tough part is really fitting that formula into my life and my future. It is only when you can clearly describe how you would be like and how your future would be like, that you can really start filling up the variables to the formula.

Financial freedom is only meaningful when it is taken into context of your life and future. Now, as I work towards my financial goals, I am certain that I am getting closer to my financial freedom, because I have already defined it.