KCLau.com Financial freedom is definitely not a myth. Although it remains as a dream for most people who are still struggling and running in their own rat race, financial freedom is just a state when some numbers are met. The good news is that every one of us has different set of numbers to meet. It is commonly known that when the passive income is more than enough to cover the required expenses, you are financially free. Based on this formula alone, it is enough to show that FF can be achieved in many different ways. Passive income = expenses You can either reduce your expenses or increase your passive income. The problem is most of us can’t compromise on a lower spending. If you sell all your stuff such as house, vehicles and all other belongings, you are almost financially free if you are a single working adult. Move to a place where everything is still cheap, and you are okay to live cheap and stay cheap, you got your financial freedom almost instantly. Look at the formula again. On the other hand, it seems more fun to have a high passive income level that enables you to afford a more luxurious lifestyle. Isn’t that most people are chasing after in their rat race? Besides measuring FF with your passive income, which most people don’t have, you can also measure FF in terms of “time”. The formula works this way – calculate how much money you had accumulated, and divide it by the monthly required expenses to sustain your lifestyle. That number represents how many months …
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Question by Jason the juggernaught: my parents are against my financial independence?
Ok I am 15 and I want to pay for all of my expenses (food, utilities, ect.) Because, for me, it is a matter of honor to be able to support myself. I have the resources because after school, I trade in the stock market and I am doing well bringing in about $ 1,200 a month. However, my parents say they want to support me until I am 18. Therefore, my q is what should I do or what would you do in my place? Becuase I am tired of being a free-loader
On the other hand, am I off my rocker (honestly?)
Best answer:
Answer by momofoneandhalf
Keep “free loading” for now or until you are old enough to get a real job. Just remember that one day your parents are going to get old and then they will be “free loading” off of you. See how that works, they raise you and in return you are there for them when they need you to be when they get to be older.
Know better? Leave your own answer in the comments!
