Do people need to have a certain amount of money to achieve financial freedom?

[Kross]

When it comes to financial freedom, it gets confusing about what it really entails.

Is there a certain amount of money that one needs to have to attend financial freedom?

If so, how much should one have to attain financial freedom?

 

[Augusta]

Well, you need to have good amount of money to claim being financially free. But for me I prefer having good amount of assets along the money to be financially free

 

[itsmejob]

If we want to claim we are financially free, we must have more amount of money. The amount of money should covered many years even if we don't have work or we don't work.

 

[neku]

Even after saving a certain amount of money, if a person has a powerful government employee or company as their enemy, it is difficult to lead a normal life, since the powerful are ruthless in harassing.

 

[pousinha]

how much should one have to attain financial freedom?

The amount strongly depends on one's spending habits. People who want a luxury life at whatever cost, must have a huge amount to cover all their expenses. On the other hand, people who get the downshifting lifestyle habits, if they don't need to spend too much into drugs and doctor, only need a small amount.

 

[Suba]

Everyone's financial freedom conditions will be different, even though the principles are the same, such as you can do anything without having to be hampered by financial problems and you must also be free from debt. You can also calculate how much money you need to achieve financial freedom using the annual expenditure formula approach divided by the return after deducting the inflation rate in your country.

 

[Hate2Wait]

I guess yes because if you don't have the required amount of money to pay your bills and to enjoy luxuries then you cannot call it financial freedom.

 

[itsmejob]

I guess yes because if you don't have the required amount of money to pay your bills and to enjoy luxuries then you cannot call it financial freedom.

It is called suicide if that is the case. We don't want to be in trouble doing luxurious lifestyle. Our lifestyle should reflect that we are financially free.

 

[Hate2Wait]

We need money for our survival and there is nothing wrong if we like to enjoy certain luxuries of life as once even smartphones were a thing owned by rich so if we can do things in a controlled manner then its not suicidal

 

[magnus2022]

Financial freedom have nothing to do with how much you have! Financial freedom simply means ability to meet up with your financial responsibilities. If you can pay your bills and have time for yourself, i think you are financially independent.

 

[Hate2Wait]

If you don't know how much you have or have money just to pay your bills then you won't be financially independent and still need to make so many adjustments

 

[Springtime]

Yes, we do need to have a certain amount of money to be financially free. How much we need depends on your lifestyle. If you live luxury life, you need to have a lot of money and assets. For me, I just want a simple and peaceful like. If I own a house/apartment, no worry to pay for my bills, have the ability to buy something I want, can travel once in a while, have enough savings for emergency use, then I consider myself financially free.

 

[AruneBend]

Well I think it depends on your expectations really some people might need a lot more then the others

 

[eLdavis]

I believe financial freedom is different for everyone. Though you need to have a certain amount of money that you feel is comfortable for you before you can actually say you are financially stable, or having freedom.

 

[King Belieal]

Financial freedom simply means having the highest lifestyle you desire without having to be cautious of your finances running down. All you need are combined sources that can give you $10,000 every month or two. And you have time too. That way, you are financially free.

 

[itsmejob]

We need money for our survival and there is nothing wrong if we like to enjoy certain luxuries of life as once even smartphones were a thing owned by rich so if we can do things in a controlled manner then its not suicidal

No, what I mean was if we say people are living financially free, then they should have the amount of money that can sustain them even without working day job. Or doing extra business. Apologies if I used "suicide" to describe it -- it is like hitting his own head with a stone to die. I don't know if I am making any sense.

 

[pousinha]

Yes, we do need to have a certain amount of money to be financially free. How much we need depends on your lifestyle. If you live luxury life, you need to have a lot of money and assets. For me, I just want a simple and peaceful like. If I own a house/apartment, no worry to pay for my bills, have the ability to buy something I want, can travel once in a while, have enough savings for emergency use, then I consider myself financially free.

Yes, dear friend, that's the point: when we are free of debts and we don't need to constantly live on the charity of our relatives/friends/neighbors, we can consider we are financially free (there are people who call this lifestyle financial independence, while they say financial freedom means we don't need to work any more). Well, I can say for me the financial independence is enough to be glad.

 

[Starmix]

If you have a good source of passive income like building rental, stocks trading, good savings and a business that gives you million profits in a year plus your lifestyle is controlled. When the right time comes you can live in financial freedom having the money to work for you.

 

[King Belieal]

There is a certain net worth that you would have complemented robust financial structures, one would just know that you have achieved financial freedom.

 

[freelancermaria]

To attain financial independence, we must accumulate a substantial amount of wealth. Establishing investments and a secure business is also indispensable for long-term survival. Let’s be prepared, as we cannot predict what the future holds.