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Freedom is a subjective term, what do they mean?
Freedom's just another word for nothing left to lose
Money makes money.
Feedback loop concentrates the money towards those with more money.
What is YOUR definition of financial freedom?
My definition is:
Ability to pay all expenses, including things like sudden repairs, medical payments, job loss for up to 6 months, etc with minimal impact to quality of life.
Ability to partake in moderate luxuries such as travel, dining out, new phone/TV/etc every so often. Does not mean you have enough to always buy whatever you want, but have enough to have some extra enjoyment.
Ability to take care of 1-2 children including education, day care, medical, activities, etc
Just based on the healthcare component alone, I don't think it's feasible for Americans to be financially free until they hit the millions. Otherwise, if you ignore that aspect I'd say its around the mid level executive type of income or about ~$300-600k year depending on location. If it's just moderate financial stability, then it's maybe only $90-200k, but I don't think I'd call that level 'free'
The article is really bad and confusing, but the very first statistics says only 10% are living with their defined financial freedom. ~~It also doesn't appear to provide any sources for this data.~~
edit: They do have sources, I'm just blind.
Dog I've been lying flat since I figured out the world wasn't how I imagined it. I'm so stuck in my lack of freedom I'm like not even in the top 10 decision makers in my own life.
Sobering post