Aloha and welcome to today’s Financial Freedom Affirmations and Visualization!!!! We are also going to talk about the important differences between Retirement and Financial Freedom.
Retirement
Retirement is when you stop working your job. At retirement, you may or may not be financially free. Most people think of retirement as spending down their 401K or IRA or spending their social security or pension.
They think of an elderly couple or person who might travel more, or garden more, pick up a new hobby and so on. They might volunteer or consult.
Retirement can be voluntary or you could get forced to retire. You may or may not be financially free when you retire. You might be dependent on your family or someone else.
You may have passive income or you may just be spending down savings. Some people pick up part time jobs to supplement their retirement income or to keep themselves busy.
Financial Freedom
Financial Freedom is when your passive income is greater than your expenses. Hence you don’t have to work anymore if you don’t want to. However, a lot of people who are financially free still work. Warren Buffet is a great example of someone who loves to work and is well in what people would consider retirement age.
You can be any age and be financially free. Some people are born financially free if their parents left them a trust fund.
If you create financial freedom for yourself, then you have the skills to invest and handle your finances. This allows you to work any job you wish as you can pay yourself.