The Difference Between Financial Freedom and Financial Independence
By Stephen Sutherland, author of Liquid Millionaire.Posted in the Category of Wealth Building, Financial Advice on 10th April, 2009.
Tags: financial freedom, financial independence, paul sutherland.
On this website you will find frequent references to the terms Financial Freedom and Financial Independence as I offer tips and advice on achieving your financial goals, but people often have different interpretations of what these terms mean.
Today I thought I would share with you my own interpretation so that it is clear to you when reading this blog.
The FAST TRACK to Financial Independence
In our first book, The FAST TRACK to Financial Independence, my brother Paul and I explained that only 5% of the population make it to Financial Independence. We also stated that only 1% of the population become truly wealthy or Financially Free. This is what those terms mean to us:
Financial Independence - To have accumulated an amount of money so large that you are no longer influenced or controlled by others to sustain a “comfortable” lifestyle.
Financial Freedom - To have accumulated an amount of money so large that you are no longer influenced or controlled by others to sustain a “dream” lifestyle.
To keep this nice and simple, Financial Independence equals a comfortable lifestyle and Financial Freedom equals dream or ideal lifestyle.
Therefore, Financial Independence is a stepping stone towards Financial Freedom.
If you have any questions about how you can achieve Financial Freedom please contact me or one of my team for a chat. Whoever you speak to, you can be sure there will be no selling, no jargon, just the facts.
Your friend,
Stephen Sutherland
The UK’s Leading Authority in ISA Trend Investing and Author of Liquid Millionaire
