My definition of Financial Freedom

Is being financial freedom means that you have to reach the level of living like those billionaires; owning a island in Dubai, having few luxury or sports car, or able to travel around world? I don't think so and you don't have to. You can be an engineer now and achieve financial freedom in less than 15 or 20 years from now.

To me, financial freedom means you can enjoy your living, pursue your interest without having worried on the money issue. For example, you can go for a job that suits your interest and strengths, rather than the job that give you the highest pay. In this case, you can be the master of your life and your money, rather than letting the money to become the master of you and your life.

Here are my definition of financial freedom:

• Debt-free: NO outstanding credit card bills, NO loans, NO mortgage and etc
• Enough fund for emergency: Life is full of unexpectation, you must allocate some money for this purpose.
• Good coverage for retirement: After almost half of century of work, it's time for relax and enjoy. So, you need to have good coverage for your comfortable retirement life.
• Passive income for investment: Your investment must be able to provide you a continuous stream of income.
  
• Option of not to work: You can choose not to work anytime if you wish to, without worried of meeting the monthly payment or expenses.

So, if you wish to attain financial freedom in 15 years from now, you must have a good planning as soon as possible, to let you have a clarity of mind and control of your personal finances.

Here are the two useful links I found during my information searching. Hopefully, these will enlighten you in your view of wealth and financial freedom:

• Financial Freedom - How to Get it!
• Financial Freedom Strategy: Debt free and Prosperous Living