Financial freedom and independence are colourful terms. However, they mean something different for everyone. Some feel comfortable with a minimalist way of life, others need fast sports cars and pompous real estate in order to feel “financially free”.
The basic concept of financial freedom
The basic concept of financial freedom is always the same. Everyone who strives for financial freedom must take their finances and the associated risks into their own hands. They need to decide how they can build their own sources of income independently of institutions, the state and companies.
So far, only a few private individuals have followed a strategy that slowly leads them to financial freedom. Most people spend what they earn, leaving no room for growing passive income streams.