

21. What is Financial Freedom and Are You There Yet?
11 snips Jun 1, 2021
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Post-Economic Anecdote
- Sam Parr, on the "My First Million" podcast, was asked about his net worth.
- He replied, "I'm post-economic," implying money doesn't affect his decisions.
Financial Freedom as a Tool
- Financial freedom is having money as a tool to do what you want.
- Define your wants, then determine the money needed, avoiding lifestyle inflation.
The 4% Rule
- Calculate your "retirement number" using the 4% rule.
- Invest wisely to withdraw 4% annually, covering your expenses indefinitely.