Financial freedom is not about getting rich quickly. It is about taking control of your finances and reducing financial stress from your life.
There is no “one-size-fits-all” formula to achieve financial freedom. For ease of understanding, let’s divide our lives into “Earning Age” and “Retirement Age”.
In absence of an adequate social security umbrella, retirement is a more serious problem than most people think. Most retirees finish off their retirement savings quite early and depend on their children or close relatives for financial needs.
During the Earning Age you go through various life events like buying a house, children’s education, family lifestyle maintenance, children’s marriage funds, holidays, pursuing your passion, etc.
Financial decisions across your life cycle can cause tremendous anxiety and stress either due to insufficient savings or erosion in the value of saved money due to inflation.