Financial Freedom vs. Retirement

What does financial freedom mean to you? In this episode I explore my thoughts on personal finance and financial freedom. Below I have included a few questions to get the conversation started. Do you compare yourself to others? Are you on the path toward financial freedom? Do you know how to calculate financial freedom? Do you know the lifestyle you want? Are you building your financial house? www.businessfinanceandsoul.com  If you enjoy Business, Finance and Soul, please leave a 5 star review!   Based on the 4% rule, you are financially free for life once a 4% annual withdrawal of your investments can cover your annual expenditures. The formula's application is straightforward: to calculate your Financial Freedom Number, you multiply your annual expenditures by 25. The first step is to figure out what you spent in the last 12 months and decide if that's a reasonable amount and if you are happy with the life those expenditures produced. Additionally, you want to think about possible variables such as, do you have kids yet? Do you want kids? Will they go to public or private school and anything else that could disrupt and increase your spending. You don't want to be too conservative with your target goal.