Stress is such a toxic thing. It physically effects your mind and body, and the idea of taking financial steps to minimize stress is so important! Great video!
So true! Honestly, isn't that what this is all about? Finding peace. Freedom of choice. Sleeping well at night. Having time to find and pursue a passion. It's all of that! The opposite of stress. :)
This is the most important subject you’ve covered. It’s about your “why” - why do you want FF? What’s the reward from the hard work? Unless you solve that you won’t be able to stay the path. Works with anything in life like work, relationships, etc. Thanks for this
Hey young man you make alot of sense. I thoroughly enjoyed the video because the bible ALWAYS tells us to strive for PEACE. Sometimes while going through the motions of striving for becoming debt free, we are not experiencing peace of mind but a stressful state of mind. I appreciate all of the content of this video. Thanks. I posted it on my Facebook page and I'm gonna it that bell to subscribe.
Thank you Lisa. I really like how you put that. Money is 90% money, and only 10% math. Mastering the mindset is critical. It's how you can live "rich" even when you're not rich yet. It's how you can find peace and motivation, no matter where you stand.
I appreciate the note. Super glad to hear it helped. Enjoy the journey. It’s the best part 👍 I have a few other mindset type videos I think you’d enjoy if you like this one. I recommend how to spend without feeling guilty and the how much saved by age one is a damaging exercise for starters. Best of luck Tyre!
Totally agree. Once you are past the money life is really nice. What I mean is exactly what you have described. Living life based on the value and cost vs the price is so true. People who are fixated on price or who are thinking too much about reducing and contracting with no real plan to eventually grow and expand have no idea what they are missing. I am not totally there yet, but I am in a place where I have found that freedom and now I am building from here... It's getting better every day, month and year!
This is a great explanation of the difference between Financial Independence and Financial Freedom. So I guess I'm Financially Independent, but am still working towards mastering Financial Freedom. Awesome video here,. Just liked and subscribed 👍 and added it to my watch list to watch again a few times.
Thanks for sharing Rob and congrats on achieving FI! I'm in the opposite boat. I feel freedom but years from independence. It's the journey on your path to both that matters most. :)
Love it. The opposite could occur too as another commenter pointed out to me. As long as you're running towards something - that's the key! Either way, enjoy the journey which is the best part :)
I totally enjoyed your message and perspective here. I think the difference between financial freedom and independence isn’t discussed enough. Thank you!
Wow thanks for that note Rahul. So good to hear. I've started making a handful of "Money Mindset" videos lately - really enjoy the topic. There's a playlist even. I have another thought-provoking one coming Thursday! 🙌
"Financial Stewardship" - Experience the FREEDOM of turning your Finances over to God. You are right. Financial freedom is a mindset and differentiating between FI & FF is important. Thank you xxx
I found financial freedom when i listed out every major expenses I'd like: house, electric car, electric motorcycle, new guitar, etc. Only totaled 90k (except for the home)
Thanks Frankie - this helped me wind down and chill a bit after my day at work! 😁 Really enjoyed hearing your thoughts on financial freedom. I think it's helpful to hear other people's opinions and how they perceive something, maybe in a different way - a bit like a fresh pair of eyes to give you a boost or new ideas 😊
Glad it helped! Totally. There are many different perspectives out there on the topic but this is one that spoke to me. Love tying in value and cost rather than being so fixated on price and numbers. Have a great weekend!
You can certainly continue to do that! There are many definitions out there. I just wanted to share what I found because I found it interesting and encouraging :)
"Saving 20% is not enough" I totally disagree, it totally depends. Examples include - What is your expenses? What age do you start saving? What are your investment returns? Do you have a spouse who helps you turbo charge your financial situation (tax breaks, support, etc)? I actually would wager 20% is a pretty good amount for most people who wish to live a balanced life.
Hi Waren - thanks for sharing. I'm not going to disagree with you. Saving ANY money is fantastic. I'm just here to try to encourage and motivate people to do the best they can do. Saving 20% puts you right around the top 10% of people in the US. Maybe even 5%! Thanks for watching :)
@@TheMoneyResolution Thanks for the response. Just one addition to my point about 20%. For the typical person, I think that is achievable, but still could be hard given cost of living, raising families, etc. But I'd rather give people an achievable goal than something so far out of reach (for day more than 99% in th this country), like 50%, where the goal actually becomes a discouragement. BTW I personally know people who track FIRE wonderfully using the 20%. Granted, some luck plays in this (profitable investments, meeting the right partner in life, etc), so does planning and dedication (save early, really watch spending, etc)...yet, they are able to balance an enjoyful, balanced life ( plenty of travel, comfortable homes, etc).
Please tell us more about purpose, finding it and providing value and how do you know when you have provided value. Also please tell us your journey, how did it get you to where you are? Looking back on it, did you subconsciously follow your purpose and provide value without really thinking about it in the aspects of which you have spoken of in this video? This is my first time here and I watched it 3 times
Thanks Christina! Yes, I've shared my story a few times on different videos - but I'm not totally sure the best one to direct you to. I guess you'll need to watch them all? I'm kidding :) I have a financial independence retire early playlist. That's probably the best place to hear more on the topic. Regarding purpose - if this is mine, yes, it pretty much found me. I changed my financial life in one year and decided it was worth sharing and turning into a self-published book ("The Money Resolution" on Amazon). The response was positive so I kept going with RUclips and a second book. It wasn't until I started talking a lot about early retirement that I found a great audience here. Next, I'm hoping to turn this into a business (I just launched my first online course www.themoneyresolution.com) and eventually share how I did it all so people can also escape their unfulfilling 9-5 jobs and chase their dreams/purpose/passions. Hope that helps. I really appreciate that you watched it 3 times!! Let me know what you think on other video comments too if you watch more. Questions and comments like yours help inspire future videos.
Thanks Susan! Yes - do it if you can. You can save thousands of dollars (if not 10s of thousands of dollars) in the end if you make just ONE extra payment a year. Or take on a 15-year mortgage instead of 30 if possible! :)
I felt this is another jargon. I feel there is no difference between financial freedom and independence. Also your rule of 25x maybe valid in your country. But it's not universal.
Its semantics. FI is nothing new. 50 years ago, it was called living below your means and put away something for tomorrow.... Its the same concept today except DIY has become common place.
I don't disagree. I came across LOTS of different definitions. I simply chose to speak about one that resonated with me. DIY definitely is commonplace no doubt! That's certainly how I got started!
![Quando Rondo - Grow Up [Official Music Video]](http://i.ytimg.com/vi/8zFnCg3BO4Q/mqdefault.jpg)
Stress is such a toxic thing. It physically effects your mind and body, and the idea of taking financial steps to minimize stress is so important! Great video!
So true! Honestly, isn't that what this is all about? Finding peace. Freedom of choice. Sleeping well at night. Having time to find and pursue a passion. It's all of that! The opposite of stress. :)
This is the most important subject you’ve covered. It’s about your “why” - why do you want FF? What’s the reward from the hard work? Unless you solve that you won’t be able to stay the path. Works with anything in life like work, relationships, etc. Thanks for this
Totally! Not sure if you've seen my new video "My Why of FI" but check that out if you haven't :) (or maybe you meant to comment on that one lol)
@@TheMoneyResolution thanks! As long as you saw my comment it doesn’t matter :)
Hey young man you make alot of sense. I thoroughly enjoyed the video because the bible ALWAYS tells us to strive for PEACE. Sometimes while going through the motions of striving for becoming debt free, we are not experiencing peace of mind but a stressful state of mind. I appreciate all of the content of this video. Thanks. I posted it on my Facebook page and I'm gonna it that bell to subscribe.
Thank you Lisa. I really like how you put that. Money is 90% money, and only 10% math. Mastering the mindset is critical. It's how you can live "rich" even when you're not rich yet. It's how you can find peace and motivation, no matter where you stand.
Thanks man, I was running around stressing my self out on my path towards freedom until I saw this video. Thank you so much🙏🙏🙏
I appreciate the note. Super glad to hear it helped. Enjoy the journey. It’s the best part 👍 I have a few other mindset type videos I think you’d enjoy if you like this one. I recommend how to spend without feeling guilty and the how much saved by age one is a damaging exercise for starters. Best of luck Tyre!
@@TheMoneyResolution thank you!
Totally agree. Once you are past the money life is really nice. What I mean is exactly what you have described. Living life based on the value and cost vs the price is so true. People who are fixated on price or who are thinking too much about reducing and contracting with no real plan to eventually grow and expand have no idea what they are missing. I am not totally there yet, but I am in a place where I have found that freedom and now I am building from here... It's getting better every day, month and year!
Gradually, then suddenly. You're on your way. Keep it up!!
Great info here. My definition of Financial Freedom is having passive income that exceeds your needs (lvl1), wants (lvl2) and more (lvl3).
That's a fantastic way of looking at it. Thanks for sharing Arianne!
Never thought of this difference.
This is a great explanation of the difference between Financial Independence and Financial Freedom. So I guess I'm Financially Independent, but am still working towards mastering Financial Freedom. Awesome video here,. Just liked and subscribed 👍 and added it to my watch list to watch again a few times.
Thanks for sharing Rob and congrats on achieving FI! I'm in the opposite boat. I feel freedom but years from independence. It's the journey on your path to both that matters most. :)
Love your videos! Binge watching now
Thanks Sophie! Let me know if you have a favorite or a topic idea :)
This is absolute gold - totally love this explanation of financial freedom. Sensational video
Thanks Adam! I remember having a lot of fun organizing my thoughts on this :)
Cool take on things. I guess we're trying to achieve financial freedom on the journey towards financial independence.
Love it. The opposite could occur too as another commenter pointed out to me. As long as you're running towards something - that's the key! Either way, enjoy the journey which is the best part :)
Great suggestions! This is such an important topic to be discussing, I really enjoyed the video!
Wow, thanks Reece! I obviously agree :) Thanks for watching!
I totally enjoyed your message and perspective here. I think the difference between financial freedom and independence isn’t discussed enough. Thank you!
I really appreciate that. The feedback is super useful. Tricky video to pull together so I'm glad it resonated with you 👍
Such an amazing video.... Completely changed the view of life and psychology of money 💵💰
Wow thanks for that note Rahul. So good to hear. I've started making a handful of "Money Mindset" videos lately - really enjoy the topic. There's a playlist even. I have another thought-provoking one coming Thursday! 🙌
"Financial Stewardship" - Experience the FREEDOM of turning your Finances over to God. You are right. Financial freedom is a mindset and differentiating between FI & FF is important. Thank you xxx
I'm glad you enjoyed it! Thanks for watching!
Jingle idea
Playing with your money, can make you feel kinda funny..... What you need is a plan, Frankie is your man!
Amazing!! Film it and send to me and I'll include it in an upcoming video Steve! 🙌 YOU the man!
Really love your take on these things, a nice fresh perspective to keep us motivated!
I really appreciate that Nosilla. That keeps ME motivated to keep making more videos :)
Beautiful....I fully agree with yours views and is quite encouraging 👍👍👍
Thanks for the note Aditya! Happy to hear! 🙌
I found financial freedom when i listed out every major expenses I'd like: house, electric car, electric motorcycle, new guitar, etc. Only totaled 90k (except for the home)
It's all about taking the time to actually fully know your expenses. Nice job!
Thanks Frankie - this helped me wind down and chill a bit after my day at work! 😁 Really enjoyed hearing your thoughts on financial freedom. I think it's helpful to hear other people's opinions and how they perceive something, maybe in a different way - a bit like a fresh pair of eyes to give you a boost or new ideas 😊
Glad it helped! Totally. There are many different perspectives out there on the topic but this is one that spoke to me. Love tying in value and cost rather than being so fixated on price and numbers. Have a great weekend!
@@TheMoneyResolution Totally agree - you've got to have a balanced mindset or you'll likely just give up. Thanks :) you too!
Financial freedom in my opinion is being debt free and being able to do things without having to think so much about how to fund your fun.
Love it. I don't think I addressed debt directly but I couldn't agree more! Thanks for watching!!
Fantastic content! Keep pumping out videos like this and I suspect you'll hit 100k subs by summer 2021.
Thank you Angela! I'd be thrilled with 5K 🙈
thank you for sharing, I really havent thought about the difference. I used them interchangeable as well.
You can certainly continue to do that! There are many definitions out there. I just wanted to share what I found because I found it interesting and encouraging :)
@@TheMoneyResolution Yes I like listening to other perspectives. Thank yoi for sharing!
"Saving 20% is not enough" I totally disagree, it totally depends. Examples include - What is your expenses? What age do you start saving? What are your investment returns? Do you have a spouse who helps you turbo charge your financial situation (tax breaks, support, etc)? I actually would wager 20% is a pretty good amount for most people who wish to live a balanced life.
Hi Waren - thanks for sharing. I'm not going to disagree with you. Saving ANY money is fantastic. I'm just here to try to encourage and motivate people to do the best they can do. Saving 20% puts you right around the top 10% of people in the US. Maybe even 5%! Thanks for watching :)
@@TheMoneyResolution Thanks for the response. Just one addition to my point about 20%. For the typical person, I think that is achievable, but still could be hard given cost of living, raising families, etc. But I'd rather give people an achievable goal than something so far out of reach (for day more than 99% in th this country), like 50%, where the goal actually becomes a discouragement.
BTW I personally know people who track FIRE wonderfully using the 20%. Granted, some luck plays in this (profitable investments, meeting the right partner in life, etc), so does planning and dedication (save early, really watch spending, etc)...yet, they are able to balance an enjoyful, balanced life ( plenty of travel, comfortable homes, etc).
Love the content. Congrats on getting monetised
Thanks Shireen! I'm just super happy anybody will watch my thoughts on the importance of financial education :)
Please tell us more about purpose, finding it and providing value and how do you know when you have provided value. Also please tell us your journey, how did it get you to where you are? Looking back on it, did you subconsciously follow your purpose and provide value without really thinking about it in the aspects of which you have spoken of in this video? This is my first time here and I watched it 3 times
Thanks Christina! Yes, I've shared my story a few times on different videos - but I'm not totally sure the best one to direct you to. I guess you'll need to watch them all? I'm kidding :) I have a financial independence retire early playlist. That's probably the best place to hear more on the topic. Regarding purpose - if this is mine, yes, it pretty much found me. I changed my financial life in one year and decided it was worth sharing and turning into a self-published book ("The Money Resolution" on Amazon). The response was positive so I kept going with RUclips and a second book. It wasn't until I started talking a lot about early retirement that I found a great audience here. Next, I'm hoping to turn this into a business (I just launched my first online course www.themoneyresolution.com) and eventually share how I did it all so people can also escape their unfulfilling 9-5 jobs and chase their dreams/purpose/passions. Hope that helps. I really appreciate that you watched it 3 times!! Let me know what you think on other video comments too if you watch more. Questions and comments like yours help inspire future videos.
@@TheMoneyResolution your content sounds to be something I was looking for. Subscribed!
🙌
Fab video. Where do stand in terms on overpaying a mortgage? Thanks Sue
Thanks Susan! Yes - do it if you can. You can save thousands of dollars (if not 10s of thousands of dollars) in the end if you make just ONE extra payment a year. Or take on a 15-year mortgage instead of 30 if possible! :)
Great video thanks!
Super appreciated. Thanks for checking it out! 👍
Cool video 💪..very interesting ideas.
Thanks Griso! 💪
Where does the 25 come from in the calculation? If I have 17 years left to retire, but would love to be able to do that in 10 years.
The 4% rule. It's the inverse of that.
I felt this is another jargon. I feel there is no difference between financial freedom and independence. Also your rule of 25x maybe valid in your country. But it's not universal.
I appreciate the feedback Nachiket! It's very useful. I'll work on more clarity in the future. Hopefully some of my other videos resonate more 👌
Its semantics. FI is nothing new. 50 years ago, it was called living below your means and put away something for tomorrow.... Its the same concept today except DIY has become common place.
I don't disagree. I came across LOTS of different definitions. I simply chose to speak about one that resonated with me. DIY definitely is commonplace no doubt! That's certainly how I got started!