Friday, February 26, 2010  On Financial Freedom  Just some
thoughts on this term “financial freedom” that has become a much
coveted goal in life popularized by Robert Kiyosaki in Rich Dad
Poor Dad. Btw apparently Kiyosaki was never as rich as he
proclaimed. He got rich after selling his book. Well, some of
his ideas are refreshing though.  What is the definition of
financial freedom?  I guess to most people, it would be having
enough money in your bank to last a lifetime living the same
quality of life and thus having the freedom to choose not to
work for money.  In the first ever post on this blog, we worked
out this amount is probably slightly more than half a million
dollars for a conservative guy and $3mn for someone more
aspiring. And this amount is highly unreachable with normal jobs
since annual salary is about $30,000 to $40,000 on average in
developed countries. (Well actually it’s doable given enough
time: like 30 years, as we shall see but that defeats the
purpose I guess :)  Hence there is a need