How to Be Financially Free Despite Inflation | 629

Financial independence and financial freedom are two different things, and with the right mindset and discipline, you can achieve both. You don’t have to be dirt cheap, you don’t have to keep on saving, you just need to have to think the right way and invest in the right things.

Key Talking Points of the Episode

[01:22] Invest with preREO!
[02:14] What is the difference between financial independence and financial freedom?
[03:55] How do you achieve financial independence?
[04:38] How much do you need to make to achieve financial independence?
[05:20] What happens with your money in mutual funds?
[06:45] Does the 4% rule really work?
[07:30] Do you need to live cheap to be financially free?
[08:32] Why is 3% better than the 4% rule?
[09:28] How can you make the most out of saving when you’re younger?
[10:53] How do alternative investments work?
[12:09] Why are alternative investments better than mutual funds?
[13:34] How flexible can alternative investments be?
[14:39] What kind of investments have the most growth potential?
[15:25] Why is it important to have an abundance mindset?
[18:36] What does it really take to become financially free?
[19:31] Why do you need a purpose for the money you’re making?

Quotables

“You gotta know what your monthly expenses are. If you don’t know this number, it’s gonna be vague, it’s not gonna work.”

“I think that if you wanna be financially independent truly, and this is based on today’s dollars, you need to hit your monthly expenses plus 10%.”

“For many of us, unless you’re single, $60K a year isn’t really much anymore, is it? It’s really not enough to feel free, that’s for sure.”