|
[VIEWED 3889
TIMES]
|
SAVE! for ease of future access.
|
|
|
|
fi_nepali
Please log in to subscribe to fi_nepali's postings.
Posted on 01-16-17 9:51
PM
Reply
[Subscribe]
|
Login in to Rate this Post:
0 
? 
|
| |
As a nepali what are your views on financial independence? Me personally, I define financial independence as: 1. Spending less than I earn 2. Avoiding buying stuff with money I don't have. No Debt 3. 12 month emergency fund 4. 401k, IRA etc max out 5. Retire by the age of 40
|
| |
|
|
|
|
GeetMaiJawaafDiu?
Please log in to subscribe to GeetMaiJawaafDiu?'s postings.
Posted on 01-16-17 11:12
PM [Snapshot: 54]
Reply
[Subscribe]
|
| Login in to Rate this Post:
0
?
|
| |
A financial goal is different from financial independence. Your point #5 sounds like financial independence. The rest are short or long term financial goals.
My understanding of "financial independence" is that you have enough income to cover your living expenses whether you work or not [irrespective of nationality, Nepali, in your case]. Financial independence does not necessarily mean no debt. Surprising, right? I know. 
Being financially free can be achieved at any age. It usually is at any age above 21.
|
| |
|
|
ujl
Please log in to subscribe to ujl's postings.
Posted on 01-16-17 11:53
PM [Snapshot: 96]
Reply
[Subscribe]
|
| Login in to Rate this Post:
0
?
|
| |
A simple equation: Financial Independence (FI) = [Mind (M) - Capital (K)] / Life (L) or, FI = (M - K)/L or, FI * L = M - K ( Explanation: When Life is multiplied with financial freedom, it is equal to a mind which is free from all kinds desires related to wealth)
|
| |
|
|
fi_nepali
Please log in to subscribe to fi_nepali's postings.
Posted on 01-17-17 6:17
AM [Snapshot: 227]
Reply
[Subscribe]
|
| Login in to Rate this Post:
0
?
|
| |
Agreed that Points 1 to 4 are financial goals. However, I think those goals make it easier to achieve financial independence. I disagree regarding debt, but i think everyone defines independence differently. .
|
| |
|
|
