Criteria for Financial Freedom

One of the recent trends seems to be economic freedom.

The vague concept of economic freedom, YOLO (you only live once), emerged,

and in the low-interest rate, high-liquidity market environment, salaried workers who succeeded in investments are retiring early from their companies, and the concept of economic freedom is becoming more concrete with FIRE (financial independent retire early).

Life is only once!

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Achieve economic freedom and live your life to the fullest!

Let's live a life for ourselves, not for others!

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This is the life of economic freedom that many people dream of.

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If we translate the vague concept of economic freedom into an amount that replaces our salary, how much would it be?

Five hundred dollars a month, two thousand dollars a month, three thousand dollars a month?

The answer I believe is... 'It's different for everyone.'

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We don't need to follow other people's standards.

What's important is how much we think it should be.

It's important to think about it concretely.

Instead of vague numbers, think concretely.

We need to think about it in terms of fixed expenses, variable expenses, and the cost of peace of mind.

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Fixed expenses = basic utility bills, insurance premiums (+health insurance premiums), academy fees, transportation expenses, clothing expenses, food expenses, etc.,

Variable expenses = wedding gifts, parents' birthdays, health checkups, travel, and flex expenses,

Cost of peace of mind = Since we need money left over after paying for all fixed and variable expenses to have peace of mind,

we need to have a certain amount of money left over.

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These three expenses are different for everyone.

The standard amount may differ from person to person, but 'the more, the better' is

important.

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The problem is this 'the more, the better' part. To achieve that, which is always better to have more,

we have to spend too much time and effort.

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Most people fail to achieve it even after pouring in that effort.

From here on, we need a mindset of letting go.

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This mindset or state, 'letting go of greed', is

a truly 'difficult mindset' to achieve.

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Based on the mindset of letting go,

let's calculate the specific cost of

economic freedom for each of us.