# What does financial freedom mean to you?



## richard (Jun 20, 2013)

Hey everyone, I'm curious about what you would do if you didn't have to worry about paying bills... let's say you were earning about as much as you do now to twice as much, you could work only when you want and take whatever time off you want. What would you do on an ordinary day, when you aren't busy taking a round-the-world cruise?

Second question, how old are you?


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## sags (May 15, 2010)

I don't do anything. I sometimes feel like I should be doing something, but can't find anything that I want to do..............so I do nothing.

65 and retired. Even if I had double the money I would still do nothing. 

I don't know why people think they have to be doing something. 

I must admit though, sometimes I do enjoy watching other people doing something.


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## Davis (Nov 11, 2014)

50, and retired on Thursday. So far, it is glorious. I feel so relaxed already. All those work problems that my stupid brain was always working on in the background while I was doing other stuff are now someone else's problem. It's not just that I don't have to do anything about them, it used also that I can't. (It would be weird if the retired guy started phoning people to talk about work.) I have been laughing spontaneously whenever I remember that I have crossed the finish line, and my timer is now my own. I now have more time to care for my demented mother, travel, see friends, read, exercise....

And I actually liked the job. I will miss the people I worked with, but I don't want so much of time and energy consumed by this activity now that I have achieved financial freedom.


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## cainvest (May 1, 2013)

I'm financially free (don't worry about paying bills) but continue to work as I enjoy it. I have lots of free time (holidays) to spend on a number of hobbies I like. As an example of an ordinary day, yesterday's weather was nice so I took the afternoon off, loaded up the dirt bike for the first time this year and went trail riding for 6 hours ... great fun and excellent exercise, though I am a little sore today.  So basically I'm very close to doing what I want, when I want, though sometimes I do have work deadlines I must meet which can limit my free time.


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## DollaWine (Aug 4, 2015)

Congrats on the early retirement Davis. What was your field of work?

Financial freedom to me is being able to wake up and choose to do what you want to do without being restricted by how much money you have or having to worry about how much something costs. If you want it, you can have it (within reason of course). That will be a great day when it comes. I imagine when that happens, my idea of "doing things" will be continuing to workout, attend a lot of sporting events (season tickets), traveling every 3-6 months, and probably doing some type of part-time/volunteer work, whether it's coaching a kid's sports team or something else related to recreation. 

I'm 23.


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## Beaver101 (Nov 14, 2011)

sags said:


> I don't do anything. I sometimes feel like I should be doing something, but can't find anything that I want to do..............so I do nothing.
> 
> 65 and retired. Even if I had double the money I would still do nothing.
> 
> ...


 ... so how long have you been doing this nothing or just enjoy watching other people doing something? Not that there is anything wrong with your kind of "re-tirement" but don't you get bored and if so, how do you handle this? Just curious.


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## lonewolf (Jun 12, 2012)

richard said:


> Hey everyone, I'm curious about what you would do if you didn't have to worry about paying bills... let's say you were earning about as much as you do now to twice as much, you could work only when you want and take whatever time off you want. What would you do on an ordinary day, when you aren't busy taking a round-the-world cruise?
> 
> Second question, how old are you?


 Would have to keep doing what I have been doing. Being creative to bring in money by doing things I enjoyed such as investing or jobs that I loved doing. I would do things that I loved doing while keeping costs down.

The formula cant really change no one really has the freedom to spend beyond certain limits or can make beyond a certain limit. I try to find  within those limits. (everything in the universe is in limited supply) 55yr


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## mars (Mar 11, 2014)

Technically I'm not retired, just in between jobs, but I have been enjoying my time not going to the office every day. I like that I can go to the gym during the day and not be rushed so I can get to work or rush there after work and then have to quickly work out before heading home and making dinner. Having the flexibility to go at any time allows me to choose slower periods to go get in a workout as well. I am also taking Spanish lessons. I went down to the Dominican for a week just a couple weeks ago and soaked up the sun and enjoyed the pool and a few drinks, even practiced my Spanish. I meet up with friends for lunch, some who work and some who don't. Lunch with those who are not working are great as they are very relaxed and no rushing back to the office or sitting around talking about work problems. I've had time to take care of the yard work, read books and articles online, try a few new recipes that take time to make. The best part is just being able to decide what I want to do and when. There is no rushing or stressing over anything. I guess I have also had to look for a job now and again, but I don't let that stress me either. I'm currently 49, and the big reason I haven't let looking for a job stress me is I have also been contemplating just packing it in and not going back to work. I don't quite have enough saved to live on what I currently have invested, however, if I sell my house and move to a lower cost area I could probably do it. I have checked out housing prices in a few areas so know what to expect to purchase somewhere else and I have a general idea what I could get for my house. In order to make the final decision I would need to firm up what I could get for my current house and then I would know for sure if I have enough to retire.


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## tygrus (Mar 13, 2012)

sags said:


> I don't do anything. I sometimes feel like I should be doing something, but can't find anything that I want to do..............so I do nothing.


This is me too. Although I farm now, I am trained as an engineer and would love to do all sorts of projects.

Unfortunately, they always involve a boss playing political games to his own advantage, so I choose not to participate in that.


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## birdman (Feb 12, 2013)

Age 70 (married) and retired at 55. Have lots to do, particularly sports (skiing, badminton fishing, hunting, hiking), travel, and chores around the house. The nice thing is that I don't "have" to do any of them and I always save something for tomorrow. Can have a snooze, cook a nice dinner, go out with or have friends over, and on and on it goes. Gotta love it. Oh, I also watch BNN and follow CMF.


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## LBCfan (Jan 13, 2011)

67, retired ar 58. FF means I can do whatever I want, whenever I want for any reason I want. My favourite time of the week is Monday morning, watching my neighbours go to work.


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## Causalien (Apr 4, 2009)

Wake up, go to the gym and get that out of the way. Then get back to binge doing whatever it was that I was binge doing. TV, projects or whatever fancy.

Baaically, I find out that I do not have to multi task in a day. So instead of work and spread out something I want to do over 5 days for 1 hour each. I get to spend a whole day on it.


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## Eclectic12 (Oct 20, 2010)

sags said:


> I don't do anything. I sometimes feel like I should be doing something, but can't find anything that I want to do..............so I do nothing ... I must admit though, sometimes I do enjoy watching other people doing something.


Isn't watching others "doing something"?


Returning to the OPs question ... I would go on more Habitat trips to build houses around the world, visit relatives more often, read more books ... basically whatever interested me at the time.

Since I people watch at times, I suspect I'd do that sometimes too! :biggrin:



Cheers


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## sags (May 15, 2010)

I think the combination of retirement and renting made me lazy............


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## pwm (Jan 19, 2012)

Age 66, retired 11 years. What does financial freedom mean to me? It's not about all the things I want to do now, but the things I don't have to do. 
Specifically that means I don't have to drag myself into a job where I'm told what to do by people I don't respect, and who don't respect me. Never again will someone tell me "Yo boy, go clean up that mess!"


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## spirit (May 9, 2009)

http://wwwb.autotrader.ca/a/Lexus/L..._BS2004826105311/?showcpo=ShowCPO&orup=4_15_8


The ability to actually consider buying something like this for my sweetie (; But he already has a nice car.


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## My Own Advisor (Sep 24, 2012)

It means largely doing what I want to do, when I want to do it and not doing something _because I have to_. 

Financial freedom provides some freedom of choice. With the freedom of choice comes empowerment.


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## Eclectic12 (Oct 20, 2010)

pwm said:


> ... retired 11 years. What does financial freedom mean to me? It's not about all the things I want to do now, but the things I don't have to do ...


I have a mixed reaction to this. OOH, I can empathise with avoiding silly politics and cleaning up other's mess, which in my case, can include biting my tongue on "you were warned".
OTOH, it seems kind of - I don't know, stuck in a rut to see this as number one.

Maybe it's because I have so many interests that I won't have time to dwell on the silliness when the list of things I want to do are so long. :biggrin:


To each their own ...


Cheers


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## Brian K (Jan 29, 2011)

60 and retired at 54. Fortunately no money issues and all the bills get paid and there is money left at the end of the month - and not month left at the end of the money.
What I appreciate every day:
1) not getting up at 6, and sitting at my desk at 7 waiting to attend endless meetings that accomplished nothing other than telling others what I haven't yet done for them.
2) thinking about what I will do today. I generally plan on doing 1 thing, and know that other things will come up to fill the day.
3) knowing my job now is taking care of my wants and needs rather than listening to others telling me what they want and need (see #1).
4) No more buzz words and phrases - like 'reach out', and other things HR and politically correct types seem to love.
5) Doing what I want.

I like fixing things. Found a front load washer on Kijiji for $40 that was making a horrible noise. It was a quarter stuck in the drain pump. I didn't refund the quarter so it was only $39.75 and no GST.


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## sags (May 15, 2010)

spirit said:


> http://wwwb.autotrader.ca/a/Lexus/L..._BS2004826105311/?showcpo=ShowCPO&orup=4_15_8
> 
> 
> The ability to actually consider buying something like this for my sweetie (; But he already has a nice car.


 :biggrin: :biggrin: :biggrin:..........lucky guy


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## pwm (Jan 19, 2012)

Brian K wrote: _ No more buzz words and phrases - like 'reach out', and other things HR and politically correct types seem to love._

So true! I'll never have to listen to some jackass talking about "looking at the problem from 20,000 feet" then "drilling down to the root of the problem", and "partner with our stakeholders to leverage new synergies". 

As soon as a VP would spout such drivel it was no time until all the managers were mimicking him. Just like little pups sniffing the big dog's but hole.


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## djkelly (Feb 18, 2016)

Financial freedom to me means having enough cash flow that you can do whatever you want especially at a moments notice. (I want to go sit on a patio today.) I would probably still do what I do for 'work' because I find the work rewarding, I'd just take a lot more days off and be more blunt. (You can cut to the heart of matters more quickly when you're not wanting to get paid. You have to screw up pretty bad to be fired as a volunteer.)


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## redsgomarching (Mar 6, 2016)

financial freedom for me would to be able to live off investment income. i.e 1 mill in investments that generate atleast 5% income/cash flow for me to use. ends up being 50k per year.


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## richard (Jun 20, 2013)

mars said:


> I don't quite have enough saved to live on what I currently have invested, however, if I sell my house and move to a lower cost area I could probably do it. I have checked out housing prices in a few areas so know what to expect to purchase somewhere else and I have a general idea what I could get for my house. In order to make the final decision I would need to firm up what I could get for my current house and then I would know for sure if I have enough to retire.


Interesting - have you considered doing any work on the side to bring up your income and make this easier?


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## richard (Jun 20, 2013)

Brian K said:


> I like fixing things. Found a front load washer on Kijiji for $40 that was making a horrible noise. It was a quarter stuck in the drain pump. I didn't refund the quarter so it was only $39.75 and no GST.


I'll bet you could get a good income out of buying couches, cleaning out the change, and selling them


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## OnlyMyOpinion (Sep 1, 2013)

Or scrapped cars: Lost in the Seat Cushions, There’s $100 Million in Spare Change


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## LBCfan (Jan 13, 2011)

Brian K said:


> No more buzz words and phrases - like 'reach out', and other things HR and politically correct types seem to love.


I loved this. At one meeting (just before I told everyone I was retiring), I suggested everyone "push the envelope outside the box".


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## kcowan (Jul 1, 2010)

I find the idea of getting shaved, showered, dressed and out by 8 am totally revulsive. I will not even go to the dentist before 11. These charity breakfasts at 9 am are the ultimate sacrifice! Wine and magarita socials at 6 pm are no problem though. I do morning walks with my Romeo group 3 times a week at 9 but that is my commitment to 10000 steps a day with some socializing. Shaving and showering optional.


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## mars (Mar 11, 2014)

richard said:


> Interesting - have you considered doing any work on the side to bring up your income and make this easier?


Hi Richard, I could pick up part time work to supplement income. However, I've decided once I leave the work force I want to leave the work force if you understand what I'm trying to say. By picking up part time work I will not be able to do what I want when I want as I would always have that work commitment. I'm not too far off my target amount I need to be able to leave work for good. A couple of things I have looked at is I could work for another 1 to 2 years, get fortunate with a couple of stock picks (none in mind at the moment but cash waiting to be deployed), or one of the properties I was looking at to purchase upon sale of my current house is a duplex. So having a duplex I could generate the extra income from renting out the part of the house I am not living in. The only thing with the idea of the duplex is I was looking at letting my mother and sister use it rent free. They currently rent and I was thinking I could help them out a little by giving them a free place to live. We shall see how it goes.


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## My Own Advisor (Sep 24, 2012)

redsgomarching said:


> financial freedom for me would to be able to live off investment income. i.e 1 mill in investments that generate atleast 5% income/cash flow for me to use. ends up being 50k per year.


I hear you.

I figure $1M invested, plus our paid off home (5-6 years), plus some small pensions should do it.


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## gibor365 (Apr 1, 2011)

My Own Advisor said:


> I hear you.
> 
> I figure $1M invested, plus our paid off home (5-6 years), plus some small pensions should do it.


From my calcs $1.5M, no debt, no mortgage, plus "some small pensions" , plus CPP at 60 and OAS at 67 should do it...

I'm 50, still working, will retire at 55, unless will get laid off and package earlier...



> What would you do on an ordinary day, when you aren't busy taking a round-the-world cruise?


 Would go to gym for 2-2.5 hours every day, would like to learn another language (learning Spanish right now, but don't have too much available time), would read book/listen to audiobooks (have a huge list of those ) . Would like to learn to cook some fancy stuff 
At some point going to have grandkids and spend time with them


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## atrp2biz (Sep 22, 2010)

I think we've achieved financial freedom but my wife doesn't think so. We're mid-thirties, so there are lots of things to do.

-participate in more of kids' school activities
-have more kids :eek2:
-more golf
-more hockey
-bicycle across the country
-learn my mother tongue (I can't even communicate with my grandmother--it's embarrassing)
-create/support a non-profit
-be a semi-silent business partner


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## gibor365 (Apr 1, 2011)

> I think we've achieved financial freedom but my wife doesn't think so


 somehow similar situation  , my wife is 9 years younger than me and on peak of her carrier lol



> -more hockey


 was thinking about it too couple of years ago when played adults house league, now my joints don't allow this game 



> learn my mother tongue (I can't even communicate with my grandmother--it's embarrassing)


 embarrassing not for you, but your parents  . I made sure my kids can speak and even read my grandmothers' language


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## noobs (Sep 27, 2015)

FF to me like most means being able to do anything I want, go anywhere I want with no to little restrictions. 
If I had no debt and had double my income, I`d take care of my family first and then travel around the world, learn and experience new things


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## cannew (Jun 19, 2011)

74 and thankfully found Connolly Report when I was struggling to invest successfully (actually un-successfully). With no company pension the prospect did not look rosy, but I can look back to what worked for me. 

To answer the question, it means we are free to live life without financial worries and focus on doing what we enjoy, travel or just stay home and relax. We can indulge ourselves (though basically we bargain hunt) and not worry about rising costs, inflation in general or the current market conditions.

Oh, and we can express our opinions without worrying what others think (because we know what worked for us in achieving financial security).


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