Financial freedom is achieved when one is able to live in his mean without earning an active income. In other word, one’s passive income is more than enough to support his desired lifestyle. Passive income is defined as income earned without one actively involves in the income generating activities, while active income is income earned that requires active involvement in the income generating activities. A person who is financially freed, can choose to work or not as long as he wants but still live in his desired lifestyle – [...]
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Financial security is achieved when one person’s total passive income is able to cover all his basic expenses. Passive income is defined as income earned even you don’t actively work for it, while active income is income earned that requires active involvement in the income generating activities. People who live within financial security can live the most basic lifestyle without earning an active income, for as long as he/she wants – [...] |
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