Financial freedom is different for everyone

Freedom. It’s a word we all crave, but rarely stop to define.

Is it the ability to walk away from a job you hate? To spend time with the people you love? To live without fear of what tomorrow brings?

Before we talk about financial freedom, let’s ask a bigger question: when was the last time you felt free?

My moments of freedom

As I reflect on my life, these were a few moments when I felt truly free.

• Driving the Mae Hong Son Loop in Thailand with my friend David – We had no destination and no time frame. We only had our bikes, the winding open road, the beautiful views of the mountains, and the people we met along the way.
• Running an ultra-marathon – A long-distance race, no other responsibility besides getting from point A to point B, 100 miles away. No music, no distractions, just the wind blowing in my face, the sounds of birds, the beautiful colors of fall leaves as I ran through the mountains of Southern Tennessee.
• Coming home after work – Making dinner with my wife, sitting down to watch our favorite shows, and simply being together with no other worries in the world.

So, I guess I feel free when I can be present, when I don’t feel anxious or insecure. I feel free when I can be my authentic self and nothing is controlling who I am or where I go.

As you think about the moments in your life when you’ve felt most free, they may look completely different from mine, but the feeling behind them is often the same.

Freedom usually comes when we feel present, secure, and unburdened by worry or control. That’s what makes those moments powerful.

What about financial freedom?

Each of us has a different vision for life, the goals we want to achieve, the people we aspire to become, and the places we dream of exploring. These differences make our definition of financial freedom uniquely ours.

So, as we think about financial freedom, we need to understand that it isn’t a one-size-fits-all concept. What one person sees as financial freedom might look completely different for someone else, but the components required to achieve that freedom are often very similar.

5 Types of financial freedom

1. Time freedom

The ability to choose how you spend your time without being tied to a job or financial obligations.

2. Location freedom

The flexibility to live or travel wherever you want without financial constraints.

3. Debt freedom

Being free from the burden of high-interest debt or financial obligations that limit choices.

4. Choice freedom

Having the financial security to make life decisions without money being the primary barrier.

5. Peace of mind freedom

The confidence that your financial plan can handle life’s uncertainties, emergencies, retirement, healthcare.

Reading these definitions, maybe one speaks to you. Maybe they all do. The important thing is that you understand the freedom you already have and the freedom you want to attain.

The way I described financial freedom above doesn’t mean those are the only ways to view it. The beautiful thing about life is that we get to choose what we want from it. We get to shape our own version of freedom.

As you define your own version of freedom, don’t let my examples, or anyone else’s, limit you. Freedom isn’t something handed to you; it’s something you design. Look inward. Have the conversations that matters, with yourself, with your partner, and decide what you truly want your life to look like.

Because once you know what freedom means to you, the path becomes clearer. Every step, every choice, moves you closer to that vision. And that’s where the journey begins, not with numbers on a page, but with a decision in your heart.

Steps to begin your journey

1. Define your vision – What does freedom look like for you? Write it down.

2. Assess your current reality – Know your income, expenses, debt, and savings.

3. Set priorities – Which type of freedom matters most right now?

4. Build a flexible plan – Life changes, so your plan should adapt.

5. Protect your progress – Insurance, emergency funds, and estate planning matter.

6. Invest with purpose – Align investments with your goals, not trends.

As a financial advisor, I am here to help you define your financial freedom, create a plan to acquire that freedom, and take the steps with you needed to execute the plan.