Not interested in anyone's whacky comments.Back in 1990 I was informed that the figure for Financially Independent was
$70,000. Independantly Wealthy was either $100,000 or $200,000. I was just curious to knw if the figures had changed and if so, by how much?What is the figure for being declared Financially Independent? What is the figure for Indepently Wealthy?
My definition of financially independent would be slightly different than yours. My definition doesn't rely on a specific amount because costs of living vary tremendously from area to area. So do people's spending habits. After all, how do you explain P.Ditty having to pay over $7k per month to one woman for one child in child support?
At any rate, my definition: a person is financially independent when his/her passive income from investments exceeds their monthly expenses.
Independently wealthy? When a person's passive income from investments allows him/her to do anything he/she wants at any time without having to ask or worry about how much it costs.
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