financial freedom is when one is able to completely stop working , even do nothing all day, and yet can afford to support the same accustomed lifestyle
Mr X is an executive in a big company, lives in a mansion in a posh subd, updated sa newest gadgets, ang gara ng car,member sa clubs, always on overseas vacations, earns 6 digits monthly yet spends more than he earns for mortgages, credit card payments to support his lifestyle
Mr Y is an employee of the same company earns barely 5 digits a month but saves at least 30% of his income for investment, lives in a small friendly subd, lives simply and well below his means, his car is 5year old corolla, just the basic needs and goes on vacation just once in a while
The company closed unexpectedly leaving Mr X and Y both jobless, after 1 yr Mr X sold his car, gadgets and gave up his house, while Mr Y continued living simply and has enough for years to come
Who is financially free?