Explore the World's Best Ideas
Join today and uncover 100+ curated journeys from 50+ topics. Unlock access to our mobile app with extensive features.
The financial spectrum: Level 0 - 6
- Level 0: Complete financial dependence on the kindness of strangers who have no vested interest in your success.
- Level 1: Complete financial dependence on people who want you to succeed.
- Level 2: Complete financial dependence on people with a vested interest in your financial outcome.
- Level 3: Ability to partially support yourself by adding value for others.
- Level 4: Ability to fully support yourself by adding marginal value for others.
- Level 5: Enough savings to cover run-of-the-mill problems.
- Level 6: Enough savings to cover large, unforeseen problems for a longer period.
23
185 reads
The financial spectrum: Level 7 - 11
- Level 7: Retirement savings, education savings, and avoidance of consumer and auto debt. You can see a time when your current savings will give you independence.
- Level 8: The ability to pick a job or specific customers and say no to unnecessary hassle.
- Level 9: Becoming comfortable with your social status to avoid flashing your expensive consumer goods.
- Level 10: You can say no to banks whose debt you don’t need, including mortgages.
- Level 11: You could support yourself for a year or more of your liquid savings.
23
168 reads
The financial spectrum: Level 12 - 16
- Level 12: Interest and dividends cover more than half of your living expenses because of a slim lifestyle rather than huge assets.
- Level 13: Your assets and reasonable return expectations will cover basic living expenses for longer than your life expectancy.
- Level 14: Your assets cover above-basic living expenses with assets and their reasonable return expectations.
- Level 15: Independence lets you do and say what you please since you don’t rely on the support or opportunities other people could offer.
- Level 16: Meaningful philanthropy.
23
150 reads
IDEAS CURATED BY
Maddox 's ideas are part of this journey:
Learn more about moneyandinvestments with this collection
How to develop a healthy relationship with money
How to create a budget
The impact of emotions on financial decisions
Related collections
Similar ideas
3 ideas
Financial Independence, Retire Early (FIRE) Definition
investopedia.com
5 ideas
5 Destructive Money Habits to Quit Today - Darius Foroux
dariusforoux.com
5 ideas
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates