The Spectrum of Financial Dependence and Independence - Deepstash

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COLLABORATIVEFUND

The Spectrum of Financial Dependence and Independence

The Spectrum of Financial Dependence and Independence

collaborativefund.com

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charlie munger

I did not intend to get rich. I just wanted to get independent.

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...

  • 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 hassl...

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 exp...

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