Thoughts about Financial Freedom part II

Read also: My thoughts on Financial freedom.


Financial freedom is defined as having the passive income so that you do not have to work or can choose to work to sustain your current needs and lifestyle. The key word is PASSIVE. This is usually the case when one invest sufficiently in businesses and have enough savings to generate a hefty sum of interest from bank or whichever source (ok... 'hefty' is pretty subjective here).


As I thought about financial freedom, I have these questions popping into my head:


Is it possible to achieve financial freedom in Singapore on retirement by relying on our good o' CPF and good o' HDB flats?
Aiyo... retirement age is getting older and older. Resale HDB lease expiry getting nearer and nearer.
At least the minimum sum in CPF is getting higher and higher. 
Let's bang on the high interest rate there shall we? Provided our daddy doesn't change policy...


Can we really achieve financial freedom through investing? 
Then we won't have to wait till the gov-dictated retirement age...provided we don't lose our capital and our pants.


How much money do we need for maintaining financial freedom now or into the future, factoring in yearly inflations?
My goal post kept moving and maths sucks, so how?


What would be a realistic time frame to set for ourselves?
We always thought we need to plan ahead, yet there are so many unforeseeable factors in life. What we plan for today may not be what we need or desire tomorrow.



To some people, the journey to financial freedom is to work very very hard for many years, invest smartly and diligently, then choose to rest and be lazy later on in life.


On the other hand, the non-believers would retort "Aiya stop worrying and thinking so much lah. We should just enjoy what life throws at us. Life is short so YOLO!". Spend the money, have fun, go back to work when it runs out and then repeat the process.



Whether FF or YOLO is the right path? 

I guess it is whichever that makes us happier before we kick the bucket?

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