Financial freedom grows along a spectrum and financial independence is one point in the journey. I like to focus on growing financial freedom. Because it’s something we can all do. At each step in the journey.

You pay off some debt, your financial freedom grows.

You start investing, your financial freedom grows.

You grow the gap between your expenses and your income, and your financial freedom grows.

Each step is a win. Each month can be a win.

Financial independence is one point in the timeline. That specific point that your passive income and investments can cover your expenses.

It also means you could have FI one day and not the next. If your passive income drops sharply, or your expenses go up, you might not be FI any longer.

Even after you hit that benchmark of financial independence, your financial freedom can continue to grow.

Maybe your financial freedom grows to the point where you could care for a parent. It could grow to the point that you are able to double your giving or 10x your giving. It could keep growing so your lifestyle could radically expand. It might keep growing to the point you have 10x more than you need any given month.

This is the question you should ask at each point along the way:

How can I invest in changes that will make our life and the lives of others better?

As soon as you pay off debt, ask this.

As soon as your saving 50% of your income, ask this.

As soon as you have a years expenses saved, ask this.

As soon as your passive income covers half your bills, ask this.

When your two years out from FI, ask this.

When you hit FI, ask this.

When your FIx2, ask this.

When your FIx5, ask this.

Ask at each step. Because life doesn’t start at when you hit the point of financial independence. And FI doesn’t magically change things. You don’t magically change.

You change things with intention and action. Every step of the way, you can make your life and the life of others better.