7 Stages of Financial Freedom

Financial freedom isn't a destination. It's a journey. And in this video, I'll take you through the seven stages of financial freedom so you can start your own journey today.

Timecodes:

0:00 - Intro
1:19 - Stage 1
2:14 - Stage 2
3:20 - Stage 3
4:08 - Stage 4
5:30 - Stage 5
6:55 - Stage 6
8:18 - Stage 7

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LINKS:

DISCLAIMER: I am not a financial adviser. These videos are for educational and entertainment purposes only. I am merely sharing my personal opinion. Please seek professional help when needed.

[dannytetreault]

Stage 1: Emergency Fund $1, 000 in savings
Stage 2: Pay off all debts except for mortgage (use snowball method)
Stage 3: Save 3-6 months of emergency savings
Stage 4: have one years of expenses saved/invested (F.U. Money)
Stage 5: Five years of annual expenses saved/invested
Stage 6: Ten years of annual expenses
Stage 7: 25x your annual expenses (4% rule)
Thx, Danny.

[Mr._Du]

34 years old and I just hit stage 6. I have about 11x my annual expenses saved. Onward to 25x!

[buildingbuildercip]

Back in 1996 me and my x wife watched a tv show on Dave Ramsey.
Even though we divorced…we’re both now multimillionaire’s. I would say that watching that show that night, changed our mindset in the right direction.

[daniel]

It's definitely worth repaying high interest debt first!

Thanks for the helpful and well organized video.

[marilynflores]

After watching this video, I am actually proud of myself. I am in my late 40s and have reached stage 5 with no investing, only with savings and frugality. Watching your videos has given me the confidence to start investing and hopefully by the time I retire, I would have reached stage 7. Thank you for your videos and I will definitely check out your friend's site.

[ghostmasterson]

I'm 43 and at stage 3; I live below my means, don't have a car note, and I participate in my employer pension and 403b. My student loan debt is minimal due to working at a college for the tuition waiver. I'm not where I want to be, but I'm working on it! Good video and insightful 👌 👍

[luc]

One of my favorite youtubers! You make really great content and I am not only speaking about this video. Greetings from Yucatan!

[victorlopez]

Needed to say that I started following you a few weeks back and watch about a new video from this page daily. All that to say that I am a huge fan - beyond informational and practical - and confirmed that I’m doing alright in life and yet, the golden tidbits of information shared here have helped me 10x my perspectives on money & financial goals. Keep up the good work and thank you for serving your community in more ways than one. Currently hovering between stage 4 and 5 and more motivated now to keep pushing!

[myrmidon]

I thought I really liked you. Then I saw you were a fellow vet. Now I REALLY like you.

[SmartShortsHub]

Very informative breakdown of the 7 stages of financial freedom. Each stage provides a clear roadmap, making it easier to set and achieve financial goals. A valuable resource for those on the journey to financial independence.

[lenex]

Age 32 this month, stage 4. Hoping to hit stage 5 and start coastFI at 35!

[lulusp]

Love your channel ❤️...I shared your videos with My 12 years old daughter!

[jpbgolv]

I recently found your channel, thanks for the great videos!

[princeVEGE]

I didn’t know you were a vet! Former 11b here, love your vids!

[TheDogondone]

Appreciate you shouting out Dave Ramsey. He's literally the reason I'm where I'm at. Been following him for 10 years, it works and this video is solid info.

[abluelark]

Currently stage three; 28 years old. I do still have student loan debt ($4.5k left at 2.1% interest), but that should be paid off early at the beginning of next year. I'm investing about 30% of my income, and plan to retire when I am around 50.

[twhite]

Stage 6 investable $. Not including pension or social security. Now I need to hang onto it.

[saisrujan]

Thanks for the video Kim. Really helps to stay on the Track. I am on stage 3 going ahead to stage 4

[altspock]

I did the pay down approach for my student loans but I tackled them from highest interest rate to lowest. From a financial point of view, this saves more money than not prioritizing by interest rate and should take less time to pay them all off since you’re reducing the overall interest rate on your debt over time and hence the final amount you’ll need to pay to get debt free.

[claytruant]

Surprised to see that I am at Stage 4 at 40. I have 4 years worth of annual expenses saved, working toward five, so I am not far off of Stage 5. Since I only started becoming serious with my finances over the last few years it is interesting to learn that I am slightly better off than I thought.