▲ ▼ How far away is Financial Independence?
Mint/YNAB do a good job of seeing where money went, Personal Capital/Wealthfront do a good job of seeing where to put your money. But what does it all mean in terms of how far away a person is from Financial Independence given their individual circumstances? Seems like most of the software out there today makes things more complicated, which makes it even harder to have confidence that you're on the right track.
Also frustrating that a given amount of money is hard to relate to what it will actually get you in terms of real-world benefit, given your own tastes and habits.
I read lately ( https://www.notion.so/Content-Consumer-Financial-Freedom-by-playing-the-Great-Online-Game-54548c0e06a24baa978dd81871804fe1#72e280c01c974ebc849b00531937aa1e ) the formula for financial freedom:
**Financial Freedom = Passive Income > Expenses**
so I guess it could be calculated by some app, given that you provide it with the information about your passive income streams and your expenses. But at the same time, it's not really that complicated to calculate it yourself.
Thanks a lot for this! Agreed that the numbers can be simple once people get a bead on them, it's actually determining what the numbers are, how they will change, and tracking them as life happens that is the tough part. Appreciate you sharing your thoughts! :)
ChroniFI addresses this by boiling your entire personal finance situation down to a couple key numbers, expressed in units of time (for example, amount of time you can afford to be financially independent, amount of time until you are fully financially independent, etc.). It's not just static, but you can view your progress toward retirement, or even a job switch, and gain the confidence and wisdom to start making progress toward your ideal life.
You can check out how this relates to your situation at https://www.chronifi.com . Would love to hear any and all feedback/suggestions :)
Hi Ben, can I ask how many subscribers are interested in the monthly subscription of 9,99?
I think there's a large need-gap for solutions which can enable financial independence, I appreciate your attempt to address it.