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Do they mean the same thing?
And more importantly, how do their definitionsaffect your financial life?
Heres how to understand the difference and what it takes to build both.
Its the foundation, as your money works for you.
In other words, Pavone said financial independence means work becomes a choice, not a necessity.
In a nutshell, Independence provides security; freedom unlocks possibility, Stroup said.
That means defining what you want to be true for your life now and in the long term.
Start non-numerically more along feelings and experiences, she said.
Then, match the goals to rough numbers.
These scripts are shaped by childhood experiences, family dynamics and personal history.
They influence how you save, spend, and think about wealth and security.
If either end goal doesnt feel attainable, work with a CFP who offers comprehensive financial planning.
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