Your Time Freedom Point is the monthly passive income you need to cover all your expenses, from bills and mortgage to vacations and hobbies. Calculate it by adding up everything you spend each month. That number becomes your concrete target for financial independence.
Chapters
And the big hairy audacious goal, I was just about to say is a life goal, right? But in our case, we try to boil it down at least to a significant extent to what does that mean financially? And it's kind of related to what we just spoke about with the Time Freedom Point, because the Time Freedom Point is really a point on the calendar where you reach a certain level of passive income that you have set for yourself as a goal, right? So if you go right now, Wayne, and you would say, okay, how much money do I really need every month to pay all my bills, pay my car, pay my gas, pay my vacation, pay my mortgage or house or all the things and all the passions and things, your Netflix and whatever kind of hobbies you have, just add that all together and say, okay, that is the number and the goal or the Time Freedom Point.