Quick Wealth Network

How would you explain the difference between Job Security and Financial Freedom?

Public Comments

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2. I would think that job security gives you financial freedom. However, you can have job security and be financially insecure - poor pay, high overheads etc. Another aspect of financial freedom is when you are rich, don't need to work and don't have to worry about money.
3. Job security = You don't have to worry about getting canned. Financial Freedom = you don't need a job
4. There is no correlation between job security and financial freedom. Just because you are secure in your job does not mean you will have financial freedom. The reasons are: 1. you could be earning small wages, 2. you could be mismanaging your money and have lots of debts, 3. you don't save enough to reach financial freedom. You need to save at least 5 to 10% of your income and have no debt to get financial freedom.
5. Hello invasion!! the only way i know how to secure both is to become a self employed person with a success full business. That way no one can sack you, you will not be made redundant by take over, buy out, etc., there are risks of course, and it is extremely hard work; the rewards are great though because you have the best of both situations. Security and financial freedom. Most of my life it has been work hard, play hard, save hard, and i have now been retired 21 years from working, but i still play the stock market to enjoy the cut and thrust of business. See my profile.
6. Is there really a thing as "job security"? Not that I see. As long as you work for someone else; you are ONLY making them have financial freedom. When you build your own business;and work for YOU; then I believe that job security and financial freedom is in your grasp. I worked for someone elses gain for 42 years. Until I became disabled;then , I was laid aside(fired)instead of offered a job doing what I could with my disability. But now; I am building job security; and creating financial freedom FOR ME. Look how I took control of both things; security and freedom. blessings to all
7. Reality check - there is no such thing as job security. Whatever work you do it can be changed in some way or another which will affect what you do. Whilever your income depends on someone else authorising your pay cheque you are answerable to THE BOSS and exchange your time and expertise for the value the boss attaches to your skills. Until you have reached a position where your income is controlled by you - when you can choose to do more if you need more money or do less if you choose - that is when you are able to send your money out to work while you have freedom of time - that is financial freedom
8. I would say job security is working hard and putting all you can into your job to make sure you keep it where as in my personal view financial freedon will only ever come when you have taken out a mortgage and paid it off 25 years down the line. The biggest chuck of your wage for most people goes on rent/mortgage payments so not having this to me means financial freedom.
9. Financial Freedom is the ability to not have to worry about money. When you have financial freedom this basically means money is not an issue for you. Or to say it another way, you don't have to think/obsess over money because you have enough of it. This does not mean that your are extremely rich, but merely than you have a enough and are free to make all life choices without have to consider money. Hence the words "financial freedom" you are free from money/finances driving decisions in your life. Job security on the other hand is merely the assurance that the job you have today you will have say 2,3, or 10 years form depending on the degree of security. Job security is simply knowing you won't get fired. If you are interested I just started a 6 lesson Mini Series on "How to Achieve Personal Financial Freedom" it can be seen at my blog http://personal-financial-advising.blogspot.com/