Do you want financial independence or financial freedom? In our world of words and semantics, you may be wondering what the difference is. Dave and Reb talk this week with financial planner and advisor Tim Jenkins to uncover the difference.
“Financial independence is often associated with a dollar amount,” says Tim. “It is implied that we can arrive at a certain destination and that we can be secure when we get there.
However, money is not security, because markets can fail, as was evidenced in the 2008 global downturn. “Financial planning allows targets to be established and provides a plan to get there, which is wise but we need to understand its limitations,” Tim adds.
Freedom, on the other hand, involves contentment, no matter the dollar amount: God is the source, and not money. As Paul writes in Philippians, contentment can be learned in any situation because we “can do all things through Christ, who strengthens” us.
Finding financial freedom and contentment is a journey. It involves listening to the Father, His Word, and His heart for us, where we replace the lies of the world with the truth of God. With over 2,000 verses in Scripture relating to money and possessions, we are not without help and direction.
Listen to this week’s show to hear more of this discussion.