496. Your Freedom Number (Wealth Series Part 3)

The ONE Thing

NOVA Media

Entrepreneurship, Business, Careers

4.6 • 1.1K Ratings

🗓️ 17 March 2025

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

What would it take for you to never have to work again—unless you wanted to? That’s the core idea behind your freedom number. It’s not just about becoming a millionaire; it’s about having enough unearned income to live your life mission without relying on a paycheck. In this episode, we walk you through the three key data points needed to chart your financial future: Where you are today Where you want to be (your freedom number) How long you have to get there We simplify the math behind financial independence, introduce the 4% Rule for sustainable wealth, and provide actionable steps to set your target. Whether you’re looking for security or ultimate freedom, knowing your number will allow you to make informed investment choices that get you there. If financial freedom is your goal, don’t just dream about it—start mapping your path today. Challenge of the Week: Download the Freedom Number Worksheet at the1thing.com/freedomnumber and calculate your freedom number. Use the formula to determine how much your money needs to work for you, and start making strategic investment decisions today. *** To learn more, and for the complete show notes, visit: the1thing.com/pods. We talk about: Why financial freedom is about choices, not just wealth How to calculate your freedom number using the 4% Rule The power of compounding interest and investment strategies Links & Tools from This Episode: Download the Freedom Number Worksheet: the1thing.com/freedomnumber Free Resources Want to be a guest or share feedback? Email [email protected] or send us an audio note at Speakpipe.com/the1thing. This podcast is for general informational purposes only. The guest’s views, thoughts, and opinions represent those of the guest and not KWRI and its affiliates and should not be construed as financial, economic, legal, tax, or other advice. This podcast is provided without any warranty, or guarantee of its accuracy, completeness, timeliness, or results from using the information. Any text or materials generated by artificial intelligence (AI) should be reviewed for accuracy and reliability as there may be errors, omissions, or inaccuracies. Produced by NOVA

Transcript

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0:00.0	I'm Jay Papazan and this is The One Thing, your weekly guide to the simple steps that lead to extraordinary results.
0:18.3	Hey there, One Thing family, Jay Papasan here for our final part of this three-part series on wealth
0:23.9	building. Today, we're going to talk about identifying your freedom number. And a freedom number
0:29.2	simply means how much unearned income would you have to make every year to be financially free,
0:34.9	right? To not have to work. Work becomes a choice.
0:38.0	Now, the reason this is important, I've coached and I've helped and I've mentored lots and
0:43.4	lots of people on this journey, so as my wife.
0:45.6	And so many people out there, they may have some really good wealth-building habits.
0:50.6	They may have a pretty good understanding of how investments work.
0:53.8	But a lot of times their
0:55.5	expectations for what they want in their financial future and how they're behaving today
1:01.0	just are not lined up. And one of the big gaps is that they aren't really, really clear on
1:07.8	where they're going. Now, to make a map, right, between any two places,
1:12.3	you need a few data points. And in the world of financial freedom, you need three.
1:17.1	Financially, where are you today? Where do you ultimately financially want to be, which will be
1:23.0	your freedom number, and how long do you have to get there? You have the where am I today and where do I
1:29.1	want to go? Fundamentally, you can draw a map between anywhere and because we're talking about investing,
1:34.4	we want to talk about time as well. The biggest lever on your money's growth will be time,
1:41.0	because time doesn't cost you anything but time. Otherwise, you have to more aggressively
1:46.9	work your money or put more money to work. Time is the master of all of those. So if you're a
1:52.9	younger person listening to this, kudos to you. I wish I'd learned this before I was 30. We started
1:58.0	a little late, but we did pretty well. If you're a little later in life and you're like,
	...

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