Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Saturday, August 13, 2022

The 7 levels of financial freedom, according to a self-made millionaire — 50% of U.S. workers are at Level 2

Estate planningGrant Sabatier is a self-made millionaire and one of leading voices of the FIRE movement, which stand for Financial Independence, Retire Early. 

Sabatier considers money to be an instrument that provides individuals a choice on they how want to live and not a tool to simply buy things. He has created a roadmap which dictates seven levels of Financial Freedom:

  1. Clarity: You figure out where you are financially and where you want to go
  2. Self-Sufficiency: You’ve moved out of mom and dad’s and can cover you expenses
  3. Breathing Room: You’re saving some money and no longer living paycheck-to-paycheck
  4. Stability: You have no ‘bad’ debt and six months’ worth of expenses for emergencies
  5. Flexibility: You have at least two years of expenses saved. You could take a year off work
  6. Financial Independence: You can live off the income you investments generate
  7. Abundant Wealth: Money isn’t a concern. You have more than you’ll ever need

For more information:

See Ryan Ermey “The 7 levels of financial freedom, according to a self-made millionaire- 50% of U.S. workers are at Level 2” Forbes, March 29, 2022.

Special thanks to David S. Luber (Florida Probate Attorney) for bringing this article to my attention.


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