Time freedom is a person’s ability to control how they spend their time.

Americans are notorious for being extremely hard-working, at the expense of our time. People who value time freedom realize that money is less valuable if they don’t have time, but also that time is less valuable if they don’t have money.

True wealth comes from both time and money, not to mention health and relationships. Complete time freedom is achieved when a person has residual income that exceeds his or her expenses. Once time freedom is achieved, a person is free to pursue their dreams, no matter how badly it might pay at first.

Time freedom is especially important for creative professionals because the more creative and less commercial their work is, the less it pays. Take a musician just starting out as an example.

Musicians can’t get paid until they achieve some success, and even then very few make a full-time income from it. Our new musician has to work a job (which takes away from her creative time) to pay her expenses. Since she is playing less music, it will take longer for her to succeed. Many creative people get stuck in this downward spiral.

If our musician reduced her expenses to the bare minimum, and added enough passive income to cover her expenses, she would have all day to write, and night to play free concerts all over town. Her chance for success has just increased exponentially.