Physician Empowerment Masterclass Faculty Member Simon Wong joins Dr. Wing Lim for a conversation about financial freedom. Simon dissects how the interchangeable terms of financial freedom, financial independence, and financial security actually hold rather different meanings and how there are philosophical mindset factors that affect where people see themselves as finally achieving freedom or security. What are the quality of living goals, retirement goals, and wealth ambitions? Simon walks Wing through how all of these affect financial freedom.

Dr. Wing Lim asks the question “When are we free?” which leads Simon to explain that financial freedom is almost impossible to 100% achieve because life will always contain risk. Even a passive income real estate portfolio carries the innate risk of rising interest rates or damage to a property due to fire. But Simon also points out that feeling 100% secure in whatever the projected “freedom” rate is for each individual isn’t necessary because one can experience a sense of financial freedom at 70% certainty or 90% certainty. Simon and Wing discuss all the factors that affect financial freedom, how to think about it, what to set up to make it a future reality, and why a financial planner can assist in setting the right goalposts for hitting that freedom.

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About Simon Wong:

As an Integrated Wealth Planner, Simon’s expertise lies in simplifying complex financial concepts into clear, actionable insights, forming the cornerstone of his Financial Plans. He specializes in navigating individuals and businesses through the intricate landscape of finance, utilizing his extensive knowledge and experience to foster their financial success and stability.

Simon’s academic and professional credentials, including an MBA in Accounting and a prestigious trio of designations - Certified Financial Planner, Chartered Investment Manager, and Chartered Life Underwriter - empower him to provide holistic and strategic financial advice. His career spans beyond traditional wealth planning, enriched by collaborations with elite asset management firms and a notable tenure at a leading accounting firm.

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