What does "financial independence" primarily refer to?

Financial independence primarily refers to having sufficient wealth to retire without needing to work. This concept emphasizes the ability to maintain one's desired lifestyle through assets and investments rather than relying on a paycheck from employment. When an individual achieves financial independence, they have accumulated enough resources to cover their living expenses without the necessity of earning a regular income. This often involves strategic saving and investing over time to build a substantial nest egg that can sustain future expenses.

While the other options, such as owning multiple assets, properties for passive income, or being debt-free, can contribute to financial security and comfort, they do not fully encapsulate the overarching goal of financial independence. This goal centers around the freedom from the necessity to work for income, allowing individuals to pursue their interests and passions without financial constraints.