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[quote=Anonymous][quote=Anonymous][quote=Anonymous]define financial success.[/quote]

Having assets and cash flow.[/quote]

Are you OP? I don't disagree that both are important but that's a loose definition. Here is how I would define financial success (although I would probably call it financial stability/security per the second half of your title; to me personally, financial success is independence from having to work, which is obviously a lot harder to achieve!):

-Debt-free (other than a fixed-rate, low interest mortgage that fits comfortably within your budget if you own your home)
-Cash emergency fund equal to 6-9 months of expenses
-Regularly saving at least 10% of your income (20% is better, per Elizabeth Warren's Balanced Money formula, but not feasible at all points in life. Still, financially secure households can always save something)
-Retirement assets equal to 3x your annual income (by age 45)

Financial stability doesn't require earning a lot of money (although it helps) but it does require aligning your income with your spending so that the latter never exceeds the former, and you are able to save and invest the surplus over time. [/quote]

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