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What you should know: Financial independence is defined as your ability to live without financial constraints, determined through quantifiable metrics such as spending, income, and investment forecasts. But despite its concrete aspects, financial independence involves uncertainty, as probabilistic simulations (like Monte Carlo) can only predict likelihoods, not certainties.

Financial security, on the other hand, is more likely to evoke emotions, such as the need for reassurance of stability and safety. Unlike financial independence, however, financial security is not easily measured. As such, it's often created from subjective perception versus objective financial metrics.

Key takeaways: You deserve to experience financial independence (the objective ability) and financial security (the subjective feeling) in your life, but to achieve both for the long-term, you will likely need a roadmap (AKA a Retire With Purpose plan).