New Delhi, Aug. 13 -- As India prepares to celebrate its 80th Independence Day on 15 August, investors can also think about another form of freedom: financial independence. Your "freedom number" is not a fixed Rs.5 crore or Rs.10 crore target.

Your "freedom number" depends on how much you spend, when you plan to retire, inflation, outstanding debt, family responsibilities, and healthcare needs.

A freedom number is broadly the corpus an individual needs to support their desired lifestyle and meet future financial obligations without depending on active income.

Siddharth Maurya, Managing Director, Vibhvangal Anukulara Pvt Ltd, said there is "no universal freedom number for all investors". The required corpus has to be calculated based on...