What is defined as having sufficient personal wealth to live without needing to actively work for basic necessities?

The term that refers to having sufficient personal wealth to live without the need to actively work for basic necessities is financial independence. This concept entails that an individual has accrued enough resources or passive income to cover their essential living expenses, allowing them to choose whether or not to work.

Financial independence is often viewed as a goal for many individuals seeking to achieve a certain lifestyle or level of comfort without the constraints of a traditional job. This level of autonomy can lead to greater freedom in making life choices, such as pursuing extended travel, hobbies, or further education, without financial pressure.

The other concepts, while related, do not capture the same idea. Financial stability typically refers to having a consistent income and the ability to manage expenses effectively, but it doesn't imply freedom from work. Financial security involves having assets to protect against unforeseen circumstances, such as economic downturns, which does not necessarily mean one is free from the need to work. Financial literacy refers to the knowledge and skills required to manage financial resources effectively but does not imply any specific level of wealth or freedom from work.

Thus, financial independence stands out as the accurate answer, emphasizing the ability to live without actively working for basic necessities due to one’s accumulated wealth.