How much money is "enough" money?

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Soi Dog
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How much money is "enough" money?

Postby Soi Dog » Tue Jun 03, 2014 8:42 pm

I know we are all different ages and have vastly different perspectives on what we feel we need to live comfortably for the rest of our lives. Family and kids and health all drastically affect that perceived amount...and of course, future events can wreck any well-meaning plans in an instant.

For YOU personally, how much money or net worth in your possession would make you breathe a sigh of relief and think "I am now financially set (comfortable) for the rest of my life"?

I wonder if I am alone in this....but I have often created spreadsheets with columns for anticipated future living expenses, anticipated future income streams, current savings amounts, inflation, etc., trying to figure out a reasonable time frame for retiring. Conventional wisdom says you work until you hit age 67 or so (probably age 70+ for the younger generation). Then, you get to enjoy life. I know some people really enjoy their working life and career, but mine is just a means to an end, for the most part.

My current number = $800,000. It is based on me not having to work any more, and living modestly in SE Asia. What's your amount?
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phuketrichard
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Re: How much money is "enough" money?

Postby phuketrichard » Tue Jun 03, 2014 9:00 pm

AS much as you can get
but
whatever number it is
it is not enough
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
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Re: How much money is "enough" money?

Postby nightmare.believer » Tue Jun 03, 2014 9:01 pm

Hanging out with this guy from now on.
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Re: How much money is "enough" money?

Postby nightmare.believer » Tue Jun 03, 2014 9:05 pm

Actually, I think that thinking of retirement in the tradition sense may be outdated. Having multiple streams of income continuing throughout the golden (shower) years is a more feasible approach.
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Re: How much money is "enough" money?

Postby Soi Dog » Tue Jun 03, 2014 9:05 pm

phuketrichard wrote:AS much as you can get
but
whatever number it is
it is not enough
That's the thing. It is so easy to convince yourself you need some more....and when your reach that goal, you need more again. When to stop, is the question.
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Re: How much money is "enough" money?

Postby Soi Dog » Tue Jun 03, 2014 9:09 pm

nightmare.believer wrote:Actually, I think that thinking of retirement in the tradition sense may be outdated. Having multiple streams of income continuing throughout the golden (shower) years is a more feasible approach.
That is sensible. BUT, you still need to accumulate X amount of $$$ in order to generate that income stream. And you still need to calculate how much that income stream needs to be for the lifestyle you want. There is still some number required to make it happen. I am asking people to post that number they have calculated.
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Re: How much money is "enough" money?

Postby OrangeDragon » Tue Jun 03, 2014 9:20 pm

I'm banking on this website. If I'm not a retired millionaire by next year I blame Vlad for not posting enough puns.
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FreeSocrates!
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Re: How much money is "enough" money?

Postby FreeSocrates! » Tue Jun 03, 2014 9:23 pm

Conventional wisdom says you work until you hit age 67 or so (probably age 70+ for the younger generation). Then, you get to enjoy life.
I think the world is seriously backwards. How is one supposed to enjoy oneself and live it up, travel etc, when they are 70+. Work for 50 years then you get to enjoy life when you need hip surgery and can't see more the 2 feet in front of you???

I always thought people should retire (See the world, party etc) from 20 - 40 and then work for the rest of their lives. :lol:

For me I lived a bit like that as I've had passive income for a long time, but I only came to realize that I like working, and that you need a balance in life. Things tend to lead to their opposites.

Right now my plan is to move from country to country until I'm like 50 (my business is online), if I make it that far, knock on wood, (I'm 35) and then settle somewhere, probably back in Canada. But who knows, I love Asia.

I have no retirement savings, but I still for the most part act like I'm 21, I am slowing down and maturing and probably in the next few years I'll start thinking about this stuff.
Last edited by FreeSocrates! on Tue Jun 03, 2014 9:26 pm, edited 1 time in total.
The cedar roasted asparagus has good chew. I don't know how to enjoy it, so I'll Instagram it instead.
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Re: How much money is "enough" money?

Postby Soi Dog » Tue Jun 03, 2014 9:24 pm

OrangeDragon wrote:I'm banking on this website. If I'm not a retired millionaire by next year I blame Vlad for not posting enough puns.
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Re: How much money is "enough" money?

Postby OrangeDragon » Tue Jun 03, 2014 9:27 pm

Soi Dog wrote:
OrangeDragon wrote:I'm banking on this website. If I'm not a retired millionaire by next year I blame Vlad for not posting enough puns.
Image


Sign: "Will moderate forums for food"
:dragonchase:





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