How much is enough ?

Hello there folks !
Gosh it’s already almost the end of August 2016, time really does fly sometimes doesn’t it? Soon enough 2016 will be history and we would be staring down the beginning of yet another year.
Considering that I’m in a bit of a philosophical mood today (I’d tell you why later), let’s talk about an often overlooked aspect in our lives. We all go through life with various expectations, hopes, dreams, aspirations, fears and wants.

Life is often a hurried race, one task to another, being buried in commitments, and wanting it all. There is often no time to reflect, no time to pause, no time to take stock. We just ponder on with life.

The pale blue dot

Sometimes we all need to take a step back and reflect upon our lives. I insist. Now that you’re reading this blog of mine, take a pause. Think about how far we have got, from an infant, to a child, to a teenager, and now an adult. Think of all the challenges you have overcome. Think of all the pleasant memories in your life. Reflect upon the fears that you have had to face. Think about how you rose up to every one of those. Think of all the people in you life that matter. Remember the ones you have lost. For life is a one-way street, and when you really do want to, there is not going back. Just spend 2 minutes doing this if you could spare. And if at the end of it you feel the tingling sensation that you want to say something to someone or do something, act on it. For deep down it is something you really do want.

Considering that this is supposed to be a finance blog, let’s talk about how much is enough. How much money do you really want ? I mean think about it. What is your magic figure ? 1 million ? 2 million ? Well, instead of plucking figures, let me tell you how much is going to be enough for me. I’d have enough money when I have accomplished the following :

  • When my home mortgage & all debts are fully paid off
  • When I have enough savings to last me for 10 years of monthly expenses
  • When the expenses for my child’s education is set aside
  • When I do not have to worry about making payments for my insurance plans
  • When I have enough passive income equal to about 75 % of my current monthly salary from investments

Of course sometimes this arbitrary figure could change, after all our needs and expenses do change with time. However, having an end goal helps set the course to what you eventually want. Using this you could come up with a figure that would set you free eventually. Go ahead, try it 🙂

Now the reason behind the philosophical me, my brother recently shared this video with me. Here’s the link to it :

I’d like you to watch it. It takes 3 minutes tops.

Now let it sink in, the reality is that nothing in life is really worth the worry. We are but a tiny speck in the pale blue dot. And in the grand scheme of things, in the cosmos, we are but a very tiny pixel on a tiny blue dot. Now how’s that for a reality check ?

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