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Do Fish Dream ?

Thursday, January 31, 2008

How Much is Enough ?


Money that is....

I've got money invested in stock and in property, and after 25 years in the same company, considerable investment in personal superannuation - and so with all the volatility around the world in these markets, I've been asking myself this question: How much money is enough ? That is, how much money do I really need when I retire, to live the lifestyle that will make me happy....as opposed to what my financial advisor tells me I will need or what societal norms and expectations tell me I should ?

And while I'm at, what is it about money that causes otherwise sensible people to completely lose their heads ? I've seen couples who are passionately in love break up under financial stress; I have friends whose kids are starting out twenty years behind their peers because of huge credit card debts they accumulated in their teens (WTF ??); I work with executives who earn six-figure incomes and yet who can't save a cent; and I know poor retirees who have lost their live savings through various schemes and scams.

I've seen seriously rich people who are seriously miserable, and less well-off people who seem to have found the magical elixir of happiness.

So, how much is enough ? More than any other, this question gets to the heart of the balance between money and the things we want to achieve and enjoy in life. Life's busy and getting increasingly busier. Few people make the time to stop and think: Why have I been working so hard ? What have I been spending my money on ? Does this make me happy ? How much money do I really need ? And, most important of all - Have I really got the balance right ?

I've not got the answers, but I think it's time I grew up and started to search for them.

13 comments:

Anonymous said...

No amount of money is ever enough.

No matter how much you have you always want more.

Just remember money doesn't buy happiness.Some of the wealthiest people are the most unhappy.

Anonymous said...

Sell! Sell!

Seriously, money? You literally cannot take it with you (I can hear your teenager cringing).

The more you have, the more you spend. Etc, etc, every cliche you have ever heard.

My hubby and I have had so many jobs over the course of our lives that I doubt we'll ever be able to retire!! Super? WHAT super? You know what? Who cares? You never know what may come knocking on your door (hello, DVT???), so don't worry too much about the future.

I happen to believe there is some kind of universal grand plan thingy going on, so I think we'll be ok. Maybe I'm wrong! But that's ok too.

Life is for the living (teenager cringes again), so go for it! Just do what feels right for you. :)

Baal's Bum said...

If you got lot's of money
You spend most of it on drink, drugs,and having a good time the rest you will just waste
Remember Everything in Moderation
Especially Self Control

Joe said...

I don't make a million dollars a year, but I like my job, drive a car I like, ride a scooter I like, have enough money in my pocket to do the things I like to do and have money in savings and a pension for retirememt. All of that helps add up to a pretty happy life, so I guess I have enough money.

Chelsea + Shiloh said...

If it was in 10yrs (not having the immediate responsibility of Bella) then I know, I could live surprisingly well on litte... I have very few material wants & have done it before.

If my housing (and I can do with modest) food, utilities were met then I dont need alot, I live within walking distance of everything (beach, shops, friends), the things that make me the happiest cost little

I have found that I quiet like living how I do which is probably average middle income. I think before i buy, I layby and I appreciate all my material things cause I did work hard for them...I sometimes have bit over that I give to others, sometimes I spluge on myself...I want for nothing

My parents have always been rich, as have my paternal grandparents...they are so concerened about who is trying to fleece them of money, they have long lost the ability to enjoy it,or to give it to others...they lead, to me, shallow lives.

If my income was taken from me, I would adjust and I would still have meaning in my life...

If you have Ted & the children, no matter the financial circumstances...You will balance right...You dont need to search, it will happen

pita-woman said...

Dare I say there is no correct answer?
But I agree, some of the wealthiest are the unhappiest.
If we make enough to meet our monthly mortgage, utilities and basic needs, w/a little to put back for emergencies or perhaps a vacation, then I'm happy. I'm not greedy. If I did suddenly have a bunch of money, I'm not sure I'd know what to do with it.

Bettie K. said...

Having grown up with it I can tell you that it does not make one happy. Like a lot of the things, the idea of it is sometimes better than the actuality. (As I am writing this, my maid is cleaning the house and I am going to take my son to school in our Porche).

gemmak said...

Jeez....don't go there, I have nothing for when I retire and I don't like to think about it!!! I just 'hope for the best' these days! heh.

Watergurl said...

Apparently around $180, the current balance in my bank account!!! Yippeeee
But I know alot of people that live on less (one of my lines of work...)
"Let them eat cake"

Anonymous said...

ps I do love that little graphic of gemmaks...I need one

Unknown said...

we have a saying in our family, between my brothers and me, that money doesn't make you happy and being hungry for it makes you miserable. One of our siblings is incredibly materialistic and wants for much and it definately doesn't make her happy, or even likeable. In my experience money can make you miserable, inside and out. I have no other debts other than my mortgage and have set things up so that we could cope if either of us wasn't working, besides you do live up to your income...only my thoughts xo

Chelsea + Shiloh said...

I have a theory re: saving for something I want.

money saved is directionally proportional to next major bill to unexpectedly arrive.

Like that saying Miss K...might scrap that...lol...

one of my siblings spends her life chasing a life but she never seems to enjoy it...has that always needs more hole inside that she can never fill...one of my brothers is poor as a church mouse, hectic home with kids underfoot, but i love visiting him cause there is always laughter...

Iron Pugilist said...

I used to say, "I want to be so rich I can pay people to shut the fuck up".

Sometimes I wish love is all we need to survive, but that really isn't enough.