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As we reach middle age, most everyone I talk to say it's not about the money, but the ability to get off the treadmill and spend time doing what one considers to be more important things in life - family and friends, and making up for lost time.
Ok, but tell us just how being "rich" is better than having "enough" to avoid being poor.
well we have to determine what "rich" means. It may not take billionaire wealth to secure a comfortable lifestyle, but even if you wanted to live frugally, it still takes quite a bit of money to sustain a retirement plan that starts at age 65 on top of a separate 6 month emergency savings fund.
Ok, but tell us just how being "rich" is better than having "enough" to avoid being poor.
Being more able to deal with hardships that life will throw at you from time to time.
Will "being rich" prevent all hardships? Hardly, but I've seen and lived thru what financial strife can do to marriages and families (including the frugal ones!).
Also not being wholly dependent on a gov't agency and/or charity - unless praying for the 3rd of the month to get here ASAP so you have some money buy food/medicine/utilities is somehow glamourous.
the desire to purchase your own freedom.
that would be the only reason, and only enough money to do so.
money provides an opportunity to escape from very very bad circumstances.
We are two very frugal people. Love to reduce utilities, no interest paid for over 20 years, love my old car, dress for comfort not style.
However, our wealth removes almost all the stress from daily life, allows for spontaneous things, allows us to help others, etc. It is more a mental condition than having "things".
We saved and saved (because we usually did not have anything special to spend money on) and created a wonderful portfolio which is balanced and diversified. We are going to have a pretty good retirement.
Its the competition, I want to do better than the guy beside me. Yet I'm probably half the age of most the people posting in this thread. My goal beyond that is being financially set.. asap. Not even needing that daily income, but being financially satisfied is not rich. I want to be rich to have and do ALOT more then the average well off guy. Money = Power.
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