Money is very needed in life, but it is not the only thing that we need in life. Most people are trained to think that money everything in life from their childhood. Most of us are just trying to earn more and more money and we forget to set a target. More is better, but still, there should be a limit. Whatever be the deposit of money you have, you can only
- eat that much food that your stomach can hold
- drive ONE car at a particular time
- live in ONE house at a time
How much money does one need?
You should have a target number or at least an approximate range of money that you will need for your life. You can take your time to calculate this amount depending on your earning potential and standard of living. This will let you know how soon and how much you should earn or accumulate. There will surely be a number or range that will be enough for you to lead a happy, healthy and comfortable life.
If you fail to establish this figure, it might happen that you keep on accumulating wealth in your life, and later it might either turns out to be trash because you forgot about other aspects of life or you are no longer alive to enjoy that money. You need to have a target amount set because the time you spend to earn that money is actually taken from somewhere else.
- Working late at night to earn money, is actually the time taken from the next day morning and from the exercise time.
- Staying away from your family and loved ones to earn money, is the time taken from the quality time that you can spend with your family.
- If you are working on a festival day, then you are taking time from the joy and fun of celebrating that occasion with family.
Like what is mentioned above, there are numerous other examples that can show that the time you spend earning money is the time that is borrowed from some other part of your valuable life.
How to find out how much you need?
It is stated that if you are able to build a corpus that is about 400 to 500 times your average current monthly income, then you can relax for the 30 years. Use this simple calculation and your current age to know how much and how long you need to earn and accumulate wealth before that wealth becomes useless for you.