It’s a pretty simple question — at what point would you feel wealthy?
Is it a net worth number?
Is it a feeling?
Is it because you can do something you’ve never done before?
For me, it’s if I would never have to work again, even with all of the spending I want to do.
Not so easy to pin down, but that would mean being able to take a trip any time I wanted, buy anything I wanted without thinking about the price tag too long and hard (yes, this includes $2000 Burberry coats), and basically.. doing whatever I want, whenever I want.
Oh, and being able to take a cab.
I’ve reached a mini-equilibrium of that now, but it is obviously not permanent because I will have to work and make money to sustain what I am doing now which is what I like to term a mini, semi-retirement of sorts, by taking very long sabbaticals (going on 3 years now!).
I think the actual net worth number I would need would be at least $5 million, but if I could just ratchet down my spending and jack up my income, I wouldn’t need as much, now would I?
This is the price I am willing to pay for the balance of enjoying life while making sure I secure my financial future.
SO WHAT WOULD IT TAKE FOR YOU?