September 15, 2006

How much money do you have to put away per year to live comfortably? Comfort is in the eye of the beholder, but how much money is enough to not need to worry too much financially?

This is something I've been struggling with because my master plan in Taiwan hasn't panned out the way I had hoped. So, what's "good enough"? After short-term expenses (i.e. excluding mortgage, car payments, etc.), is $10K cad/year sufficient? $20K? $30K? $40K? Of course, more is better, but what's enough to live the lifestyle you'd want to live longterm? Does saving, say $25K a year put you in good condition? $25K seems like very little.

I believe in living comfortably and spending money where it should be spent. I think shrewd spending is a good rule to follow in general, and that opens up the floor to larger expenses (travel, vehicle purchases, etc) without having to worry about the money. But in short, I don't enough money. Period. If I had a $80K salary, would I still think the same? I get the sense that I will become one of those "it's never enough" kind of people, and it scares me because I realize that I may not ever enjoy life.

How much of my happiness is dependent on money? I just don't know.

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