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m-network
Mar
29
what does being rich mean?
Filed Under retirement | 6 Comments
Some days, I look back and wonder what exactly I’m saving and investing for. I don’t have any great goals. I don’t have any (or any desire for any) children to put through college. I have the money already for my first house and if my circumstances didn’t alter, I’d never need to move. I enjoy travelling and have a list of places a mile long that I want to go and see, but I can afford to make a dent in that list right now because I like to travel cheaply. I enjoy my job, and its not something that I could do as well if I worked for myself. The plan for my estate (when I get round to making a will) is to leave money to charity, I don’t need to end up with a great big pile of money just to do that with if I can donate whilst I’m alive instead.
So I was thinking, would I like to work really hard now so that I could be rich in the future? My initial answer, because I’m lazy, is no, I do not want to work really hard so that I can sit on a great big pile of money. But then I though about what I mean by being rich, and I decided that I mean the ability to not work for a living.
It then dawned on me that not only do I want to be rich at some point, I’m actually working towards it already. And that’s because, I like everyone I know, do not plan to work until I drop dead. I don’t want to be too old and sick to work, but with no money. I want eventually, to stop working and live off the money I have. I want to be retired, and being retired is being rich, by my own definition.
I have to work hard now, and save and invest money, because there is no where else that the money will come from. But I also have to have fun now, because its forty years until my retirement, and I don’t want to put off all my fun until then. I’d better book another trip abroad.
Mar
29
plonkeesround march 2007
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I will share with you the best* posts written this month
- foreign money isn’t the same
- comparison of UK and US investments
- misunderstanding pensions
- mentally spending a non-existant windfall
*by best I mean favourite and written by plonkee
Mar
29
pfblogsround 29th March 2007
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This week I have mostly been reading the following personal finance blogs:
- save money with your feet @ get rich slowly. One of jd’s readers sent in a tip to cut back on transport costs and put the money you don’t spend into savings
- one idea that could save you millions @ freemoneyfinance. Simple, move to a cheaper area. Seriously consider getting out of the metropolis and into an area with cheaper housing.
- killing your credit with a subprime loan @ the digerati life. Silicon Valley Blogger’s take on the US subprime mortgage crisis
- money discussion still uncomfortable @ make love not debt. Him and Her exemplify good relationship finance, but they’re still not perfect. Are kitchen graters a joint or individual purchase?
- three reasons I will never be rich @ lazy man and money. lazy man shares his (minor) shortcomings with the world. I think he’ll make it to true wealth despite these
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