retirement
what does being rich mean?
WSA adsense code -->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.
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16 comments for “what does being rich mean?”
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i agree.
i hate working too and thats what i’m aspiring towards.
for me being rich is the ability to live off my investments so i don’t have to go to work.
i’ll worry about what to do with my time, when i get to that point!
I don’t hate work, but I don’t want to do it forever. I’ve got some ideas of what I might do when I retire, but I’ve got a good 40 years to plan it properly.
You stand a very good chance to achieve your financial goal since you have a good 40 years to go. Being rich is just having the more choices on what you can do in life.
Working a regular day job is something I want to end. However, being a single mom, it is definitely not an option. I have to work and work and work and sometime get underpaid. Thank you for your insights!
IMO it’s having the ability to buy what you want when you want. Some people may not be huge spenders, so they would need less to be considered rich in their mind.
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Great tips, I would like to join your blog anyway,
Fortunately for me, this topic just happens to be something that I’ve been trying to find more info on for research purpose. Keep us the great and thanks a lot.
Theres definitely a fine balance between working hard to get to the riches, and still being able to enjoy one’s self at the present time. I struggle with that balance myself. I dont think we are alone in this though, my friends are the same way.
-Jean
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