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Author Topic: How much money is enough money?  (Read 1972 times)
Rruchi man (OP)
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February 14, 2021, 09:21:55 AM
Merited by Welsh (2), hugeblack (2), ETFbitcoin (1), CryptopreneurBrainboss (1)
 #1

The chase for money especially in this dispensation is never ending. People are willing to go all out and do anything (legal and illegal) for money these days. The real question that i am forced to ask is, how much money is enough money?

At what point will one say that he or she has had enough money?
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February 14, 2021, 03:10:46 PM
 #2

Well, for me, if you have to do illegal things, then no money is enough money. You can live happily working or investing in legit projects, so there is no need to go shady.

On the other hand, for a typical life, I guess that 1 Million is enough money, at least for me. Having your house paid, maybe another one in order to rent it, and plenty of money to spend for your entire life; well, this is if you don't have expensive hobbies, at least, but it is not my case, I am happy with little.
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February 14, 2021, 04:17:01 PM
 #3

At what point will one say that he or she has had enough money?

It depends a lot by each and every person, since with more money at hand people always tend to spend more. And the country they are living in.
I've read somewhere many years ago that a study concluded a number around 3M USD, iirc.
Then some may count it by the yearly income they'd expect multiplied by the life expectancy. This depends also by the size of household, but I think there again the number is at least 1.5-2M USD.

Lately many tell that the number could be much simpler: 1 BTC. But they may be just dreamers and we get into speculation.
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February 14, 2021, 04:53:08 PM
 #4

At what point will one say that he or she has had enough money?

It depends a lot by each and every person, since with more money at hand people always tend to spend more. And the country they are living in.
I've read somewhere many years ago that a study concluded a number around 3M USD, iirc.
Then some may count it by the yearly income they'd expect multiplied by the life expectancy. This depends also by the size of household, but I think there again the number is at least 1.5-2M USD.

Lately many tell that the number could be much simpler: 1 BTC. But they may be just dreamers and we get into speculation.

There are many factors to consider here. One of them is life expectancy as it has been mentioned, also current expenses/lifestyle.

Personally, as far as I'm concerned, I would divide the question into two:

1) How much is enough money to ensure financial stability on the day I die.
2) How much is enough money to live a dream life.

For 2) I would need much more money than for 1).

I'll probably achieve 1) by myself, with my current saving/investing plan.

I'll probably won't achieve 2) unless I'm really lucky or something, so I guess I'll never have enough.

This being said, I'll rest easy enough getting 1), knowing that I'm better off than most people.
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February 15, 2021, 05:07:54 PM
 #5

That´s like how many cars are enough. A lot yes, enough never.
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February 16, 2021, 02:55:06 AM
 #6

At what point will one say that he or she has had enough money?

If you have a certain mental illness, which a lot of alpha males do, you will never have enough.  Greed will drive you for more.  Example:  One of the first things OG bragged to me was "I'm set for life."  but he continues to scam.  

If you have an extra 90 minutes, it's explained very well.   Greed drives 70% of all crime.
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February 16, 2021, 05:48:54 AM
Merited by ETFbitcoin (3)
 #7

thats the game.
there is never 'enough'

governments say their social security benefits for the poor are 'enough' for them to live/survive on.
but anyone getting a minimum wage which is usually double governments minimum 'enough' social benefit know the social benefit is not enough purely because minimum wage(2x) is still not enough

there's the ex president that got paid $200k a year. and that was not enough. he had to syphon funds from the RNC donations.
..
the game is simple. once you attain a certain level of income and thus a level of lifestyle. the world is so vast that there is always more things/experiences that you want to achieve. thus always needing more money to attain the next level.
EG you initially plan on a hobby of hiking a mountain... then you spot people base jumping off the peak and suddenly you want to try that too.
..

alot of people try to break the game, by thinking that if they can calculate how much is left of their mortgage and then calculate how many years they may live for. and put a salary amount to those years left. and total it all up. then they can say XX is enough
but dare they ever get to a position of attaining that amount. suddenly their new lifestyle of not needing to work for it. allows them more free time to want to try new things.. which cost more money.

its like working minimum wage $300/w ($7.50x40h) thinking.. if you can get paid $300/w just to stay home you then have more free time for hobbies or more vacations.
but a vacation ends up costing $1500 a week all inclusive. and suddenly you feel the need for a 5x of your initial plan just to have a vacation lifestyle

in my view (from last decade before bitcoin when i did work) i thought a $50k a year income for the next 40 years would be 'enough' ($2m)
but now im hoarding a nice hoard of bitcoin. $2m doesnt seem enough
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February 16, 2021, 09:43:57 AM
Merited by Welsh (4)
 #8

This question might not ever be answered in its entirety and it really depends on a person. For instance, we have seen some people get some unexpected money from the recent Gamestop controversy on the stock market and I have seen testimonies of people that cashed out just to pay their medical bills (or for their loved ones), pay their student loans, or pay their mortgage and that is it. From their perspective, them being able to afford those things and only those things made them somewhat rich, because, in the end, it's not the accumulation of capital but the option to take care of all or any immediate crisis without going further into debt that makes you a wealth person. Accumulating wealth means nothing when we play with made-up money written on a computer screen (and that goes with any currency in the world that operates in this manner, and besides gold, I believe all else do), it's just a game of chicken in the and to see who blinks first and cashes out at the right time. What matters is how that enriched and made our lives better.

I will leave you with some quotes from Marx that can shine some lite on this

- Marx himself makes it clear that he does not start from a basic concept – value – but from an elementary material phenomenon – the commodity – which is at the basis of capitalism, as the only economic organization based upon generalized commodity production.

- Money itself is a commodity, an external object, capable of becoming the private property of any individual. Thus social power becomes the private power of private persons.
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February 16, 2021, 06:28:14 PM
 #9

No much money is enough that is why rich people are still getting richer which means their greed towards money never came to an end.
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February 18, 2021, 11:45:32 PM
 #10

The chase for money especially in this dispensation is never ending. People are willing to go all out and do anything (legal and illegal) for money these days. The real question that i am forced to ask is, how much money is enough money?

At what point will one say that he or she has had enough money?

An ideal person or a person who knows how to handle money well set a goal to stop.

A person who does not get contended will lose it there is no such thing for people who wants money to get rich and want money is enough. We run the world with money people need money the rich work even more because they want to be stable and earn more but if this rich person is nice she or he will know how to share.

For the legal way, they know how to handle but it's not enough why? because they know money is unstable plus like I said if they are nice they will know how to share but they would still work for money to earn more.

For the illegal way, those are the greedy persons who don't know what is enough and have now a goal to do good which is simply illegal.
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February 19, 2021, 12:31:09 AM
Merited by Welsh (2)
 #11

An ideal person or a person who knows how to handle money well set a goal to stop.

yes the ideal logic is 2x your salary.
1x means you can stop working and still get your income
1x for the new things you want to do with the new free time you have

but sometimes logic can surprise you.
once getting this logical 'contented' amount of 2x. your aspirations then raise up a level and your new higher level requires new standards and thus new income level.

EG
when your 20 you think if you can just get $300/w (~$7.50x40) then you just dont need to find a minimum wage job to survive,
bu then having that no-work lifestyle. and being 20. you want to hang out at bars and impress women. so you start spending more than you would if you were working and just going home each night.
so now you want $600/week(your 20yo ideal contented 2x lifestyle)

then at 21 you settle down with a woman and decide to get serious. marriage/kids. and suddenly more income is needed.
($10k wedding booked in 6 months needs over $400 a week saved up)
heck a $2400 a month wont pay all the bills and afford you a 3bedroom family home
after all your 20yo life only cost you $50 in food. but now your paying out $200 in food for you, wife and 2 kids. your electric and water has increased 4x too due to your family. so suddenly $1200 a week feels the same as $300 when you were single.
so yea maybe you think if you had $3600 a month, you can have $1200 a month extra spare cash. but that will only get you a $200k mortgage over 15 years. not exactly gonna get you a nice place you want to have your kids raised up in.

so when you were 20 thinking $300/w would be enough. a couple years later suddenly $900/w($3600/m) aint enough

$300/w might be ok if your content on being single all your life
but i guarantee you this. calculating a content life at 20 wont be a content life at 30
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February 19, 2021, 10:20:36 AM
 #12

There is no exact limit to the money that could ever be enough. Your either earning and spending or dead!
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February 19, 2021, 10:34:25 AM
 #13


You might not really learn how much money is enough for you until you learn how to keep a low profile in the public but still have the money kept in secret. You wouldn't want to attract much even your online activity and spending habits offline so having just enough in your pocket to buy the things you need will make you look content.
But once you have a family to impress and feed, you may never really feel the day you can think of $100M be enough.
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February 22, 2021, 07:38:10 AM
 #14

There is no benefit to having more money than you will spend. I think that having enough money to fund a better lifestyle than what you currently have for the rest of your life is enough. Of course, that will be a different amount for each person.
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February 24, 2021, 03:46:42 PM
Merited by Welsh (4), ETFbitcoin (2)
 #15

"Enough" for what?  Enough for yourself?  Enough for yourself and your spouse?  Enough to educate, feed, and otherwise take care of your children (or grandchildren, and on down etc?)?  Enough so that they'll never be homeless?  Enough so that they can get two graduate degrees each?  Enough so that they can live in a nice house vs Bill Gates' house?  (Enough so that they can fly private jets like Bill Gates, Warren Buffett, Al Gore, John Kerry, all the while lecturing everyone else about global warming?) 

Enough to take care of and help fund things you believe in? 
e.g. Bezos, Elon with Blue Origin and SpaceX. 
Hal Finney with Alcor.org (and the necessary technologies to help it work)?  Enough for Hal to take care of his family now that he is gone, fund them at Alcor, revive them and then ensure they won't be in poverty when/if it works?
People funding charities they support - Carnegie with libraries for example.  Gates with vaccines. 

So it really depends on your goals how much is enough.

I will say, if you have to do something illegal, it isn't worth it.  Just ask Bernie Madoff and his ilk.

My view:
- private jets?  who needs them, just conspicuous consumption.
- A 300 foot yacht? Ditto.
- A 300000 square foot house?  Ditto.
- 10 cars?  Ditto.

A nice, well built home with a nice, safe car, that is sufficient for me.  Being able to pay for kid's (and their kid's) educations, helping them that is good too.  Helping to start a charity to help the sick, and fund some of it, that is nice too.  Being able to help the elderly, that is nice too.  Helping people via things like "March of Dimes", ditto.

It is certainly better to have individuals make these choices for themselves than to have some bureaucrat who hasn't ever earned a living make it for everyone.

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February 25, 2021, 08:42:44 AM
 #16

If we will be relating this to something, for example, a car, the price of it is enough. Exceeding that price is too much.

Since we are talking about how much a person could have or could earn to live, I don't think we should actually say that there's an amount which is enough. As long as they are alive, they will keep on earning so for me. They may have too much to buy a house or a car but as long as they are living, they will still earn money.

People have this timeframe to keep earning even though they have too much money. That timeframe they have is the same amount as their lifetime.
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March 09, 2021, 02:00:51 PM
 #17

If we will be relating this to something, for example, a car, the price of it is enough. Exceeding that price is too much.

Since we are talking about how much a person could have or could earn to live, I don't think we should actually say that there's an amount which is enough. As long as they are alive, they will keep on earning so for me. They may have too much to buy a house or a car but as long as they are living, they will still earn money.

People have this timeframe to keep earning even though they have too much money. That timeframe they have is the same amount as their lifetime.
If someone is having a Toyota then they will be earning more because they want to buy a mid range Luxury car and one who have that mid range car will be keep earning to buy a Rolls Royce or Lambo and one who have Lambo will be keep earning to buy a private jet and this keep going forever... Cheesy
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March 19, 2021, 05:39:02 PM
 #18

In these days every person is chasing to money, everyone want to earn money with any method(legal or illegal).
The limit for money is to have enough money to survive luxury and happy life.
If someone has cycle then he will earn for bike, if he got bike then he will earn for normal car if he got normal car then he will earn for expensive car and this keep going forever...
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April 03, 2021, 08:47:37 AM
 #19

Well, for me, if you have to do illegal things, then no money is enough money. You can live happily working or investing in legit projects, so there is no need to go shady.

On the other hand, for a typical life, I guess that 1 Million is enough money, at least for me. Having your house paid, maybe another one in order to rent it, and plenty of money to spend for your entire life; well, this is if you don't have expensive hobbies, at least, but it is not my case, I am happy with little.

If you are talking about dollars - 1 million dollars, then that is really a big amount of money here in the Philippines. One million dollars is almost 49 million Philippine Pesos so I can imagine if someone is that rich then he will be able to buy the things he can have like a house and a car and a small business. But that is not enough if you are planning to buy several houses and estates and parcels of land and a beachfront to make a resort business out of it. You need at least maybe 3 million dollars so that's almost 148 million Philippine pesos so for me that is my dream.
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April 22, 2021, 03:13:32 AM
 #20

Once we are alive we need more money, more cash flow, that's how our needs and wants increases, our problems increase too. For me the only time I can say I have enough money is when all my circle of friends are doing great,my family, relations, my parents are all financially free,then I can I have enough money.
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