How is financial stability defined for you?

[hatshepsut93]

To me financial stability is more of a long term thing, for example - having a job that will still be in demand in 20 years, have passive income from real estate or other safe assets. And of course the amount should be enough to cover basic needs and some extra purchases.

Financial stability is also about being resilient to economic crisis when it happens, and as history shows, they do happen regularly, so in a lifetime a person would experience multiple of them.

[freedomgo]

How do you define financial stability for yourself? Do you believe that there's a thing as too much money? With what kind of income would you be satisfied and felt successful, at least in the sector of finances. Is it the more, the better?

For me financial stability doesn't mean a pile of money. I am satisfied when I have enough money to pay all my basic expenses, to spend some on entertainment and to invest some (10%-20% of my salary). My aim is to make such a passive income that will provide all my monthly expenses. This will mean for me financial freedom, so I will work only if I want and all additional money I will invest to have a bigger passive income.

Well, having financial stability does not literally mean that you have a lots of money on hand. For me, it simply means that if i can live my life the way i want without money pressures, then i can call myself financially stable. And even if i don't have to work hard to provide my family needs for their survival, at least i have good resources that creates an income, then its financial stability. And yes, making passive income from my investments will always be a good factor to have financial stability today and in the future.

[SirLancelot]

To me financial stability is more of a long term thing, for example - having a job that will still be in demand in 20 years, have passive income from real estate or other safe assets.

Financial stability is a prime parameter which needs to be carefully handled because this only will define how we are going to lead a comfortable life based on our main income stream and savings. So, planning up anything in long-term only will help anyone to achieve the level of financial stability.

Unfortunately people are considering their current situation and if it is stable then they are assuming that they will lead their life comfortable for the rest of life. But, they need to consider the inflation rate so that they could plan up for long term.

Any plan for financial stability without considering the inflation rate will definitely fail.

[iv4n]

...
Financial stability is also about being resilient to economic crisis when it happens, and as history shows, they do happen regularly, so in a lifetime a person would experience multiple of them.

I think you are right, financial stability is about being resilient to changes, and things can change pretty fast! I guess the only way to be prepared is to diversify... to have something from everything, so when the "weather" changes you have something valuable for trading! And for sure you are right that in a lifetime each of us experiences multiple crises, so it's always a good thing to think ahead! Of course, saving for rainy days is possible only if your income is higher than your expenses! And many people in the world struggle with that...

[judaspriest]

To me financial stability is more of a long term thing, for example - having a job that will still be in demand in 20 years, have passive income from real estate or other safe assets. And of course the amount should be enough to cover basic needs and some extra purchases.

Financial stability is also about being resilient to economic crisis when it happens, and as history shows, they do happen regularly, so in a lifetime a person would experience multiple of them.

More or less my definition of financial stability is the same as what you have described,
In living life financial stability is really very important, especially in today's era,
Of course it is not easy to achieve stable finances, it takes more effort

[Semar Mesem]

I think financial stability is between income and expenditure can match even income is greater than expenditure, to be able to achieve financial stability of course we have to learn a lot and invest in various types of promising investments, and I am currently investing in stocks, mutual funds and cryptocurrencies to be able to achieve this. financial stability before I was 35 years old.

[Ultegra134]

...
Financial stability is also about being resilient to economic crisis when it happens, and as history shows, they do happen regularly, so in a lifetime a person would experience multiple of them.

I think you are right, financial stability is about being resilient to changes, and things can change pretty fast! I guess the only way to be prepared is to diversify... to have something from everything, so when the "weather" changes you have something valuable for trading! And for sure you are right that in a lifetime each of us experiences multiple crises, so it's always a good thing to think ahead! Of course, saving for rainy days is possible only if your income is higher than your expenses! And many people in the world struggle with that...

I'd say the ability to adapt to the upcoming changes is possibly one of the most challenging skills of our generation. The world is rapidly changing, and we already faced it with the Covid-19 pandemic, or with the financial crisis in 2012, while there are plenty of other noteworthy incidents as well. On top of that, and this conclusion is stemming from my nearby environment (friends, colleagues, acquaintances), not all people are capable of saving money. Not because they are not earning enough, but due to their inability to handle their finances.

[Gorosden]

To me financial stability is what I called real wealth you know, having most of your money secured in investments all around the globe either real estate and others like future technologies, this is true definition of wealth which is far different from been rich

[dezoel]

https://www.youtube.com/watch?v=rJjKP8vYjpQ

This is financial stability. This is the best case that you could hope for. If you watch this, and "really" understand what it means, not really take it word by word and do that but get the idea of it, then you know what financial stability is all about. If you are comfortable but still need to work a bit to cover your expenses, but have the position of fuck you, then you are fine.

I do not need millions of dollars to feel financially stable, all I need is 100k or anything like that, could be higher could be lower I did not calculated it to be honest but that is all I care about. This means that if I am working and paying my regular stuff, and then have a side investment that covers any unexpected stuff that might occur, then I am fine. Think about it like 20% more salary for you, that is the type of stability you should be aiming at, whatever you salary is, your investment should yield 20% on top of that (number could change from person to person and nation to nation).

[oHnK]

Well, having financial stability does not literally mean that you have a lots of money on hand. For me, it simply means that if i can live my life the way i want without money pressures, then i can call myself financially stable. And even if i don't have to work hard to provide my family needs for their survival, at least i have good resources that creates an income, then its financial stability. And yes, making passive income from my investments will always be a good factor to have financial stability today and in the future.

The point is simple when the needs in your life can be met properly without the slightest obstacle even your desires are easy to obtain even with savings and so on.  Because, the main factor of financial instability in a person's life when he experiences problems in meeting his needs such as housing or to eat.But for those who are already rich, it may be financially stable when their wealth does not decrease and even increase.  It's already a different thing again right?

[Dewi Aries]

For me financial stability is more free money. I mean there are a money that i can use freely beside my savings, investment and any other assets. I think financial stability for people mostly about how much money that they have, although maybe some people said that not much money but they need to fulfil their needs first and of course not only that, they need to gain happiness and that need money.

[EvieLannister]

Stable property means freedom of wealth, no loans, no money owed to anyone. You can invest in the projects you want to invest in to ensure the living standards of yourself and your family. No money pressure. There will be a stable fund income every month. Fund income is greater than expenditure.

[habebe]

so far I have worked, saved for our future and built a small business and now it has gradually grown, it's up to us how we can make our own investment stable.  save to invest more than I do whatever I get now make your life stable just because of our stability

[Silberman]

The subject of money in particular is controversial, speaking for myself, I'm working a regular job, getting paid above average each month, while also doing some online work such as signature campaigns and staking coins on various platforms. I'm making enough money to make ends up and on the plus side, setting aside a decent sum of money from my salary, as well as any other amount earned online, is set aside as savings.

Earning above average doesn't mean that you are going perfect to secure your life to lead like how you are doing even after retirement because in almost all the countries, below average people are in more number which drags the per-capita into lower side. If you are going to reduce your requirements after retirement then your current earnings may match your requirements.

You must invest up to 20% of your earning into something which will be getting you higher interest than the inflation rate of your country. Otherwise, your standard of living may get affected after retirement.

Financial stability in my view is, earning and multiplying money in a way that we do not need to scarify anything due to inflation rate. At the same time we need to remember that stable financial level will upgrade us to higher standard of living over the time.

It is widely known that the more money is earned the more money is spent by people, which means that someone that earns above average money is not really financial stable as now they have a huge mortgage and they have to pay for other stuff they bought on credit, so to me one of the most important things we must avoid is to buy things on credit, if you can avoid that and still save an invest money then sooner or later you will reach the financial stability you were looking for.

[ivankoh]

How do you define financial stability for yourself? Do you believe that there's a thing as too much money? With what kind of income would you be satisfied and felt successful, at least in the sector of finances. Is it the more, the better?

The needs of each person are defined as limitless, the expenditure is not within the norm of worry and calculation.  Allocating budgets for everything is also a good way to gauge “financial stability.”  Of course, the flip side of that is the purposeless cash flow called borrowing and face up front.  I feel like working, investing in a store, investing in the future in bitcoin, earning, maintaining, a substantial level of income for the average person in my country.  It was a normative stabilization.
Of course, the more money the better, but it's best not to let it awaken ambition and lose control.

[Snappycoco]

Well having more than what you need and could still live even with high inflation means you have a good financial stability. Even if something happens, your financial status will not be affected and your needs are still met. Financial stability for me is about how sound your financial status even after a tragedy. And you can just obtain that by saving. Having investments for the future and having high passive income. Can be through crypto or your businesses.

[qwertyup23]

How do you define financial stability for yourself? Do you believe that there's a thing as too much money? With what kind of income would you be satisfied and felt successful, at least in the sector of finances. Is it the more, the better?

.......

What's your take on this?

I define 'financial stability' as having to provide for yourself daily without any problem of sustaining yourself. In addition to sustenance, you have extra resources that you could spend on to your hobbies and passion without even thinking twice.

I do think that there is a thing that as too much money especially if you transcended to the levels of the people in the 0.1% super rich area where they own at least everything. To be honest, I would be satisfied if my income can sustain my monthly obligations, plus I have extra resources for savings and for my hobbies also. Though some have stated that 'money cannot buy happiness', it definitely can especially if you are someone living in a third-world country!

[uneng]

I can have financial stability with any amount of money, even the minimum necessary to survive. Financial stability just means I have to respect my financial limits, never spending money I don't have or that I will miss later for emergencies.
 
Being responsible with your money like I mentioned, you will be able to grow your savings on long run, earning more and more money (from passive income) each new month. So you can upgrade your life standard step by step as time passes, always respecting your financial stability limits to not compromise your progress negatively. With the correct mindset and with access to the right tools (bitcoin), everyone has a chance to thrive, doesn't matter how much they make in a monthly basis.

[coinfinger]

Financial stability just means I have to respect my financial limits, never spending money I don't have or that I will miss later for emergencies.

Your definition of financial stability sounds like you are emphasizing about the importance of saving money for better future. Different people must be having different opinion and hence I just agree with you because without having enough money, we cannot think about a stable lifestyle so saving is more important to think about financial stability.

Always having some income stream to lead our  life stable could be defining what I feel financial stability should be like.

[uneng]

Financial stability just means I have to respect my financial limits, never spending money I don't have or that I will miss later for emergencies.

Your definition of financial stability sounds like you are emphasizing about the importance of saving money for better future. Different people must be having different opinion and hence I just agree with you because without having enough money, we cannot think about a stable lifestyle so saving is more important to think about financial stability.

Always having some income stream to lead our  life stable could be defining what I feel financial stability should be like.

Yes, to not be able to save some money at the end of the month means the person doesn't have financial stability, so savings have a very important role in an organized financial life, that is the key for improving life quality while being responsible at same time. Maybe in some cases the individual can manage to have stability, but spending everything he earns, what means he doesn't save anything. The problem with this approach is that he won't be able to fulfill any long term goals in his life. It will be eternally "tied" without any development.