that is the question. how much is enough? what are you all trying to achieve ?
Let me ask another.
Once achieved will it make you a happier person?
why ?
interested in your replysregards
I cant speak for other people but I think most of us are looking for self-funded retirement and the ability to be able to maximise the funds we receive from our labour and ensure that it is invested to provide us with a passive income stream for the future. For one person this may be a passive income stream of $10K while for another it may be a passive income stream of $500K. It all depends on what you want to do and how much that will cost. If I want to travel First Class around the world 365 days a year staying in 5 star hotels then the later will probably be required.
Will it make us happy. Well in and of itself of course not. Happiness is found in believing in oneself, living your dreams (and these dreams don’t have to cost money – it can be as simple as watching a sunset over Bondi Beach – free), caring for your friends and family and trying to help others as we share this world for a short period.
Investment is just about maximising our funds and knowledge to provide something for the future.
How much is enough for me?
Well, I have no concept of earning more than $50K per year, so at the moment that will be ‘enough’. However, I know that I want more than my existing lifestyle, and so i reckon I need at least 4 times that to be able to travel, own my own home(s), and provide for my family members.
Will it make me happy? Good question. But I can surely say that it will not make me any less happy than now, and if I do it right, and am true to myself, I’m sure I will be happy[specool]
Cheers
MelMel
Wow my wife spends that per month.
Cheers Richard
richard at fhog.com.au
http://www.fhog.com.auThere is no such thing as a problem.
Just a solution waiting to be foundRichard Taylor | Australia's leading private lender
I guess I am in the relatively early stages of my property investing career, so I am trying to establish a significant enough portfolio to provide me with options in the future.
Not being married, I see the next five years, as fundamental to buidling on the portfolio already started a few years ago. So whilst I would hope that there is ability to enjoy some of that money, it is primarily designed for the future benefits.
The money in of itself will not make me happy (in a life sense), but will allow open options and choices that my parents didn’t have.
Maybe even that sports Mercedes… [thumbsupanim]
JamesFirst i would like to replace my present income so i did not have to work for someone else, then work towards a comfortable retirement.
I believe at this stage i would be happier when i have achieved this.
FostonLife is a series of new beginnings
Well ya know, most people collect something. We collect houses. It is fun!
When I am rich I doubt I will lose my love of finding a bargain or rummaging around flea markets and garage sales.How much is enough you ask. Dunno…tis the process that is fun. All in the chase [wink2]
As for happiness, that is free and available now if we so choose.
I agree with all the previous replies. However, my personal motivation is twofold.
1)Financial security for retirement. I don’t think any one will argue that the pension will be a viable option to provide a remotely comfortable retirement. By the time retirement comes around, and having worked for the best part of 45 – 50 years, [glum2] raising a family and keeping an eye on the pennies most of the time, I look forward to my wife and I being able to live comfortably for our efforts. [strum]
(my eldest daughet always says she is going to put me in a nursing home when I get old, so I will need the passive income to pay for that)[lmao]2)Further, property investing, apart from the financial rewards, also provides a stimulating interest outside of work life, which can then be carried right through into retirement to provide a profitable interest and purpose. After all, we all need a reason to get out of bed in the morning, and probably more so in retirement.
On the subject of happiness, we all set our own different goals in life and place a differing importance on each of them. Achieving my goals will provide satisfaction and a sense of achievement, which I believe everyone looks for, but will not necessarily provide happiness. I echo the thoughts of Aussiemike on this.
“Will it make us happy. Well in and of itself of course not. Happiness is found in believing in oneself, living your dreams (and these dreams don’t have to cost money – it can be as simple as watching a sunset over Bondi Beach – free), caring for your friends and family and trying to help others as we share this world for a short period.”
Happiness is in the heart, not in the wallet.
Anyway, enough of my thoughts, what about yourself Freedomfinder, what are your thoughts on the subjects you raised?
regards
RonOriginally posted by freedomfinder:that is the question. how much is enough? what are you all trying to achieve ?
Let me ask another.
Once achieved will it make you a happier person?
why ?
interested in your replys
regardsWow freedomfinder,
You got me – that is really quite thought-provoking! [blush2]
It is a real toughie I guess, because (for me, anyway) whenever I reach one of my goals, things change. I either realise that it’s not as good as I thought it would be, or at times, it is far better than I could’ve imagined. In short, life is full of surprises and there are just no guarantees (at what you will find at the other end).
What makes me happy today, may not make me happy tomorrow, and certainly what made me happy 20 years ago, doesn’t cut it for me today.
So I guess, I will just have be content with what I have now, enjoying the present with all its trappings; loving family, good friends, good health and the joy in looking forward, to an even better tomorrow.
I won’t insult you by saying how much doesn’t matter, but I will say, that without all the abovementioned blessings, all the money in the world couldn’t make me happy.
Cheers, [biggrin]
Jo
Freedomfinder, you asked some very personal questions. I hope we will see your responses as well.
How much is enough?
It is never enough, because the fun is in the challenge not in the results. First comes the million, then the billion, then who knows?Trying to achieve?
Again, achievement and success are a journey that must be enjoyed.
Will reaching a goal make one happier?
No. Happiness is in succeeding every day one step further, not in achieving one goal and then sit back. Such goal will soon lose its attraction. That is why we must “aim at the sun”.May God prosper you always.[biggrin]
Marcfreedomfinder :o)
In financial terms, I reckon having my salary and about that again from RE investments would be about right for me
But it would take me to retirement to actually get that from RE. Meaning that I’d have to actually have my IP’s paid off to get that kind of money. I’d have to double the amount of IP’s I currently have to get the rental returns to equal my current salary, but what is the point of having rental returns if they just pay off your mortgage? So I’ll probably be able to buy the IP’s I need in the next few years, and then have them paid off in about 15 years Then I can retire with super plus my current salary- modest financial notions, but I’d be stoked with that outcome!! [biggrin]kay henry
A wise friend (and mentor) once said to me:
If you are not happy when you are poor, then you will never be happy when you are rich.
I have to agree….
exellent responses,
as for my situation, I also agree that happiness is found within.
most millionares i know (I know several) more than half of them are miserable bastards so I think that wealth can only free you from the things you dislike. It cannot really make you happy on the inside. What makes me happy on the inside, well the love of my wife, my kids, having goals to work towards, being needed, recieving respect, helping others and enjoying what freedom is left. yeah I think that sums me up.
so how much is enough?
well so long as Im happy I will keep going forward, one step at a time.
But it would take me to retirement to actually get that from RE. Meaning that I’d have to actually have my IP’s paid off to get that kind of money. I’d have to double the amount of IP’s I currently have to get the rental returns to equal my current salary, but what is the point of having rental returns if they just pay off your mortgage? So I’ll probably be able to buy the IP’s I need in the next few years, and then have them paid off in about 15 years 
You must be logged in to reply to this topic. If you don't have an account, you can register here.
