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I met three friends for lunch a few days ago.
They are all financially free, having sufficient passive income to meet their expenses in life and more.
They do not spend time chasing after money now.
We talked about a mutual friend of ours who is richer than any of us but seems to be more interested in getting even richer faster, sacrificing what we thought were more important things in life in doing so.
We only need so much money in life.
The rest is for showing off.
To be financially free, ultimately, is to be free from working for money.
What is the point of having more than enough money but not enough time to live life the way we want to?
Life is too fragile and I decided to be nicer to myself after a series of unfortunate events which happened in the last couple of years.
A friend told me some time ago:
"You worked so hard for financial freedom. You have the resources to do whatever you want to do now. You should."
Yesterday, I said something similar to another friend who has achieved financial freedom but still drags himself to work because he thinks he doesn't have enough money.
For some, it could one day be a case of having too much money and not enough time.
We should know when we have enough money so that we can have more time.
How Jack Ma sees his retirement?
“When I retired from the CEO position, I told the CEO team (in 2013) I should have more time playing golf on the beach.
“But I find, oh my God, spent 870 hours in the air last year, and this year, 1,000 hours,” said Ma.
“The thing is, I don’t want to die in my office. I want to die on the beach.”
He famously said his “biggest mistake was I made Alibaba”, because of the enormous pressure and responsibility he has had to shoulder to steer the US$420 billion company with more than 86,000 employees.
“I was just trying to do a small business and [not] grow that big, take that many responsibilities and get so much trouble.
“Every day is like being as busy as a president, and I don’t have any power. I don’t have my life,” Ma said. (Source: SCMP)
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14 comments:
Hi AK,
Sharing this quote by the Dalai Lama that fully explains mankind. :P
http://i.imgur.com/H9zh4pN.png
Hi AK,
How do you determine if money is enough to last your lifetime? Do you have any formula?
Thank you.
Dear AK,
Yes, sometimes it is indeed right to pamper one's self, especially after achieving one's financial goals. After all, isn't the point of achieving financial goals is to have the time to enjoy life? As long as one continue to show discipline in managing one's spending habits such that it is sustainable, it is fine.
Hi AK 71,
Not sure whether this is an appropriate question for you. How much does a family (Annual expenses is about $48K) should have (inclusive of CPF saving) to be able to call it a day (quit from a rat race)?
Thks.
Ben
Hi Kevin,
Om Amitabah. :)
Hi TFP,
See:
Retirement planning.
We have to determine how much do we need per month first. Then, we will have an idea.
Hi MT,
Yes, sustainability is key. :)
It would be terrible to have to go back to work for money.
Hi Ben,
Well, the kiasu AK way is to see if all our assets together generate at least $48K a year in passive income. You can include CPF savings in the equation if you are 55 and above, of course. :)
Hi AK71,
Do you mind to share how your 3 friends achieve financial freedom? It might be another encouraging stories for those who are still in the journey to achieve it. Thanks.
Hi MSA,
It would be theirs to tell. :)
Jack Ma famously said last year that his ‘happiest moment in life was making just 91 yuan (US$13.26) per month as a poor schoolteacher’
Source:
https://www.scmp.com/business/china-business/article/2163613/would-rather-die-beaches-my-office-thats-how-jack-ma-sees
Ah Jeff says...
How about AK happiest moment in life 😁
李蓁稹 says...
Should be at this stage of life...plays games ..doing things that he enjoys..😄
Wong Yixiang says...
Agreed. Must have a balanced life ah.. be a good person, contribute to a cause you care about, exercise/work out etc.
Like what Thanos said, “Perfectly balanced, as all things should be.” 😂
Hi AK.
Life is more important than money which is a tool towards making FIRE a reality for one.
Ben
Hi Ben,
We only need so much money in life.
The rest is for showing off. ;)
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