Should we aim for financial freedom and have no social life? (How much material wealth is enough?)

UPDATED:
Reader:
"Hi AK,  I have been a reader of your blog since 2014 and I start to do invest. 

"Sometime I am worry that my investment would fail and become failure in life. 

"Since then I try to avoid having girl-friend because I scare that one days I mind be a liability to wife and girl-friend.

"should I continue to invest for financial freedom and be frugal and give up on society life."

AK:
"This is very personal. No one can advise you on this. Do what you feel is right for you."

Please don't ask me questions like this. I also blur.











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AK said...

This is something I have thought about before.

I am not sure but I don't think I will feel sad or jealous if I were to attend gatherings where friends show off how well they are doing materially. 

They made their choices in life and I made mine.





I don't avoid social gatherings per se but I am very selective these days.

I have grown to enjoy my own company a lot more as I grow older. 

I like a quieter and simpler life.

Having fewer relationships in life promotes quiet and simplicity. 

However, no man is an island and I only maintain relationships which matter more to me.










When it comes to money, although we are all made differently, all of us need money in this modern world of ours.

However, it is good to remember that we only need so much money in life. 

This simple fact is lost on many as they pursue more material wealth than really necessary.





How much is enough?

How much is more than necessary?

The answers would differ from person to person, of course.

Whatever the answers might be, materially, we want to be comfortable while, financially, we need to be secure. 

Achieving this will give us peace of mind and I am sure we will feel happier then.

If we have achieved this, it is enough.




...

Related post:
A story about a lady in my life.

Just be a better saver and forget investing for some.

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  Reader: I am currently 28 years old earning annual income of around 240K. Not sure whether doing SA contribution of 7K per annum and SRS 15.3K per annum is a wise move for my current age? Main purpose is to get income tax relief as much as possible since I am in high bracket tax payer and this contribution might be able to save quite a lot on income tax
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  Assi AK: As long as you are paying a lot in income tax, it makes sense to do MS Top Up to SA and to contribute to SRS. You don't really need to invest. Just be a good saver.
  

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  Reader: But it is a long long way to go before i can see the money again for CPF at 55 yo and SRS at 62 yo. what if i die before that? Lol
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  Assi AK: The money goes to your loved ones. ;)
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  Reader: i dont get to enjoy the hard earned money then
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  Assi AK: You cannot have your cake and eat it too. You have to question what is more important to you.
• Reader: I plan to have financial freedom like u by investing for income
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  Assi AK:  Everyone is different. Dun be like me. ;p
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• Reader:  I can save around 150K a year after deducting all the expenses including income tax. Slowly buying solid dividend stocks to hopefully get sizeable passive income like u
  
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  Assi AK: Sounds like a good plan.
  

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  Reader: I seriously think your strategy is good that's why i follow
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  Assi AK: If this is more important to you than getting income tax relief, well, you have your answer. :)
• Reader: I am super conservative and not risk taker as well
  
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  Assi AK: If you are investing, you are taking risk.
• Reader: Haha true
  
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  Assi AK: The only risk free way to building wealth is the CPF. ;)
• Reader: CPF top up is risk free but not sure worth the wait and lock up of cash
  
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  Assi AK: Well, you know my answer to that. You have to decide for yourself if you believe me. ;p

Related posts:
1. Want to create another stream of income?
2. Should a young person contribute to CPF or SRS account?
3. Should I top up CPF-SA, CPF-MA or SRS account?