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16
RWSGFY
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2023 Apr 7, 12:08pm
RWSGFY
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2023 Apr 7, 12:08pm
komputodo says
Pretty much.
RWSGFY says
komputodo says
mell says
Though being financially independent makes one happy,
what does "being financially independent" mean to you?
I think the definition of financial independence is universal: ability to maintain a desired lifestyle w/o need to work.
So a person doesn't need a set amount of money to be financially independent. Some may need 5 mil and others only need 50k. The ones that need 5 mil though are the ones that spend most of their lives busting their asses trying to get there.
Pretty much.
17
mell
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2023 Apr 7, 1:05pm
komputodo says
Having enough money for the entire family while not depending on a full time job.
mell says
Though being financially independent makes one happy,
what does "being financially independent" mean to you?
Having enough money for the entire family while not depending on a full time job.
18
komputodo
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2023 Apr 8, 9:13am
komputodo
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2023 Apr 8, 9:13am
mell says
What does fully retire mean to you? Does it mean to not "work" anymore? What is "work" to you? If you enjoy being a chef or an artist or repairing electronic devices and get paid to do it, is that considered work? That you need to stop doing what you enjoy doing to call yourself retired? Or does working mean doing something that you don't enjoy but do it just for the money?
I'll never fully retire cause I like what I do, but set a hard stop at early semi retirement. Leaving CA will likely be a part of it ;)
What does fully retire mean to you? Does it mean to not "work" anymore? What is "work" to you? If you enjoy being a chef or an artist or repairing electronic devices and get paid to do it, is that considered work? That you need to stop doing what you enjoy doing to call yourself retired? Or does working mean doing something that you don't enjoy but do it just for the money?
19
B.A.C.A.H.
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2023 Apr 8, 3:01pm
B.A.C.A.H.
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2023 Apr 8, 3:01pm
Onvacation says
One of the challenges I have with these concepts is using the fiat USD to assess situations.
It matters more how you spend your money than how much you make. For the San Francisco Bay Area a good household income would be $150K. You probably wouldn't be buying a house at that salary but you could live a comfortable enjoyable life.
Our household makes around $180K and, in my opinion, we live very well.
One of the challenges I have with these concepts is using the fiat USD to assess situations.
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Raises several questions.
1) What is a "good" salary these days?
2) What, if anything, should be done about the increasing wealth gap?
3) Given the rising cost of living, do you expect wages to finally start rising for thoes who remained employed during this mast recent economic downturn?