Hey Money Glee readers, we have a short and sharp thought piece followed up by a great blogger in our talk about them series. Here's a suggestion on how to decide on when enough is enough:
- Calculate your current expenses; break these into the following:
- Needs (including things such as rent, electricity, food, insurances etc)
- Wants (including Netflix - we know haha, gym, fancy clothes, shoes, magazines, tech etc)
- Get clear on how much debt you are currently paying
- Understand how much you are generating from investments and what sort of emergency fund you have
- Get clear on the type of lifestyle you want to have in your "retirement"
- Continue to work until you've created the cash flow and or are confident about the amount of equity you have to "retire"
- Consult someone who can help you to understand if your plan holds up. It's important that this person understands Financial Independence
The above is not a comprehensive list and is a starting point, what are your thoughts on figuring on when you financially have "enough"?
What are your thoughts on deciding when enough is enough?
Now that we've tackled that game changing question, what we're continuing to do here at Money Glee is to continue acknowledging people in the personal finance (PF) & occasionally the broader blogging community, who are doing awesome & cool work!
We want to keep paying it forward & giving more back, so every second Thursday of the month there'll be a talk about them post.
On the blog this month we've got Zach from over at Four Pillar Freedom. Zach is a young guy in the personal finance community although we can confidently say that he'll be making waves moving forward. Between his mindset and side hustles Zach is kicking personal finance butt. Check out his blog!
If there's any great bloggers out there you can suggest, we'd love to read them too
We'd love to thank everyone reading, be grateful for all of the comments, likes, shares etc and ask that if there are any topics you'd like to read about related to personal finance or life, hit us up.
Did this help you? If so, please share!
Any questions, comments you had about personal finance definitely let us know as well :). Remember to live your Money Glee!