Years ago, John and I saw a financial advisor who asked us to look at where we wanted to be and what we wanted to achieve in 5 years and then 10 years so that he could help us plan our financial situation accordingly. He told us that being comfortable financially is more about your expectations and what you consider "enough" rather than any dollar amount.
He said it's more about what you feel you need rather than how much money you actually have.
I like to think he was right.
When asked how they would know when they are actually wealthy, many people say "when I can afford to do what I have always wanted to do".
So, combining these two - How do I want to be living my life in 5 years time – What do I want to be doing?
I made a list of how I'd spend my time when I can afford to do what I want.
You may discover that you're already wealthy, or at least closer to it than you thought.It's clear from this list - My favourite things don't actually cost much money - like walking along the beach, playing in the garden, painting, spending time with John and Missy. Then there's the myriad of things that have been put on the back burner for years (because I work long hours) or that I've never done but think I might like to. Most don't need a lot of money. Most simply need for me to find more time. There's a couple of things hidden in that list that would cost quite a bit. I'll call them optional extras for now.
I do, of course, need money for food and bills and I will need to have enough to keep paying the bills when I no longer have a wage - so for now I will keep working - cos even if they aren't on my list, having electricity and food is kinda important to me as well.
“That man is the richest whose pleasures are the cheapest. ”Henry David Thoreau