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It might be a dream if the feeling of security, of having assets, money in the bank, is the thing that's missing in your life. That'll be the case to the degree

It might be a dream if the feeling of security, of having assets, money in the bank, is the thing that's missing in your life. That'll be the case to the degree that you were insecure and poor as a child, I'd expect. I grew up poor, but not as poor as the lady in the article. And it was in Ireland, so there was a social security net, my college degree was paid for, etc. So I feel comfy enough once I have a year's take-home income in the bank. Past that point I feel good spending money on things my partner and I enjoy, things we may not have time for if we have kids or might not be able to do at all when we get old. Working hard is only good if the work in itself is rewarding, or the money buys you things that are rewarding. Money in itself doesn't really have that allure. A six or seven figure bank account wouldn't excite me - I've spent the best part of a million pounds since I started my career, and certainly don't regret not saving it.

nugget 7y ago
Proponents of financial independence would say that high savings rates eventually buy you control over your own time which is one of the most rewarding things in the world.
- pm90 7y ago
  It depends on specific circumstances though doesn’t it? The view of these proponents is usually that if you can max out savings for 10 years or so by living extremely frugally, the next 40 or 50 years of your life can be lived without having to seek employment, which seems reasonable if that’s what you care for. OTOH many people find their careers soar with time, as they build experience, empathy and learn their way around how the corporate world works. The financial rewards get larger, but more interesting is the opportunity to solve tough technical problems (well, for me, as an engineer). I also find it a little wasteful to not enjoy ones youth, which is not a time that will come back, and is likely the only time where you can experience life somewhat unattached and figure out what kind of partner would work best, what kind of personality works best, which city is a good one to lay roots etc.
tyrust 7y ago
>Working hard is only good if the work in itself is rewarding, or the money buys you things that are rewarding. This is a pretty restricted view of turn power of money. Charity and/or helping one's family is rewarding. Also rewarding, as the other commenter pointed out, is the freedom to not chopse between non-rewarding work and poverty.
- barrkel 7y ago
  Charity is something money buys. The freedom to choose doesn't require enough income for a frugal lifetime without work. It just requires enough income to find a more rewarding job. The marginal benefit declines, the longer you look the more likely you are to find what you're searching for. That's why I only keep a year's worth of takehome on easy access (apart from my pension, house equity, etc.) A life without a job is a life without purpose. People who retire early die early. Even outside a conventional job, money is proof that you create value; if there's no money in whatever activity you choose, it's probably a consumption good.
  - tyrust 7y ago
    I pretty much disagree with every point here, but we don't need to get into it. You do you.

nugget 7y ago

Proponents of financial independence would say that high savings rates eventually buy you control over your own time which is one of the most rewarding things in the world.

pm90 7y ago
It depends on specific circumstances though doesn’t it? The view of these proponents is usually that if you can max out savings for 10 years or so by living extremely frugally, the next 40 or 50 years of your life can be lived without having to seek employment, which seems reasonable if that’s what you care for. OTOH many people find their careers soar with time, as they build experience, empathy and learn their way around how the corporate world works. The financial rewards get larger, but more interesting is the opportunity to solve tough technical problems (well, for me, as an engineer). I also find it a little wasteful to not enjoy ones youth, which is not a time that will come back, and is likely the only time where you can experience life somewhat unattached and figure out what kind of partner would work best, what kind of personality works best, which city is a good one to lay roots etc.

tyrust 7y ago

>Working hard is only good if the work in itself is rewarding, or the money buys you things that are rewarding. This is a pretty restricted view of turn power of money. Charity and/or helping one's family is rewarding. Also rewarding, as the other commenter pointed out, is the freedom to not chopse between non-rewarding work and poverty.

barrkel 7y ago
Charity is something money buys. The freedom to choose doesn't require enough income for a frugal lifetime without work. It just requires enough income to find a more rewarding job. The marginal benefit declines, the longer you look the more likely you are to find what you're searching for. That's why I only keep a year's worth of takehome on easy access (apart from my pension, house equity, etc.) A life without a job is a life without purpose. People who retire early die early. Even outside a conventional job, money is proof that you create value; if there's no money in whatever activity you choose, it's probably a consumption good.
- tyrust 7y ago
  I pretty much disagree with every point here, but we don't need to get into it. You do you.