3 ms·
It's relative. You obviously can live on peanuts and be happy if your expenses are low. At a different stage of life with more responsibilities and a family, y
by eloff 6y ago
It's relative. You obviously can live on peanuts and be happy if your expenses are low.
At a different stage of life with more responsibilities and a family, you need more to be happy but it's still within reach of a household income in the low six figures if you're smart about where you live and not upgrading your lifestyle beyond what's easily sustainable. The moral of the story is don't live beyond your means. That takes a little discipline, but it's worth it.
- shiftpgdn 6y agoThe point is that if you desire to live a simple existence you are one small catastrophe away from total financial ruin. I have a child who developed an autoimmune disorder. The medicine is $5000/month (insurance won't cover it, I have involved attorneys.). How many people living a simple life would be able to soak up that expense? How quickly would they draw down a savings account?
- aerovistae 6y agoExactly.
- eloff 6y agoI don't see how that's an argument against living beneath your means. If you're doing that you'll have some savings. But you'd have to have insane savings to soak up $5000/month without serious lifestyle changes.