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Letting Enough Money Be Enough

July 6th, 2014 at 06:30 pm

Having more money is always better. It has to be and I cannot argue with that. But having more free fun time is also better -- and I hope no one is going to argue with me about that. The problem is that those two very desirable goals work against each other. Time is money and money is time(1*), so to have more of one you have to accept having less of the other. The trick to solving this dilemma is to find a balance point between money and free time that is personally acceptable. I am still groping for that balance point, but I am getting closer to an answer that works for me. Here is where I am at so far.

Declaring money victory has been hard for me. I reached the point of having and passively making more money than I need a good while ago(2*). But I kept on trying to make more money. I then reached the point of making double the passive income that I need to cover my baseline living expenses. But I still kept trying to make more money. Then I finally found myself with a steadily growing pile of discretionary money(3*) and not enough want-to-buys to spend the money as fast as it comes in(4*). And that is what has made me pause and think. What in the hell would even more money be for?

More security from more money would be marginal. I have already laid in ample financial reserves(5*). I have arranged insurance to cover just about any eventuality(6*). And I have a multilayered financial defense plan in place(7*). So, if increasing my cash flow further will not result in a significant boost to my financial security, what in the hell would even more money be for?

Money to buy more free time is already there. I could use money to hire out chores and projects that I could do myself but that I either have no time to do (what?!) or that I find bothersome to do. Chores like cleaning house. Or projects like replacing all the door framing on our garage. But the fact is that I already have surplus cash to contract out those things(3*). If I am not hiring out such tasks it is because of some mental block, not because I need more money. In which case, what in the hell would the extra money be for?

So... if more money will not give me more meaningful security or buy me more free time, is it a smart use of my limited life time to spend it making even more money for which I do not have a purpose? Why not just use the time to have more fun or relax more? To take another hike(8*). To read another book(9*). To play another pc game(10*). Why not let enough money be enough?

The takeaway (so far): Money costs time out of one's life. And life time is limited and precious. As much as possible of that life time should be spent living, not laboring for money that will not add anything meaningful to one's life.

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(1*) My Unrecoverable Cost of One-More-Year:
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(2*) My Financial Independence Key:
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(3*) A Discretionary Fund, Not a Discretionary Budget:
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(4*) Making Sure I Spend That Money!:
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(5*) Making Over My Reserves Plan:
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(6*) My Stash-Shielding Insurance:
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(7*) My Six Lines of Financial Defense:
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(8*) My Love Affair With Hiking:
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(9*) Time Traveling With History Books:
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(10*) My Strategy Games Rainy Day Passion:
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