How Much is Enough to Be Financially Free | Difficult Questions and Vague Complex Answers

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In one of my recent posts @bearmol made a very thought-provoking comment about financial freedom. Mainly posing the question of how much would be enough. How much do you really need to be financially free? Are there levels to it? Can you become more free than free? When you are not bound by spending all your hours towards generating an income, does your lifestyle change, or does it stay the same. Certainly something to think about, which I did.

And the answer is not that clear, or easy for that matter. There is no actual measure for financial independence or freedom, one being the bare minimum of cashflow you need to survive in life, and the other being the amount you need to live the life you want without worry. Well, at least those are my definitions.

That amount needed can change of course when you reach it, increasing more and more each time. I think this is a big pitfall people run into when creating income sources and increasing their cashflow. They upgrade their lifestyle a few levels in the luxury department, the so-called lifestyle creep. And while there's nothing wrong with this when it is in moderation, some may take it to the extreme. Just think of all the celebrities who came into billions and then suddenly went bankrupt, while others in the world might be able to survive for the rest of their lives on no more than a million. US dollars in this case, for reference.

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So the most important question is: How much do you really need? And the answer is dependent on perspective. Do you want to travel the world? Do you want to own a private jet? Do you want 50 super cars when you only need 1? There is no right or wrong answer, but some perspectives may make the road to success more difficult than others.

In the end I think you choose a goal you want to reach in life, and focus on that goal, taking note to not get distracted by other things that pass you by.

What are your thoughts on this topic?

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