People are running after money like crazy. They have a lot of money, for example if the monthly expense are around Rs 1 Lakh, you will be financially free if you have around 30 to 40X of the corpus. But people are not stopping even after that. They are trying to get to the 100X or even 200X. Now the problem with this approach is that you will never be satisfied and always run after money.
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I am not saying that we should not be greedy and always be contained. We should be little greedy and earn as much as possible. But there should be a hard stop on when you will not chase the money. I know uncertainties are there, you will not be 100% sure. Its not that you are not safe at 33X or 50X. If it fails, it will fail for 100X too.
I was reading a post where a Guy in mid 40s have stopped working and spending time with his family and he is happy as well as contained. His corpus is around 25X. He is saying if something happens, he can rejoin the work. But till that time he is happy to stay at home and spend some fun time with the family. And I am also thinking at the same direction. Saying is gradually increasing in my case and hopefully it another 10 years I can become financially free. The only problem I see as of now is being employed at high paying job got the next 10 years.
This is because I am in IT field and it is rapidly changing, and with AI the jobs wil decrease. Yeah I know more jobs will be created but still till that time we have to be sustain. And that's why saving is very much important early in the career as well as till the time you are working.
