Since we all come from different countries and economic situations, it is hard to compare how much income would be needed. But I was just sitting here wondering what the bare minimum amount I would need to live have a good standard of living, having enough to cover living expenses, some level of luxury and travel, and be able to invest.
I have to go with bare minimum obviously, because the question of how much is enough has no ceiling. I could quite happily live off a million euros a day, but two million a day would be better, right? But thinking about maintaining a similar life situation in terms of the house we have, a decent car, no worries about bills and being able to save, invest and travel comfortably, I suspect the after tax amount in-hand would be somewhere between 300 and 700 euros a day, or 110K-250K EUR a year.
127K - 290K USD
194 - 442 AUD
The low end is much more than I have ever made in a year.
But it isn't that much in terms of what some people are making easily in a year. I am just not "some people" though. Which means I am not clever or skilled enough, know the right people, or don't work hard enough or something to be in that category. Whatever it is, even the low end seems unachievable, and that makes me sad, considering it is not that high.
With that amount of money in my pocket each day, there is very little I would want now that I couldn't have. It doesn't mean that I would be able to have everything I want whenever I want, but it would mean that it is possible to save for things relatively easily, or invest into stocks or real estate consistently. It would mean being able to go on a yearly holiday with my family for a week or two, and shop without having to think about the cost.
Life would be easy.
Comparatively.
Many say that once you have more money, your tastes increase to absorb the extra so it doesn't make much difference, but I think that I am pretty level-headed in this and don't believe I would spiral much further up, because I don't value "stuff" as much as I used to, because my experience tells me it doesn't bring much value to my life. But not having the spectre of debt or "not enough" would be a welcome relief.
So what can I do to get enough?
Having a decent job would help. That is not very easy at the moment. And it would have to be very decent, or I would need two decent jobs to cover that amount. Again, it seems out of reach given the current economic situation in Finland. But if I was able to achieve it, I suspect it would have to come through multiple income streams. But even these, they would still have to be stable enough to consistently provide value.
It feels weird at times, because I associate with some people who are quite wealthy occasionally, and it seems like it comes so easily for them. I know it isn't true for all of them, but opportunities just open up for them over and over, and they can pick and choose. Value just falls out of the sky and into their hands, but the sky they are under and the one I am under are apparently not the same sky.
Even if Hive went to $5, I would still need to convert some of it into something that could consistently return, like rental properties, because it is unlikely to stay there for long. Though if it did stay there, curation returns would return the upper-lower-end number. That would be pretty good, eh?
So how about you?
Wherever you are from, how much do you need daily to maintain a decent, better than average lifestyle, without going too overboard. Does the number seem high or low to you, and what could you do to make it a reality?
Taraz
[ Gen1: Hive ]
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