I know when I was rich? For me, it was not about being "rich."
Rich was not the goal; the goal was security-and after that,
enjoyment. I don't think in terms of rich; I think in terms
of, "How can I not have to rely on other people in order to
get to do what I want?"
My father died when I was young, which created
a high sense of insecurity. I had to have lunches subsidized
at school. So my first goal was really "no subsidized lunches."
When I set my first financial goal, I wanted to know I was
secure, or rather, I wanted to feel secure, because it's
all in the head.
I knew I had reached my goal when I didn't
have to depend on anyone else- when I knew I had enough
to sustain my lifestyle, with an assumed rate of return
and a particular asset level in mind. My goal was to get
there by age thirty-five. I missed it by two years. I've
always planned to go on living for a long time, though,
so that wasn't my final goal. The goal keeps changing.
When will I reach the final number? I think
I'm getting close! If the market's going to go into hibernation
for another ten or twenty years, you shift to preserving
capital instead of accumulating it. At age fifty-five the
thought of going through another market cycle is less appealing
than it was at age thirty-five or forty-five.
That's where I am now. I used to have subsidized
lunches. Now, I'm used to nice lunches.
- anonymous author
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