This was a great article by Ron Lieber…”How Much is enough? After necessities, consider quality of life”.  I was thrilled to see that Vicki Robbin, co-author of “Money or Your Life” was quoted. I read this classic many years ago, and still abide by its principles.

What makes this book different is that it doesn’t explain financial products. It is a very straightforward, no-nonsense way to think about money as it relates to your life.  Ultimately, people would like financial independence….to not have to work. The premise is this: we all can become financially independent, which means we don’t rely solely on our jobs for income.

It requires that we save and invest to generate income to cover our expenses. Everything you spend money on and how much debt you have will affect your ability to be financially independent. Not everyone gets there…but the book has inspiring stories of people who can take lesser paying jobs doing what they love.  Any amount of financial independence is good…it’s not all or nothing.

This made a lot of sense to me. When I read the book, I didn’t know when I wanted to retire, but I knew I didn’t want to have to work forever if I could help it. I wouldn’t say I was great at negotiating increases or bonuses, but I was great at managing expenses and going without.

Her definition of enough in the article? “Enough is the quality of having everything you need and want but nothing in excess, nothing that burdens you.”  Sounds about right.