How Much Money is ENOUGH? || FIRE

Is there such thing as "enough money?" Is living off 4% of your investments when you have "enough?" The answer is no. On my journey, I've learned that you reach enough long before you reach financial independence.

How much money is "enough?" Most people would define enough as "financial independence" or the "4% rule," when you're living off 4% of your investments you have reached the point where you finally have "enough." You finally have enough to never worry about money again.

The problem with this rule is that it takes year a minimum of 10 years to have the feeling of "enough," and I refuse to live my life on the risk that you have to wait 10 years until you get some satisfaction with your money. When I reached a milestone in my portfolio, I started to challenge the idea that "enough is reaching financial independence" and I started to uncover how much money is "enough" in terms of money.

I learned that the definition of enough is "sufficient to meet a need or satisfy a desire." Then I realized that once you begin your journey to financial independence you have enough, but the word enough takes on different meanings on the journey.

I learned that on the journey, "You reach enough, long before you reach financial independence." You don't need a million dollars until you have enough, you just need a sense of security that your money is going to allow you to keep moving forward despite the challenges in life.

[ElAgustin]

How much money do you consider to be enough?

[kimlahr]

I have Watched is video about 40 times its my very favorite. I enjoy watching you so much thanks Austin

[thewanderingfool]

Privacy and peace & quiet when going to the bathroom, is all anyone ever needs! If you have those three things then you are wealthy beyond measure.

[doyeworrell]

My Father passed away with cancer about 18 years ago but I remember him telling me over and over he was not worried about what would happen to my Mom after he was gone because he was leaving “enough” for her to live on for the rest of her life, and she did. My Dad didn’t leave her a million dollars but she never wanted for anything until the day she died. Enough means security and peace of mind, let your life happen and when things so wrong, something breaks down on you, you need new tires, etc. you don’t have to go into panic 😱 mode to figure out what to do.

[nahedsherif]

I'm happy that your channel is growing fast you totally deserve success.

[sharonlugone]

My definition of enough is very low because I enjoy being frugal without feeling deprived. I live on $22, 000 a year pension/Social Security. I'm lucky to qualify for a very nice two bedroom apartment which has subsidized rent. I have an emergency fund and follow a budget each month. It's the first time in my life that I feel I have enough, not because I have more money, but because I am responsible financially and I'm grateful for all that I have in my life. The peace of mind is priceless.

[karlabritfeld]

In the USA, you're better off saving as much as you possibly can as soon as possible. Corporations are running the entire country, everything is finance based. They are in our food supply, our healthcare and now even housing. Pay off your debts, buy a cheap house, save your money. This will buy you peace of mind. It's how my parents lived, it's how I live.

[betsyevers]

This is so true and on point. Listening to your teachings, i have managed to save 500. As a single teacher with 2 kids, that’s a huge deal. Thank you

[adoniskomplex]

Enough money for me means to have so much invested so that I can lower my working hours from 8 to 5 and spend the rest of the day with my family, friends, mother nature and of course doing various physical activities.

I've just realised that I've never had so much money as I now have.

[Universe.]

Austin I have been binging on your videos and have been learning and enjoying them so much. Im also on my journey to stick it to the man lol. Enough for me was when I had over 12 months of my mortgage saved. I always said if i had no money for utilities at least ill have sunlight in the daytime and a roof over my head with 1 year to find another job. Im an RN/NP so jobs are in plenty supply but you never know!

[agardenramble]

I’m at a point where I can stop and look at what I have done and be very proud of that. I’m finally starting to feel like I have enough because I can think about it all less. I’ve been asking the enough question for a while now and I’m happy to sort of break free from being so focused on the goal. Great video, thank you for sharing!

[tjtj]

I have enough for my present self, what I want is enough for my retired self.

[lbzoqmh]

Veo este vídeo, mientras escucho a mi vecino mover todos sus coches, vivimos en un fraccionamiento de clase media, y en su casa caben 3 coches dentro de su cochera, pero el tiene muchos más y normalmente debe dejar uno o dos estacionados en la calle, digo muchos más, porque los otros los lleva a guardar a otro lugar. Hoy decidió sacar su Tesla, que casi nunca mueve, siempre es un "espectáculo" ver todas las maniobras que tienen que hacer para sacar y meter coches 😅

[jondalgas]

I like all your videos, but this one even more since you spoke so calm and relaxed

Keep it up 🤩🤩

[amy]

For me the quote “enough is a decision and not an amount “. It’s so true … money will never be all encompassing security- but it does give us some protection.

[kevinfestner]

Wooo, well put. Enough is also confidence that you can reach that specific FIRE number.

[alvararichards]

We’ve been conditioned to think the magic number of one million plus is enough. I’m glad I discovered your channel and the FIRE community because my definition has changed to being comfortable and have peace of mind.

[sct]

It took another 4 years, after the finance consultant told me I had enough to feel secure enough to quit my job. Enough is a # and a mind set.
Buy an apartment in a buyer’s market ! That really helps.

[markmedley]

Having money to feel secure is important for a great life. Having enough to quit working, is another story. How much you need each month to get by and for how long will determine how much is enough. Most people can live well on 5 million. Less than that, if you are young and using the 4% rule can be risky. You must include inflation, market downturns, taxes, and unexpected expenses such as healthcare before you walk away from your job without another form of income. If you have other forms of income, then keep doing what you are doing. Great video.

[honeywerehomeblogMegan]

Soooo good! Will definitely rewatch & recommend this video!