Comments on: How Much Money Do You Really Need? http://chrisguillebeau.com/3x5/how-much-money-do-you-need/ Unconventional Strategies for Life, Work, and Travel Thu, 29 Jul 2010 21:26:59 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Trackback from Scott H Young http://chrisguillebeau.com/3x5/how-much-money-do-you-need/comment-page-1/#comment-5234 Trackback from Scott H Young Fri, 23 Jan 2009 17:00:40 +0000 http://chrisguillebeau.com/3x5/?p=747#comment-5234 [...] How Much Money Do You Need - An interesting perspective from Chris Guillebeau as he explores the three ways you can plan you finances. In running this website, I have a lot of flexibility for income, depending on how much I want to work and where I want to put my focus. But if my goals for money aren’t tied to my lifestyle, I might end up broke or burning myself out to make money I don’t need. [...] [...] How Much Money Do You Need – An interesting perspective from Chris Guillebeau as he explores the three ways you can plan you finances. In running this website, I have a lot of flexibility for income, depending on how much I want to work and where I want to put my focus. But if my goals for money aren’t tied to my lifestyle, I might end up broke or burning myself out to make money I don’t need. [...]

]]> By: dmmonty http://chrisguillebeau.com/3x5/how-much-money-do-you-need/comment-page-1/#comment-4851 dmmonty Sun, 11 Jan 2009 20:47:02 +0000 http://chrisguillebeau.com/3x5/?p=747#comment-4851 I often ask myself the same question. Although I pose it slightly differently: "What's the minimum I need to win at the lotto for me to stop working?" Well, I know the odds aren't with me, but a man can dream no? I'm a big believer in the wisdom of crowds so it helps to see what others like you say (or don't say). I came across this tool which I thought was pretty insightful. www.ingcompareme.com May help you determine how much is enough! I often ask myself the same question. Although I pose it slightly differently: “What’s the minimum I need to win at the lotto for me to stop working?” Well, I know the odds aren’t with me, but a man can dream no? I’m a big believer in the wisdom of crowds so it helps to see what others like you say (or don’t say). I came across this tool which I thought was pretty insightful.

http://www.ingcompareme.com

May help you determine how much is enough!

]]> By: Rachel http://chrisguillebeau.com/3x5/how-much-money-do-you-need/comment-page-1/#comment-4643 Rachel Sat, 03 Jan 2009 23:26:09 +0000 http://chrisguillebeau.com/3x5/?p=747#comment-4643 Hi Chris, I would say that how much money we need is based on how much money we wish to spend! Our grand parents didn't have much but they managed... But back then, they didn't have publicity and marketing telling them that they NEEDED this or that. We live in a 'I need this now' society where nowadays no one is willing to wait until they have the proper amount to indulge into purchases... I am not saying that we have to go back to the old cabin in the woods thing but before making any kind of purchase, we should think about it overnight and then decide if we can live (or not) without such and such thing... :-) Hi Chris, I would say that how much money we need is based on how much money we wish to spend! Our grand parents didn’t have much but they managed… But back then, they didn’t have publicity and marketing telling them that they NEEDED this or that. We live in a ‘I need this now’ society where nowadays no one is willing to wait until they have the proper amount to indulge into purchases… I am not saying that we have to go back to the old cabin in the woods thing but before making any kind of purchase, we should think about it overnight and then decide if we can live (or not) without such and such thing… :-)

]]> By: JE Gonzalez http://chrisguillebeau.com/3x5/how-much-money-do-you-need/comment-page-1/#comment-4595 JE Gonzalez Wed, 31 Dec 2008 00:41:09 +0000 http://chrisguillebeau.com/3x5/?p=747#comment-4595 Great stuff Chris, but what I ultimately want to do is not worry about a constant income, and let hard work or laziness not be a huge dilemma. I have a webcomic and hope to make it grow. It probably won't grow out of proportion, but I've got to be persistant. I just had a random thought: do what you love and the money will follow, but if what you live does not make money (lets take paleontology or Marine biology for example) set up multiple streams of income to not worry about money. I really could care less about having multiple cars or a huge house or toys (Metal Gear Solid 4 is the only costly thing I want). Might be naive, but just a thought Great stuff Chris, but what I ultimately want to do is not worry about a constant income, and let hard work or laziness not be a huge dilemma. I have a webcomic and hope to make it grow. It probably won’t grow out of proportion, but I’ve got to be persistant. I just had a random thought: do what you love and the money will follow, but if what you live does not make money (lets take paleontology or Marine biology for example) set up multiple streams of income to not worry about money. I really could care less about having multiple cars or a huge house or toys (Metal Gear Solid 4 is the only costly thing I want). Might be naive, but just a thought

]]> By: Audrey http://chrisguillebeau.com/3x5/how-much-money-do-you-need/comment-page-1/#comment-4581 Audrey Tue, 30 Dec 2008 15:15:32 +0000 http://chrisguillebeau.com/3x5/?p=747#comment-4581 "The more I considered it, the more I realized I wanted to spend the most productive years of my life doing things I enjoy. " After spending the holidays with family in a retirement community in Florida, this sentiment strikes home more than ever. This is not to say that saving for the future isn't important and health issues can't change situations instantaneously. But, more than ever I realize that the notion of putting off the things you want to do in life until retirement does not match our life goals. I also really like the perspective of budgeting using your necessary expenses for a lifestyle you want vs. how much income you're bringing in. This visit to the States also made us we realize why our friends think we must have won the lottery to travel as long as we have. You can hardly find a crummy highway hotel here for less than $30, while in many of the areas we've been in Asia we slept, ate and lived well for $30/day between the two of us. When we do settle down after this RTW journey, we may end up in South America or Asia for a while. The lower cost of living combined with the weather and cultural stimuli seems like the right combination to help us continue our goal in creating a successful location independent and entrepreneurial lifestyle. We'll see... “The more I considered it, the more I realized I wanted to spend the most productive years of my life doing things I enjoy. ”

After spending the holidays with family in a retirement community in Florida, this sentiment strikes home more than ever. This is not to say that saving for the future isn’t important and health issues can’t change situations instantaneously. But, more than ever I realize that the notion of putting off the things you want to do in life until retirement does not match our life goals.

I also really like the perspective of budgeting using your necessary expenses for a lifestyle you want vs. how much income you’re bringing in. This visit to the States also made us we realize why our friends think we must have won the lottery to travel as long as we have. You can hardly find a crummy highway hotel here for less than $30, while in many of the areas we’ve been in Asia we slept, ate and lived well for $30/day between the two of us.

When we do settle down after this RTW journey, we may end up in South America or Asia for a while. The lower cost of living combined with the weather and cultural stimuli seems like the right combination to help us continue our goal in creating a successful location independent and entrepreneurial lifestyle. We’ll see…

]]> By: Des Menz http://chrisguillebeau.com/3x5/how-much-money-do-you-need/comment-page-1/#comment-4577 Des Menz Tue, 30 Dec 2008 12:15:42 +0000 http://chrisguillebeau.com/3x5/?p=747#comment-4577 Chris, you've nailed it! This is precisely the credo that I embarked on mid 08. Being self-employed, I've had to transition my way out of what I've been doing for the past 20 years. It takes time to do this, but what I'm doing is taking my business and principles from offline to online. Why? To reinvigorate my work life, to connect with a global audience, to follow my passion for writing about the need for humanity to change in every conceivable way (vis-a-vis climate change impacts, environment, human habitats, self-sufficiency), and to create sustainable income that will allow me to live the way I choose and to transfer funds to global causes. A dream? Not really - it's my goal. But to achieve this there has to be a PLAN - obvious stuff, but quite simply a vital step that many people don't observe. What you have described is a sensible step in this direction. What works for me is to break down essential expenses into categories, and then work on projects that will meet those individual expenses. All the best for 2009 ... Des M Chris, you’ve nailed it! This is precisely the credo that I embarked on mid 08. Being self-employed, I’ve had to transition my way out of what I’ve been doing for the past 20 years. It takes time to do this, but what I’m doing is taking my business and principles from offline to online. Why? To reinvigorate my work life, to connect with a global audience, to follow my passion for writing about the need for humanity to change in every conceivable way (vis-a-vis climate change impacts, environment, human habitats, self-sufficiency), and to create sustainable income that will allow me to live the way I choose and to transfer funds to global causes. A dream? Not really – it’s my goal.

But to achieve this there has to be a PLAN – obvious stuff, but quite simply a vital step that many people don’t observe. What you have described is a sensible step in this direction.
What works for me is to break down essential expenses into categories, and then work on projects that will meet those individual expenses.

All the best for 2009 …

Des M

]]> By: Zoe http://chrisguillebeau.com/3x5/how-much-money-do-you-need/comment-page-1/#comment-4576 Zoe Tue, 30 Dec 2008 11:59:32 +0000 http://chrisguillebeau.com/3x5/?p=747#comment-4576 Chris, I'm definitely on an Alternative Income Plan, and it's working quite well. It was really interesting to see these approached outlined, especially since you included #3...the one not typically included in financial planning advice. As always, I relate well to your philosophy on living. Thanks for letting us in on your thought processes :) Chris,

I’m definitely on an Alternative Income Plan, and it’s working quite well. It was really interesting to see these approached outlined, especially since you included #3…the one not typically included in financial planning advice.

As always, I relate well to your philosophy on living. Thanks for letting us in on your thought processes :)

]]> By: Parag Shah http://chrisguillebeau.com/3x5/how-much-money-do-you-need/comment-page-1/#comment-4573 Parag Shah Tue, 30 Dec 2008 09:46:00 +0000 http://chrisguillebeau.com/3x5/?p=747#comment-4573 Very nice article. Interestingly, I too was thinking about similar stuff just a few days back. Don't know if the year end has anything to do with it :-) I agree, an income is not an end in itself. It is the means for us to have a certain lifestyle. I too, like you value experiences over purchasing 'stuff'. Uur experiences and learnings that always stay with us, unlike the material 'stuff' that we accumulate. It was nice to read your thoughts on this subject. You gave me some interesting ideas, and also validated my own thoughts to some extent. -- Thanks Parag Very nice article. Interestingly, I too was thinking about similar stuff just a few days back. Don’t know if the year end has anything to do with it :-)

I agree, an income is not an end in itself. It is the means for us to have a certain lifestyle. I too, like you value experiences over purchasing ‘stuff’. Uur experiences and learnings that always stay with us, unlike the material ‘stuff’ that we accumulate.

It was nice to read your thoughts on this subject. You gave me some interesting ideas, and also validated my own thoughts to some extent.

–
Thanks
Parag

]]> By: Jason Hughston http://chrisguillebeau.com/3x5/how-much-money-do-you-need/comment-page-1/#comment-4572 Jason Hughston Tue, 30 Dec 2008 06:53:15 +0000 http://chrisguillebeau.com/3x5/?p=747#comment-4572 Dear Chris, I recently subscribed and have been reading your posts for a little while. Thank you for sharing your thoughts. I appreciate the ideas that are outside the norms I would generally consider. In this post it is the Alternate Income Plan. A great opportunity to re assess what I am doing. Dear Chris,

I recently subscribed and have been reading your posts for a little while.

Thank you for sharing your thoughts. I appreciate the ideas that are outside the norms I would generally consider. In this post it is the Alternate Income Plan.

A great opportunity to re assess what I am doing.

]]> By: PizzaForADream.com http://chrisguillebeau.com/3x5/how-much-money-do-you-need/comment-page-1/#comment-4570 PizzaForADream.com Tue, 30 Dec 2008 06:08:09 +0000 http://chrisguillebeau.com/3x5/?p=747#comment-4570 Chris, You continue to provide inspiration with your posts! With 5 mouths to feed and a very security conscious wife, I've opted for multiple streams of income at the expense currently of what I truly want most. I believe that especially in today' economy it's important (and possible) to create income in a variety of ways (online, offline, traditional, and non-traditional) in order to achieve my goals and achieve the "security" my wife needs in order for me to walk away from full-time employment. Being that it's just the two of you and you have no kids, go for it all now as it gets lots more complicated once you have kids to feed. I wish I knew 20 years ago what I know now as it would have been lots easier for me to walk away from the corporate grind! Our offline, traditional business is growing like gangbusters! 2009 is my year and I believe it will be yours as well! Chris,

You continue to provide inspiration with your posts! With 5 mouths to feed and a very security conscious wife, I’ve opted for multiple streams of income at the expense currently of what I truly want most. I believe that especially in today’ economy it’s important (and possible) to create income in a variety of ways (online, offline, traditional, and non-traditional) in order to achieve my goals and achieve the “security” my wife needs in order for me to walk away from full-time employment.

Being that it’s just the two of you and you have no kids, go for it all now as it gets lots more complicated once you have kids to feed. I wish I knew 20 years ago what I know now as it would have been lots easier for me to walk away from the corporate grind!

Our offline, traditional business is growing like gangbusters! 2009 is my year and I believe it will be yours as well!

]]>