Summary
- I suggest you think about your personal "enough" number—how much money you need before you can say, "I'm doing what I want now." This is sometimes called "you money."
- Many people say $10 million is the magic number, but remember, that's quite random and might be way more than necessary.
- Keep in mind that there are different types of financial goals, like Financial Security, Financial Vitality, Financial Independence, Financial Freedom, and Absolute Financial Freedom. Each has its own meaning and number for different people.
- Where you live really affects how much money you need. For example, living in Thailand is usually cheaper than living in places like LA or Dubai, so your numbers would differ too.
- It's important to know your own needs and set personalized financial targets instead of relying on a general number.
Video
How To Take Action
I would suggest starting by figuring out your personal "enough" number. This is how much money you need to live the life you want without stress. It's your own version of "you money." Many people think they need $10 million, but that’s not always true. Instead, focus on what feels right for you.
A good way to begin is by understanding the different levels of financial goals. These include Financial Security, Financial Vitality, Financial Independence, Financial Freedom, and Absolute Financial Freedom. Each level may require a different amount of money depending on what's important to you. Break them down and decide what meeting each goal looks like for you personally.
Consider where you live, too. Places like Thailand can have lower living costs compared to cities like Los Angeles or Dubai. This means your "enough" number might be much smaller if you are staying in areas with a lower cost of living.
To achieve your desired lifestyle, start by setting small, personalized financial targets. Write them down and remind yourself of them regularly. This way, you stay focused on what's important to you and avoid getting influenced by random numbers shared on the internet. Remember to adjust your targets as your situation and needs change over time.
Full Transcript
okay let's start with the question what is your number you know what's the amount of money that you need to say enough is enough I'm doing what I want now this is also eloquently known as you money I hear a lot of people throw out $10 million because that's the number that the interwebs agrees upon as rich not only is that number arbitrary just completely random but that is so much freaking money you'd have a very hard time spending the passive income that can kick off unless you're Conor McGregor there's actually multiple levels of wealth that are personal for each and every individual starting with Financial Security to financial Vitality Financial Independence Financial Freedom and absolute Financial Freedom someone who lives in Thailand where I live will have a completely different set of numbers compared to someone who lives in LA or Dubai thanks for watching and remember to subscribe for more videos just like this one
