Sunday, December 5, 2010

How Much Money Is Enough?

One of Leo Tolstoy's short story asked How much Land Does a Man need. This is a very fitting question to land-scarce Singapore and its citizens. The long-dead writer answers at the end of the story : Six feet from his head to his heels was all he needed.

I chanced upon a blog while searching for criticism of Warren Buffet and in it, a similar post asking How Much Money is Enough? Paul Polak, the blog owner says:

“What’s your number?”

“What do you mean? They ask.

“Your number is the amount of money you and your family needs to live comfortably.”   For example, if you need $100,000 a year, and expect to earn 5% each year on your assets your number is two million dollars. Once you’ve reached your number, you can start doing whatever you’ve always dreamt of doing all your life.”

 What's your number?

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