YOU ARE CHASING MONEY. BUT DO YOU KNOW HOW MUCH?

Note: This is taken from Ankur Warikoo’s Friday newsletter. I have posted to keep my future reference.

YOU ARE CHASING MONEY. BUT DO YOU KNOW HOW MUCH?

Look at the world.

Everyday, all of us get up and start living the day.

Most of which comprises either studying for a job, or working in a job.

To what effect?

To earn money.

And why money?

Because money is needed to live in this world.

We need money to buy food, clothing, shelter.

We end the day, all tired, perhaps even disillusioned, dissatisfied, disgruntled.

But we get up again the next day - and start the chase again.

To earn money.

Let me ask you this, how much money do you need to live?

Think about it for sometime.

How much money do you need, in order to live?

When I say “live” I mean have food to eat, reside someplace, and have clothes to wear.

And I’d argue, for most of us reading this newsletter, the answer is - not a lot!

We don’t need a LOT of money to eat our own food (if we cook it ourselves), to wear clothes (if we aren’t dressing everyday for the MET gala) and to live someplace (if we don’t have to buy the place we stay in).

So, if this is indeed true, why are you working so hard for money?

Ohhhh - I get it - to get comfortable.

You know - eat better food, wear nicer clothes, stay in a nice home.

Fine. I understand.

How much money does that need?

Some more than your basic needs. But is it really that much more?

So, why are you working so hard for money?

Ohhh - I get it - to buy things.

You know - the fancy latest phone, the vacation, the car, the sunglasses, the club membership, the cool shoes.

Fine. I understand.

How much money does that need?

Some more than earlier. But how much more?

Does it not bother you, that you do not know the answer to this question?

You do not know how much money do you actually need in life?

To live life the way you would want to?

I ask this question often.

How much money do you need in life?

And I am always fascinated with the answers.

Most people do not know.

The ones who do quote crazy figures. 300Crores ($40Mn) is one that I heard recently.

I bet the person doesn’t even know how to spend 300Crores, let alone safeguarding it.

We either do not know how much money we need in life or we want “more than enough, so that we won’t have to think of it”

Find the answer!

Here is why:

If you do not know the answer to this question, you will continue chasing a number that never stops.

You will spend your entire life working to earn money, more money, some more money, a little bit more.

Even when you have enough.
Enough to stop and not have to work for it anymore. Or at least not to the extent you do.