My response to the @Indiaunited Contest - Theme: How much money do you actually need to stop worrying about finances and live freely?
It's a very tricky question and I feel that the answer will be different for everyone even if the currency is same. For a person who has lived all their life in rural areas and wants to continue living there may have very limited means and resources on which they would want to spend on, because the exposure to life is limited there. Whereas for a person who has lived in a city all their life and intends to continue that their definition of living freely will be different because there is so much exposure to their life.
To be very honest, I would need lots and lots of money, it's not that without it I cannot live freely and enjoy life, but if I have to think of living in a way where I fulfill all my desires and wishes then it will be lots. Also the value of money is depreciating with time, so what may feel free today may become a crunch 10 years down the line, so I have to even factor the inflation when I think of the amount. I cannot live freely 20 years down the line with the same amount of money I decide today, unless that money is growing.
If I have to put a value to it then I can say around 3 million USD, this is considering that my money may not grow from here and I will have to live with this amount forever. It may seem a lot today, but 20 years down the line I do not know how much value it will hold. And the way the cost of every commodity and service is going up, not to forget the health care may be this amount 30 years down the line will feel negligible. As of today I feel that this amount will be good for me to live a free and carefree life without doing any job and thinking of long term future.
As I said the value of money for each individual is different, so for me while it is 3 million for some it can not even be 1 million or for some even 10 million may seem less. It is about individual's lifestyle and the exposure to life and their environment they live in will decide how much is enough for them. There is no end to how much our heart can desire when it comes to money. How much ever we have we feel it is never enough, because the moment we have more our wants also increases, and then we feel again it's not enough.
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