How much saving is sufficient for us to pass through our life?/Carlos Pueblo
It is a small division to figure out, how much saving is sufficient for us to pass through our life. First, we need to know how much we have already saved on our hands, i.e. $240,000 value in my pension accounts. Secondly, how old do you expect to make it to? I like to make it to age 80 which is 8 years away. The number is equal to $30,000 a year, $2,500 a month income. I sum them up with my net monthly social security check $1,500 and a miscellaneous defined benefit income of $204, I shall have a total of $4,200 a month income for myself. Now, I always have had a number which I keep my records on throughout the years, how much average of my annual cost of living, etc. and in compare with my income and expanse that I know how much saving is sufficient.
Of course, we need to save that amount from the beginning through life time frugal habit and hard working, etc. We also need to have a healthy body and less stressful life, i.e. know that we have had sufficient amount of saving to power through our life. When I visit my physician for semi-annual physical check, he always asks me if I have signed a living will that is at a critical stage of medical condition, I can have a choice to let myself go. It is my religious belief which after the survival, I shall never have the opportunity to live in a meaningful life thereafter; therefore, I would authorize someone in the family to stop any further treatment. That miscellaneous benefit is also very thoughtful to cover $1,000 cremation, a life insurance company.
When I was young in my early life, I didn't think too much of this at all, yet I worked and tried every way save the money. I have been very lucky to have a health body to avoid spending any un-necessary expanse in medical care. Saving money is a dedication with a great effort to make it. The U.S. has provided an environment for her citizen to live and make it for their life in peace.
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