With earnings moving upward, saving is almost inadvertent. Even building just a small reserve of cash can make a difference and this is more significant when debt is lingering. Still, the thought of saving a part of income can be intimidating and means to save leads to anxieties about cutting back on expenses, creating a budgeting plan, or making sacrifices. This certainly is path to achieve the ultimate goal of happiness. But does money alone can lead to happiness?
Struggling through the cruel consumerism is crucial. Just suppose want for the latest gadgets. Every new version is having some advancement over the last one. Mere want of it because it is more convenient and efficient with pride to be able to flaunt is just brutal decision of life. Similarly rushing to refreshing the wardrobe at the fall of season is not necessary always. Obviously, there are gadgets and lot of attire to take care of the need. No doubt, sometimes there may be a need to refresh the wardrobe in situation like changing the job which may have different dressing requirements. Upgrading at the drop of hat is certainly disastrous. Momentary pleasure and comfort will soon go away but the pain and hardship will continue for longer period.
With news ranging from technology and social media penetrating everywhere (recently Japan’s Imperial family made an Instagram debut) to sporadic news of digital detoxification by one or other concerned, resisting to technological advancement is very tough task. There is no way to have armour which is foolproof and protects from financial frauds. Sticking to the Luddite approach will exaggerate the matter for self as well as others involved. Hence adopting to changes and upgradation has to move with the appropriate updating of knowledge and skill within the individual’s capacity.
Spend and invest v/s spend or invest, choice differs from individual to individual as well as from time to time. But one thing is certain that both of them lead to outgo of taxes. Simply, taxes are unavoidable.
The rule of 25 provides quite straightforward but impactful guideline for estimating the required savings for retirement and leads to achieving for a retirement fund that is 25 times annual retirement expenses. It puts emphasis on spending needs and lays a valuable path for navigating the issue of planning for retirement corpus. Without leading to any definite figure, it helps in arriving at the distinct goal to target for presumptive tangible benchmark imparting a sense of the financial stability required for a retirement with comfort.
My Simple Goal 