Are We There Yet? How Will You Know When You’re Rich?
Here at Get Rich Slowly, we imbibe many flavors of frugality, smart investing, and money management. Between J.D.'s (and others') posts and the treasure trove of comments, you could build a path to wealth tailored to your individual income, assets, and circumstances.
But how will you know when you're done? Are you there yet? Are you rich? And what will you do once you get there?
When I worked as a lawyer at a Big Bank I conducted an informal poll of my co-workers, asking what their magic number was: What dollar figure would make them feel comfortable retiring? (Or at least leaving their comfortable jobs to pursue their passions?) I guessed that at least some would say $1 million would be enough to let them leave in comfort. After all, we weren't living in a big city, and the cost of living in our town was pretty reasonable.