Recently I've been turning down good work
Last year I stopped doing a well-paid part-time job. Last month I turned down a lucrative side project. Why?
I've been thinking a lot about 'enough'. Once you have enough, you don't need to try and get more.
In some ways it is the key concept in personal finance.
- Are you spending more than you need to each month?
- How much money do you need to support your lifestyle?
- What level of saving/investing will get you there?
If you don't know the answers to these questions your financial journey will be uncertain.
My personal answers are:
- Possibly, but I'm pretty happy with my spending
- I estimate around 4 million yen a year
- If we continue saving at our current rate (50%+) we should be there in less than ten years
I also had the opportunity to think about the flip side of this, not having enough. I don't have enough passive income and side income to give up my day job, and this makes me financially vulnerable.
While I am not really willing to do extra work just for money any more, perhaps I can optimize my spending or build up my income in other ways.
Time to take another look at that list.