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Identifying How Much Income We Actually Require

Money is one of the most important things in order to live comfortably while still enjoying life to the fullest. Money brings in all of the resources that improve one’s quality of life. If not that, everyone requires money to meet their fundamental wants in life. It is true that no matter how much a person earns, there is always a desire to earn more. However, is it necessary that the income we desire may also be the income we actually require? Is it truly worth devoting your time and efforts to earning more money than you need? Whereas in one sense, this represents progress, is money the only type of growth a person requires in life? Ankur Warikoo answers all of these questions in this podcast episode on the ‘Woice with Warikoo’ channel, where he discusses how much income we actually require to survive.

Ankur emphasizes at the outset of the podcast episode that, while money is something that virtually everyone seeks throughout their lives, very few of us realize how much income we actually require. According to him, the majority of our time is spent finding out how to generate money or trying to earn more. He claims that all of our needs, from the most basic to the most luxurious, can be met exclusively with money, and that is why money is crucial. However, he also points out how miserable we make our lives sometimes, just because that way of living might enable us to earn more. He reminds us that even if we are completely dissatisfied with our professions at the end of the day, we nevertheless wake up the next day to perform the same obligations. He urges his audience to consider how much income we actually require to live in terms of fundamental necessities. He contends that if we only examine the necessities of life, we may not require a large sum of money. He then adds that most of us do not even know how much money we need to live our lives the way we want to. He argues that your initial instinct may be an ambitious sum, but then you may be unable to specify how you want to spend it. He says that we either do not want to examine how much income we actually require, or we regard it as an unrealistic quantity, so we do not explore the topic at all. He highly advises determining your personal response to this question, since if you do not, you may spend your entire life chasing a figure that will never stop growing. Finally, he argues that after you have identified your specific response, the desire to work more after reaching your goal becomes a choice rather than a compulsion, and that is why it is imperative to find your personal answer.

Although our ambitions will never cease to develop and the answer to how much income we actually require will surely change; it is still vital to pick a round figure and assess it on a regular basis. Because the moments in life we get to enjoy are more significant than continuing to work even when we do not have to, just to chase a dream number that does not stop growing.

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