How much is "Enough"?

Q: How much wood would a woodchuck chuck if a woodchuck could chuck wood? A: Enough.

Growing up in the suburbs of Chicago, I was convinced we lived in a mansion. Our humble abode boasted four bedrooms, a garage that could fit two cars, an unfinished basement perfect for storing forgotten hobbies, and a living room so sacred it was only entered on holidays or when the Queen visited. We had a dining room that was more of a post office than a place to eat, and a gigantic yard that my dad loathed to mow. To my young eyes, it was the ultimate American dream house, complete with a figurative white picket fence. My friends lived in similar houses, all cut from the same suburban cookie dough, and I just knew this was the life destined for me. A thrilling existence of 9-to-5 drudgery, suburban monotony, the occasional pilgrimage to McDonald's, and a biennial adventure to Disney World.

I'm not quite sure when the suburban American dream started feeling more like a nightmare to me. Maybe it was during my college study abroad program in London, or my Tokyo adventures post-graduation, or perhaps when I was buried under a mountain of paperwork, clocking in 100-hour weeks as an auditor in Chicago. Spoiler alert: living paycheck to paycheck while struggling with student loans wasn't exactly my idea of a good time. At 24, I had grand visions of fame and the aspirations to be a millionaire by 30.

Cue the dramatic music as I plotted my escape plan: an MBA in Spain to rub elbows with the elite and exchange my boring life in America. I poured my hard earned dollars back into my education. The MBA was my tipping point. I met incredible people who inspired me and showed me that I could be more and live a greater life. With this realization, I negotiated hard and went from earning a paltry $50K for grueling workweeks to raking in $120K with a bonus and a tamer schedule. I attacked my second wave of student loans like a financial ninja, started investing, and beefed up my retirement fund. My life was an Excel spreadsheet with a 5-year plan that stretched all the way to retirement. The end goal was to get myself to my magical freedom number (retirement) by the age of 50.

Now let's be clear. Throughout my life, I never thought I didn't have enough. Ofcourse it's nice not having to allocate most of my paycheck towards paying down my student loans anymore, but I always managed to grab a bite to eat with friends on occasion or enjoy a good concert. I just didn't spend money on buying new clothes or any brand name luxuries. I took holidays on the cheap and stayed in hostels or with family and friends. I used cash back cards, used airline mileage to get cheap or free flights, and usually made all of my food at home. It was always enough because I had never had more. But after my MBA, I did want more for myself. I wanted to be able to afford Michelin star restaurants, to experience 5 star hotels, to fly in business class if I wanted to, and to spend my time enjoying life rather than slogging through it. So what was my new definition of "enough"?

The fulfillment curve is different for every individual person. It is a plotted curve measuring how much fulfillment you achieve through spending money. The top of that curve is when you have the highest fulfillment or happiness utility from spending "enough" money. The words "comfort" and "luxury" can mean different things for different individuals. For you, a "luxury" could be going to get your nails done at the salon or to have a cleaner come to your house once a month. To others, "luxury" could mean a Birkin Bag or a Maserati. After you spend beyond "enough", your happiness and fulfillment actually decreases and leads to regret or guilt for overconsumption. Your idea of enough may be living in a nice suburban 4 bedroom house in America, enjoying occasional Big Macs and annual trips to Disney. And that's a great dream to have! It's just not mine. And it's life experiences and the people you meet along the way that inspire new dreams and aspirations.

Now I'm happy to say that I'm living my dream. I'm working on something I'm passionate about while affording nice holidays and traveling to new countries. I know I have enough. And while it may be tempting to overconsume, I know it won't bring me happiness in the end. Everything is more enjoyable in moderation. Having a Michelin star dinner every night makes having a nice evening meal out less special. Being on holidays by the beach every day suddenly makes the beach seem a bit boring and mundane.

So when is enough, enough? If you have the feeling that you're continuing to make money to overconsume rather than to simply enjoy life, then you might have your answer right there. Only you know. And even then, it could change. That's the joy of life.

To find out your freedom number and the top of your fulfillment curve, sign up for a free consultation!