Of being financially secure ...is it having enough money each week to pay the bills, owning ur own home, car etc.....having large sum of money in the bank? Or being able to do the things u enjoy (holidays etc) without having to worry about money.....Having enough to retire on?

Just wondering as I was talking to someone the other day and was surpised at what they defined financially secure as....
[Edited 10/31/05 18:19pm]

1) owning my own home (actually OWNING it. I live in a house now, but who am I kidding? The bank owns it for another 25 years. )

2) being able to retire by the age of 50

I'd be happy just having enough to be in the black each month than in the red.

Imago777 said:

Me too ...and being able to take holidays overseas

I wonder if we just view it as that little bit more than we have...eg if we are paying off the house then we consider financially security having it paid for...or if we can't pay the bills each week then we consider having money to do so as security

Not having to depend on my parents for rent and bills.

Being able to go shopping at the mall every now and then without having a major guilt trip.

Soon, I shall be a broke college student no more...and just a broke...person. Right now, my motivation to find a job is NOT being dependent on my parents anymore.

At least I don't have debts and loans to pay back because I was in school on scholarship. I'm thankful for that much.

So...financial security for ME, right now, is to have enough money to get by every month. Eventually, I'm certain that my definition will increase.

Ocean said:

I think you may be right.

That is the most introspective thing that you've ever revealed to me that didn't involve heavy sexual overtones.

Imago777 said:

U were suppose to keep that between us

You owe me $50.

althom said:

Take it of the grand u owe me for putting up with u

Ocean said:

Enough to never really worry, and to give me the freedom to live life comfortably...

Byron said:

Yes but what is never worry .....and what is comfortable.....is it money in the bank for u then...not so much owning a house.....
[Edited 10/31/05 19:12pm]

Enough for my weekly sponge bath.

althom said:

ick that must cost u a fortune to find someone willing to do that

Ocean said:

Never worrying is knowing that pretty much any normal occurrence could happen (car trouble, health issues, college for my daughter, family emergency, etc), and I won't be saying "If I only had more money"...and comfortable is having the things in life and my lifestyle that makes me happy, content...owning a house would be something that makes me content, not that necessarily makes me feel secure financially...so if I bought a house, it would be for that reason.

Ocean said:

That's why I want my $50 back doofus!

althom said:

Love u might need the thousand

Byron said:

So it's safety money in the bank (in case something happens) or is it enough to retire on comfortably?

Ocean said:

I think "safety money" and retiring kinda go hand-in-hand in my eyes, I guess...plus, you have to consider what "retiring" means, too. I would love to have a career where I don't count the days until I get to stop, but instead find myself always wanting to take part in it...where if I retire, it's not because I finally have enough money, but because my desires in how to live my life and what to do within it have changed. In that scenario, I would probably be "financially secure" if whether or not I retire is made independently of how much money I've aquired, and I'm given the freedom to retire or keep working based solely on what my heart and soul tell me...

Maybe that's my definition of financially secure...being able to live my life and make decisions in my life without any real considerations of money.

Byron said:

Ok I'm gonna ask more questions ...how much money is needed to live ones life without any real considerations of money...is it enough to get out of a couple of sticky situations or is it knowing that no matter how many things come up or how big u will be fine? And yep it is nice to earn ur money doing something u enjoy
[Edited 10/31/05 22:18pm]

Oceans said:

Depends on one's desired lifestyle, or I suppose it depends on what each individual truly feels they need to be happy. The more we understand ourselves, the better we'll be at knowing just what type of life we need to live in order to feel content, happy and serene. I'm not sure if there's a specific dollar amoung attached to that...just depends.

And for me, other than extreme cases where huge sums of money are needed (can't think of any examples, tho), it would basically be living my life where money is never the first thing I think of when making decisions or reaching conclusions. If I can reach that point, I know I'll be financially secure...

Byron said:

Well I'm not saying we need money to be happy however this is about financial security.....and unfortunately to not have to think of money first when we want to do something we need to have enough of it

Oceans said:

Yeah, but how much we need first varies from individual to individual...and that tends to be dependent upon what type of lifestyle each individual leads. Someone who is completely content in an apartment and doesn't require a house won't need nearly as much as someone who's gonna end up paying half a million for their mortgage over the span of their life...someone who finds a small, inexpensive house tucked away in the mountains and grows their own food and is content to live their life there won't need as much as someone who wants to travel constantly....etc, etc. And it all starts with what we feel we need to be happy, what life we need to live in order to be happy.

Byron said:

Ok I understand that...we will all differ somewhat but u said u do not want to think of money before u make a decision...I guess I'm asking each person (relative to there own style of living) what they need

I think mine would depend on being covered for all eventualities by having all kinds of insurance paid regularly. A steadily increasing savings account and pension scheme and enough money to do the things I like to do, regular dinners out, couple of nice holidays etc. But to do all this and at the end of the month still have money (just a few hundred) left in the bank.

In short, have enough money to feel secure that anything could happen and I (or my spouse in the case of my death) can continue to live as we are accustomed.

Not having your house burn down

applekisses said:

Be independant (be my own boss). If it's wealthy (I'll know it sooner or later), I will feel more secure about money.

If I buy a house next to my daughter, I would be quite perfect.

Then buy a flat (mine, maybe) in Paris, to come and visit sometimes, for work, family...

Dreams, dreams...

Ocean said:

i think being financially secure is basically the second part of what you said. when you own your own home can pay your bills on time without living paycheck to paycheck and having a retirement fund you don't have to go into and you can enjoy the holidays. basically not being filthy rich but not having to worry about those things.