Become more valuable to your marketplace at your job. Your job is full of opportunities. Find them! Make more money!
– Carlos Roche
Image by MOHAMMEd ALIM from Pixabay
If you want more money, you must first decide how much money you really want. So, how much do you want? What amount of money will be enough for you?
In my self-development journey, I have discovered that the universe is unlimited and is willing and ready to give us whatever we honestly desire. – To “honestly desire” something means that you genuinely believe you deserve whatever you’re seeking.
So, the question you need to answer right now is “how much do you want?” How much do you need to live the way you want, do the things you want to do and go to the places you wish to go?
If you’re struggling to answer this simple question, let me show you how to come up with the answer.
Table of Contents
How To Know How Much You Want
If you’re having a hard time deciding on the amount of money you need to live a comfortable life, here is the format for coming up with the right amount:
(1) Describe your ideal active lifestyle – Active lifestyle means your lifestyle while you’re still working for others or yourself.
(2) Estimate the monthly cost of your ideal active lifestyle. First multiple the estimated amount by three and then multiply the new figure by 12 (Annual).
For example, if the estimated monthly cost of your ideal active lifestyle is £5,000 a month, the calculation will be £5,000 x 3 = £15,000. £15,000 x 12 = £180,000.
This means you need to be earning £180,000 a year to live comfortably. The reason for multiplying the estimated £5,000 by 3 is to cover for any emergency expenses in your monthly budget.
(3) Describe your ideal retirement lifestyle – Retirement lifestyle is your lifestyle after you’ve retired from active work.
(4) Decide what age you will ideally prefer to retire from active work. A lot of high performers never want to retire from active work. If you one these people, just use 30.
In this case, you’re planning for 30 years of retirement. This means 30 years of living the 5-star retirement lifestyle.
When you use 30 years as your retirement years, you are essentially saying that you will be in active-work until you’re 70 years old. So, make adjustments as you need them.
Now, estimate the cost of living a 5-star retirement lifestyle for a year. This means the cost of regular cruises, holidaying around the world, premium residential homes for the elderly, etc.
Whatever you estimate it will cost you each year to live the type of lifestyle you want during your retirement age, multiply it by 30.
For example, if by your estimation it will cost £20,000 a year to live the way you want during your retirement years, then your calculation will be £20,000 x 30 years = £600,000.
With this format, we know you need to be earning £180,000 per annum and, you need to have at least £600,000 in your retirement savings by the time you retire.
How To Get The Amount You Want
Now that you’ve established the amount of want you need to live the way you want and the amount you need for your retirement, the next thing is to earn it.
Life will always pay you exactly what you justly earn, no more, no less.
To earn the amount of money you’ve established for yourself, you don’t need to change your job unless you hate your job.
If you have a job which you love, then you’re set.
This is how to earn the amount of money you want without changing your job or career:
(1) Find out the top earners in your career or industry.
(2) Find out which one of these top earners earns the amount you desire to earn.
(3) Find out what their qualifications are, who they associate with and their personality (Attitude).
The reason for finding out about these people associations is because connections and those you know matters a lot in both business and career progression.
And as for attitude, it’s always better to observe the attitude of those who we are trying to emulate or level-up to.
(4) Start studying until you bridge the gap between your current qualification and the qualifications of those who are currently earning the amount of money you desire.
Once your qualification and competency reach the level of those who are currently earning the amount of money you desire, you will soon start earning it. That’s how life works.
Conclusion
The problem with most people is not in achieving their goals. Most people problem is that they don’t set goals.
Once you know the amount you desire to live the way you want and retire with, achieving it becomes a matter of when not if.
To summarise, decide on the amount of money you need to live the lifestyle you want and the amount you need for retirement.
After you’ve established the amount of money you need, qualified for it by improving your competency through additional study and qualifications.
Thanks for reading and please share this article on your social media pages and accounts. Someone might find it useful.
Have a blessed day.
Mr Benjamin