So how does one translates the Four Noble Truths into the modern, material world?
How does one translates the ancient wisdom into financial enlightenment?
25 years ago, coming to America as an emigrant from Eastern Europe, I started my life at the very bottom of the society, as a welfare recipient.
It wasn’t by choice and it wasn’t to take advantage of the system.
To get a career started, I had first to go to school and learn the English language.
Life on welfare was hard. The money was barely enough to survive, but as tough as it was, it was the happiest time of my life.
Every morning I woke up with the promise of a better life. Every day was a day of wonder, discovery and growth.
I was living high on hope and dreams.
After 13 month of struggle, I landed my first job. It was paying $7.50 an hour and that 25 years ago was a lot.
Suddenly, I found myself having more money than I need.
First thing, I moved from my cockroach infested bachelor to a nice 1 bedroom apartment.
Second, I got myself a used car; the first ever in my life – I was 28 years old.
Of course with a car comes, registration, insurance, gas and maintenance.
At the end of the month I found myself not having enough money anymore.
One year after starting my job, I was financially struggling.
Lucky for me I was offered a job by one of my clients and I gladly took it.
At $10 an hour, life was good. Suddenly I had more money than I need it and for a while I thought my money problems were gone forever.
Little did I know. A couple of month later I was back in the same predicament. I did not have enough money.
Well, to make the story short, I moved up the scale to $15 and I was OK for a while, then to $20 and that was enough for a short time and so on and so forth.
You get the point. No matter how much I made, money was never enough.
So what is “enough” money?
If you could make any amount of money, what would be “enough” for you?
Well, according to my own calculation “enough” is roughly twice as much as you are making right now.
So if you are making $20K a year, then $40K would be “enough” and if you are making $40K then your “enough” would be $80K.
Of course you see the problem is that no matter how much you are making somebody else is making already twice as much and that is not “enough”
So if a person could make any amount of money when would he stop?
The only measure we have is Bill Gates. He stopped at $350 billion. And I don’t think he stopped because he had “enough” I rather believe that he stopped because he got tired of making money.
So we still don’t know how much “enough” is enough.
Enough is not a number.
Enough is a state of mind.
If you understand this, you are on the right path of financial enlightenment.