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Published in:
2019 | OriginalPaper | Chapter
3. Wealth: How Much Do You Need; How Much Is Enough
Author : Niall J. Gannon
Published in: Tailored Wealth Management
Publisher: Springer International Publishing
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Abstract
Several attempts have been made at studying the income or net worth necessary for happiness. These studies warrant consideration not because they agree on a specific number, but because they attempt to measure how much is necessary to truly remove certain worries from an individual’s life. For starters, imagine what it would be like if you could live your life completely free of worry about a retirement nest egg or your ability to pay for your children’s college education. Removing these two worries from a family can be a financial goal in and of itself and can serve as a wonderful template for an older wealth creator considering how much and when to gift assets to his extended family.