What is "enough" and how much guarantee is there that I'll reach that?
It's rather similar to what investing calls the DCF - but with time: time I have today is worth more than time I might have in future. For several reasons:
Time I have today is guaranteed. The future is unknown. But rather known, is that in the future I'll be older, my health and energy lower and therefore my options limited. The quality of "time" is potentially much higher when you are 20 than when you are 83. And then there's the risk that I don't even make it far beyond my 70ies.
What is "enough" and how much guarantee is there that I'll reach that?
It's rather similar to what investing calls the DCF - but with time: time I have today is worth more than time I might have in future. For several reasons:
Time I have today is guaranteed. The future is unknown. But rather known, is that in the future I'll be older, my health and energy lower and therefore my options limited. The quality of "time" is potentially much higher when you are 20 than when you are 83. And then there's the risk that I don't even make it far beyond my 70ies.