“We all die. The goal isn't to live forever; the goal is to create something that will.”
- Chuck Palahniuk
For me, obviously, it's the money. Living and working in Manhattan, you learn to streach a dollar. I am not greedy by any means but I would like to have some nice things in life. After all the hard work is done, you would like to see that you struggled for years in schools, taking exams, for a reason. My parents came to this country in the late 60s so my goal is to live up to their dreams and expectations. After all, they moved here to make a better life for their kids. It would be absolutely wrong for me not to make that happen and take advantage of this opportunity.
My other reason ties with number one : When I eventually have kids, I want them to live worry-free. Worry-free in the sense that, they don't NEED to work during high school or college like I have done, they don't NEED to worry about bills, etc. That is to say, I'm definitely not going to spoil them, but would prefer that their academic pursuits are unobstructed by work and bills.
Again, by putting the money first, I am in no way implying that I'd run out and get a Ferrari or a huge house, etc. I simply want that 'comfort level' that comes with having a decent amount in savings. My ultimate goal, like you asked, is to live off interest. But with the rates as low as they have dropped in the past couple of weeks, I think I have to consider a plan B. =/
- tsd
PS - and this is sort of an aside - I have come to find out that a very large majority of the people who live in my building (in Time Square) are graduates of various top and ivy league schools. I have seen tons of people with Chicago GSB sweatshirts, Wharton, Yale, Columbia, Harvard et al. I have been very motivated by seeing such established people in my building. It just makes me work that much harder at achieving my goals.