Join Australia's most dynamic and respected property investment community

Money buys time, freedom and choice.

Discussion in 'Investor Psychology' started by keithj, 8th Jan, 2016.

  1. keithj

    keithj Moderator Staff Member

    Joined:
    14th Jun, 2015
    Posts:
    177
    Location:
    Blue Mtns
    The majority of people spend their best 40 yrs of their life working (or travelling there) for 10/24ths of most days.

    They have no choice or freedom to do otherwise.... their time is not their own, it's allocated to their employers. They've sold their time in exchange for money.... money they need to buy food & shelter & iPhones.

    Having sufficient money allows you skip those 10 hours a day that aren't yours, and spend your time doing what you want.

    Money buys time, freedom and choice. And anyone who says that they enjoy working so much ....
    • ask them if they've tried the alternative ?
    • or ask them if they would still work if they weren't being paid ?
    • or ask anyone on their deathbed if they wish they had spent more time in the office ?
    • or ask them if they love their time with their work colleagues more than their family time ?
    • or would they turn down a lotto win because they'd rather keep working ?
    Of course there will be outliers (maybe those obsessed with money, or have an unpleasant family, or have a job that is more fulfulling than their family), but consider the other 99.9% who would gladly accept sufficient money to allow them to choose to reclaim those 50 hours a week for 40 years.

    And as an aside the reduced stress from not working, and not travelling there at accident prone times is likely to extend your actual lifespan too...
     
    radson, pinkboy, teetotal and 13 others like this.
  2. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

    Joined:
    14th Jun, 2015
    Posts:
    2,123
    Location:
    Sydney & Adelaide
    Can I buy more time with paywave?
     
    datto likes this.
  3. datto

    datto Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,394
    Location:
    Mt Druuiitt
    @keithj good points. But just think if every single working person invested in properties there wouldn't be any tenants for the resdential property investment system to work!

    You'd have to invest in commercial or some other type. Collectively, as a nation we would be wealthier, with no need for pensions and social security. The govt would have more money for infrastructure. The health system would be unimaginable.

    Taxes would be lower. Foreign investment would swarm into the country. Education would be alot cheaper or free resulting in a more intelligent nation.

    It's nice to dream! The way I see it, we need the poorer, the disadvantaged and yes even the humble bogan. They are making the minority, who invest, richer! They rent our properties.

    Not everyone can be rich because the rich will have to pass their wealth onto the not so rich.
     
  4. Westminster

    Westminster Tigress at Tiger Developments Business Member

    Joined:
    13th Jun, 2015
    Posts:
    2,963
    Location:
    Perth
    @datto many a smart investor chooses to rent - it's an easier way to get more IPs.
     
    Casteller, SerenityNow and MTR like this.
  5. Kinnon Bell

    Kinnon Bell Finance Broker

    Joined:
    14th Jun, 2015
    Posts:
    478
    Location:
    Cairns
    Where's the real Datto and what have you done with him?!
     
    neK, S.T, Bran and 2 others like this.
  6. hobo

    hobo Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    425
    Location:
    FNQ
    In a very similar vein, the other way that I see money buys time, is that with more money, you are able to afford to pay someone else to do work for you, rather than you do it yourself. This then frees up more time for you, to spend how you choose.

    Examples:
    - housekeeper / cleaner
    - pool cleaner
    - gardener
    - pay someone to paint an IP instead of DIY-ing
    etc etc
     
    Last edited: 8th Jan, 2016
    Leo2413, MTR and Jess Peletier like this.
  7. datto

    datto Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,394
    Location:
    Mt Druuiitt
    Well if you rent and invest, that is different. I suppose there will always be renters but far smaller pool.
     
  8. Sonamic

    Sonamic Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    956
    Location:
    Sunny QLD
    I'm guilty of selling my life to an employer by the hour. For now. . . .
     
  9. hobo

    hobo Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    425
    Location:
    FNQ
    Edit: Sorry, I pressed a wrong button and it posted my above post early, then when I edited it posted again somehow....

    #notaforumexpert :p
     
    Last edited: 8th Jan, 2016
  10. datto

    datto Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,394
    Location:
    Mt Druuiitt
    Disregard these posts, some idiot hijacked my phone.
     
    Doncossack, neK, DaveM and 1 other person like this.
  11. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,785
    Location:
    Perth WA
    I pay a cleaner, and spend the saved time with my family/working/at the beach/exercising/doing stuff that isn't cleaning. I hate cleaning, there's nothing more soul destroying. Money gives me freedom from household monotony ;)
     
    radson, Leo2413, MsAli and 4 others like this.
  12. MTR

    MTR Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    7,500
    Location:
    Perth, Melbourne, USA
    I hate cleaning too, best thing was getting a cleaner, now I have more ME time:)
     
    MsAli, Gockie and Jess Peletier like this.
  13. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

    Joined:
    14th Jun, 2015
    Posts:
    2,123
    Location:
    Sydney & Adelaide
    I bought a black slave who labours around my house each day cleaning until worn out, giving me ample time to sit on the verandah and drink lemonade.

    A good quality robotic vacuum cleaner is worth the expense :D
     
    Jess Peletier likes this.
  14. SerenityNow

    SerenityNow Well-Known Member

    Joined:
    27th Nov, 2015
    Posts:
    247
    Location:
    Victora
    I hired a gardener for the first time in my life.

    The day before he first came over, my husband and I spend hours weeding o_O

    I worry the same thing will happen if we get a cleaner. I prefer to just live happily in filth ;)
     
  15. Casteller

    Casteller Well-Known Member

    Joined:
    30th Jun, 2015
    Posts:
    344
    Location:
    Barcelona
    Yes its funny isn't it, I try to tidy up a bit first if I've hired a cleaner to come over. I pay 8 euro an hour, she does a really good job. Found out the other day she has a degree in electrical engineering from a university in Moscow... said she would rather be a cleaner in Barcelona than an engineer in Russia, lifestyle and weather was more important to her than career.
     
  16. LifesGood

    LifesGood Home Building & Development Consultant Business Member

    Joined:
    26th Jun, 2015
    Posts:
    646
    Location:
    Perth WA
    I have a cleaner that comes on Mondays while I'm at work. I get home after the kids get home from daycare in the evening.

    Allegedly, the cleaner does a great job.
     
    Hanison, radson, Magnet and 1 other person like this.
  17. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    4,956
    Location:
    Sydney
    This is actually really sad to me to tell the truth... I'd rather she be the Electrical engineer... I think if she doesn't get a job in the field soon after graduating she may never get employed in that field... I think that's a huge waste. Its not something everybody has the capacity for, and she must have liked studying it enough to complete the degree... :(
     
  18. Casteller

    Casteller Well-Known Member

    Joined:
    30th Jun, 2015
    Posts:
    344
    Location:
    Barcelona
    Well it comes back to the happiness vs career/money thing... she is happier with her current situation with her family than what she had back in Russia. It is fairly common, I have met taxi drivers who were IT specialists and doctors back in their home country. I expect a lot of the current refugee wave into Europe are highly qualified given Syria is a fairly developed nation. Hard to understand from a stable western society, although I met a few in Sydney who had thrown in their corporate careers for something simpler.
     
  19. JDP1

    JDP1 Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    2,840
    Location:
    Brisbane
    A few things:
    1. The above is not practical. Most people are not born royals nor paris Hilton and thus have to work
    2. The above can be applied to anything eg travel eg hobby etc....

    Its a helluva lot better to enjoy working than not to.
     
  20. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    4,956
    Location:
    Sydney
    Agree. I read the HONY stories on Facebook... so sad to read about the refugees in Syria and them having to move from country to country and being in limbo as they dont have a place to properly settle. In particular though, reading the stories of individuals who contribute to the world above and beyond the average Joe. For example a well known scientist, another individual is an inventor but he said he was getting 1% of the income a Turkish person would get for their inventions because he has no right to work in Turkey and a girl with heaps of siblings who learnt fluent English by herself as a kid and working as an interpreter as a teenager but denied resettlement by the US government, also currently stuck in Turkey. These people having such a difficult time getting a country to settle in and being in limbo is really heart breaking. Such a waste.
    They should be welcome in any community.
    Yes there are many everyday people too though needing to resettle somewhere - its just hard with the sudden influx - very straining situation.

    As to Sydneysiders throwing in their careers - different story. I am guessing the Russian Engineer turned cleaner may not have the opportunity to properly use her skills in the first place. I'd say its all well and good for the high paid Sydneysider to stop working their career if they decide they have enough money and then slow down - its a luxury. I'd guess they have a lot of wealth before pulling the plug.
    I think the Russian Engineering graduate does not have that luxury because I doubt she is already rich if she's now working as a cleaner earning minimal income....