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Sometimes its not just about the money

Discussion in 'Living Room' started by MTR, 11th Aug, 2016.

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  1. MTR

    MTR Well-Known Member Premium Member

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    I understand we are all here to learn and work on building/creating wealth, but perhaps sometimes we should throw caution to the wind and enjoy the moment. Spend and live a little and I am not talking about being reckless with money.

    I know an investor who lives a miserable life, saving every penny, their tenants are living a better life, makes little sense to me.

    No point making money if you are not enjoying some of the spoils today and you certainly cant take it with you.

    MTR:)
     
  2. wylie

    wylie Moderator Staff Member

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    Agree with this. We are heading off for eight weeks in Europe and the USA. We couldn't afford this sort of holiday when we were younger. Our kids thought a good holiday was a week at the coast until we took them to LA and San Fran ten years ago. The impetus for that trip was a mammogram scare for me. It wasn't cancer, but it made me think about spending some of the money we'd worked so hard to accumulate.

    We went to Europe for our 25th wedding anniversary and now we will be in Paris for our 30th anniversary.

    It is hard to let go and spend sometimes. I want to have enough for us to live comfortably into our older years and I think we've hit a good balance. And of course, we never know if we will reach the older years so it is time to live a little.
     
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  3. MTR

    MTR Well-Known Member Premium Member

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    Grea
    Great
    San Fran amazing
     
  4. bashworth

    bashworth Well-Known Member

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    I would agree. I have always been fairly frugal on things like cars, homes, and expensive 'Toys' but always been prepared to spend on experiences like holidays.
     
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  5. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Have they said their life is miserable, or is that the perception you have of the way they live?
     
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  6. Bounce

    Bounce Well-Known Member

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    For me having recently lost everything due to bad investing it is definitely not about the money anymore! Luckily I traveled a lot in my younger years! camping will now be my favorite activity lol
     
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  7. MTR

    MTR Well-Known Member Premium Member

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    They have mentioned selling their properties due to the stress, ie tenants and finances are tight.

    Also mentioned whether the sacrifice and pain was worth it....considering the amount of properties they would need to own vs the income required
     
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  8. Perthguy

    Perthguy Well-Known Member

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    That does sound miserable
     
  9. Phase2

    Phase2 Well-Known Member

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    Yeah I'm a scrooge, but luckily I have a wife who reminds me that there's no point in being old and rich if you don't make the most of the experiences you could have when you're young(ish).

    It makes for a nice balance.
     
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  10. Tonibell

    Tonibell Well-Known Member

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    Have not worked out how to enjoy the spoils as yet - this is due to a combination of private school fees and an expanding portfolio.

    Agree in general that enjoying some of it is the way to go.
     
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  11. sanj

    sanj Well-Known Member

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    Agree with @MTR . I also believe that actually enjoying the spoils along the way can lead to you making more money due to motivation to keep doing what you enjoy. For me I'm heavily family and lifestyle driven and I keep aside a decent amount from every "win" to be as entirely frivolous as I wish. Between 2 long haul and about 6 SEA holidays, rent and my generally slightly indulgent lifestyle I would've spent well over 200k of after tax dollars just in 2014 alone and don't regret any of it. Got to live where I had wanted to ever since I moved to perth in 1997, had amazing experiences locally and overseas I'll cherish for a long time and most importantly got to help out some people close to me.

    It's only money and we're pretty damn fortunate to live in a country with a lot more opportunities than people willing to take them.
     
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  12. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    I believe it's their attitude rather than their situation which makes them miserable.
    There would be plenty of people with positive attitudes who would love to be in their current position.
    Those with negative attitudes generally play the victim, even if they are doing ok.
     
  13. MTR

    MTR Well-Known Member Premium Member

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    In this case it's about not balancing lifestyle vs financial planning/investments
     
  14. datto

    datto Well-Known Member

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    I lashed out on Maccas tonight.

    Topped it off with a 30c soft serve ice cream cone ( I plonked 50c on the counter and told the kid to keep the change).

    A bit of extravagance every now and then makes one feel wonderful.
     
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  15. Azazel

    Azazel Well-Known Member

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    Totally. You can't take it with you.
    I get "delayed gratification" as a strategy while you save for deposits early on, or pay off a PPoR, but I reckon there's no point to it all if you don't enjoy it. Go on a holiday, buy an impractical car, start a home business, write that novel... we're all put here for a reason, and it's not to work our whole lives, die and leave it all to the kids.
     
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