Why are you doing this?

Discussion in 'Investor Psychology & Mindset' started by spludgey, 8th Aug, 2018.

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  1. spludgey

    spludgey Well-Known Member

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    A lot of us are on this investing journey to make $x a year and become financially independent. That's probably the obvious part, but why do you want to be financially independent? After all, investing can be hard work and take a lot out of you (I know I've had a few investing blues recently).
    For me, there are a few reasons:
    • Time. My main driver is not actually the money itself, but the time away from work that it will buy me in the future. Time that I can spend with my family and friends, gardening or on holidays. Retirement has been a dream of mine since before I started work, and that's not only because I'm a little bit lazy. ;)
      I actually no longer want to completely retire, but maybe work on something that's meaningful to me 3 days a week. That would be the ideal scenario.

    • Freedom. Money allows me to avoid some unpleasantness in life that I don't want to deal with. I'm even considering getting a cleaner once I've achieved my financial objectives. I don't think my wife will allow it though as she thinks that it's bad for people to have simple things like that done for them. On some level, I agree, but I still don't like cleaning.

    • Safety. If something happens, money can often fix it. Climate change is currently causing havoc, with scorching heat and bushfires on the northern hemisphere and very cold winters and drought here. Should I need to move my family somewhere more comfortable (be it for economic, geopolitical or environmental reasons), I want to be able to do so.

    • Family. I do want to make sure that my wife, son and any future dependants are okay if anything ever happens to me.
    So while I firmly believe that money doesn't buy you happiness, I'm sure I will be a lot more content once I reach my financial goals.

    How about yourself, what are your drivers?
     
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  2. EN710

    EN710 Well-Known Member

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    Time. I have two dogs and they don’t live forever. I want at least some of my time back so I can enjoy it with them when they’re still here. I don’t worry about people as much... they have their own life to live and they’ll thrive with or without me.

    Other than that, freedom and comfort. And sleep.
     
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  3. hammer

    hammer Well-Known Member

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    Time here too. And it's kinda fun.
     
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  4. Joynz

    Joynz Well-Known Member

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    Just for interest really - as an experience.
     
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  5. SatayKing

    SatayKing Well-Known Member

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    To put food on the table, pay bills and tax (a societal view of mine), spread some around to others if I wish then spend what I want on me for my enjoyment. I'm fortunate in many ways I feel.
     
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  6. AndyPandy

    AndyPandy Well-Known Member

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    I want to build something out of nothing and look back on what I've achieved. It's like a game.
     
  7. Sackie

    Sackie Well-Known Member

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    1. To make lots of money to buy back my freedom and not be reliant on anyone for the lifestyle I want.
    2. I enjoy the creative side of it.
    3. It's a sh*tload of fun.
     
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  8. spludgey

    spludgey Well-Known Member

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    Sleep, yes, that would be nice! But given I've got a 10 month old son, that's out of the question for the time being, even if I money was no object.

    It can be fun. I've lost my spark in recent times, as my savings are currently diminishing, but in time it will return.

    So you're doing it just for the fun of it, no other drivers? You must be filthy rich already, or an enlightened buddhist! :D

    I actually agree, I think taxes are vitally important for a functioning society (que George Costanza) and that they should probably be raised to pay for more infrastructure.

    That's a good one too, a sense of accomplishment. Also partly the reason why I want to keep working at least part time indefinitely.

    I constantly run "what if" scenarios in my head and see whether x would make sense and that can be interesting, I agree.
     
  9. Sackie

    Sackie Well-Known Member

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    I was more refering to the creative side of developing . But I also looooove the hunt for a deal .
     
  10. EN710

    EN710 Well-Known Member

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    Like bones and incorrect pipe filter?
     
  11. Perthguy

    Perthguy Well-Known Member

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    For me it is the challenge of taking something that nobody wants and turning it into something desirable through (mostly) DIY renovations. This involves a lot of power tool usage, which I love and creative problem solving, which I also love :)

    I would not do it for free but money is not my main driver