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On Time, Money and Health

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Re: On Time, Money and Health

#41

Post by pjc50 »

kamaal wrote: post #13

FIRE definitely makes lots of sense. Even if you don't believe in retiring early. You are in some way already retired by the time you hit 40. This is really for most ordinary folks out there, not the exceptional one's that are chasing law degrees and PhDs in 50s. Simple way to understand this is, 50s is your retirement decade. Therefore: 1. When you are 40, your resume has just 10 years worth value. 2. When you are 3…

> You are in some way already retired by the time you hit 40

Wish somebody had told me this before I came into work this morning. I didn't realise I was already retired.

Re: On Time, Money and Health

#42

Post by zemvpferreira »

mythz wrote: post #21

Maybe it's different for others but my best years definitely started from high-school, Uni and backpacking (teens-early 20s) which we had to do on a shoe-string budget which I attribute to hanging out with friends and meeting new people which is much easier to do when you're young. Strangely after Uni and backpacking my earning potential increased dramatically but my happiness definitely plateaued, so looking back I…

I don't have kids and I'm in my mid-30s but your comment definitely resonates with me.

I have plenty of money but what I do miss the most is hanging out with my friends all day like we did in our teens. Unfortunately that routine is almost impossible to recapture until we're... 70? If we're lucky not to have drifted apart by then.

Like the tide it's unsurprising but can still take you by surprise - your happiness is so tied to other people's choices. For instance, I don't know how old your children are but it's almost guaranteed that as they get older, they'll spend less and less time with you.

To me that suggests a playbook of sorts: Enjoy this present moment but invest a bit of your energy in preparing for the next phase. Cultivate a few relationships that are independent of your kids and your spouse. Make sure you can fill the voids as people fade out of your day to day.

Re: On Time, Money and Health

#43

Post by bluedevil2k »

cryptica wrote: post #9
cryptica wrote: post #5

My life is already wasted. I've seen too much and I know too much to ever be completely happy. The best I can do is try to leave behind some kind of positive legacy. Maybe with 20 more years I will achieve something.

It's unbelievable that someone would downvote this. What kinds of freaks are hanging out here? That's not very nice.

Cause you posted a nihilist, negative message with no details at all hoping someone would ask you “what’s wrong?” or “what happened?”. Just write want you want people to know without the attention seeking.

Re: On Time, Money and Health

#44

Post by phgn »

alexpetralia wrote: post #4

One of my friends opined that if most people (limited to people on this forum, let's say) rationally priced in their future earnings, they'd be in debt more often, for longer and earlier in their life. The naive algorithm of "save as much as possible" might land high-earners with a huge nest egg they end up carrying to their grave. I think I agree with that.

Savings allow you freedom from having to earn money, the opposite of debt.

For example, you can temporarily "retire" for a few years and do what you want without pressure. Either directly or indirectly, I think having debt limits you to the path & earnings you've "forecasted" - the opposite of freedom.

At least that's the case for me.

Re: On Time, Money and Health

#45

Post by pjerem »

baobabKoodaa wrote: post #26
pjerem wrote: post #11

Nothing revolutionary in this article but it hit the nail pretty well. As a 30 yo person with health issues (nothing really bad, but not cool either), I totally acknowledge with the idea that staying healthy is the best gift you could do to your kids and I’ll work hard to give that to my son. As on money, I have the feeling that the thing you must solve is finding not only your house, but the house you’ll love, so yo…

> it'll only increase your house value This is very misleading. Yes, if you spend $1 renovating your house, perhaps your house value has increased by $0.50, but you've also lost $1, so financially speaking, you've made a loss. So in the context of investing, it's misleading to state that renovations increase your house value. It may be theoretically possible to make a profit with renovations, in some very specific co…

Ok, maybe I didn't make my point clear.

I'm just saying investing in your house does make your house value increase, not that it's financially interesting. And in an ideal situation, I would anyway never sell this "house I love".

The point i'm trying to make is : if you put your extra money on your house, it's never going to be a total loss and if you do it well it can increase your happiness by a lot. It's a personal thing but I think that feeling well at home (not only materially, but that's another point) is the foundation of stable happiness.

Re: On Time, Money and Health

#46

Post by [deleted] »

bluedevil2k wrote: post #29
baobabKoodaa wrote: post #26

Earlier quoted context omitted.

> it'll only increase your house value This is very misleading. Yes, if you spend $1 renovating your house, perhaps your house value has increased by $0.50, but you've also lost $1, so financially speaking, you've made a loss. So in the context of investing, it's misleading to state that renovations increase your house value. It may be theoretically possible to make a profit with renovations, in some very specific co…

I blame the HGTV shows for this misconception that a house renovation has a positive investment return. They show things like “a $100,000 kitchen remodel leads to an increase in house value of $80,000, an 80% return!”, when of course the real return is -20%. That’s not even counting time-value, which may lower it to -40% or -50% depending how long you hold the house. When you factor in opportunity cost...even worse.…

[deleted]

Re: On Time, Money and Health

#47

Post by quickthrower2 »

cryptica wrote: post #9
cryptica wrote: post #5

My life is already wasted. I've seen too much and I know too much to ever be completely happy. The best I can do is try to leave behind some kind of positive legacy. Maybe with 20 more years I will achieve something.

It's unbelievable that someone would downvote this. What kinds of freaks are hanging out here? That's not very nice.

I upvoted, but I’d like to know more about your story, if you are ok to post it.

Re: On Time, Money and Health

#48

Post by jhanschoo »

pjc50 wrote: post #36
andi999 wrote: post #32

Earlier quoted context omitted.

I am shocked as well that intergenerational wealth building is not a thing. I mean do people really think 'I was poor/had to earn everything so my kids should have it the same way'?

Not everybody even wants to have kids. shrug Also, the only companies who put intergenerational wealth building into their advertising material are the expensive watch manufacturers.

If you don't have kids, and are rationally altruistic, it can be argued that you can create more expected pleasure by willing your fortune to charity than spending it on yourself, or earning just the minimum.

Re: On Time, Money and Health

#49

Post by cryptica »

testermelon wrote: post #27
cryptica wrote: post #9

Earlier quoted context omitted.

It's unbelievable that someone would downvote this. What kinds of freaks are hanging out here? That's not very nice.

Yes, this is where I feel a downvote is not appropriate. I can see why one has the urge to downvote this though. It has to do with “ruining the positive atmosphere”. Instead of offering alternative view, heck, even just a simple encouragement, some people just default to knee jerk reaction of disapproval.

It feels like a form of discrimination against unhappiness. It reminds me of the book 'Brave New World' - In the book, unhappy people are looked down upon and they see sadness as an illness which needs to be medicated with 'Soma'.

Re: On Time, Money and Health

#50

Post by WJW »

pjc50 wrote: post #36
andi999 wrote: post #32

Earlier quoted context omitted.

I am shocked as well that intergenerational wealth building is not a thing. I mean do people really think 'I was poor/had to earn everything so my kids should have it the same way'?

Not everybody even wants to have kids. shrug Also, the only companies who put intergenerational wealth building into their advertising material are the expensive watch manufacturers.

> Also, the only companies who put intergenerational wealth building into their advertising material are the expensive watch manufacturers.

Of course, because companies have a vested interest in consumers spending more rather than less. But there are reasons to do something other than "some company advertised that I should do this". Every family that built up generational wealth has had (by definition) at least one generation who earned more than they spent.

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