Yes it is, for instance, you buy a new car, if you didnt buty that car, youd be richer, see.
I think the key word in Alex's statement was 'Rich'. Not 'Richer!'
I hate this “Delayed Gratification” idea!
- Thread starter BigCol
- Start date
I think the key word in Alex's statement was 'Rich'. Not 'Richer!'
Before, I would delay gratification and I hated it because I have to take lunch to work almost everyday. Now, I am more relaxed about it... buying lunch more frequently. Look after my health more and the most important of all "invest" in good books to improve myself.
You can do it now in moderation - life is too short!
You can do it now in moderation - life is too short!
Don't know where you work, but at my workplace, the two points above may be mutually exclusive.....
Cheers,
The Y-man
...then buy lunch much much more cheaply by salary sacrificing the lunch you buy - Page 6.Don't know where you work, but at my workplace, the two points above may be mutually exclusive.....
Yes it is, for instance, you buy a new car, if you didnt buty that car, youd be richer, see.
i dunno about that - with salary sacrifice, on a high income and driving quite a few kms, the numbers do stack up pretty well in the scheme of things, such that its a pretty small outlay. it can actually work out better to turn over a vehicle regularly than to hang onto one for a longer period.
I like to spend some of my money - money that *could* be going into financial investments, but instead I invest in my enjoyment. Let me tell you, there's nothing like dropping the needle on a record I've been drooling over for the last few months and hearing those sweet tunes blasting outta the speakers.
Enjoy the journey while keeping your eye on the goal.
Mark
Enjoy the journey while keeping your eye on the goal.
Mark
Yes it is, for instance, you buy a new car, if you didnt buy that car, youd be richer, see.
So what? At what point do you say 'it's time to enjoy life a little'? What's the point of being the richest man in the graveyard? I know someone who could - if they wanted to - live a very comfortable lifestyle right now, yet they are so tight with money that they still buy $5 bottles of wine that taste like turps mixed with cat's piss when they can easily afford a good bottle. That's just one example.
If I was so inclined, I'd much rather buy a nice car that I would enjoy than have a slightly higher net worth. But for me, that money would be spent on records.
Mark
I think you can sacrifice the first 10 years & dedicate to investing & building up a sizeable portfolio; & then look towards the future & focus a bit more on lifestyle & balance.
Yes - you could, but what happens if you get hit by a truck in those ten years or 'what if this' or 'what if that'. Essentially you've sacrificed for nothing.
You can't guarantee that you're gonna be alive tomorrow, so in my mind, it's important to enjoy yourself now as well as focussing on the future.
Mark
You can still enjoy yourself, but you have to make sacrifices if you want to get somewhere in life.
If there no guarantee of tomorrow or the next minute, what are you going to do right now? Achieve all your goals!! C'mon
If there no guarantee of tomorrow or the next minute, what are you going to do right now? Achieve all your goals!! C'mon
I agree with you absolutely on this point. That's why I said 'it's important to enjoy yourself now as well as focusing on the future'. For me its about balancing your current wants with your future goals.
Mark
Cheers Mark - all the best with that!
Why delay gratification - enjoy money now!
Smartest thing I ever did was buy my first, humble IP in my first year of full time work at age 21. Paid it off 4 years later which coincided with my 3rd IP purchase.
Didn't sacrifice a thing, be it holidays, partying or cars. However, I never spent more than $5k on a car until I was 27, even though I loved cars - and still do. I got over this by having old Chargers and Monaros which I (and others) thought were cool but really didn't cost much and provided lots of fun per $!
Trust me, delay just a little instant gratification when you're 20, follow some of the wise words from places like this forum and the dividends in your late 30s and 40s will become quite remarkable.
Its kinda nice going to work with the attitude that "I want to" rather than "I have to" 20 years before retirement age, and to me - thats what its all about
Didn't sacrifice a thing, be it holidays, partying or cars. However, I never spent more than $5k on a car until I was 27, even though I loved cars - and still do. I got over this by having old Chargers and Monaros which I (and others) thought were cool but really didn't cost much and provided lots of fun per $!
Trust me, delay just a little instant gratification when you're 20, follow some of the wise words from places like this forum and the dividends in your late 30s and 40s will become quite remarkable.
Its kinda nice going to work with the attitude that "I want to" rather than "I have to" 20 years before retirement age, and to me - thats what its all about
Brilliant effort! Sounds like you managed a great balance.
Cheers,
The Y-man
p.s. so where did Big Col go?????
I still hate it!!
I can understand where you are coming from WM. Tis difficult to see the immediate good in delaying gratification. Sometimes I find myself being impatient, and wanting what I want NOW rather than to wait. So please indulge me in telling a wee tale:
Imagine you want to grow tomatoes...so you dig a hole and prepare the soil, and plant a seed. You want it to grow fast. So you put on a ton of manure, 100 litres of water, and 20 days of intense sunshine. Poor wee thing hasn't got a chance...you have killed it!
Or...you dig a hole and prepare the soil, and plant a seed. Give it a wee bit of water and manure. Till the soil gently. Next morning there are no green shoots. Damn and $%^&* how frustrating is that! In an impatient temper, you jump all over it. Poor wee thing never had a chance...you have killed it!
Or...you dig a hole and prepare the soil, and plant a seed. Give it a wee bit of water and manure. Till the soil gently. Every day you check to see how it's going...nothing yet...you water and till and stake...and hope...and little green shoots come up...and then one day...you have tomatoes.
It takes time to grow tomatoes...with patience and gentle nuturing...and then you get the fruit. No-one expects a tomato to grow overnight, or faster than it's normal length of time. Even a baby takes 9 months to grow.
So for me, delayed gratification is tending to the tomato plant, watching it grow, getting excited about each new green shoot and the little green buds that will one day be mouth-watering tomatoes. It's about enjoying the process and the journey, as well as the fruit.
great analogy salior ... i too have a list of things that i will be doing "one day" within the next 10 years - once the portfolio can support it without a negative influence, but it is important that you choose something small that can satisfy that feeling of "want" over the short term.
for me, it is jewelry - i love rings (and clothes), but buy all my rings from the pawn shop. they come in around 1/4 the price of new and, once cleaned and resized, they look brand new. i haven't spent more that $600 - but have ended up with rings that would cost over $2000 in the shops. i also buy most of my clothes on sale (like now) so get them for around 50% off.
if you like cars then markxr6t's example was great - a classic car, that looks cool and revs well for a fraction of the cost of new. the mazda and toyota sports cars still look great even after 10+ years.
for me, it is jewelry - i love rings (and clothes), but buy all my rings from the pawn shop. they come in around 1/4 the price of new and, once cleaned and resized, they look brand new. i haven't spent more that $600 - but have ended up with rings that would cost over $2000 in the shops. i also buy most of my clothes on sale (like now) so get them for around 50% off.
if you like cars then markxr6t's example was great - a classic car, that looks cool and revs well for a fraction of the cost of new. the mazda and toyota sports cars still look great even after 10+ years.
