Poor V Rich mentality?
- Thread starter BayView
- Start date
Exactly...
Life is too bloody short to spend accumulating and then to keep on accumulating (raising bars each time the goal is achieved) and delaying gratification until one reaches the grave. (This is a general assessment and is part of my philosophy on wealth and spending).
Wealth, properties, equity, portfolio are simply a means to an end. Good on those with big altruistic goals who want to do charity work with majority of that wealth.
My personal goal and now life philosophy is to have a great time with my wealth. Acquire aggressively and build and have fun doing that but most importantly to spend some of that money.
At the expense of sounding hedonistic I splurge on everything - from new expensive cars and suits to very expensive watches and fine dining and collecting antique stuff, sporting memorabilia etc etc and everything else that gives me pleasure...
Who gives a toss if its a very smart decision or poor decision to buy a new car ! That line of thinking just leads to (in my opinion) a sense of justifying and over qualifying every little tiny weeny bit of spending. I would rather use that energy and time in finding new ways of generating wealth and in fast-tracking my wealth pursuit !
Now some might deduce (going by their past posts) that in doing that I somehow have poor relationships, broken family, selfish lifestyle or a life lacking contention or inner-peace and it has been common theme in the forum. I however could not be happier, content and at peace and could not have hoped for better quality relationships.
I have seen too many people with too much wealth becoming habitual scrooges with a constant fear of spending and acquiring mountains of wealth - just to leave for the next generation or being in process of doing that.
I could understand doing that myself if I could live for 500 years. Unfortunately it is such a small time that we have and realising the scarcity of my time here I believe it has turned me into what I call an investor-spender
.So long as my gross wealth is rocketing up and doing that at a significantly higher rate compared to my spending rate, I refuse to live like a scrooge and look forward to spending all the way to my grave
Harris
Harris - What if you dont actually enjoy accumulating thing or buying toys?
I can honestly say that is my true philosophy.
I couldnt think of anything more embarrasing then having a big house, big car and flashy suit.
As hard as it may be to believe to some, I actually prefer driving an older car.
Simplicity gives me joy.
We all judge eachother whether we like it or not. Wouldnt it be better to be judged for what you are rather than what you have. If you have lots of stuff then that represent you and people have not other choice but to judge you...because thats what sticks out!
If we look deeper into out motiveds for buying toys and possessions rarely are they as clear cut as 'so im hedonistic shoot me - tyope attitude'. There is usually a reason that has little to do with JOY for spending money on all that stuff...
I can honestly say that is my true philosophy.
I couldnt think of anything more embarrasing then having a big house, big car and flashy suit.
As hard as it may be to believe to some, I actually prefer driving an older car.
Simplicity gives me joy.
We all judge eachother whether we like it or not. Wouldnt it be better to be judged for what you are rather than what you have. If you have lots of stuff then that represent you and people have not other choice but to judge you...because thats what sticks out!
If we look deeper into out motiveds for buying toys and possessions rarely are they as clear cut as 'so im hedonistic shoot me - tyope attitude'. There is usually a reason that has little to do with JOY for spending money on all that stuff...
I just want a passive income of around $20k (2 IPs, easy to do) so I can fart around doing things I enjoy all day. Small things amuse small minds. Mind you I already do this, but the fraction of my income that comes from 'things' vs the government isn't high enough. Working on that one.
(also on the topic of simplicity, this is a good moment for a plug for http://simplesustainable.com , which currently doesn't have anywhere near enough content about living the simple life)
(also on the topic of simplicity, this is a good moment for a plug for http://simplesustainable.com , which currently doesn't have anywhere near enough content about living the simple life)
The way that I see it, is that hedonism revolves around the notion of "don't fight it if it feels good".
What feels good for one doesn't necessarily feel good for another. To each their own, hey?
Then you dont... and there is nothing wrong with that ! Just as there is nothing wrong with those that want to spend their money ! Whatever rocks your boat...
The point of my post was to put in my 2 cents re earlier posts talking about how wrong it is to buy a new car even if one could afford it.
I am only accumulating wealth so that I could spend some of it on the way - I don't want to become a hoarder. If someone wants to do that then its their perrogative. I dont see the point of a single point agenda of chasing wealth whilst living like paupers.
Doesnt mean those that are doing it are somehow foolish... Just that I cant do it myself and am totally opposite of that.
Harris
Great post. I'm with you Aussierogue. Now where are my robes ...........
Anyway, we are obviously all so different in our make ups which makes these threads so insightful into human character.
Harris - I know what you are getting at, because you are in the majority. my question is why do you only see 2 polarities - ie either someone spends or someones a hoarder?
James - there is a lot to be said for following ones feelings but how many of us really know why we do things or indeed what we actually feel. Most people have no self awareness - ask any psychiatrist, psychologist, guru, spiritual teacher, wise man etc and they will agree.
We do things mostly out of fear. Fear of not looking or being successful, fear of dying young, fear of not being special, fear of not being loved..
Then we rationalise decisisons by saying that at the time it made me feel good. i mean what silly person would make a decision that would nto in some way try and make us feel good? Yet the truth is very different...look at divorce rates, look at people who hate their jobs, look at smoking etc etc
The problem with decisisons based on fear is that these decisions are mostly about yourself. Decisions based on awareness and understanding natrually then involve 'others'. Its the motives and the reality behind the decisions that are important not the decisions itself.
So buying a new car is not inherintly bad or good. BUT if you have a history of making bad decisisons, decisions based on youself, decisisons based on fear then a new car in not IMO a good decision.
James - there is a lot to be said for following ones feelings but how many of us really know why we do things or indeed what we actually feel. Most people have no self awareness - ask any psychiatrist, psychologist, guru, spiritual teacher, wise man etc and they will agree.
We do things mostly out of fear. Fear of not looking or being successful, fear of dying young, fear of not being special, fear of not being loved..
Then we rationalise decisisons by saying that at the time it made me feel good. i mean what silly person would make a decision that would nto in some way try and make us feel good? Yet the truth is very different...look at divorce rates, look at people who hate their jobs, look at smoking etc etc
The problem with decisisons based on fear is that these decisions are mostly about yourself. Decisions based on awareness and understanding natrually then involve 'others'. Its the motives and the reality behind the decisions that are important not the decisions itself.
So buying a new car is not inherintly bad or good. BUT if you have a history of making bad decisisons, decisions based on youself, decisisons based on fear then a new car in not IMO a good decision.
I couldn't agree more i tend to have this argument alot, but keep on getting told that a) I don't understand and maybe when im older i will and b) Not everyone is spoilt like myself. I work 6-7 days a week and i have what i have because i work my **** off!! Don't see how that makes me spoilt.....!!!
Last week I did a tour of the state in my 10 year old V6 Honda. It was $54 grand new and I could not afford that but I've had it 7 yrs now and it is still fast and comfortable. The last leg home was 1,300k in 13 hours. Couldn't do that in a buzz box.
Now that I know it can still run hard, fast and comfortable I'll fix a few little things and keep it another few years yet.
I think if you buy the best car you can afford (new or s/hand) you will enjoy owning it and will be happy keeping it a little longer thus reducing the real costs of ownership.
I loved my Honda Integra even when it was 12 years old. Went like a scolded cat and had nice style. Again, not a car I could/would have bought new.
Now that I know it can still run hard, fast and comfortable I'll fix a few little things and keep it another few years yet.
I think if you buy the best car you can afford (new or s/hand) you will enjoy owning it and will be happy keeping it a little longer thus reducing the real costs of ownership.
I loved my Honda Integra even when it was 12 years old. Went like a scolded cat and had nice style. Again, not a car I could/would have bought new.
Aussierogue:
The decisions and actions and behaviour we can make are also interesting, another couple of great reads, (for anyone interested), are:
http://blogcritics.org/books/article/book-review-mistakes-were-made-but/
Mistakes Were Made (But Not by Me) by Carol Tavris and Elliot Aronson
Excerpt:
Choice Theory (William Glasser)
http://www.wglasser.com/index.php?option=com_content&task=view&id=12&Itemid=27
It is not be all-end all to humans, but it is interesting reading and brings before us all some delectible considerations.
The decisions and actions and behaviour we can make are also interesting, another couple of great reads, (for anyone interested), are:
http://blogcritics.org/books/article/book-review-mistakes-were-made-but/
Mistakes Were Made (But Not by Me) by Carol Tavris and Elliot Aronson
Excerpt:
Choice Theory (William Glasser)
http://www.wglasser.com/index.php?option=com_content&task=view&id=12&Itemid=27
It is not be all-end all to humans, but it is interesting reading and brings before us all some delectible considerations.
One more thing I was just thinking about that I would like to share, for those who might consider buying a new car.... view it like an investment, if you do it right you won't have to buy another car for a very long time if at all. Look for something that should hold it's value or that might even rise like a special edition model and one of the classic brands like Mercedes, BMW or Renault, even second hand these cars can retain or rise in value. If you checkout current prices for mint condition older models of the harder to find editions then they only appreciate over time. The other alternative is to buy something really cheap like a Hyundai Getz if you live in a city, I think they sell for just over 10k new and they run pretty well, you would think you are in a corolla as I just hired one out for 4 days.
Couldn't have said it better myself. Definatley not alone.
Nope Evand not alone in his views thats for sure!
I'm with you aussierogue.
I try and keep toys and possessions (and their ''attachments'') to a minimum, but having said that, don't live like a scrooge either.
I just lashed out on a new 2.5k running treadmill, an upgrade from the $300 walking treadmill I previously had... very satisfying!
That's ''enough'' for me on the treadmill stakes, I don't have any ambition to upgrade to the 8k ''The Biggest Loser" treadmills on the TV show. I just needed something that was better and safer on the knees.
It's all relative I think.
I'm sure even you have your standards on the kind of car you would drive, place you would live in, clothes you would wear etc...
Eg. would you clothe your whole family with second hand stuff from the Salvos? Simple and cheap...
If you take your line of thinking to an extreme you'd be living the life of a monk, or a modern day Ghandi.
And what of the accumulation of appreciable assets (eg. property) vs. the accumulation of material possessions... ?
Are they both symptoms of the same underlying problem?
I try and keep material possessions to a minimum, but seem to get never-ending joy from the accumulation of assets!
There has to be some balance I think.
I'm trying to balance things out by spending on some selected material things, eg. a newish car. For practical, egotistical and ''hedonistic'' reasons.
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JIT
You are 100 percent correct. I still accumulate things, no issue there.
My car is a 10 year old subaru. I live very well and no one describes me as too much of a scrooge. My family take holidays to Noosa most years, when i travel i travel business class (for business trips that is). The kids wear mostly new clothes but also waer handme downs.
The thing about being a bit detached is that money shouldnt mean much either way. Possessions shouldnt mean much either way. So I/We can take em or leave em. I try not to be dogmatic about anything.
Also when your overall goal is simplicity then you make decisisons that dont complicate things - thats what I reckon anyway.
BTW there is also an element of learning from the masters - like gandhi, tolstoy, buffet, buddha, jesus whoever they may be. For 20 years ive soaked alot of that stuff up because it interests me. You gravitate towards what interest you and i am no exception.
But the key here is to know that in reality i am a middle class kid from melbourne trying to make sense of the world. And thats about it!
Someone once said a man just needs 3 things in life. Someone to love, something to beleive in and somewhere to go during the day! Somersoft helps fullfil number 3.....
Cheers
Aussie
You are 100 percent correct. I still accumulate things, no issue there.
My car is a 10 year old subaru. I live very well and no one describes me as too much of a scrooge. My family take holidays to Noosa most years, when i travel i travel business class (for business trips that is). The kids wear mostly new clothes but also waer handme downs.
The thing about being a bit detached is that money shouldnt mean much either way. Possessions shouldnt mean much either way. So I/We can take em or leave em. I try not to be dogmatic about anything.
Also when your overall goal is simplicity then you make decisisons that dont complicate things - thats what I reckon anyway.
BTW there is also an element of learning from the masters - like gandhi, tolstoy, buffet, buddha, jesus whoever they may be. For 20 years ive soaked alot of that stuff up because it interests me. You gravitate towards what interest you and i am no exception.
But the key here is to know that in reality i am a middle class kid from melbourne trying to make sense of the world. And thats about it!
Someone once said a man just needs 3 things in life. Someone to love, something to beleive in and somewhere to go during the day! Somersoft helps fullfil number 3.....
Cheers
Aussie
I just wanna discuss the irrationality of buying a new car.
Lets just say that you rationalise the purchase because the car is the best on the road and the performance is great - therefore the purchase is justified and it makes you inherantly happy.
This needs to be compared to the alternatives which is say a 10 year old second hand car.
But at the end of the day a car, broken down into parts, is basically a machine with bucket seats that gets you from A to B. Its irrational to love something that is a mode of transport that will never be THAT comfortable because at the end of the day a seat is a seat! Find me a car that I can lie down in then i will get excited!
So why then do some people get excited about new cars - and the real truth usual is because the buyer has something that other people dont - therefore you feel better about you lot in life. If this is truely the case then what a shallow lot we are...
Dont belive me? A survey was once done asking a simple question
What would you prefer
1. To be paid 100k salary when everyone else is earning 150k
or
2. The be pad 50k salary when everyone else is earing 30k.
all else being equal.
Rationally we should choose 1 - because 100k is more than 50k BUT Everyone in reality chooses number 2 because we compare ourselves to the point of destraction.
So that in a nutshell is why having a flashy new car has mostly to do with how you wish to project yourself rather than any realy overall benefit. Ask the advertising guys at holden, ford, Mercedes and BMW and I bet you they agree with me..
Then one might ask - yeh so what...its still my right to be shallow and buy a new car regradless of the motivation. And that is true. Everything is a choice. Our lives are made up of choices. But how much of these typed of choices are actually making us unhappy rather than happy. How many of these types of choices produce anything with long term benefits, any thing truely worthwhile.
Ok now it really is time for a beer.
Cheers
Aussie
Lets just say that you rationalise the purchase because the car is the best on the road and the performance is great - therefore the purchase is justified and it makes you inherantly happy.
This needs to be compared to the alternatives which is say a 10 year old second hand car.
But at the end of the day a car, broken down into parts, is basically a machine with bucket seats that gets you from A to B. Its irrational to love something that is a mode of transport that will never be THAT comfortable because at the end of the day a seat is a seat! Find me a car that I can lie down in then i will get excited!
So why then do some people get excited about new cars - and the real truth usual is because the buyer has something that other people dont - therefore you feel better about you lot in life. If this is truely the case then what a shallow lot we are...
Dont belive me? A survey was once done asking a simple question
What would you prefer
1. To be paid 100k salary when everyone else is earning 150k
or
2. The be pad 50k salary when everyone else is earing 30k.
all else being equal.
Rationally we should choose 1 - because 100k is more than 50k BUT Everyone in reality chooses number 2 because we compare ourselves to the point of destraction.
So that in a nutshell is why having a flashy new car has mostly to do with how you wish to project yourself rather than any realy overall benefit. Ask the advertising guys at holden, ford, Mercedes and BMW and I bet you they agree with me..
Then one might ask - yeh so what...its still my right to be shallow and buy a new car regradless of the motivation. And that is true. Everything is a choice. Our lives are made up of choices. But how much of these typed of choices are actually making us unhappy rather than happy. How many of these types of choices produce anything with long term benefits, any thing truely worthwhile.
Ok now it really is time for a beer.
Cheers
Aussie
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With all due respect, I must disagree (for my own circumstances, at least).
Driving my car makes me feel good;
Therefore, it must be.
And no, I don't believe this is because of how I think that others may perceive me. I enjoy it most on long quiet (winding
) roads without anyone else around. Ah, now this, I can agree on
James
With due respect..You are coming from a hedonistic angle and we could go into the long 'ineresting' history of the hedonistic movement.
I can take those long winding drives in my 10 year old subaru.
What sounds good at the time - years later doesnt always paint such a glorious picture.
Cheers
Aussie
With due respect..You are coming from a hedonistic angle and we could go into the long 'ineresting' history of the hedonistic movement.
I can take those long winding drives in my 10 year old subaru.
What sounds good at the time - years later doesnt always paint such a glorious picture.
Cheers
Aussie
