Lucky they don't charge for water. 
Don't drink myself, can imagine what it would have cost me over the years if I had.
Sacrafices as an investor
- Thread starter charlesemilio
- Start date
I sacrifice my Cashflow.
But I don't seem to go without.
I have a large house with fantastic waterviews.
I have a flash car we bought at 3 yrs old - I commute and have preferred safety in cars with my children. However I don't own it - financially better to lease.
I have never been a shopper and
I consider myself "low maintenace'. No regular haircuts, no nails (bit hard to have nails when I box) etc.
No Plasma,
No new appliances
45yr old house that we are continually renovating.
No meals out
No lunches - too busy.
No spontaneous spending.
regards Jo
But I don't seem to go without.
I have a large house with fantastic waterviews.
I have a flash car we bought at 3 yrs old - I commute and have preferred safety in cars with my children. However I don't own it - financially better to lease.
I have never been a shopper and
I consider myself "low maintenace'. No regular haircuts, no nails (bit hard to have nails when I box) etc.
No Plasma,
No new appliances
45yr old house that we are continually renovating.
No meals out
No lunches - too busy.
No spontaneous spending.
regards Jo
All jokes aside...I agree with Lizzie
I don't regard the way we live as "sacrificing" We are just not spenders.
I like to maximise evry dollar I spend (god knows I work hard enough for it)
So my list of :
1: McMansion PPOR
2: Brand new cars
3: Overseas holidays
4: $$$$$ on "fashion" (what is wrong with vinnies?)
5: $15 per person for a movie. (wait 3 months and pay $1 on a tuesday on dvd)
Reads like this
1: Kids left home (YAY) we downsized to a 1br resort unit on the Sunny Coast (Lifestyle choice much more than $$ choice)
2: AM happy with my 5yo commodore
3: Rather see OZ first.. Daughter in NZ who we see occasionally (ususally on points)
4: Love my fashion (almost) as much as the next girl but refuse to spend a weeks wage on a dress. (Get it at my local "champagne Charlies" next month for 1/2 price anyway )
5: Movies.. my couch is comfier than the movie seats and I can eat decent food and good coffee. and pause to go to the loo if need be
So no..now that I think of it .... No sacrifice at all
I don't regard the way we live as "sacrificing" We are just not spenders.
I like to maximise evry dollar I spend (god knows I work hard enough for it)
So my list of :
1: McMansion PPOR
2: Brand new cars
3: Overseas holidays
4: $$$$$ on "fashion" (what is wrong with vinnies?)
5: $15 per person for a movie. (wait 3 months and pay $1 on a tuesday on dvd)
Reads like this
1: Kids left home (YAY) we downsized to a 1br resort unit on the Sunny Coast (Lifestyle choice much more than $$ choice)
2: AM happy with my 5yo commodore
3: Rather see OZ first.. Daughter in NZ who we see occasionally (ususally on points)
4: Love my fashion (almost) as much as the next girl but refuse to spend a weeks wage on a dress. (Get it at my local "champagne Charlies" next month for 1/2 price anyway
)5: Movies.. my couch is comfier than the movie seats and I can eat decent food and good coffee. and pause to go to the loo if need be
So no..now that I think of it .... No sacrifice at all
what a travesty! how can you trust a guy that doesn't drink ?!!
jk
Who said you could trust me Stu?
Lucky they don't charge for water.
hehe yeah, I'll bet those Evian shares from 1985 are looking pretty good now!
I can't think of a single thing I have sacrificed to invest. If anything, investing has allowed me to spend even more money on luxuries than I would have been able to anyway.
I eat out at nice ($40+ for main course) restaurants probably on average twice a week, plus additional take-away when can't be bothered cooking;
I buy good quality, fashionable clothes, shoes and accessories regularly (too regularly atm);
I get expensive haircuts and spend a lot of money on looking after myself eg skin care, gym fees and a personal trainer;
If I see something I want eg new mobile phone, stereo system or whatever, I will buy it on the spot although doo-dads don't interest me.
Don't want or need a new car, so it is not a sacrifice to me not to own one - my 14 yo Hyundai still gets me from A to B just fine and uses hardly any fuel.
We go on 2 or 3 holidays each year usually domestic but I want to see Australia first before heading OS again anyway, so that is not really a sacrifice. Heading to Darwin in July and can't wait. Flights are paid using Mr Natmarie's points so very little cost involved there.
We don't have a plasma but don't want or need one anyway. We have a huge TV that was left behind by ex-flatmate and it does the job just fine.
The best thing is that I have just taken 2 years off work to complete my uni degree (paid upfront) which I never would have been able to do if I had not invested.
I eat out at nice ($40+ for main course) restaurants probably on average twice a week, plus additional take-away when can't be bothered cooking;
I buy good quality, fashionable clothes, shoes and accessories regularly (too regularly atm);
I get expensive haircuts and spend a lot of money on looking after myself eg skin care, gym fees and a personal trainer;
If I see something I want eg new mobile phone, stereo system or whatever, I will buy it on the spot although doo-dads don't interest me.
Don't want or need a new car, so it is not a sacrifice to me not to own one - my 14 yo Hyundai still gets me from A to B just fine and uses hardly any fuel.
We go on 2 or 3 holidays each year usually domestic but I want to see Australia first before heading OS again anyway, so that is not really a sacrifice. Heading to Darwin in July and can't wait. Flights are paid using Mr Natmarie's points so very little cost involved there.
We don't have a plasma but don't want or need one anyway. We have a huge TV that was left behind by ex-flatmate and it does the job just fine.
The best thing is that I have just taken 2 years off work to complete my uni degree (paid upfront) which I never would have been able to do if I had not invested.
Having read about the sacrifice of Bon, in comparison what I have offered up are just life-style choices. Now - living in the plushest suburb of Canberra, modern house with outlook, driving a car just under the luxury car tax threshold with o/s travel on the agenda every year.
Sacrifice - my big LCD was stolen a year ago and the insurance company has settled on it, but I have not replaced it. We three adults in the house, including my 17 y.o. son do not seem to have missed it as we all have our separate PCs connected with broadband internet. That is the glaring sacrifice. The silver lining is at the rate the Aussie currency is we can expect to get a larger and better TV for less when we are feeling less 'tight'.
Trying to rein in the number of eat-outs is a problem. However, it is good opportunity to point out to the missus that the eat-out means there may be a need for part-time wages to supplement her pension later on. Yay, a point for lowering the expectation of an all-sufficient pension if there is less caution on life-style expenses now.
Another thing is 'sacrifice' is good for the soul, the son is less pampered. However, just got him an electric metal guitar. Can't stop entirely the expectations of Y generation. Next year there will be the struggle to fit in a car. Suffice the problem for this year.
Look what happens to that Neal MP when wielding power without the need to sacrifice does to the 'soul'.
Sacrifice - my big LCD was stolen a year ago and the insurance company has settled on it, but I have not replaced it. We three adults in the house, including my 17 y.o. son do not seem to have missed it as we all have our separate PCs connected with broadband internet. That is the glaring sacrifice. The silver lining is at the rate the Aussie currency is we can expect to get a larger and better TV for less when we are feeling less 'tight'.
Trying to rein in the number of eat-outs is a problem. However, it is good opportunity to point out to the missus that the eat-out means there may be a need for part-time wages to supplement her pension later on. Yay, a point for lowering the expectation of an all-sufficient pension if there is less caution on life-style expenses now.
Another thing is 'sacrifice' is good for the soul, the son is less pampered. However, just got him an electric metal guitar. Can't stop entirely the expectations of Y generation. Next year there will be the struggle to fit in a car. Suffice the problem for this year.
Look what happens to that Neal MP when wielding power without the need to sacrifice does to the 'soul'.
I wouldn't say we I sacrifice much to invest, except possibly overseas travel. We figured on doing our big trips once we retire at mid forties, so happy to wait until then.
We have a sensible sized (not small) 4 bedroom home, that we built a few years ago, and don't owe much on. I buy cars new but tend to keep them a while (cars are 3 and 5 years old, owe nothing, and they look to have plenty of useful life left yet). We also don't spend spontaneously, and don't buy expensive clothes. Dinner out or takeaway is a semi-regular thing with us, but for the 3 of us (myself, wife and son) it rarely costs more than $40-50. Also, I buy wine through the wine club (half price I'd say), and home brew beer for domestic consumption with friends.
My approach has always been to decide how much I want to save/invest, do the saving/investing on payday, and then not get too worried about spending the rest. We save/invest probably half of what we earn.
Compared with our friends (in similar professional roles, anyway), we seem to be an average, comfortably well off young family, but one who doesn't take big holidays - unlike our friends. They have a vague idea that we are a lot better off financially than them, but aren't quite sure how it's all happened. They don't understand why we don't travel more. And I don't really care.
We have a sensible sized (not small) 4 bedroom home, that we built a few years ago, and don't owe much on. I buy cars new but tend to keep them a while (cars are 3 and 5 years old, owe nothing, and they look to have plenty of useful life left yet). We also don't spend spontaneously, and don't buy expensive clothes. Dinner out or takeaway is a semi-regular thing with us, but for the 3 of us (myself, wife and son) it rarely costs more than $40-50. Also, I buy wine through the wine club (half price I'd say), and home brew beer for domestic consumption with friends.
My approach has always been to decide how much I want to save/invest, do the saving/investing on payday, and then not get too worried about spending the rest. We save/invest probably half of what we earn.
Compared with our friends (in similar professional roles, anyway), we seem to be an average, comfortably well off young family, but one who doesn't take big holidays - unlike our friends. They have a vague idea that we are a lot better off financially than them, but aren't quite sure how it's all happened. They don't understand why we don't travel more. And I don't really care.
we're only new investors but we've chosen to give up alot of time to spend it on making money through property
Welcome PropInvesta!
I don't agree with the term "Sacrifice". It implies lack or having to give up something in exchange for something else.
I've adopted a different mindset. One of abundance, NOT lack.
I choose to invest first and live the lifestyle that is in alignment with what remains and there's always plenty remaining.
You CAN have your cake and eat it too
Good on you Bon! Great to hear such a positive attitude and outlook, kudos!
Don't drink myself, can imagine what it would have cost me over the years if I had.
Yeah, I see a lot of people pissing away all their money on their days off and getting trapped in an expensive lifestyle they can only maintain on an above average income. Single guys with no commitments earning $55-100k+ can't save any money...
Not only that, I believe reducing/eliminating alcohol has a flow on effect to all other areas of your life. My work performance, relationships, finances, nutrition & health have all improved since giving up alcohol.
I am treating everything seriously as a business over the next few years at least, so I want maximum focus & discipline during this time.
I suspect the sacrifices made are dependant on
1. how far along the investing rd we are. Those who have been invested for some time are more likely to not need to make any sacrifices.
2. income/job. Those pulling in more $'s can build up investments with less sacrifice than those with average or below incomes.
Obviously some live more frugally than others regardless of there income or financial position. I'm more on the frugal side, so not having some things mightn't be much a sacrifice to me, but might would be to others.
1. how far along the investing rd we are. Those who have been invested for some time are more likely to not need to make any sacrifices.
2. income/job. Those pulling in more $'s can build up investments with less sacrifice than those with average or below incomes.
Obviously some live more frugally than others regardless of there income or financial position. I'm more on the frugal side, so not having some things mightn't be much a sacrifice to me, but might would be to others.
I don't agree with that philospophy Xen.
I KNOW there is an abundance of money out there, but you need to be realistic FIRST. Simply thinking there is an abundance of wealth won't get you there; you need to take the correct action.
For most people who are of limited incomes, or average incomes, they simply MUST "go without" in many areas if they want to free up some investment funds and get out of the rat race before they die of old age. By "go without" I mean look for ways to live the same life, but on far less, and if you are wasting loads of cash on crap (most people are in that bracket) then go without for 5 years to secure your future.
For them; money IS scarce, but it's due to their consumption habits and general money habits that they are without money, and this fuels their belief that there is a scarcity of money.
I look for ways to minimise my discretionary expenditure at every turn, so that I can free up more funds for investing in that abundance out there, and accelerate my path to financial freedom quicker.
Our mindset is to still live the good lifestyle, but without wasting money on useless stuff. This could be something simple like buying a 3 year old BMW rather than the brand new one and paying top dollar. Of course; for me, it's not buying the BMW anyway - at least not until my investment income can pay for it.
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During the last two years, I've definitely sacrificed my time far more than I've wanted to....for the sole purpose of letting my capital base continue to grow.
Having now achieved that growth, and having just spent a fantastic time on holidays with my family, the first in a very long while.....I've come to the conclusion that the time sacrificed sitting here in this deadpan office for 40 hours a week is simply not worth it.
Meeting people on the cruise ship with less than 2% of what we have, who were happily retired and living their life to the hilt answerable to no-one....that really struck a chord with both the wife and I.
It REALLY hit home on the first day back in the office when the boss dumped a whole pile of cr@p on my desk, didn't ask "How was your holiday ?"...but instead said "Right, now you're back - get on with all of this, I need it ASAP." The time sacrifice has now become not worth it, and therefore I am putting steps in place to exit stage left.
Looking back through the years, the time away from family tending the properties and negative cashflow sacrifice has definitely been worth it, otherwise I now wouldn't have an option and would have to put up with this thumb on my forehead garbage for the next 27 years until when most normal people get to retire.
I've been the passenger in the back cabin of my life jouney's plane for my whole life. Two years ago I managed to make it into the cockpit of my plane, kicking the Bank Manager back into the cabin and am currently positioned as co-pilot. It's still not enough.
My boss still sits in the pilot's chair and drives my life wherever he wants whenever he wants. I am going to take great satisfaction elbowing him out of the pilot's chair, and finally take control of my life for the first time.
When that time comes....give it 6 months....I will finally be able to say that the sacrifice has been all worth it. Right now though, it's tough wading through this horse****.
Having now achieved that growth, and having just spent a fantastic time on holidays with my family, the first in a very long while.....I've come to the conclusion that the time sacrificed sitting here in this deadpan office for 40 hours a week is simply not worth it.
Meeting people on the cruise ship with less than 2% of what we have, who were happily retired and living their life to the hilt answerable to no-one....that really struck a chord with both the wife and I.
It REALLY hit home on the first day back in the office when the boss dumped a whole pile of cr@p on my desk, didn't ask "How was your holiday ?"...but instead said "Right, now you're back - get on with all of this, I need it ASAP." The time sacrifice has now become not worth it, and therefore I am putting steps in place to exit stage left.
Looking back through the years, the time away from family tending the properties and negative cashflow sacrifice has definitely been worth it, otherwise I now wouldn't have an option and would have to put up with this thumb on my forehead garbage for the next 27 years until when most normal people get to retire.
I've been the passenger in the back cabin of my life jouney's plane for my whole life. Two years ago I managed to make it into the cockpit of my plane, kicking the Bank Manager back into the cabin and am currently positioned as co-pilot. It's still not enough.
My boss still sits in the pilot's chair and drives my life wherever he wants whenever he wants. I am going to take great satisfaction elbowing him out of the pilot's chair, and finally take control of my life for the first time.
When that time comes....give it 6 months....I will finally be able to say that the sacrifice has been all worth it. Right now though, it's tough wading through this horse****.
Steady as it goes pilot Daz, now you have to prove that you can land the plane and not on the pile of horse****.
Seriously, though congratulations on your achievements and being a real encouragement on SS.
Steady as it goes pilot Daz, now you have to prove that you can land the plane and not on the pile of horse****.
Hopefully this type of plane keeps heading up....I think in the analogy, if it lands that's the end of the road....grim reaper time.
Thanks matey !! It's good fun chatting away.
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