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Great thread.
One of my professors at uni did not keep a TV. I wonder what "sacrifices" SSer have made while building wealth or reclaiming time. How much time do you spend watching TV or in Facebook/Twitter, etc or do you generally avoid them?
Great thread.
One of my professors at uni did not keep a TV. I wonder what "sacrifices" SSer have made while building wealth or reclaiming time. How much time do you spend watching TV or in Facebook/Twitter, etc or do you generally avoid them?
The main reason that I invest is that I value time highly.
I'm planning on retiring (or at least being able to retire) at 40, so that will give me an additional 42,000 hours of my life in which I can do whatever I want instead of working. And that's factoring in one hour per work day to look after investments.
My duel between time and money has flip/flopped over my life depending on the current situation. (as I think most people's do)
Most kids/teens (i am sure I was similar) value time over money (to the frustration of parents and bosses) we have all complained that the young people do nothing but "hang out". They just don't realise that they are valuing time WAAAAY over money.
By your early 20's the "money is the most important thing" kicks in and we work like little Trojans to save for houses, cars , whatever doodads the "jones's" dictate. (or IP's if we are smart )
In your 30's kids might come along...THIS is where it really gets tricky For me ..it was to buy a business so I DIDN'T have to work the 55 hours I was and so be able to at least see most of my kids "stuff". I was there for school concerts, awards afternoons etc etc etc, that would have been a much bigger struggle if I was employed full time (indeed my staff missed a few because their kids schedule conflicted with mine and I was always going first )
Now in our late 40's -50's we are back to "topping up the coffers" so to speak. Still in business, and our time still comes first. Travel is a biggie for me, so when a decent holiday deal presents itself, we are off and the staff work around us .
Overall, I think we have got the balance right, because we are both happy and healthy....., have enough ready cash to pay all the bills on time, and (hopefully) enough to keep us "comfortable" in our old age .....and have (mostly) enough time to do what we want.
Maybe Player can add a poll similar to this. I chose option 3)
"If you had a choice, what would be your ideal retirement scenario, to retire at age X with passive income of X"
1) 25 years old on $25k per annum
2) 30 years old on $30k per annum
3) 35 years old on $35k per annum
4) 40 years old on $40k per annum
5) 45 years old on $50k per annum
6) 50 years old on $60k per annum
7) 55 years old on $70k per annum
8) 60 years old on $100k per annum
9) 65 years old on $150k per annum
10) 70 years old on $200k per annum
11) 75 years old on $300k per annum
12) 80 years old on $500k per annum
13) 85 years old on $1m per annum
14) Move to another country where you can live a modest lifestyle on 12K Aus p.a.
14. would be my pick.
14) Move to another country where you can live a modest lifestyle on 12K Aus p.a.
14. would be my pick.
14) Move to another country where you can live a modest lifestyle on 12K Aus p.a.
14. would be my pick.
I also chose 14 but with a higher amount. Your amount will give you about 1,000 baht a day to live on inc accom and food so try to find an apartment for around 2,500-3,000 baht a month which is doable in the city you've chosen.
I reckon you would have a good lifestyle for that amount in India. The only problem is that you can't get margarine tthere