Why are you doing this?

[moyjos]

To be perfectly honest???

Because I am lazy .

Ex and I bought- Reno-sold because we were too lazy to work longer hours at our jobs. (cause Reno-ing is not work in your 20's ). That made us almost debt free when the $$&@ decided to leave.

I bought my first business because (retail in the same as my "job") because I didn't want to work Thursday nights and weekends anymore. From day one I paid myself the same management wage that I had always earned. After that, the new husband did the same. (started a business the same as his job, took 18 months until he was earning "wages" )

Fast forward more years than I would like to admit and we live a reasonably frugal life day to day, but I travel OS once a year or so, travel in aus at least once a year drive a nice car and generally enjoy life.

According to my calculations, (and seeing my parents live the same) we should be able to have a similar life in old age.

PS. We both now work approx 25-30 hours a week. Some weeks more, some weeks less..

 

[Angel]

To be perfectly honest???

Because I am lazy .

I bought my first business because (retail in the same as my "job") because I didn't want to work Thursday nights and weekends anymore. From day one I paid myself the same management wage that I had always earned. After that, the new husband did the same. (started a business the same as his job, took 18 months until he was earning "wages" )

PS. We both now work approx 25-30 hours a week. Some weeks more, some weeks less..

Love it!
I havent "worked" more than 25 hours a week since I was 21, but i think we work harder now in our fifties than we ever did in our 20s. We had a lowset house in those days.

 

[moyjos]

See Angel...Up a ladder ?? NOPE!!! Well I rarely ever did but hubby is now not great with heights after a slip off a three storey roof about 15 years ago (thank god for harnesses and his good catching arm that grabbed a roofing nail and stopped him with his legs dangling over the gutter)

Highset jobs are now quoted MUCH higher (subbies do them )

 

[Angel]

his good catching arm that grabbed a roofing nail and stopped him with his legs dangling over the gutter

Hmm, grabbed a roofing nail? I'm picturing Jesus, heights and nails. Oouch

I just finished the project a few hours ago. The lattice is now hot ginger, the soffit is pearl ash left over from Mum's house last year and the pink guttering is now very dark charcoal grey which blends in with the blue roof. It has taken us since April to repaint the entire exterior. I think Hubby did two days work and I did the other 80%. He did the worst bits, I had an incident last week that left me shaking uncontrollably for the rest of the day until he got home. Those photos are too big to attach here.

 

[INXS]

Great thread. Personally we (wife and 2 kids) have not given up anything to invest in property. We deliberately only invest when it will not have any impact on the family budget and lifestyle. In fact the opposite applies, investing in property has given us the opportunity to live in a PPOR that we could not of dreamed of if we just relied on our wages.

 

[VYBerlinaV8]

I started because I want to get to a point where I work when I want to, doing what I like. I also want to take time off working to go traveling and do community and charity work.

I also like having the freedom to buy a new car when I feel like it, or take an overseas holiday with my family when I feel like it. This year we bought and renovated a $1M+ property because we felt like living somewhere nicer.

It's all about the balance, and now that we have been at this for nearly 10 yearts, the balance is starting to favour lifestyle options, but not at the expense of our financial future.

 

[moyjos]

Hmm, grabbed a roofing nail? I'm picturing Jesus, heights and nails. Oouch
.

EXACTLY That...he slammed his hand into a nail on the way down. Put a mighty rip in his hand and was very lucky he didn't do any damage. (It was his drinking hand too)

 

[Africandaisy]

I have family living in and having a go supporting small business of locals in Uganda. I have friends doing some amazing youth work in Spain. I have relationships with people in smallish communities in regional Australia with some amazing grass roots work being done with Aboriginal communities and friends volunteering in Juvenile detention centres. I am meeting with a group of professional and other men in my community to see how we can tackle violence and non engaged fathers in our own town.

The work already being done is having impact on lives. The scope for expansion is EXPONENTIAL. I want to fuel that. That costs money. Its an investment I am prepared to make.

That is my why.

Wow! You, your family & friends sound like truly wonderful altruistic people. I wish you all the very best with your investing and philanthropic ventures.

 

[CHAOS]

I would love to travel through beautiful and inspiring places. Feel the awe and happy feelings inside. Always better when you can share it with someone.

When we travel I would also like us to be able to eat dinner at a restaurant without cringing at how much it costs? I have memories of ordering chicken in Venice - the lowest priced meal on the menu $12 and that is all that I got - half a chicken on a plate. I want to be able to order the sides as well.

The plan is that investing in property will help me fund this.

 

[Risky Business]

Reasons

Pride. I still remember a kid in the neighbourhood telling me that his parents had said that my family lived in poverty. My kids won't hear the same.

Previous work colleagues.
I was lucky enough to be a young fella working with alot of older blokes. I often used to listen to what they whinged about. I would ask what they wish they would have done differently in hindsight and learnt from that. Having enough money, and not having to work were big on the list.

Enjoyment.
I enjoy negotiating a purchase. I could do it all day. I often ask my friends if I can do the offering for them.

Greed
When I'm a bit older, I don't want to work as hard as others, and I want some better play toys.

That's why I invest my time and stress.

 

[knightm]

Wow! You, your family & friends sound like truly wonderful altruistic people. I wish you all the very best with your investing and philanthropic ventures.

Dont worry there is plenty in it for me too I also want to provide a better lifestyle for myself and family, have freedom from day job, do some travelling etc etc.

BUT while I was at setting goals the ones above didnt seem big enough. So I thought, "what would I really do/want if I could do anything with this???" If the biggest reason for investing becomes something more than me then I have a bigger purpose and a stronger passion.

dream a little.

Its one of the principles in many of the best books on wealth building. try it and see where it takes you.

I dare you

 

[HomePage]

Why? Because I don't want to rely on anyone else to support me or my family in our sunset years.

Sacrifices? Nothing really. I lead a fairly minimalist life by principle, not necessity, and as I've moved up the food chain at work I have an increasing level of spare income to invest.

 

[kathryn d]

Freedom.I didn't want to rely on a government pension.

Didn't start investing until my early 40s.
We did have the foundation set, as the PPOR was paid for, and a small savings account.

After buying well, working hard we were able to live off rent completely after 6 years.

Now we travel 8 months of year in Australia (curently in Maryborough, Qld) and spenf the summer in Canada and look after our properties, while giving our employees a summer break.

We live very simply, but we do it on our terms.

 

[Of The Vultures]

Wow, some really inspiring answers! I too have some altruistic motives for why I want financial freedom. I'm not naturally a "people" person but I still want to help others in my own way, that is to say a financial way. I can contribute a lot more as a wealthy person than as a poor one!

Aside from that I very much resent having to ask somebody else for permission to get time to do what I want. It is MY time and I want to own it. I guess in my opening post I didn't say what I am sacrificing to get there. Some of your answers have prompted me to re-think my approach a little. I started off with an "at all costs" mindset but there's no balance in that. So I will continue to save as much as I can, drive an old car and wear out my clothes but I won't forgo everything. Travel is important, so I'll just have to do it on the cheap!

Hellloooo... budget tent

 

[Andrew_A]

It's easier to do that work at a job you don't like, spend everything you earn each week on keeping up your lifestyle and then dread Sunday afternoons because Monday is around the corner!

 

[matto_]

this investing malarky requires you to sacrifice a multitude of things (hopefully not sanity).

So having a good WHY - allows you continue on the path and fight the good fight.

My reasons - are very similar to what others have posted.

 

[Brady]

I'm 24 years old. Just signed contract on my 2nd property in the last 6months.
I plan to continue to buy as many properties as I can before im married ~2-3years if not before so the girlfriend tells me.

I want to be financially secure.

I dont want to have to work until im 55-67.

Overall I believe the time put into property investing is better then the time put in a normal career as I believe I can create more wealth through property investing over my lifetime which then can be passed onto my family.

 

[kathryn d]

Wow, some really inspiring answers! I too have some altruistic motives for why I want financial freedom. I'm not naturally a "people" person but I still want to help others in my own way, that is to say a financial way. I can contribute a lot more as a wealthy person than as a poor one!

Aside from that I very much resent having to ask somebody else for permission to get time to do what I want. It is MY time and I want to own it. I guess in my opening post I didn't say what I am sacrificing to get there. Some of your answers have prompted me to re-think my approach a little. I started off with an "at all costs" mindset but there's no balance in that. So I will continue to save as much as I can, drive an old car and wear out my clothes but I won't forgo everything. Travel is important, so I'll just have to do it on the cheap!

Hellloooo... budget tent

Housesitting is a great way to have a cheap vacation.
We have done lots, and it is very enjoyable.
Some housesitting sites are free and others can be very inexpensive to join ($69 a year)

 

[kum yin lau]

Very good, Brady!

When you try, you get a result. Sometimes, the result is not a good result so then you do something to change it into a good result. You are DOING something.

A distant relative said to me that I had more problems because I had more. That's her reason for not investing.

My reply is: I can guarantee that you have a result. The result is zero. Because you're not doing anything.

But try telling things to the wall! I try not to say anything to people who don't want to hear.

KY

 

[lizzie]

We invest so that we can continue our current lifestyle into retirement.

We're not extravagent so that helps - although do like to shout ourselves when we feel like it, like having a coffee and cake at a new cafe each weekend.

I can picture us being very like KathrynD - based in a simple house somehwere and then housesitting our way around the world - but - when the dog needs a $1,000 operation for swallowing a fish hook, or the dishwasher needs fixing, or I want to nip overseas to visit family, or shout ourselves hot air ballooning for a birthday, or splurge on a carload of plants, or stock up with dozens of dozens during the wine sales etc I don't want to have to scrimp, do without or wait for the next bill-less pension day in my old age.