Why do you do it?

B

bolo

I was just reading through the pennyk threads, a sad end and an inspiring story.

It left me thinking, why do we choose to spend the amount of time that we do on some of the things we do.

Property investing for one can take up a lot of time that could be otherwise spent with family and friends but then again it's a means to an end where ultimately you should have more time for that kind of thing.

So it begs the question, why do you invest in property?

What's your deep down reason?
 
So I don't have to live on a shoestring like I have for more than half of my life, and so I can do things with my family that most others don't/won't get to.
 
Many reasons, but one most important one: I want to have more time to spend with important people in my life, especially my partner.

Also want to be able to visit my friends and family anytime and anywhere. All of them are busy and are not usually flexible with time, so if I have more time and money, I can cater to their schedule and place.

All the above won't happen if I keep doing what I'm doing (work and save only). Per calculation, I will need work until 60 and then run out of retirement money when I'm 80.
 
I read this with interest,and asked myself the question.Why do i do it???

I watched my parents raise 3 kids on a shoestring budget,Dad worked,Mum stayed home which was normal,we had the normal average Aussie upbringing,but i always thought Dad worked so hard for what he & Mum had.I read somewhere early in life"The next generation should live better than the last",this has always stuck with me.Thought for today.
 
You only live once. I'd rather spend less of this precious time working and more of it seeing my family and the rest of the world and hopefully making some small differences along the way :)
 
To be comfortable in life and do what I want where I want. I don't have big desires, happy to be a (not so grey) nomad travelling Australia in our caravan much like what Kathryn is doing.

But... When we originally got into property investing we went hard, saving every single cent and we did 3 big renovations ourselves in the space of 18 months - we'd get home from work, work till midnight on the house and then do full weekends. It was hard but I enjoyed it, my husband not so much.

Then not long after the third Reno someone extremely close to me was diagnosed with cancer and was gone 41 days later. Apart from that person leaving a big hole in my life, all I can think now is that could be me. I'm doing all this delayed gratification but what if that day never comes?

So last year we went a bit silly with our money. Bought things we wanted and went places we wanted to go. During that time we built up no further savings apart from a measly buffer.

This current year we're knuckeling down again as I don't want to stagnate through life. We're just not going about it as hardcore as we did last time but still pretty frugal.
 
I have done a lot of reflecting on this subject. I came close to dying on Mothers Day 4 years ago aged 35/36.
These are the reasons I invest in property:

- I enjoy it. At times when I haven't enjoyed it I've take a break. I don't push myself too hard. I don't bother to invest/do things I don't enjoy. I'm not a hardcore investor

- if something happened to myself or partner we could still have a good lifestyle without struggling too much

- my husband works in a fairly dangerous industry (construction). He and workmates have had some near misses. Seeing constuction workplace deaths on the news rattles me and I look forward to him retiring

- I can work when I want, have all school holidays off. All I ever wanted in life was to have a family. I love being able to spend heaps of time with the kids. We do lots of fun stuff and travelling with Australia as a family. We paid off first mortgage in early twenties to ensure this

- hopefully my hubby can retire at 50. We're halfway there

- again, not being a hardcore investor I have invested in some properties for lifestyle. I can relocate easily without being priced out of relocating to an area I may want to live in the future

- I lost two friends a year ago who were 45 and 50. I try to enjoy my life and do stuff I enjoy. After my illness I made a firm decision to move interstate and spend more time with my parents, sisters, nephews and cousins. It was an expensive decision and put investing on hold but I couldn't put a price on that experience. I'm so glad I did it. The near death experience has taught me to listen to myself and live for today. I'm grateful for it and every mothers day I celebrate how lucky I am to be living my dream of being a mum with a beautiful family and celebrate being alive.


-
 
Because I can - I believe we should all use our god (or deity of your choice) given talents to be the best we can be and do the best we can do and this includes investing and setting ourselves up for a future that is not dependent on paid work or handouts.

Because others can't - I am fortunate to have been born in and a citizen of this country. Many throughout the world struggle to subsist let alone turn their thoughts and energies to investing. I am fortunate in that I don't have to worry about war, famine, disease and do have the luxury to turn my attentions to investing, it would be a crime not to.

Also, I enjoy it. I see it as a giant game.
 
charttv said:
Because I can - I believe we should all use our god (or deity of your choice) given talents to be the best we can be and do the best we can do and this includes investing and setting ourselves up for a future that is not dependent on paid work or handouts.

Because others can't - I am fortunate to have been born in and a citizen of this country. Many throughout the world struggle to subsist let alone turn their thoughts and energies to investing. I am fortunate in that I don't have to worry about war, famine, disease and do have the luxury to turn my attentions to investing, it would be a crime not to.

Also, I enjoy it. I see it as a giant game.
Click to expand...

I pretty much agree with everything in this post 100%.
 
bolo said:
I was just reading through the pennyk threads, a sad end and an inspiring story.
Click to expand...

She was a battler, a strong willed woman with a huge heart.

It was a scant two years from diagnosis to death. She fought her illness tenaciously. By Feb 2012, it had spread to her lymph nodes and elsewhere. Although she must have been in a lot of pain, it didn't stop her from posting on this forum. Never complaining, always positive, encouraging and kind.

A sad loss indeed.

bolo said:
So it begs the question, why do you invest in property?
Click to expand...

1. Because the sort of property I buy is the cheapest in its asset class. If it were expensive, I would not bother.

2. Because, on a rare few occasions, I was able to help out a few decent tenants who would otherwise be homeless.

3. Because property is a lot more forgiving than the share market if things go sour.
 
Wow. What a great thread. So e very thought provoking messages.

For me, the main reason is because I've always loved houses. Wanted to do architecture at uni, but got talked into doing commerce. Maybe a good thing, as now I can work the numbers. I can't imagine a time when I won't work (ie 'retired') but I'd really like to reduce my reliance on being employed by someone else. Give me and my partner choices in what we do. Freedom to pursue what we think is important.

And finally, to be a good role model for my son. To show him (I) the benefits of delayed gratification; and (ii) if you have a passion, persevere, and eventually you will get it right.
 
Kesse said:
To be comfortable in life and do what I want where I want. I don't have big desires, happy to be a (not so grey) nomad travelling Australia in our caravan much like what Kathryn is doing.
Click to expand...
Not grey nomad, those are those old annoying people doing 75km/h

we are Opals

Older
Person
Alternate
Lifestyle
 
I couldn't agree more with everyone.

More time and a future that you control is the ultimate goal. and without more money that's hard to impossible to achieve. Especially with a family.

This poses another question:

Property is really a long term play, no matter which way you look at it it's rare to see immediate results.

So once you start investing in property, which of course takes up more of your time and in the early days more of your money, how long do you give it before you expect to have more time and a secure future?

Does anyone have a plan for this or a specific goal?
 
bolo said:
So once you start investing in property, which of course takes up more of your time and in the early days more of your money, how long do you give it before you expect to have more time and a secure future?
Click to expand...
seven years
which occurred 2 years ago
 
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