Quote:
Originally Posted by RabidRat
You know, as a parent, I wouldn't blink at buying my kid a Ferrari if it meant a guarantee they'd study hard enough / stay off drugs long enough to get into post-secondary. I'd reverse-mortgage my house, downsize, and/or delay my retirement if I had to. That's an easy sacrifice.
The reason I wouldn't, is because it would really fuck up their lives. - What the hell could you even aspire to if you'd already had the best? What's the point anymore? There's just nothing to work towards. It's like starting an RPG at Lvl 99. It's fun for all of 15 minutes and then it's like "what are we doing here?".
- What's after the Ferrari? That's the end game. It's all downhill from there. How could you derive ay happiness from driving any other car after owning something like that?
- Makes them weak. If we've learned anything from Dragonball Z, it's that you only get stronger by getting your ass kicked through hardship.
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It’s like anything like that.. you’re never at a point where you feel like you made a huge jump.
I owned an investment condo in Whalley in 2008, there was a time I considered living in it, spent ample time there renovating and touching up between tenants etc.
I then lived by Lougheed mall in Burnaby, an obvious step up, nice 1000 sq ft 2 bed unit albeit 30 years old, was great I enjoyed it.
Now have a detached in Vancouver, love it, put like 200-300k of sweat equity into it on top of all the actual money, and the headaches of having a detached home, etc.
If you have a place to live, like the difference between some condo and a 5 million dollar home isn’t what you think in your head.
If I went from my current place to a 5-6 million dollar home, I wouldn’t be 5x as happy as I am now.
I see this a lot on IG with like these lifestyles of the rich skiiing in St.Moritz and driving lambos and Ferraris and having cocktail hour at the LV store etc.
I’m like, if you went from your average life going to crystal lodge in whistler to st.moritz in this high society soirée drinking champagne and eating caviar slope side, you’d realize pretty quick that the amount of net worth needed to have this slight change in lifestyle is hardly worth this perceived “upgrade” it just becomes the new norm.
I also don’t know a single “wealthy” person (20+ million dollar net worth) who isn’t a workaholic to the point of being a detriment to relationships and family.
If you make 60k or 600k I think it’s about living within your means and using your time and money effectively. TBH BIC, I think you’ve already got a leg up on most people to some degree, you’re just focusing your energy and time in the wrong places.