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How Much Wealth Is "enough" For You

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http://www.fool.com/investing/general/2011/03/04/when-rich-people-do-stupid-things.aspx

I know I am happy renting and looking around for a nice house at my leisure. I enjoy my family and share what I have with them. I have enough to feed and shelter me. That's enough for me.

Well my happiness comes from looking out of the kitchen window every morning during the winter months with a mug of hot strong tea and watching all the workers off for another day of slave labour thankful I got out of it before the live to work became the new way of life. Spring is coming and I am awaiting the boating season to start. Investments ( cash )over 40 years, mortgage free for 31 years have ensured that I am financial secure for the rest of my life, no more investment needed, just the worry of spending it before I go. Sadly I have been forced as a favour to work 2 days this week, the reward a £1k fee, I would rather have my afternoon siesta. :)

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Enough to not have to worry/think about paying the bills & being able to enjoy new experiences. Would love to retire before 55 (not sure that will be possible). We're very bad consumers - no labels or conspicuous consumerism in this house.

Enough so we could buy a larger house with a great garden for our two gorgeous girls before they hit puberty, but that is still a bit too far out of reach.....................

Our needs will hopefully be less in 6-12 months time ;)

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Have wondered - are HPCers generally of a similar mindset? Is that why we're here? Are we the 1%ers who see the madness while the other 99% just shrug their shoulders and get on with playing the game? (i.e. sheeple)

Are we perpetually destined to be disappointed?

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I'd like one of those fancy George Clooney coffee making machines, oh and a house to put it in wouldn't go amiss. Nothing too big, I can't be bothered with the maintainence. But reasonably sized; detached so I could have a vegetable plot at least.

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Well my happiness comes from looking out of the kitchen window every morning during the winter months with a mug of hot strong tea and watching all the workers off for another day of slave labour thankful I got out of it before the live to work became the new way of life. Spring is coming and I am awaiting the boating season to start. Investments ( cash )over 40 years, mortgage free for 31 years have ensured that I am financial secure for the rest of my life, no more investment needed, just the worry of spending it before I go. Sadly I have been forced as a favour to work 2 days this week, the reward a £1k fee, I would rather have my afternoon siesta. :)

Are you a baby boomer, per chance?

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I'd be happy if I found an affordable house worthy of a mortgage and happier still if they raised interest rates. In fact I'd be happy if decent hard working people of society were rewarded and reckless toerags who borrowed too much got what they deserved.

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Are you a baby boomer, per chance?

According to those who label the Generations I am of the Silent Generation born during the War years, and no my house is not my pension but will eventually be handed down to a generation X. Started earning money at 10 years of age collecting bags of coke from the local gas works for the neighbours at threepence per delivery. ;) Great days in the 1950s. :)

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According to those who label the Generations I am of the Silent Generation born during the War years, and no my house is not my pension but will eventually be handed down to a generation X. Started earning money at 10 years of age collecting bags of coke from the local gas works for the neighbours at threepence per delivery. ;) Great days in the 1950s. :)

Thanks for the honest answer.

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Started earning money at 10 years of age collecting bags of coke from the local gas works for the neighbours at threepence per delivery. ;) Great days in the 1950s. :)

Luxury. We used to have to get out of the lake at six o'clock in the morning, clean the lake, eat a handful of 'ot gravel, work twenty hour day at mill for tuppence a month, come home, and Dad would thrash us to sleep with a broken bottle, if we were lucky

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Just a little more! :(

Mind you, have you ever spent money you didn't need, on something you didn't really want? :huh:

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An aesthetically pleasant house that I like living in with a nice view from my study, together with enough money never to have to worry about paying the bills, putting healthy food on the table and buying the occasional book. Oh, add to that a wodge to pay for decent medical and nursing care in my old age. Anything more than that would be cream.

Any desires I have for much more wealth than that stem from insecurity about the future, especially inflation etc. Inflation makes "enough" for the rest of one's life difficult to get a handle on. I'm 41 now. If I am lucky, I am only about halfway through my time. Look how much prices have risen since 1969..."enough" then starts to look something like £20 million. :angry:

Edited by Tiger Woods?

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1.jpg

James Dines Wealth pathway. Which stage are you at?

1. Survial; the daily struggle for food, shelter, the beginning of our lives.

2. Security; when the needs are met (secure job, passive income from investments meet daily expenses, debt free where possible).

3. Toy accumulation; Having more than we need. Buying more cars, homes, luxury items, clothing.

4. Enoughness; When we have enough. When we have more shoes than we can wear, more cars than we can drive.

5. High States; Truth, high planes of happiness, being content.

6 Wisdom; Love, sharing knowledge, truth, the highest states of knowing and awareness etc.

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1.jpg

James Dines Wealth pathway. Which stage are you at?

1. Survial; the daily struggle for food, shelter, the beginning of our lives.

2. Security; when the needs are met (secure job, passive income from investments meet daily expenses, debt free where possible).

3. Toy accumulation; Having more than we need. Buying more cars, homes, luxury items, clothing.

4. Enoughness; When we have enough. When we have more shoes than we can wear, more cars than we can drive.

5. High States; Truth, high planes of happiness, being content.

6 Wisdom; Love, sharing knowledge, truth, the highest states of knowing and awareness etc.

You forgot stage 7: X-Factor

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You forgot stage 7: X-Factor

Stage 7, 'beyond wisdom', is when you market a book filled with useless, trite, vain cliches about the nature of human life

Edited by Stars

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I suppose "enough" for me is financial independence, not having to depend on working for a living or the tragedy of a modern pension.

Don't think I'll ever get there though.

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James Dines Wealth pathway. Which stage are you at?

1. Survial; the daily struggle for food, shelter, the beginning of our lives.

2. Security; when the needs are met (secure job, passive income from investments meet daily expenses, debt free where possible).

I'm scrabbling between 1 and 2 tbh and I'm supposed to be in a good white collar profession. Not that much left at the end of the month these days especially after the government takes three huge bites out of me.

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According to those who label the Generations I am of the Silent Generation born during the War years, and no my house is not my pension but will eventually be handed down to a generation X. Started earning money at 10 years of age collecting bags of coke from the local gas works for the neighbours at threepence per delivery. ;) Great days in the 1950s. :)

Nostalgia.

I remember at about 13 years of age, during the summer holidays, I'd take me home made cart (pram wheel axle) to Weston Super Mare train station, and tout for business carrying holiday makers luggage to hotels and B & B's, after helping move the donkeys.

Times were still tough for many, far fewer cars on the road, we walked to school too (not taken ther in 4X4's)!

Not much dosh around in them days, but I'm sure they were happier times than the current 'must have, can't afford, but must have' lifestyle.

Great days too, in the early 60's. :)

bril time for music, mid 50's to mid 60's, got loads of it, and still collecting (it's not an expensive 'hobby').

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Well I of course would love a few mil , would be a nice amount. But as I am getting older, wife, mates, dog weekend at the coast , and coffee and cake.... These simple things definitely give me the most enjoyment., more than some of the nice hols we have had.

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James Dines Wealth pathway. Which stage are you at?

1. Survial; the daily struggle for food, shelter, the beginning of our lives.

2. Security; when the needs are met (secure job, passive income from investments meet daily expenses, debt free where possible).

3. Toy accumulation; Having more than we need. Buying more cars, homes, luxury items, clothing.

4. Enoughness; When we have enough. When we have more shoes than we can wear, more cars than we can drive.

5. High States; Truth, high planes of happiness, being content.

6 Wisdom; Love, sharing knowledge, truth, the highest states of knowing and awareness etc.

Most public sector careers are modelled on the above.

such a shock when one is forced to move down a level or two....Better get a budget for 50,000 new counsellors.

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House+£20k/year income, so that's only about £650k assets required at the moment..

Not much to ask for :unsure:

House + 2k a year would do, if the house was in a decent location.

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Most people equate "enough" to an amount that is just out of their reach, that would give them the things that they think they would love but can't quite have. In reality this target moves.

Other people have a different set of objectives and therefore probably already have "enough".

Unless you disengage from material acquisition then you never have enough. It just keeps moving ahead of you.

Edited by bogbrush

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Most people equate "enough" to an amount that is just out of their reach, that would give them the things that they think they would love but can't quite have. In reality this target moves.

Unless you disengage from material acquisition then you never have enough. It just keeps moving ahead of you.

Up to a point. Messrs Gates and Buffett have famously passed that point. As have members of our Royal Family who have the security to devote their time to good works. But also, huge numbers of ordinary people, like the army of fit&healthy over-60s with the security of a house and a pension, who make up the backbone of so much voluntary activity.

When I said house+£2k/year it might be just a hint of tongue-in-cheek as I enjoy a more expensive lifestyle now. But it was also remembering back to when I survived on a whole lot less than that. And to the time (2004) when my finances started to improve so I felt positively rich on £7k/year (£2k ballpark after rent).

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Spent 20 years working my nuts off in high paid high pressure jobs whilst scrimping and saving because I wished to go into academic research for the remainder of my working life and realised that that had to be essentially self-funded. Got to the point a couple of years ago where I had enough saved to do that and packed in the job to do it. But my motivation had gone after all that time so I didn't even start.

Back working soon after as it's what I'm good at and I do enjoy it, very little interest in money as I'm no longer saving for anything. I would say I have enough, mainly on the grounds that I do not desire any more.

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House+£20k/year income, so that's only about £650k assets required at the moment..

Not much to ask for :unsure:

House + 2k a year would do, if the house was in a decent location.

How would you survive on 2K per year?

I am almost in the position which cheeznbreed aspires to, I have the house and from next year could have pension payments of circa £22k per year, plus savings interest.

We're not particularly materialistic and don't waste money on rubbish, I am not convinced that the above would be enough to live, comfortably, on for the rest of our lives though.

Maybe I just can't get off the treadmill? :unsure:

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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