Getting Caught in the Middle Aged + Nice Home + Car + Job TRAP

[ENP]

I see the lives of my parents, mum is early 50's and my dad mid 50's in age.

They have both been working since they left school 30+ years ago. Dad has a decent high paying job and mum works 4 days a week.

3 kids (including me) have all left home now and two have finished university. Sure they have a really nice $800k plus home in Auckland's North Shore (has roughly a $150k mortgage still left on it) , both have nice cars in the $5-10k range. Dad has been working in the same company for 35+ years so has a company pension of $500k plus.

They live comfortable lives, if you were most of New Zealand you would think their life it great. However, I've seen how hard they both work in their jobs and also around the house. I also have a good work ethic and want to achieve many things in my life.

But I just don't want to get caught in that same trap of living a comfortable life. I want to have a bit more money and income coming in other than my job so I don't have to work all the way till I'm 60-65 like my parents are going to.

This may sound like I'm whining a little bit, because I am better off that a lot of people, but after 35 more years of working, saving, investing, etc, is this what I have to look forward to?

How do I not get myself into that trap? What are some golden rules to make sure I'm not stuck in that same position.

Thanks,

ENP

[speights boy]

Stay single, or at least no kids and work overseas.

[spaceman]

make other peoples money work for you

cheers
spaceman

[Neongreen]

I know this is probably a bit cliche'd, but read: Rich Dad, Poor Dad by Robert Kiyosaki. I'm sure you'll find it enlightening.

[ream]

Forget the 'job' bit?

[Bob Kane]

Don't get a job/career!
A career locks you into working to earn money.
You want assets to earn you money.
Somehow earn enough money to buy those assets.
Hint: use leverage to buy assets.

[Winston001]

But I just don't want to get caught in that same trap of living a comfortable life. .

This may sound like I'm whining a little bit, because I am better off that a lot of people, but after 35 more years of working, saving, investing, etc, is this what I have to look forward to?

You say that like its a bad thing?!! Hundreds of millions of people strive for exactly this.

What you don't percieve is that the effort itself is a reward. A safe comfortable life providing for your children is absolutely core to human needs. You can't eat money. You bank manager won't visit you at Christmas or provide you with grandchildren. You won't look in the mirror at 80yrs and congratulate yourself on being a rich man.

If you really want to eschew the "middleclass dream" go and spend time with the likes of Sam Hunt - people whose values include sunsets, flowers, birdsong etc. They may be poor in assets but they are rich in life. Become a hippie. Whatever you choose - the key is to be fulfilled.

[One]

Focus on finding something you love doing.

Definitely don't spend your days doing something you hate just to make enough money to quit, whether at 45 or 65. Otherwise you'll find your life's what happened while you were waiting to start it.

[eri]

if you don't want to do that

don't

do what you like

if you're any good

you'll end up with pretty much that anyway

[Bluekiwi]

I see the lives of my parents, mum is early 50's and my dad mid 50's in age.

They have both been working since they left school 30+ years ago. Dad has a decent high paying job and mum works 4 days a week.

3 kids (including me) have all left home now and two have finished university. Sure they have a really nice $800k plus home in Auckland's North Shore (has roughly a $150k mortgage still left on it) , both have nice cars in the $5-10k range. Dad has been working in the same company for 35+ years so has a company pension of $500k plus.

They live comfortable lives, if you were most of New Zealand you would think their life it great. However, I've seen how hard they both work in their jobs and also around the house. I also have a good work ethic and want to achieve many things in my life.

But I just don't want to get caught in that same trap of living a comfortable life. I want to have a bit more money and income coming in other than my job so I don't have to work all the way till I'm 60-65 like my parents are going to.

This may sound like I'm whining a little bit, because I am better off that a lot of people, but after 35 more years of working, saving, investing, etc, is this what I have to look forward to?

How do I not get myself into that trap? What are some golden rules to make sure I'm not stuck in that same position.

Thanks,

ENP

Trap ?

Sounds like heaven, puts them - and you - in the top 99.9% of well off people in the world.

Have you asked them if they are happy ?
Its what you make of what you got I guess.

You do know you cant take your money with you when you die dont you ENP, and that the journey is often more important than the detination.

Remembering your earlier posts perhaps you should be looking for them to finance you into a PPOR, get some flat mates in, reno it.
Then revalue it in 6 months, and you will have an 80k property investing R/C to get your empire underway with.

They might not understand property empires but they will understand you getting your first home.
The best time to buy in the next 10 years was probably the last 5 months and the next 1.

[Bluekiwi]

Don't get a job/career!
A career locks you into working to earn money.
You want assets to earn you money.
Somehow earn enough money to buy those assets.
Hint: use leverage to buy assets.

You will have to tell us your story sometime Bob, are you in Auckland ?

[TheLiberalLeft]

Simple. Travel. I don't mean to the US or UK. Travel to the real India or Africa. Then come back and post the same whoa-is-me message.

[Bluekiwi]

Simple. Travel. I don't mean to the US or UK. Travel to the real India or Africa. Then come back and post the same whoa-is-me message.

LOL, actually Tonga is good enough, my wife is from there.

[Tan]

I suspect you feel differently when you are married. For the few years I was married I was a totally different person (read 'settled'), and happy to be that person. Before & after I have all these feelings that you are describing, and the freedom to follow it.

I'm not advocating one over the other, just saying you could be very happy either way.

I have several friends who are married with kids who every now & then say they envy the freedom (or peace or free time) of my life-style, but looking at it realistically, they are very happy to go home to their partner & kids, job & home and are just having an off moment, as the rest of us do sometimes too.

[drelly]

I think your youth is colouring your perspective. Your parents sound like they're doing really well. The concept of making enough money so you can do nothing is a fantasy that many get sucked into and it makes them unhappy. The reality is that if an individual is driven enough to actually do that, they probably enjoy what they do and not want to stop. Life is a journey, not a destination.