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  1. #1
    Join Date
    Jan 2010
    Location
    Auckland
    Posts
    589

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

    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

  2. #2

    Default

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

  3. #3
    Join Date
    Feb 2004
    Location
    Wellington
    Posts
    2,776

    Default

    make other peoples money work for you

    cheers
    spaceman
    Delightfully in need of some Tender Loving Care
    Blessed are those who can give without remembering and take without forgetting
    Some things are not as they seem, nor are they otherwise

  4. #4
    Join Date
    Apr 2011
    Posts
    151

    Default

    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.

  5. #5
    Join Date
    May 2007
    Location
    Chch
    Posts
    773

    Default

    Forget the 'job' bit?

  6. #6
    Join Date
    May 2008
    Posts
    3,533

    Default

    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.

  7. #7
    Join Date
    May 2006
    Location
    Mordor
    Posts
    1,048

    Default

    Quote Originally Posted by ENP View Post

    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.

  8. #8
    Join Date
    Sep 2007
    Location
    Christchurch
    Posts
    1,259

    Default

    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.

  9. #9
    Join Date
    Sep 2008
    Posts
    7,558

    Default

    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
    have you defeated them?
    your demons

  10. #10
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,859

    Default

    Quote Originally Posted by ENP View Post
    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.


 

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