Money Or Happiness?

I have been following that thread. :smile: I think itā€™s the classic case of online discussions going off track. Your comment about millennials started it off I think. Obviously you agree that there are lots of them who are responsible and high achieving (e.g. Zuckerberg). I understand your point about staying with an employer for mental peace. You can always fulfill your ambition/excitement elsewhere. I have done that myself. In real estate parlance itā€™s similar to keeping the same renter even though you are not getting market price for your rental.

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To continue your own analogy. Whatā€™s the point of keeping your cake forever when you know you are going to die some day? I am suggesting that we keep eating it every once in a while. :grinning:

Thatā€™s why most people couldnā€™t get that early FIREā€¦ :rofl:

Early FIRE does not guarantee happiness. You can still worry about your renters, stocks, personal health etc. The point is that we need to sneak in a few moments of happiness even if we are going through crazy times.

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Iā€™m talking about the ability to retire early. That might or might not result in happiness, depending on the individual. However, at least for me, it resulted in lots of happiness :smile:

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Whether you have money or not, never take a helicopter ride. Itā€™s dumb risk taking for nothing.

I am glad you are happy. Some people cannot FIRE because they are too ambitious.

You can be ambitious without having to slave for a W2 paycheck. Such as dump your life savings into your favorite investment :slight_smile:

Probably the only way to FIRE is through investments. W2 alone is rare unless you are an executive or a successful founder.

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No matter whether it is W2 or Corp or 1099, as long as a person seeks income/earning other than cash or investment, they are not retired.

They may be financially independent, but not retired, actively working for income!

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I donā€™t know about you guys, but I would feel super guilty for spending any of the capital after retirement. Thatā€™s why I put the capital in housing. It just sits there and goes up over the long haul. In the meantime, I can enjoy some of the rental income as a dividend (and depreciation lessens the tax bite). When I die, that housing (capital) then passes onto my offspring. Mind games that I play with myself.

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Why leave your fortune to your offspring when you can enjoy that yourselfā€¦ your offspring can make his own money.

We are planning the same. So you are not the only one

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Purpose is to never run out of money, leaving to offspring is the side effect.

One risk is that the offspring might think that you are wasting their money when you use your own money to extend your life. Will the offspring try to unplug the tube early?

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Have to conclude all of us are Asians.

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Firstly, I feel it is my obligation to ensure that my offspring have a safety net. My responsibility is to train my offspring to work hard and live very simply - the safety net then provides a measure of stress reduction.

Secondly, I derive very little joy in spending. I much prefer to save / invest in a big safety net. I have my luxuries (a nice vintage car or two, good things to eat, etc.) but generally speaking spending is not something I enjoy.

Absolutely. Will stab you to death on your death bedā€¦ :rofl:

I know it can be satisfying to stare at that number in your bank account before falling asleep every nightā€¦ :rofl:

My view on happiness has changed a lot in the past decade.

These days, I derive no greater joy than watching my kid celebrate after scoring a goal at a game, or watching my kidā€™s face light up because they got another https://www.kiwico.com project box to assemble ā€¦ or even something as simple as watching my hungry kid greedily consume the dinner that I made.

Also - taking my kid to the pickā€™nā€™pull junkyard and having my kid be in awe of my (rudimentary) ability to pull a part off a junked car and repair my 10 year old 140K miles Toyota with it ā€” priceless.

Money is a tool that allows this to happen.

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Are you already at FIRE stage and be a full time parent?