How Much Do You Really Need?

[rbscebu]

To quote @FarmerTan:

Everyone, EVERYONE, has a personal threshold for inflicting financial pain upon themselves.

I'm now much closer to death than I am to running a Marathon, so perspective changes. I could (barely) afford to pay $50,000 USD for a pickup truck. My neighbor gave me one that would be worth more than that ADJUSTED FOR INFLATION. It's perfect for what I need, after I paid for repairs.

With age comes (hopefully) wisdom, based on perspective. If I outlive certain family members I will NEVER want financially. I doubt I'll spend any differently than I do now.

I need to be reminded daily that I need to be storing up riches where they COUNT for something, and let me tell ya, that bank ain't on planet earth!

I am arranging my affairs so that my lone heir will have a nice bit o' pocket change when I'm on the other side of the sod. I just hope I die soon enough that he will benefit from it. Or I have enough wisdom to know how much to gift him while I'm living so that I can enjoy it as much as he.

My trust was set up so that he'd get payouts ever so often until he was 35. I wasn't too bright until then, so I assumed he would not be either. I was wrong; he'll be ready by 30 years old.

It does no one a favor to give him a fish, but a fishing pole is always appropriate.

But I believe any idiot should learn how to dig worms and bait a hook, or starve! Even my own son. That's harsh, but that's life. As Lazarus Long once said, "keep your kids short on cash and long on hugs." (Or something like that!)

I am financially well off enough now to keep myself in my current lifestyle until I am 105yo (allowing for 5% inflation). That is without any further work and my investments producing no further returns. I doubt if I'll see 90yo. I am over weight, drink and ride motorcycles. I have no family to be concerned about, other than my spend-thrift siblings. I still work because I enjoy my work, but I don't "need to".

What do I do now? I enjoy my life but I have no great need for any more material possessions to make me "feel good".

 

[EclipseRedRing]

I spent many wasted years drinking heavily and not knowing what I wanted from life, like there was something missing but I did not know what it was. Then I met my wife, a Filipino from Bagabag in Luzon not far from you. She happened to be nursing my Mother in a care home here in the UK. From that point I knew I wanted to spend the rest of my life trying to make her happy and in so doing I have found a love and contentment like never before. We plan to retire to Philippines in three years but I don't care what we do as long as we do it together. I had given up on finding happiness and then it found me by chance. I am not a financially wealthy man by any means, but there is not a richer man than me in terms of blessings and I am grateful for it every single day. I guess each of needs to find that 'one thing' that will bring us satisfaction and it is different for us all.

 

[Lightcs1776]

I am quite content with my material possessions. I have far more than I need, though not rich by American standards. Need is largely determined by one's perception. I could live on half my salary and downside my home. I would still have my wife of almost 30 years, four amazing kids, and the basics of life. There are things I want (and that list grows as I browse the SR section of B&B), but nothing I need.

Sent from my SM-G960U using Tapatalk

 

[musicman1951]

I find "need" an ugly and possibly ridiculous word. I'd say I need food and shelter, but there are, unfortunately, too many homeless people proving me wrong every day.

I need almost nothing. Food. I purchase things because they bring me some enjoyment (beer, new brush, a car every ten years - even though there is only 75,000 miles on the old car, etc.).

I don't feel at all guilty about affording myself these pleasures. I worked hard, saved lots of money and can't bring myself to spend even half of what I've saved. My children don't need all the fruits of my labors.

So I need almost nothing, but will still purchase anything that's been on my list for a number of months and that I believe will bring me some joy. And I will celebrate that joy.

 

[never-stop-learning]

The only things I "need" are my Faith, my Bride (almost 35 years), my Family, water, food and shelter.

Everything else is just to spoil myself a bit and have some fun.

 

[FarmerTan]

To quote @FarmerTan:


I am financially well off enough now to keep myself in my current lifestyle until I am 105yo (allowing for 5% inflation). That is without any further work and my investments producing no further returns. I doubt if I'll see 90yo. I am over weight, drink and ride motorcycles. I have no family to be concerned about, other than my spend-thrift siblings. I still work because I enjoy my work, but I don't "need to".

What do I do now? I enjoy my life but I have no great need for any more material possessions to make me "feel good".

You sir are where I am: we "have it made in the shade."

 

[FarmerTan]

I worked with homeless people. If you have a full belly, a warm, dry place to lay your head, and One Friend....you are richer than you deserve.

 

[SharpieB]

If I only bought what I needed vs. what I wanted and invested the difference, I’d be rolling in cash.

You need to live your life and we all like nice things, but it can get out of hand. I never live beyond my means, but do I really NEED more than a couple shaving brushes, shaving soaps, pairs of high end shoes/boots, guitars, knives and watches? Prolly not.

“Stuff” isn’t really that important in the the grand scheme of things.

 

[Ron R]

There are many distractions in life to veer a person in the wrong direction possibly but from my experience if you have your health you are doing well and if you have a little jingle in the bank or other assets that are easily disposed when needed that is just a bonus through the eyes of this traveller on his path of life. If you have family and they can stay healthy that is a blessing because there is always someone who wants what you have regardless how much they have accumulated it does seem from the journals of history. Take care fellows and live long and possibly help a friend or citizen in these times. My dad always said there are good times and bad times in life and we are seeing something negative of lately so hopefully there is light at the end of the tunnel for us to enjoy.

 

[Tomo]

I’ve started from scratch a few times in life. The only things I need to get going again are my mind, body, health and family. Everything else is replaceable. A little adversity is good for you. You get less worried about loosing things when you learn that you can always get them back again.

 

[FarmerTan]

I’ve started from scratch a few times in life. The only things I need to get going again are my mind, body, health and family. Everything else is replaceable. A little adversity is good for you. You get less worried about loosing things when you learn that you can always get them back again.

Truly, that which don't kill ya makes ya stronger.

Lol, EVENTUALLY.

 

[global_dev]

you are richer than you deserve.

I kind of agreed until the last part made me hesitate. today i was talking to my kids about economics and it led us to discuss objectivism and its pros/cons and some other stuff.

i think i don’t understand maybe because of some construct that isnt a common shared one . Its really a fascinating conversation though, i’m sure difficult to discuss though.

 

[TexOkie Shaver]

I have a roof over my head, food on the table, clothes on my back, running water, electricity and natural gas. None of us needs more than that, and many make do with less.

I am indeed greatly blessed by the Great Creator of the Universe.

 

[never-stop-learning]

Truly, that which don't kill ya makes ya stronger.

Lol, EVENTUALLY.

Rather Nietzsche-esque of you.

 

[FarmerTan]

Rather Nietzsche-esque of you.

I sure hope you covered that sneeze in yer elbow my friend!

 

[Earcutter]

I’ll be for want for the rest of my life.

 

[rbscebu]

So far in the Philippines I have sponsored five poor students through high school and two of those through college/university. I currently have another two I sponsor in high school.

I guess that they are like my "children".

 

[Doc4]

Truly, that which don't kill ya makes ya stronger.

Lol, EVENTUALLY.

Rather Nietzsche-esque of you.

Homer Simpson Needs An Operation - YouTube

whatever doesn't make you stronger, kills you.

 

[karacha]

Food, decent health, family. That's what I really need. Almost everything else I own is some form of luxury and is not really needed. One thing I did appreciate very much before the pandemic were my summer vacations in places like this:

Ideally, I'd say, give me what I mentioned above first, a quiet place near a body of water and a good book. Done.

 

[Badgerstate36]

To quote @FarmerTan:


I am financially well off enough now to keep myself in my current lifestyle until I am 105yo (allowing for 5% inflation). That is without any further work and my investments producing no further returns. I doubt if I'll see 90yo. I am over weight, drink and ride motorcycles. I have no family to be concerned about, other than my spend-thrift siblings. I still work because I enjoy my work, but I don't "need to".

What do I do now? I enjoy my life but I have no great need for any more material possessions to make me "feel good".

If you enjoy your life and work because you enjoy your work but dont need to, youre already ahead of most people.
Me personally, Im 40 years old and am planning a career change in the next year or so. My work pays very well but I dont enjoy it and I have a spouse who makes more than enough money to support our current lifestyle and could support me for a couple years if need be.
So, my plan in the next year or 2 is to quit my job in auto manufacturing and to go to school to be a barber. I love my barber shop and the thought of that being my career and being my own boss is very appealing to me. Ive talked to my barber about it and she has been very supportive and has told me that she would help me out along the way as much as I need and that I could talk to the shop owner and come in and shadow him or her any time I wanted and then when Im done with school, I could rent a chair in the shop and Id be off to the races.
Theres a part of me that is a bit afraid of throwing away a great job but life is too short to not chase your dreams and the thought of being my own boss and having a trade that I can take with me anywhere in the world just has no real downsides, from what I can see.