Why do YOU need money?

[HgaleK]

Originally Posted by Piobaire

MS has pointed out this is too simple. In fact, I often feel quite constricted and constrained to keep my cash flow going. I think people of varying SES's have different choices, maybe not more and certainly not always better.
True fact. I quit worrying about money recently. I ran the math and can live happily and comfortably at 35-40k a year as long as I don't have a family. It's mostly material, and mostly necessities a few one time expenses. The security of having a bit of cash squirreled away incase of emergency is nice too. Outside of that I gave up the idea of GQ/Esquire lifestyle, and don't need Lanvin or Dior to be happy.

 

[Piobaire]

Originally Posted by HgaleK

True fact.

I quit worrying about money recently. I ran the math and can live happily and comfortably at 35-40k a year as long as I don't have a family. It's mostly material, and mostly necessities a few one time expenses. The security of having a bit of cash squirreled away incase of emergency is nice too. Outside of that I gave up the idea of GQ/Esquire lifestyle, and don't need Lanvin or Dior to be happy.

You're getting closer to what I'm thinking, but not quite there. I also gave up on the Robb Report lifestyle years ago. Here's another example: leaving or being termed from your job and deciding to collect unemployment over the holidays or over the summer, etc., knowing that when your poogie runs out you can just go get another job that will meet your salary expectations.

The thought that I, or someone in a similar circumstance, could do that is ludicrous.

 

[MetroStyles]

Originally Posted by HgaleK

True fact.

I quit worrying about money recently. I ran the math and can live happily and comfortably at 35-40k a year as long as I don't have a family. It's mostly material, and mostly necessities a few one time expenses. The security of having a bit of cash squirreled away incase of emergency is nice too. Outside of that I gave up the idea of GQ/Esquire lifestyle, and don't need Lanvin or Dior to be happy.

Yeah, I did the math too and I can live comfortably and happily on 100K a year, without a family. This is in NYC. Somewhere else it would be a lot less. It's actually quite funny - because at my current job or in my field I make / can potentially make a LOT more than this, but if I switch fields, it is very hard to even make this amount. There is a very big gap which makes it a bit of a conundrum.

 

[HgaleK]

Originally Posted by MetroStyles

Yeah, I did the math too and I can live comfortably and happily on 100K a year, without a family. This is in NYC. Somewhere else it would be a lot less. It's actually quite funny - because at my current job or in my field I make / can potentially make a LOT more than this, but if I switch fields, it is very hard to even make this amount. There is a very big gap which makes it a bit of a conundrum.

I couldn't pull off NYC. Half of what makes a Sub 50k lifestyle accessible for me is that I get my kicks out things like mountain biking, hiking, motorcycles and windy roads, etc. You working out whether or not it's worth switching to something you enjoy? I've managed to come full circle on that one.

Originally Posted by Pio

You're getting closer to what I'm thinking, but not quite there. I also gave up on the Robb Report lifestyle years ago.
Would be interested in hearing a sparknotes of your life philosophy.

 

[MetroStyles]

Originally Posted by HgaleK

I couldn't pull off NYC. Half of what makes a Sub 50k lifestyle accessible for me is that I get my kicks out things like mountain biking, hiking, motorcycles and windy roads, etc. You working out whether or not it's worth switching to something you enjoy? I've managed to come full circle on that one.

Still working on it. Every time I get close to saying "Okay, I'm just going to do something I love", I read an article or watch a film that makes me realize I may be naive. It's almost as if there is no middle ground between naive and jaded. My ultimate goal is to do something I like (not love ) for middle-of-the-road money. Gotta find that job and gotta market myself to get it.

 

[HgaleK]

Originally Posted by MetroStyles

Still working on it. Every time I get close to saying "Okay, I'm just going to do something I love", I read an article or watch a film that makes me realize I may be naive. It's almost as if there is no middle ground between naive and jaded. My ultimate goal is to do something I like (not love ) for middle-of-the-road money. Gotta find that job and gotta market myself to get it.

Yeah. I realized that doing something one loves is almost always impractical. Gotta have money to support the lifestyle. Some people get lucky, but otherwise there are weekends and evenings to have fun. I'm guessing you're making more than enough to have something left over in the bank at the end of the year, no? I figure that I'll do something I don't mind once I've got about 3-500k that can sit in easy investments in order to supplement the money I'm not making. Until then the plan is 40-60 hours a week of race to the top in order to get there faster.

What's middle of the road money? 120ish?

 

[MetroStyles]

Originally Posted by HgaleK

Yeah. I realized that doing something one loves is almost always impractical. Gotta have money to support the lifestyle. Some people get lucky, but otherwise there are weekends and evenings to have fun. I'm guessing you're making more than enough to have something left over in the bank at the end of the year, no? I figure that I'll do something I don't mind once I've got about 3-500k that can sit in easy investments in order to supplement the money I'm not making. Until then the plan is 40-60 hours a week of race to the top in order to get there faster. What's middle of the road money? 120ish?
I'd be happy with 80-90 today, 100 in a couple years, with a level-off at 150 in my 30s/40s. I don't need more. I have much more than I need right now. All I really need money for are vacations. I do not take pleasure in extremely fine dining or extremely quality spirits. Over time I've realized that my attractiveness to women does indeed depend on my salary, especially as we age. Not for hookups, but for long-term marriage material. This isn't because women are shallow, it's just that they are programmed to look for men who are either brilliant at what they do or rich. Just like how I want a hot face and D cups in a wife. Given this realization, and the fact that I am still unmarried and do not plan on marrying for at least 5-10 years, I need to keep my stock high in order to keep my options open. If I already had a perfect wife, I would not want money for anything other than "roughing it" style vacations in third world countries and a decent, comfortable lifestyle. I plan on sending my kids to public schools and I do not have irrational worries about not being able to work (there is insurance for that). Regarding college education - who cares? If I do not make enough I will get financial aid or send my kid to Europe. If I do make enough, I'll pay. If I'm in the middle, I'll take out loans. I'd never let myself become piss poor so this isn't exactly something that keeps me up at night.

 

[Piobaire]

Originally Posted by HgaleK

Would be interested in hearing a sparknotes of your life philosophy.

I don't think I have a life philosophy anymore. That would imply I have a handle on some over arching answers and I'm wise enough to know I'm not that wise. I know I'm never going to be a real baller, no private jets, no penthouses in major world cities, etc. I just try to have my little pleasures in life, not take on any consumer debt to speak of, and save for a rainy day.

I also know that what I currently have is hard to come by and actually worth not losing. Once you are in the position that your job is worth not losing, you are shut down on a variety of decisions. It's just like finding a woman that is worth keeping. Once you've made that find a whole host of choices are definitionally ruled out, i.e. random hook ups, doing "your own thing" all the time, etc.

 

[M. Bardamu]

Tangible: to be able to afford private security and transportation.

Intangible: to be able to inspire teh poorz by lecturing them on what an upstanding human I am, which is obvious because I am better educated and make more bank.

 

[SpallaCamiccia]

To get charlie and women??

 

[HgaleK]

Originally Posted by MetroStyles

Over time I've realized that my attractiveness to women does indeed depend on my salary, especially as we age. Not for hookups, but for long-term marriage material. This isn't because women are shallow, it's just that they are programmed to look for men who are either brilliant at what they do or rich. Just like how I want a hot face and D cups in a wife.

I recently come to the realization that they're too big for my hands.

I'm not looking forward to the day that I have really worry about my future. Wife, children, retirement, etc are going to **** up my perfect little plan.

 

[zbelden00]

1. booze, women, fun, fast car, etc
2. college debt (70k), car debt (17k), mortgage (a lot)

 

[suited]

I need money so I can have the option of taking pleasure in doing things that a person would do if they have no money, and none of the responsibility that comes with it. I love the outdoors, and if I had to live off nothing but the land and the wild, it wouldn't really bother me. If would even be pretty fun, for a while. The only way to create that scenario, short of a global disaster, is to spend money. Go on a long vacation to a remote island, long hiking/hunting trip, etc. Having the money allows you to alter your lifestyle. While living in the middle of nowhere would be fun, it might also get boring after 2 days -who the hell knows. Without money, you're essentially trapped into one lifestyle.

 

[Svenn]

Originally Posted by MetroStyles

I'd be happy with 80-90 today, 100 in a couple years, with a level-off at 150 in my 30s/40s. I don't need more. I have much more than I need right now. All I really need money for are vacations. I do not take pleasure in extremely fine dining or extremely quality spirits.
I totally agree... I think for a lot of us in our 20's, we see money as the vehicle to happiness, and we envision doing all sorts of fun stuff with it. Professionals in their middle age however seem to not care about that anymore, they just sort of make money for the sake of it, or to buy banal, zero-happiness-generating entities like a bigger house, cars, other houses, furniture, blah etc. They're married anyway so I guess they're not concerned with happiness in the first place.

 

[otc]

My benefits enrollment period ends at midnight...

How should I decide whether to buy life/disability insurance?

Last year, when I started working, I declined short and long term as well as life insurance (although I had a years worth of a small life insurance policy given by my university)...what factors should I be looking at?

Basic life and AD&D is something like $1.80 a pay period (26 periods)
Short term disability is $2.58
Long term (60% of earnings) is $4.17

these all seem like they are pretty cheap...why wouldn't I pay under $10 every 2 weeks for coverage?

I will need to provide evidence of insurability since I didn't take these when I was hired...but this should be easy as a healthy 24 year old right?