American perspective.
FI in my circle iss generally laughed at or focuses on the "need fuck you money 10 mill net worth".
I'm 41. Starting to see people who are fucking BURIED in debt and will tell you every reason why their house is going to go up even though all signs point to this not happening.
At my stage of the game, I'm also seeing "business bros" who are decent business guys try to compete with real deal business people. It's like a d3 college athlete trying to play in the NBA. A lot of these guys are getting destroyed including their FI ticket.
I'm also seeing a tremendous amount of trend chasing. Airbnb, crypto, stocks, commodities, SEO, etc-these are all GREAT investments, but what I've realized is people literally want to get rich in 1, maybe 2 years. In fact, I think this will actually accelerate as the middle class is probably with 4 years nonexistent if trends continue.
Instagram has acclerated people's view of reality and happiness. People can pretend to be rich, and this can make people envious. My wife and I are close to owning our home outright-yes, it's 1100 square feet and yes the weather is better elsewhere-but it has a backyard and it's safe. Most importantly, this takes a major bill off the table and money to invest. She sees constant social media where people are traveling and doing rich people activities. I personally know a guy with the newest supercar and mansion and they are both-you guess it-leased.
People are getting really distorted views. 90% of the time, they aren't real.
So what do I do?
A: keep the goal of fi. That's a paid off house and low mileage car and solar. That + enough in investments to provide food and utilities.
B: Focus on health.
C: Delete instagram.
For anyone reading this, I encourage you to keep going. I have had a very crazy story even at the age of 41 and the setbacks have been real. Whatever you are doing, keep going.
Do NOT get trapped in keeping up with the joneses.
There is a general society idea, especially on the coasts it seems, to justify high car payments, high house payments, and "lifestyle". If I could do it all over again, I would have pressed in my mid 30s. That's what set me back. I got lazy.
Today is a tough day for me. Could use words of encouragement. submitted by /u/Tryingtodoit23
[link] [comments]
FI in my circle iss generally laughed at or focuses on the "need fuck you money 10 mill net worth".
I'm 41. Starting to see people who are fucking BURIED in debt and will tell you every reason why their house is going to go up even though all signs point to this not happening.
At my stage of the game, I'm also seeing "business bros" who are decent business guys try to compete with real deal business people. It's like a d3 college athlete trying to play in the NBA. A lot of these guys are getting destroyed including their FI ticket.
I'm also seeing a tremendous amount of trend chasing. Airbnb, crypto, stocks, commodities, SEO, etc-these are all GREAT investments, but what I've realized is people literally want to get rich in 1, maybe 2 years. In fact, I think this will actually accelerate as the middle class is probably with 4 years nonexistent if trends continue.
Instagram has acclerated people's view of reality and happiness. People can pretend to be rich, and this can make people envious. My wife and I are close to owning our home outright-yes, it's 1100 square feet and yes the weather is better elsewhere-but it has a backyard and it's safe. Most importantly, this takes a major bill off the table and money to invest. She sees constant social media where people are traveling and doing rich people activities. I personally know a guy with the newest supercar and mansion and they are both-you guess it-leased.
People are getting really distorted views. 90% of the time, they aren't real.
So what do I do?
A: keep the goal of fi. That's a paid off house and low mileage car and solar. That + enough in investments to provide food and utilities.
B: Focus on health.
C: Delete instagram.
For anyone reading this, I encourage you to keep going. I have had a very crazy story even at the age of 41 and the setbacks have been real. Whatever you are doing, keep going.
Do NOT get trapped in keeping up with the joneses.
There is a general society idea, especially on the coasts it seems, to justify high car payments, high house payments, and "lifestyle". If I could do it all over again, I would have pressed in my mid 30s. That's what set me back. I got lazy.
Today is a tough day for me. Could use words of encouragement. submitted by /u/Tryingtodoit23
[link] [comments]