Real Estate Professional · Las Vegas, NV · Member since 2013 · 225 posts · 74 votes
Just an honest question.
Besides being able to "retire early" and maybe do a couple international trips a year, why do you want to acquire a massive amount of wealth?
I used to fall into this category. But then I switched jobs and enjoyed my job a lot more (so much so that I think i'll work til 65 or whatever the retirement age will be). Also investing in real estate has made me pay attention to my budget more. I find "cutting back" on luxuries doesn't hurt me at all and it's kind of the situation where buying real estate to make me wealthy is making me realize I don't need to be wealth to be happy.
Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
8y
Just need to clarify that I don't desire super wealth. To me that's GC 10x type flying around in your jet working all the time.
Our goals change over time of course. First for me was content FI. I just wanted freedom. Freedom from the commute and rules, freedom to do or don't take a nap.
Then it was- what if my kids never had debt, ever (except a house maybe). What if their kids didn't either. Never a car loan, never a cc, never a student loan. What a leg up they would have. I'll be the first one ever in my family to pass something down. Legacy.
Then it was- what if my parents who were 'poor' but always provided could donate a 3rd of their estate (my share someday, maybe $75-100k) to local causes they supported for decades. My dad had tears when I told him I would like to do that. Giving.
We'll never be 'super wealthy' but will impact at least 2 subsequent generations. There's been enough sacrificing and doing without in my family tree. Time to let some younguns not have to start from scratch. I think that's my biggest why. Good discussion!