ADVICE on Financial aspects Work Life Balance

LMrNice on 11/09/2018 - 19:52
Last edited 11/09/2018 - 20:26

Hi everyone,

I am a first time poster and a long time reader of this particular forum so please bare with me :)

I need some advice on goals in life, feeling a little low atm as I see some of my friends achieve much success than I. I see them drive nice cars (Merc AMG), I know that they own a nice investment property at the age of 26 and travelling the world.

I work about 60 to 70 hours a week and earn about $89250 before tax per year.
I have an investment property and drive a fairly modest car.

My life is very work driven and I focus my time spanning across 7 days on work. I don't really have breaks and I feel like it is given be the best of opportunities in life but I can't climb the ladder (no room for promotion in my job).

My investment manages to only pay half of my mortgage and I use my salary to pay the other half.

I do feel accomplished in that I have a job and I bought a property.

I just feel that, I work across 7 days and do not have time to just relax and time to myself.
I know I can reduce days, that then reduces my pay and I can't save for holidays or be more comfortable buying things that you like.

What can I do to earn more?

My friend who is not in real estate though, suggested me in buying a positively geared property and in turn it will allow me to take a break and reduce my hours of work.

I did some research and a company can find you these positively geared properties in Brisbane for about 500k and rental of $34000 per year for a commercial property" the catch is you pay $990 for them to show you properties and you choose from their selection of properties.

My question is, what is the best way to achieve a form of financial freedom? I will not go for the MLM and all those marketing financial freedom shit haha..

Poll Options

  • 3
    Should I buy a positively geared property of places like ReThink Investment?
  • 3
    Should I start a business?
  • 39
    Accept my fate and enjoy the fruits in old age haha..
Financial

Comments

  • payton on 11/09/2018 - 20:03
    +6

    My question is, what is the best way to achieve a form of financial freedom

    Live at home till you're 35
    Seriously tho, cut down those hours a bit so you don't get overly stressed

    • MrNice on 18/09/2018 - 19:06

      Thank you Payton for your suggestion :)

  • [Deactivated] on 11/09/2018 - 20:03
    +25

    I did some research and a company can find you these positively geared properties in Brisbane for about 500k and rental of $34000 per year for a commercial property" the catch is you pay $990 for them to show you properties and you choose from their selection of properties.

    Huh. Returns that are higher than current interest rates and they're not buying it but giving them up for $990?

    Hmmmmmm…..

    Ps. Stop looking at Facebook. You're only looking at highlight reels and wondering why you're not a chronic walking highlight.

      • [Deactivated] on 11/09/2018 - 20:10
        +30

        I'm going to assume you're sockpuppeting or you're actually very bad with common sense and marketting.

        Ps. I'm not even going to click the link.

        • [Deactivated] on 11/09/2018 - 20:27
          +20

          @MrNice:

          1. Don't spend on things that do not contribute to having low expenditures. Ie. That AMG.

          2. Don't fall for scams and fake reviews.

          3. Be good at what you do. If you can do it better than the person you work for, be your own boss and the be even better. Capitalism.

          4. Make sure your outgoings never exceed your income. Similar to point 1. Don't accrue liabilities.

        • MrNice on 11/09/2018 - 20:30
          +1

          @tshow: Thank you :)
          Very much appreciated!

        • MrNice on 11/09/2018 - 20:31

          @tshow: Is fake reviews an actually thing? Don't people get in trouble for that?

        • [Deactivated] on 11/09/2018 - 20:34
          +8

          @MrNice:
          I think you need to rethink investment and just be a 9-5 drone for now.

          I'm not saying that to be negative. It's what most readers here are going to be sincerely advising.

        • buckster on 13/09/2018 - 17:10
          +1

          @MrNice: Fake reviews is a huge thing. As the guys said, if the deal is so great, why haven't the people spruiking the properties bought them all up?

      • nikey2k27 on 13/09/2018 - 19:30
        +2

        Dude relax work a bit less if you can I did what you did and it all most killed me I own a home and few investment but kill for my health back now I am 35 take 4 week of go cheap place in world just chill out

        • MrNice on 18/09/2018 - 19:08

          I know, but if I work less I will not achieve what I want in life. My goal is to use those funds to create and build more wealth like you :)

          At the same time, I do not want to damage my health along the track :(

  • [Deactivated] on 11/09/2018 - 20:09
    +5

    I see them drive nice cars (Merc AMG), I know that they own a nice investment property at the age of 26 and travelling the world.

    Assuming no real income until age 21, your friend is either driving an old AMG or earning ~$150k pa straight out of TAFE/uni and blowing it all on the car.

    Or rich parents.

    Or criminal activity.

    Or some unethical BS.

    You can choose to measure life like I do - keep adapting your standards until you've achieved it…. JK. I measure my success and financial freedom by how much I actually still need to work. Really assess that. If I have passive $50k pa and no further need for expense, I'm killing it.

    If I am obliged/addicted to spending 200k pa and I earn 400k pa before tax, I'm f—ked.

    • HighAndDry on 11/09/2018 - 20:13
      +5

      or earning ~$150k pa straight out of TAFE/uni and blowing it all on the car.

      Or car loan… I mean, it's okay to borrow money to invest, right?

      • [Deactivated] on 11/09/2018 - 20:15
        +3

        I didn't mention that option as I refuse to believe anyone with the intellectual capacity to click a mouse is stupid enough to take a loan for a car.

      • [Deactivated] on 12/09/2018 - 02:31

        A200 AMGs are high yield

    • MrNice on 18/09/2018 - 19:10

      Sounds about right! What I really want in this life is a passive income stream that does not rely my hours dependently. Where I can travel the world and support myself and but things that I like. $100k to $120k passive income is the goal per annum :)

      • [Deactivated] on 18/09/2018 - 19:45

        Many people are aiming for $100k-$120k pa day job income.

        Your goals will put you in the top 0.1%. Not to pour cold water but you should assess your short term goals a little more, ie your level of knowledge, skill and ability. If you don't improve yourself and you can even consider the scheme you linked, your goals are nothing more than dreams.

        Goals are achievable but you don't get there by setting targets. Any fool can choose the biggest prize but it takes effort and dedication to achieve.

  • mini2 on 11/09/2018 - 20:09
    +5

    You do realise commercial properties are a completely kettle of fish compared to residential?

    Ever considered if these spruikers are as good as they say then why don't they keep accumulating more properties themselves rather than showing someone things they've found? Good from the bottom of their heart or something? Yeah nah. Hell if I'm so good at it I'd probably shut the door on everyone else pronto rather than just make $990 out of it.

    As they say if it's too good to be true…

    • MrNice on 18/09/2018 - 19:12

      Thanks for sharing this with me. I get it now :)

      They are more reliant on getting people to buy it to make $ and the $ isn't in the property itself

  • HighAndDry on 11/09/2018 - 20:12

    a company can find you these positively geared properties in Brisbane

    No. Do not buy property for investment in Qld.

    • Scab on 11/09/2018 - 20:13
      +4

      I'd go timeshare.

    • MrNice on 18/09/2018 - 19:12

      Why is that actually? Can you share some insight?

      • HighAndDry on 18/09/2018 - 23:50
        +1

        After the Sydney and Melbourne property markets took off (around 2011 I wanna say?), property developers got greedy. They looked at the next biggest city, Brisbane/Gold Coast, and went to town. Of course, since land there was even cheaper than in Syd/Melb, a lot more developers got in on the act and construction absolutely exploded.

        Not only did this happen later - and so closer to the peak and then fall in the property market - property values are ultimately based on population because they exist for people to live in, whether in capital gains where you sell later to someone who wants to live in it, or in rentals for someone to rent to live in. Now go look up the populations of Sydney, Melbourne, and then Brisbane. Yeah.

  • morpheous on 11/09/2018 - 20:14
    +7

    Grass is always greener on the other side. That being said having a work/life balance would require you to be content, which is never possible as we always strive for more.

    Cut down on those hours, take a vacation. As much as we would like to lie to ourself that chasing money is the end goal it isnt.

    And as tshow pointed out rental option feels to good to be true, be sure to talk to someone who themselves are in this situation

  • Scab on 11/09/2018 - 20:17
    +13

    please bare with me

    No, I'm not undressing for you.

    • Zedsdeadbabyzedsdead on 11/09/2018 - 21:43

      Does a bare shit in the woods?

      • buckster on 13/09/2018 - 17:10

        I've come across plenty of bare shit, occasionally someone covers them with leaves

  • Godric on 11/09/2018 - 20:25
    -2

    earn about $89250 before tax.

    A week?

    What's your problem then OP?

    • MrNice on 11/09/2018 - 20:26

      A year

      • Kangal on 12/09/2018 - 09:25

        "Tell em he's dreamin"

  • Complimentary on 11/09/2018 - 20:43
    +1

    dont worry about others.
    worry about yourself
    If others jump off a bridge,will u follow suit??
    U can only work hard for a few years and so u should
    thanks

  • Bohlen on 11/09/2018 - 20:58
    +1

    Keep working
    Max out super
    Put any extra into ETF's / LIC's
    If you have the time and energy ( Doesn't look like you do ) start a business on the side.

  • Diji1 on 11/09/2018 - 21:09
    +27

    Your problem is you joined the consumer rat race where you pretend happiness comes from buying things to peacock to other people after doing soul destroying levels of work. Your life is meaningless.

    • Shpox on 13/09/2018 - 16:06

      Voice of reason here. This guy gets it You left school, got a job, you work your life and get nice things. Do you really think this is the meaning of life?
      Do you have any meaningful connections in life? What have you done? What have you achieved? There is more to life man than work man and a number at the end of the work week.

      If you think this isn't, you could be on your way down to some mental health issues. You only get one life, don't think it's all work and cars.

  • AusGP on 11/09/2018 - 21:21
    +12

    Life's not a race against others. There will always be someone you can compare yourself against who is doing better - doesn't mean you need to be any less content/happy.

    I suggest reading 7 Habits Of Highly Effective People - got me out of a rut

  • TheBilly on 11/09/2018 - 21:34
    +1

    I did some research and a company can find you these positively geared properties in Brisbane for about 500k and rental of $34000 per year for a commercial property" the catch is you pay $990 for them to show you properties and you choose from their selection of properties.

    LOOLL

    Also why aim for an AMG? go lamborghini?

  • JIMB0 on 11/09/2018 - 21:37
    +21

    Plenty of people can get an AMG by going into debt. Doesn't necessarily mean that they have a heap of money. Some of the most financially well off people I know drive really old dilapidated cars and couldn't care less what people think. Hint: that's how they got there in the first place.

    • Zedsdeadbabyzedsdead on 11/09/2018 - 21:42

      Spot on.

    • Brianqpr on 13/09/2018 - 14:55

      Yes a lot of it is for the "look at me I've got money" effect when often they don't. I remember as part of my job seeing a financial plan written for a young lady earing about $45k. In the assets/liabilities bit she was driving a $100k Merc and owed $90k to Merc finance on it.

      Still, I'm sure she at least looked wealthy for a while.

  • watwatwat on 11/09/2018 - 21:50
    +3

    Yes, you should definitely use that facebook link to buy an investment property from that company so you too can drive that nice Mercedes. It seems very strange but people other than yourself appear to have a perfect life with a great premium vehicle. You should try and catch up with them man, you deserve a good life.

  • [Deactivated] on 11/09/2018 - 22:07
    +7

    feeling a little low atm as I see some of my friends achieve much success than I.

    Well. This is easy. IGNORE OTHER PEOPLE'S THINGS.

    There will always be people that are wealthier than you. An even higher percentage will appear to be wealthier but are just up to their eyeballs in debt. Ignore them, it's a trap.

    Good job on the modest car. Not buying an expensive car is the best way to get financial freedom faster.

    You don't know who is actually doing well until they retire. So many people with nice cars and houses will be in debt and working until they drop dead or have to get the pension and retire to a caravan park.

    Have a read through: https://www.reddit.com/r/fiaustralia

    Don't kill yourself working, prioritise what is important to you. If you want to travel and it's important to you do it. But don't do it just because that's what other people are doing, you work hard to earn the money, sp spend it on the best value things that are the most important to you. Any you save now will help you get out of the rat race earlier.

  • ihbh on 11/09/2018 - 22:28
    +1

    What can I do to earn more?

    Why don't you work on your language skills? Your written skills are poor and I assume your verbal skills are similar.

    I focus my time spanning across 7 days on work

    Given your poor language skills, is this in manual or administrative work?

    but I can't climb the ladder

    See my points above. This is to be expected.

    Instead of investing in more real estate, why don't you invest in yourself and your income production capability?

  • BruceLee on 11/09/2018 - 23:07
    +13

    An American investment banker was at the pier of a small coastal Mexican village when a small boat with just one fisherman docked. Inside the small boat were several large yellowfin tuna. The American complimented the Mexican on the quality of his fish and asked how long it took to catch them.

    The Mexican replied, “only a little while. The American then asked why didn’t he stay out longer and catch more fish? The Mexican said he had enough to support his family’s immediate needs. The American then asked, “but what do you do with the rest of your time?”

    The Mexican fisherman said, “I sleep late, fish a little, play with my children, take siestas with my wife, Maria, stroll into the village each evening where I sip wine, and play guitar with my amigos. I have a full and busy life.” The American scoffed, “I am a Harvard MBA and could help you. You should spend more time fishing and with the proceeds, buy a bigger boat. With the proceeds from the bigger boat, you could buy several boats, eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman you would sell directly to the processor, eventually opening your own cannery. You would control the product, processing, and distribution. You would need to leave this small coastal fishing village and move to Mexico City, then LA and eventually New York City, where you will run your expanding enterprise.”

    The Mexican fisherman asked, “But, how long will this all take?”

    To which the American replied, “15 – 20 years.”

    “But what then?” Asked the Mexican.

    The American laughed and said, “That’s the best part. When the time is right you would announce an IPO and sell your company stock to the public and become very rich, you would make millions!”

    “Millions – then what?”

    The American said, “Then you would retire. Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siestas with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos.”

    • Ash SA on 12/09/2018 - 10:47

      And with millions in the bank

      • Donaldhump on 13/09/2018 - 14:36
        +1

        and 2 years left to live, because he is 65 and just got a terminal illness

        • buckster on 13/09/2018 - 17:12
          +1

          The good old "el cancer"

    • Optimistic Goat on 13/09/2018 - 19:50

      It's a well-written story, but what happens when a heavy storm comes and dashes the poor fisherman's boat against the rocks? He has no savings to buy a new boat for his subsistence lifestyle.

  • puzzles2 on 11/09/2018 - 23:09
    +3

    They say you don't know who's rich until they retire. It's all down to budgeting and prioritisation I believe, your friends may spend money on nice AMGs and such but that doesn't necessarily that they're rich.

    It's just how they choose to spend their money, in 20-30 years they may still be working to maintain their lifestyles while you can relax because you've prepared for the future. Of course they may not be in that situation too, if that's how they want to live their life all the more power to them.

    Don't base your goals off others, think about what you personally want in life and work towards it. Comparing yourself with others will only lead to misery.

  • braskic on 12/09/2018 - 08:08
    +1

    Did you know it’s possible to make an existing property less negative or even positive? What’s your interest rate? Principal and interest or interest only? Offset?

    Speak to a mortgage broker and see if they can get you a better deal. You shouldn’t have trouble getting a refinance seeing you can prove you have a large income and do lots of hours. Once that stress is reduced you can drop back on the work and use your time for something you like.

  • idontalwaysnotlie on 12/09/2018 - 09:01

    Start comparing yourself to the 99% of the world rather than the 1%. https://www.gapminder.org/dollar-street/matrix

  • purplelady on 12/09/2018 - 09:06
    +1

    Stop checking your friends' Facebook/Instagram. They could be having a better life than you, but EVERYBODY posts only good things they have in life. Do you think they would post the debt they have for the car on facebook/instagram? Or the backstabbing colleagues they have? I post only nice things I encounter during my day, but my life is actually pretty boring. So, try to enjoy your life. You should earn money for the rainy days, yes. But from what I can read, you're living well. There's no guarantee you'll live until you're 100. So try to enjoy it too (though don't spend all your money today!). I used to work full time + weekend casual and that affected my social life A LOT. Then I quit, and I can take it easy and enjoy my weekends. It's good to look up, but look down sometimes too!

    • Deridas on 12/09/2018 - 09:13

      I always unfriend, or at least unfollow all "friends" on Facebook/Instagram who show off their wealth/happiness/travelling, they're closet nassicists, and make others feel bad. It's like Instagram models, you know most of it is fake.

      • purplelady on 12/09/2018 - 09:18

        travel photos are ok for me as it gives me ideas for next time. But yeah, if they post a million a day, yep, unfollow. Especially the one who posts 5 times a day (i.e. my morning coffee, taking whoever to coles, lunch, afternoon tea, dinner, relaxing before bed time, blah blah).

        • spackbace on 12/09/2018 - 10:18
          +1

          Have someone who deletes a FB post if it doesn't get enough likes. He also likes his own posts

          I actually find it hilarious 😂

        • purplelady on 12/09/2018 - 10:39
          +1

          @Spackbace: okay…. I'm speechless… lol

        • Deridas on 12/09/2018 - 12:36

          @purplelady:

          It's just a symptom of the current nasssistic world we live in, driven by commercialism.

  • Tightpocket on 12/09/2018 - 09:28
    +1

    89K is that plus super or including super? for 70 hours a week that is not much as you pretty much doing 2 full time job - maybe consider another job that pay almost the same with less hours.

    If there's no promo then there's always room for negotiation, you can call me garbage man but if i'm earning more than my accountants who cares..

    To achieve financial freedom. it's a mystery of the world isn't it?? it's an illusion as there's no such thing, you earn more you spend more..based on your post I reckon even if you have millions of dollar i don't think you'll say..yup this is enough for me..nah you will just keep competing even when you're not in a competition. stop this rat race at once and you'll feel much better.

  • one man clan on 12/09/2018 - 09:47
    +2

    I've posted this before but look up the concept of FIRE (Financial Independence, Retire Early) - check reddit r/financialindependence or mr money moustache . Sounds like you need a goal to work towards. 70 hours a week at 89k a year is $24 an hour which is pretty shit pay.

  • mini2 on 12/09/2018 - 10:17

    I need some advice on goals in life, feeling a little low atm as I see some of my friends achieve much success than I. I see them drive nice cars (Merc AMG), I know that they own a nice investment property at the age of 26 and travelling the world.

    Actually here's part of your problem - you've only seen one aspect of their lives, obviously you haven't seen other aspects of it

    Have a read:
    https://spy.nzherald.co.nz/spy-news/max-key-addresses-mental…

  • jellykingdom on 12/09/2018 - 10:50
    +4

    I'm going to agree with everyone else on here and tell you to stop comparing your life. I know i've been guilty of it in the past. Everyone seems to be richer in money and experiences, have more friends, have more fun, have better wives/husbands, have better kids, go out for dinner and drinks more often, go travelling more, better jobs that they love, etc. But it isn't reality, it's just the glamour reel version of their lives.

    Regarding financial happiness etc, maybe do a little audit of the things you have versus what you need to make yourself happy. There's a reason that happiness levels are shown to peak at certain ages and certain incomes - too young and you get too much FOMO and get all materialistic, and too poor/rich and you get jealous of others and never content.

    I make good money and so does my wife, but I used to think about the fancy car and fancy house and how it would make me happy. Then i sat down and thought "…why do I even want a fancy car? i'm not a car guy. I drive it to work and back. Why do i actually want it??" and realised it was just to show off and know that i have a fancy car. So i found a nice little car that was fun to drive, comfortable, stylish, etc but I settled for a logical choice. Regarding the fancy house, I just kind of accepted that a) not many people get the fancy beachfront house, and b) I have the skills to turn my comfortable house into a really beautiful house using my own hands and I feel more fulfilled because of it, rather than living in some cookie cutter McMansion.

    I just think it's all about perspective, and some dose of reality. What is going to make YOU happy and why? I doubt working 70hr weeks is going to make you happy, just so you can drive a shiny new car that will get scratched, damaged, need repairs, etc

    • nep on 13/09/2018 - 14:01

      "…why do I even want a fancy car? i'm not a car guy. I drive it to work and back. Why do i actually want it??"
      - Thumbs up for this line

  • [Deactivated] on 12/09/2018 - 11:07

    I get paid pretty bad but with all that overtime I'd be making over $100K. Are you working at Woolies or Maccas?

    • purplelady on 12/09/2018 - 13:12

      Maybe chefs? They work awfully long hours and doubles with no extra pay

  • littleburrito on 12/09/2018 - 13:27
    +7

    My years in financial planning has taught me that there's no need to be envious of all the materialistic things others have. Many talk about their assets but no one wants to discuss their liabilities. A couple's financial situation has always been a reminder for me -

    Husband and wife, early 30s, both FIFO workers with listed mining company, combined income just under $400k, has a nice house and owns an investment property, nice cars, spa in backyard and jetski

    Sounds like lots of people should be envious of their position!

    The reality is that they have a $20k personal loan that was used to pay for the wedding (large diamond on her engagement ring? over the top wedding?), credit card debts, mortgages etc. The wife had to go back to work after 3mths of paid maternity leave as they can't survive on a single income to meet their loan repayments.

    Still envious?

    Your income of $89,250 on average of 65hrs work per week works out to be $54,923 based on a 40hour week with no room for promotion. Have you tried looking for another job with better pay and opportunities? Will be great if you can let us know your line of work and hopefully someone in this forum can give you some directions.

    And as for property investment, I understand a lot of people love it because it's tangible and of course there's some who love the opportunity to tell everybody that they own an investment property. Another reason is cos they have no idea how to invest in shares. The idea of an investment is to make money and before buying an investment property, everyone should do your research and proper calculations to have a good picture of your approx investment return. For eg, your rental income is 3%, growth this year is 0% but you are paying the bank 5% interest. This isn't a proper calculation but will you be achieving good returns this year based on the figures? And most importantly, are you able to hold it for the next 10 years? A 26yo may find it difficult to hold an investment property for 10years due to changes in his/her financial situation (getting married, having kids etc) but may be a good investment for a 46yo who is financially stable with no major changes in life.

    Commercial properties works differently and it's great if you manage to secure a long term tenant as businesses tend to move in and stay there for years. However, it may take a very long time to find another tenant should your existing tenant chose to move. Can you afford 3-6 months of repayments without a tenant?

    • jellykingdom on 13/09/2018 - 13:52
      +1

      Whenever I hear of those kind of scenarios, i always say "what is your relationship and friendships worth to you?". Cos you can't maintain a normal life while working FIFO, it just isn't possible.

      If you're young, it makes financial sense to do some of those things, but we're not robots. Obviously it makes sense to never drink alcohol or go out for dinner or travel, just stay home and don't spend a cent. But it's damn well not fun!!!

      I don't think those people will look back in 10-20years and think that they did the right thing by not seeing each other, seeing none of their friends, missing out on a million birthday parties/footy matches/baby showers/weekend getaways…

  • Illian on 12/09/2018 - 15:43

    You're already part of the, what, 5%? 1% for your age? Just be happy with what you have, utterly ridiculous to be envious of anyone else while in your position, guess it's human nature. Thankfully I've never had that problem because I certainly don't care about the things the sheeple do. Though I would certainly suggest you plan to be in a position of some financial freedom down the road and make it happen. Working that much will screw you up and you're right to want to cut back.

  • peterw1 on 13/09/2018 - 14:18
    -1

    its called the human race, but my friend it isn't. If you are feeling down, go and visit a childrens hospital cancer ward or think about the ward and its patients, you'll be a lot happier with your life.

  • Donaldhump on 13/09/2018 - 14:19

    1.) stop being jealous of other people, you will never be happy, always is someone better. My younger brother played guitar from 12 instead of studying at school, he ended up being the guitarist for a pretty popular australian band that now has disbanded, and he just cruises doing what he wants. I was once Jealous, but now I am happy for him, and happy with my own life, which is quite good.

    2.) you want to earn more money, get a job in high demand. Study if you need to do become qualified for that job. What do you do now requiring 70 hours work a week?

    3.) just because some one has something, does not mean they own it. My uncle is a prime example, on the surface looks solid rich, in reality owns nothing, but see question 1, stop being jealous.

    4.) working 70 hours a week to earn 89k is a little pointless. how do you enjoy life?

  • anonymous01 on 13/09/2018 - 14:36

    I work about 60 to 70 hours a week and earn about $89250 before tax per year.

    Do you work to live or live to work?

  • Brianqpr on 13/09/2018 - 14:56
    +1

    I've said it many times. If you measure your success by the money and things you have you will NEVER be happy. Unless you become the wealthiest person in the world. The odds are against that.

  • frostman on 13/09/2018 - 15:04
    +1

    You're chasing an unattainable dream, once you drive a Merc AMG - you will come back here in years time asking why 22 year old CEOs of FinTechs have a La Ferrari and im driving a C63 AMG.

    Your issue in life is that you're chasing money too much and losing out of experiencing life, this chase has led to suicide and many others mental issues.

    Take life easy and reduce some of your work to see life as it should

  • blehgg on 13/09/2018 - 15:21

    thats alot of hours for 90K….

    what field do you work in?

  • josho9 on 13/09/2018 - 16:02

    Yields are higher with commercial property because you are also assuming significant risk in holding it.

  • Flanders on 13/09/2018 - 16:16
    +2

    "can't climb the ladder (no room for promotion in my job)."
    If you want a promotion and willing to work for it, or study for it etc, then move to company with opurtunities for moving up 'the ladder' .
    That said, I don't know your skill set ? Perhaps add a lil more about your skills, education, interests, and aptitudes, to the original post.
    Also, never compare yourself to others. The only valid comparison is you. Ie. Be the best you can be.
    And success is not the same across the board. Money does not equal 'sucess' , it just buys stuff. And money will never make you happy.
    Some of my siblings are very very wealthy, however, I am pretty sure what they would consider their greatest 'success' would be their raising of children (and possibly finding a good partner to love and cherish) . My sibling with the most $$, doesn't even spoil his child. He retired in his mid 40's and is now studying to be a paramedic as a hobby, since he doesn't need the income at all whatsoever.
    My sibling I guess with 2nd most $$, spoils his daughter silly, but she probably doesn't have any value for money (still 6yrs old tho) and I think she would have been just as happy getting a $5 necklace, rather than the $500 one with diamonds she got for her birthday (and now cannot really wear much, because its so fragile, lol) .
    So money really isn't linked to happiness nor fullfillment. Remember that, next time you stress and worry yourself about someone else with more $$ than what you have.
    Instead, try to consider what you REALLY WANT from life, regardless of what someone else has or has not got. Once you come to such realisations of what is really important to YOU, then you have a goal, with your progress towards such real goals in life, can be in a sense a measure of sucess .

    • MrNice on 18/09/2018 - 19:23

      Thanks for your input :)

      I understand that, but to take holidays, have a house and not rent I would have to work real hard :)

  • Munki on 13/09/2018 - 16:19

    "You need a better job that pays higher." - Joe Hockey

    • MrNice on 18/09/2018 - 19:22

      Yes I do haha..

  • idonotknowwhy on 13/09/2018 - 16:33

    Setup some cryptocurrency master nodes and live off the daily payout.

  • Eevee on 13/09/2018 - 17:00
    +3

    It might sound harsh, but you sound like a slave to money. You are working too much and you continue to keep looking for ways to make more money. You desire money for meaningless material things. You compare your lives to others and judge their experience of life based on their possessions (cars, houses etc.).

    Perhaps read a bit of The Millionaire Next Door. It shows the net worth of individuals and found out that many high income earners had lower net worth than middle income earners and that's purely based on the decisions of how these people spent their money and how they managed it.

    Also realise that you are simply sacrificing all of your time and life for your work right now. There is much more life to than work and money. If you died today, would you be happy with how you spent your life?

    If you can change your view on life and money and manage your money well, you can very well end up being more wealthier than these people and also end up living a better life (not just fancy cars etc. but have more time to do meaningful things).

    • MrNice on 18/09/2018 - 19:21

      That is my end goal, to be able to use my time to do nicer things. But it all needs some form of money. I would have to create wealth somehow :(

  • BartholemewH on 13/09/2018 - 18:46
    +3

    A family member just bought a house that is worth literally twice the value of ours. What no one knows is that (though it isn't his first house and he sold his first house after 7 years ownership) he is borrowing near 100% due to lack of equity in the old house and is also gaurantored to max via the wife's olds. Even still, the personal loans and credit cards were going to knock the whole thing over at the eleventh hour so he used short term off book loans from morons (ie me) to cover the shortfall. This is despite earning 30% more than I do.

    From the outside, he is undoubtedly more successful. Not everything is as it seems.

    • MrNice on 18/09/2018 - 19:16

      Wow, honestly I didn't realise people would go to that extent to show themselves as successful when they are actually in a mountain of debt. I wouldn't be able to sleep at night knowing everything could literally tumble down and fall apart. Literally to safety net and living paycheck by paycheck is something that I cannot do… It would totally ruin me. Thanks for the insight

  • arescarti42 on 13/09/2018 - 19:29
    +1

    Stuff like fancy cars can be fun, but they will never make you happy and give your life meaning. They can make you unhappy if they require you to give up the things that matter in order to obtain them (doing things and spending time with people you like, living a healthy life).

    https://waitbutwhy.com/2013/11/life-is-picture-but-you-live-… does a good job explaining why the never ending chase after more and better won't make you happy.

    • MrNice on 18/09/2018 - 19:14

      Thanks for that :)

    • [Deactivated] on 18/09/2018 - 19:47

      Sounds like an excerpt from The Art of not giving a fxxk

      • MrNice on 18/09/2018 - 19:49

        Tshow, please stop being soo desperate for attention. Your profanity is not welcome here. Go neg my responses. Very inconsiderate of others.

        • [Deactivated] on 18/09/2018 - 19:50

          Mate, Google it before you make yourself look silly.

        • MrNice on 18/09/2018 - 19:51

          @tshow: my bad

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