I was thinking about all those retailers going into administration and the PM urging people to buy stuff. Apart from a recently published rchased iPhone XS I havnt brought anything and don't feel the urge to buy anything anymore. Got my QC25s, a 2014 MacBook Pro and 13 pair of shoes in my closet that I've never worn. I clear about 1900 a week after tax and can scroll through oz bargain and not feel the urge to buy anything. I'm pretty much satisfied with the stuff I have and feel no inclination to upgrade. I'd love to take more holidays but can't take the time off. I think I'm coming to the point where accumulating more stuff just doesn't work for me. How about you? I know this goes beyond the spirit of ozbargain.
Have We Reached Peak Stuff?
Icecold5000 on 17/01/2019 - 21:48
Comments
@abb: The 2014 Noble Prize for Physics was awarded for the invention of Blue LEDs
Sounds like this kid is taking a lot of progress for granted because he wasn't around in the dark ages (pre-internet/smartphone).
@abb: Did you not read what I wrote ?
I’m not denying the changes
I’m advising the underlying technology in led has hit a peak pointInnovation was the discussion was it not ?
Not a history about tv
@bnebgnhunter: What do you mean "underlying technology in led has hit a peak point" ?
I've pointed out that the underlying technology was still breaking new ground ('innovating') within the last few years. Therefore, it's rather premature to say "that's it". Can you provide some fundamental physics equations that show LEDs have reached the limits of possibilities?
TONS of research is still being done on LED chemistry. If you can prove it's pointless, I will pick up the phone and cancel a few million dollars worth of research projects!
Your statement is like someone seeing a DC-3 (or even a 747) and saying "wow, aviation sure has reached the peak!"
@abb: there's evidence for both:
progress is slowing,
moore's law is slowing down https://semiengineering.com/the-impact-of-moores-law-ending/
the next new drug will cost $3bn to create,
CRISPR is at the pinnacle of DNA technology
as we get closer and closer to quasar shockley limit for photovoltaics, the incremental fraction of a % costs millions of dollars to achieve.But we're making new progress in quantum computing, software, artificial intelligence. etc.
Roll-up OLED TVs
Transparent OLED TVs
AR + VR
@dcep: Phunkydude correct but people are missing the point I am making
Innovation hasn’t really moved forward on the underlying technology behind certain things
@bnebgnhunter: I guess it seems that technology isn't changing and becoming outdated as quickly as it once was.
As an example, a 15 year old Pentium 4 PC (upgraded to 2gb of ram)looking is still capable of running Windows 10.Whereas in 2004 a 15 year old PC had no chance of running xp. The leaps and bounds have reduced a bit.
@phunkydude @bnebgnhunter
@[Deactivated]: Give a kid an iPhone 4 and see if they agree…
Desktop PCs are lasting longer (if you're not a gamer or AI researcher), that's true. But portable devices are seeing rather significant performance (and performance per watt) gains every year.
Innovation is still pretty amazing….you're just expecting to much if you buy the latest product with every new release its a waste…However If you only buy a new TV every 10 years you will notice huge improvements same goes for most electronics with the exception being Fridges and Speakers :P
btw i just replaced the battery in my iphone 6s plus which was still working after 4+ years but i thought an upgrade in mAh would give it some extra ommpf…not a user friendly changeover but quite doable with some nimble fingers and a youtube vid.
Everything that can be invented has been invented I wouldn't bet on that.
I haven't even begun to peak.
And when I do peak, you'll know because I'm gonna peak so hard that everybody on this site will feel it.
That's what she said.
You need to chillbro
Weird OzBrag tonight.
All things you're buying are quite common…..and cheap, have you thought about buying a jetski or a boat? Maybe a bigger house or a fancier car?
Not sure how a boat or JetSki would improve my life. A lot of expensive consumption can be traced back to emotional insecurity. Given I don’t really care what people think this eliminates a lot of stuff which exists to peacock ones status to strangers.
But that's only true if you use it to flaunt it. I always wanted a Porsche. Never thought i'd have one. One day I realised i was old and could actually afford it, so i bought it. I love driving that car but it's not flaunted. I just take it for a drive every now and then, alone. It's like a work of art - to me.
What kind of Porsche?
@[Deactivated]: Cayman. I like that it's small, only 2 seats, and the motor is in the middle of the car.
I happily live in a 2 bed fibro house that looks like it's rented. Life is for what you enjoy, not what others think you should have, or be, or achieve.
You sound like you're ready for Fight Club.
I was thinking; children, religion or charity.
Actually interesting point, its a good place to be. I'm the same, as time goes you realise you don't need much to keep you happy. I don't like clutter, so less stuff the better.
I question everything I buy. I consider;
- I'm going to use it often? If not waste of money
- what new functionality this gives me if its a upgrade, is it actually something I will use?
- if replacement, do I need it, what cheaper alternatives are there?
- Cost recovery selling old? If I dont use it anymore, it goes on Ebay.
Not sure why it is so common for people to say i brought instead of i bought?
because they're commoners
I find it's not even a typo, they actually say it out loud too.
Yeah it’s not a typo, i think it’s an actual thing ><
Hurts my ears hehe
i love saying what did buy???
until they repeat brought and realise they said the wrong thing. annoys the crap out of them 🤣
Brought is to bring.
Bought is to buy.
It's somethink you can't exscape.
No one aksed you.
Easy there, Negative 1.
damn.. I only clear $1890 a week and still buy stuff
Maybe its that extra $10 that will provide me with not-buying-stuff zenGonna change it into 20s and roll around naked with a high price escort. Maybe that will shake me from my lethargy.
we get it you are rich, but don't even want to spend your money on anything. nice one.
I'm not rich. Rich would be classed in my mind as 1 mil in cash without debt. If you actually saw where I lived rich would be the furtherest thing you would associate with me. I still have to get up and commute every weekday with everyone else on public transport (because my helicopter is being repaired) and sit at a desk for 8 hours a day. I'm just lucky to have the job that I have which could and will someday end.
if you earn that much you are rich.
Not even close
@KozieSeller: It's a very niche role out of which there is no escape. Not very enjoyable and will take a huge salary cut when I move to another industry.
Not to me. Being rich is measured in months (months you can sustain your lifestyle without working), not salary.
@idonotknowwhy: i could live my current lifestyle for about 5-6 years on one year of that salary, probably more if I started penny pinching.
@wordplay: Then your wealth of 5-6 years ;)
I don't know the exact statistics, but a lot of people on high salaries have maybe 1 month, and even more people on average salaries are in credit card debt.
@idonotknowwhy: so you are saying that if you make $5million a year, but spend all of it except for $10,000 you are as rich as a perso who makes $50,000 and saves $10,000?
it does not make sense
@wordplay: Well firstly, I'm not a fan of little So you're saying summaries.
so you are saying that if you make $5million a year, but spend all of it except for $10,000 you are as rich as a perso who makes $50,000 and saves $10,000?
This is an exaggeration, but it still works to some extent. If both lost their jobs and didn't adjust lifestyles* then they'd both be broke pretty quickly. The one saving 10k would last a little longer.
*note that I did say
months you can sustain your lifestyle without working
@idonotknowwhy: What if your lifestyle was as a homeless person and all you needed was Centrelink. If that person has a years Centrelink payments say 15k then calling them rich or wealthy would be silly. There is a flaw in your definition.
There is a flaw in your definition.
Well firstly; yes, you can find edge-cases which break down this model. I wish I could take credit for it, but I'm really not that clever. From memory, I think I first heard about this definition in this book
I would argue that there are a lot more flaws in defining rich as "earns an above average salary"
What if your lifestyle was as a homeless person and all you needed was Centrelink.
If that person has a years Centrelink payments say 15k then calling them rich or wealthy would be silly.You're assuming centrelink will exist for the rest of the person's life (granted; given life expectancy of the homeless, that's not a stretch)
Look, while this definition isn't perfect, it probably applies to the majority of Ozbargainers, and would certainly apply to someone with your income.
You're obviously not satisfied with your current strategy (purchasing junk to gratify impulses) but there are less destructive ways to remain content :)@idonotknowwhy: The point I'm making is that the homeless person will be rich for that one year just by following the criteria you give. By the same token a mil in Sydney is not the same as a mil in Wagga because of the high COL. I chose a mil because it can through off a risk free return of about 50k pa which goes a long way in Vietnam or South America. As a metric it's superior to your due to the homeless person example.
I sustained my lifestyle in Sydney on 63k plus super and managed to save 400 a wee for 5 years. Am currently living the same lifestyle so apart not buying supermarket reduced meat that often I'm not living large and sustaining this lifestyle is not an issue.
By the way that book is inherently flawed as it fails to take into account survivorship bias. Go and read the Black Swan for an interesting take on this.
Not Rich but questioning rampant consumerism. Do you really need more crap?
Why don't you donate some to people who need it
I do, through taxes. I pay just under a grand in taxes a week.
Great reply!
It sounds like a lot but I've been to countries where no one pays taxes and am happy to fund civilisation. We're very lucky in Australia.
Not sure how this post is a brag.
So far I've learnt OP earns a modestly above average full-time wage. I've also learnt that the OP can't write or spell. That makes the wage more impressive and narrows the possible career choices.Correct. However you don't need to necessarily be able to spell to earn big bucks. Just impress the right people that you're capable and then milk the situation for all it worth.
Very true.
thinking about all those retailers going into administration and the PM urging people to buy stuff.
You could always buy stuff for those less fortunate.
Could go to charity for kids and go out and buy bunch of toys for them.
Could go buy a few computers, gift them to underprivileged children/teens.and 13 pair of shoes in my closet that I've never worn.
Could go buy some decent shoes for some kids/teens from very poor families. Maybe ask around at charities or call principals in lower socioeconomic areas, and ask what they need. Maybe some kids that were unable to afford bring your own device.
Plenty of ways you can buy stuff, and stimulate economy, without adding to your clutter
Time to get married and having kids? You will buy more stuffs for partner and baby. Boosting population and economy.
It used to be Social media that stimulated me with enough dopamines to pass time / make life interesting. Once I out grew or lost interested in that, It was hard to get those dopamine doses, thus life turned dark. But, when one door closes another opens. Ozbargaining and finding new stuff and then buying it is the thing for me now. When I save $25 on a $400 item that I never knew existed or wanted gives me good amount that hormone to go through a day. FML
Nice choice of username.
Don't do this though. The same thing will happen. The duration of satisfaction decreases the longer you do this. Similar thing happens to those people you see are work drinking 8 cups of coffee, or constantly snacking on junk food (and overweight).
Hey Icecold and amazonaddict, why not buy units of this with your disposable income (instead of consumer electronics):
https://www.vanguardinvestments.com.au/retail/ret/investment…
You can accumulate units of this (without worrying about the price) at the same frequency you've been accumulating soon-to-be rubbish, without having you find space around the house to store it all.
Maybe after a decade or 2, you'll be able to quit your job and do the travel you don't have time for now.
I’m all in cash at the moment and have been for about a year. My super has a vanguard option so have been looking at that. On a sadder note John Bogle died on Wednesday so hopefully his legacy will live on.
On a sadder note John Bogle died on Wednesday so hopefully his legacy will live on.
Yeah, I was aware. It' very sad, but he lived a long life (despite 2 heart transplants, one when he was 30) and left a huge legacy.
I was about to buy a unit until I saw the -2.18 YTD loss
Yeah, I wouldn't invest in something just because Idonotknowwhy says to lol. Good on you for looking at the ytd first.
2.2% isn't bad for the last year if you compare it with other investments (Australian property, ASX:VAS, ASX:VTS. Certainty better than spending or on depreciating electronics on OzBargain.
I recommend that particular fund because it's got a mix of bonds, Australian shares and international shares. I personally have a similar portfolio target but am taking on a bigger risk (I have a pretty big percentage invested in emerging markets via ASX:VGE)
You'd need to buy more than a single unit of this. Most platforms have a minimum trade of $500. I tend to wait until I have at least $1000, usually $2000 ready add the $10 brokerage fee would be a pretty decent percentage of anything less.
One more thing to note, you don't want to buy into a market which is on a bull run (eg. +8% YTD)
I'm pretty much in same boat as you. Got everything I'm happy with cruise around shops and don't really see anything I want or need.
I really can't see any major purchases from me for many years a at the moment so the government won't be happy with me for a while lolYeah I see it all the time here. People get amped up by others about stuff they didn't even know about let alone need prior to clicking on the comments sections of a front page bargain. My life fine without out so I can't justify buying 99% of stuff posted here. The one thing I do buy a lot of is books which I never get the time to read properly. I most likely different from most here who love their little toys and tech.
Don’t worry it’s just a phase,it will start again.
does anyone know how much op clears per week? that would make this thread much clearer.
1900 a week net after taxes. Haven’t gone crazy yet.
well below the $300k annual ozbargain user average then
😔
Invest buddy for the future times may not always be so kind to you
You need a dream. People fall into the trap of thinking that stuff gives them purpose. No. YOU decide the purpose, YOU take on the mission, and then you get stuff to accomplish it. More stuff than you need just gets in the way.
Yeah, I’ve discovered this. If you’re not a consumerist in the first place then swapping your time for money may not necessarily be a good idea
I haven't bought crap for more than 6 months.In fact I hardly buy anything other than essentials these days. So you are not alone
You might have reached peak stuff, but the rest of us schlubbs need to accumulate wealth before we can spend it on shoes.
Shoes are pretty cheap. I got a couple pairs of Clarks here for 40 bucks each.
Err…. Great? Is there no one else you can talk to about this?
Maybe its the wrong place. Like asking orgy participants how to cure ones sex addiction.
once you have the ozbargain essentials, you're pretty set.
I've stopped buying stuff. But it's more because I don't want a mortgage. So while interest rates are low I'm smashing out every penny on the loan.
I thought that there was a certain degree of irony in having the PM beg Aussies to spend money to support the crumbling retailers, and also advising millennials/first-home-buyers to skip the avo on toast and avoid unnecessary spending to save up a house deposit. As a result,
1. Millenials are not spending in order to save up a deposit, in spite of their gig economy low-paid employment
2. Aging boomers (huge part of the population) are moving into retirement/pensions and thus reducing unnecessary spending as they adjust to a fixed income
3. New immigrants are finding their feet economically/gig-employment and not spending
4. Middle-aged homeowners are finding that it's more difficult to refinance their existing mortgages to upgrade their properties and are being told to cut up their credit cards and reduce spending while the banks question their takeaway food spending.
PM can't have it both ways - he wants us to somehow spend flagrantly and save frugally at the same time!As for Peak Stuff - we've just upgraded all necessary gadgets as frugally as possible and I'm actually relieved that we don't need to spend any more money on major things for a year or two at least.
"I was thinking about all those retailers going into administration and the PM urging people to buy stuff."
It's pretty clear that the economy isn't doing so well, falling house prices are shaking confidence, households have very high levels of debt, wages are flat or falling
I reckon people still want stuff, they're just struggling to afford it.
"I reckon people still want stuff, they're just struggling to afford it."
Agree. When rents/mortgage payments are taking up a larger and larger percentage of disposable income, a lot less is available to afford the fancy brand-name stuff inside the crumbling retailers' shops.
I agree when it comes to tech stuff. I'd say for the past 4 or 5 years the new phones don't have any new features that add much value compared to what I have now. A colleague would upgrade his iPhone every year, the last being because it had a slightly better camera.
Maybe I'm just getting old too but now I spend most of my spare money on things around the house. I practically live at Bunnings.
Probably the most uneducated thread title I have seen: "have we reached peak stuff" what the actual (profanity)
op is obviously delusional, earns 1900 a week after tax, has 1 mil in savings and claims he is poor? Either you're out of touch from reality
People I have worked with for many years who earn 150+ are in debt and always complaining about being poor
You have obviously done well somewhere or inherited something on the way. Not sure of your age though
I don't have a mil in savings. What I said was having a mil in cash would be what I considered rich (in Sydney). I have also said this is a unsustainable job in the long run so won't be earning 1900 a week for the rest of my life at all. I live a lifestyle that is not commensurate with my current income and it has not changed since when I was on 63k pa.
I think Retail is the main barometer of economy activity. It also employs most people in Aus.
If that sector collapses, you can be certain recession will ensue and will last as long as people are beginning to feel confident to spend.
People are clearly fearful of their job which reflects in lower consumer confidence which in turns leads to lower propensity to spend.
Harder access to credit play a part as well as do mortgage accessibility issues.
This is well said I think.
Tightening of mortgage lending requirements restricts potential buyers from accessing easy credit, and so I’d imagine that those people would restrict their impulse, and recreational spending in order to build a better credit history, and cash reserves in order to meet more stringent demands.
Similarly, if the retail sector is slowing, I’d also consider it is indicating lower consumer confidence in utilising credit cards, and a willingness to seek greater savings.
Then again, it’s also worth noting that businesses sometimes have poor management, are unable to adapt to changing consumer spending trends, or even just plainly don’t stock products consumers are jonesing for. IMO, both Roger David, and Ed Harry, two clothing retailers who recently went defunct, didn’t cater to the changing landscape of retail, and also stocked largely uninspiring products that were largely overpriced, but of course others may disagree, however I suspect that this played a significant part in their demise, rather than necessarily signalling the beginning of a potential recession.
buy lotto every week then
time poor. i feel sorry for you. obviously the materials own you not the other way around. hopefully you will understand this.
You know all that overpriced real estate that an entire generation has been forced to pay for?
That money has to come from somewhere.Retail will suffer while the mortgages get paid.
The other issue will be when/if the real estate market collapses, and folks are paying mid-million dollar loans for shoe box allotments with now old houses that were never built to last anyway, and end up stuck in perpetual financial slavery with loans they can never realistically repay through refinancing or selling. Do people really think the prices being charged now for building actually represents the quality of the homes being constructed?
I shudder to think of the countless folks who will be royally at the mercy of large finance if interest rates increase to a significant degree, and there are waves of loan defaults.
For your financial matters go speak to a financial planner or a trusted personal accountant. Your goal of 1m in cash is not the wisest goal if it's the only goal. 1m depending on your age may not be enough.
As for stuff to buy,I think it's a little to do with age mixed with being fortunate financial in life. Find a hobby that you enjoy and you will find you will buy stuff to support that hobby/passion.
Too much stuff just weighs you down.
Less (but well chosen) stuff gives you more space and more time.
Invest your surplus cash.
Well said.
I think you meant to post on OZBRAGIN.com.au
Huh?
20 years ago, we had CRTs
15 years ago, we had 720p LCDs with a single fluro backlight, 32 inches, heaps of dead pixels, poor lifespan, 20ms update time, 50Hz, and 500:1 contrast ratio
10 years ago, we had 1080p LCDs with a grid of LEDs (all wired in parallel) as a backlight (these were marketed as "LED" displays)
5 years ago - now, we got 4k LCDs with local dimming on the LED backlight array, no dead pixels, 75 inches, 4ms update, 200Hz, 5000:1 contrast, HDR
We also have OLED displays that roll up or stick flat like a poster on the wall (they still cost as much as a car, but this may decrease).
Proper white LEDs (without phosphors) at a reasonable production cost (GaN on Si) was only discovered in 2013. High-CRI white LEDs are a relatively recent thing and are getting better/cheaper.
Sure, we've had diodes that glow in 3 colours for maybe 25 years now, but the technology continues to make significant improvements. I'm not sure what kind of improvement you expect to see. No amount of LED research will turn them into a gravity warp time-travel device…