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Old 04-21-2010, 05:35 PM   #101
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True.

I'd add that think it's silly for people to criticize someone's spending when they can very easily afford it *and* it enhances their quality of life. We're not all wired to value the same things or to all find the same things "wasteful" and "frivolous."

To one person, eating out a few times a week may not add much enjoyment to life and to them, it therefore seems wasteful and spendthrift even if they could afford it. For some people it adds a lot to enjoyment of life. Beyond a certain level of thrift, refusing to spend on things you enjoy even though you can very easily afford it goes beyond frugal and begins to approach miserly.

One can live well below their means and still have discretionary spending that others would consider "wasteful." Still, I tend to follow the Dave Ramsey philosophy on this one -- there's nothing wrong with spending in and of itself; there's something wrong with spending you can't afford. And if someone can very easily afford a second home (even if vacant 85% of the time) and it improves their quality of life, more power to them. But yeah, it's not something I would call "thrifty" or "frugal."

Living below your means shouldn't have to mean "living as far as possible below your means," not unless that's what someone happens to value.
A good post Ziggy. I'm sure many here would find some of my spending wasteful (I recently posted on my costly wine habit), but I have been fortunate enough to have reached a position in life where I can afford it.

I have tried to live my life by the precept that "you shouldn't own anything that you don't either know to be useful or believe to be beautiful". Keeping that in mind has saved me from buying a lot of useless crap to clutter up the house.

I also extend the precept to experiences. I try to spend money only on activities, like vacations, that will relax me, educate me or otherwise benefit me in some way. I have seen way too many people doing things just because they thought they should, without seeming to derive any real enjoyment from their activity.


Obviously, some people may find that a second vacation home enhances their life enough to be worth spending money on it. The young wife and I haven't ever felt the need even for a first vacation home, but I fully support those who can afford it and think that having one will enrich their lives.
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Old 04-21-2010, 07:24 PM   #102
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What about Buffet? I think he display the LBYM attitude much better than Gates.
I agree.
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Old 04-21-2010, 07:26 PM   #103
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Any well off person in the US is giving plenty to a mandatory charity with bloated administrative costs- the US Government. Her rate of giving is soon to increase markedly also.

Ha
As I am being terse, I'll continue and say that I disagree that "any well off person is giving plenty" in taxes.
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Old 04-21-2010, 07:27 PM   #104
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yeah.... why does he NEED to own all those companies? Wouldn't it be better (and more moral ) for him to own just one, and LBYM on his billions?
He can own all the companies he wants. I just think that huge success comes with huge responsibility which AFAIK he takes seriously.
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Old 04-21-2010, 07:48 PM   #105
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I think at a certain level, owning property is much more satisfying than having a larger portfolio and it represents a store of value in normal times.
I agree. There's something "real" about real estate, which is why it now comprises a significant chunk of my NW. However, I have only one vacation home; the rest is income property. The vacation home is rented when I am not there. It's all working for me.
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Old 04-22-2010, 06:32 AM   #106
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Still there is something to be said for arriving at your vacation place with your clothes in the closet and you cars in the garage.
It's still the same view looking out the window. Much too boring for us ...

We look at our trips (no longer vacation, since I'm retired) as "adventures". We don't want to sit on a rocking chair and just take it easy (we could do that in our home)...

Anyway, our trips take us outside the US (along with one trip per year in the US) every year. Just an example, last June we spent a month "down under", snorkeling the Great Barrier Reef, spending time in the Outback (yes, hiking around Uluru) plus the big city pleasures of Sydney - plus many more places on the continent. This June we're on a Baltic cruise (England, Norway, Russia, etc.) When we return, DW is off with her "travel buddy" (another woman that she travels with when I decide not to go) on two trips in the early fall. One to Canyonlands/Vegas (no, I don't ask) and the month after on a Nile River cruise for two weeks.

Not to impress anybody at all; just to show that we're not (and haven't been for at the last 15+ years) happy with going to the same place on our journies, both before and after retirement. Again, a "second" (or third, or fourth...) home would not fit our lifestyle...

As for others? Fine.
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Old 04-22-2010, 04:50 PM   #107
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Having vacation homes doesn't preclude travel. We are out of the country this year 72 days-US, Mexico, Carribean, Italy, Turkey, and Thailand planned and booked, or done. Not including our own places. We are not bored.
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Old 04-22-2010, 05:17 PM   #108
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OK, I'll say it. I think this thread has turned into more of a bragfest than an actual discussion.

Flame away.
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Old 04-22-2010, 08:27 PM   #109
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OK, I'll say it. I think this thread has turned into more of a bragfest than an actual discussion.

Flame away.
OK, I don't have a first vacation home much less a second vacation home, and not only that - - I have no travel plans whatsoever! So there. Does that help?
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Old 04-22-2010, 09:44 PM   #110
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OK, I'll say it. I think this thread has turned into more of a bragfest than an actual discussion.
I'm going camping in 3 weeks, and I'm going to sleep in an 8-man tent by myself. On an inflatable air mattress. Doesn't get much better than that.
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Old 04-22-2010, 09:46 PM   #111
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I'm going camping in 3 weeks, and I'm going to sleep in an 8-man tent by myself. On an inflatable air mattress. Doesn't get much better than that.
You only have one tent?
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Old 04-22-2010, 09:48 PM   #112
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I keep the porta-potty in the small one.
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Old 04-22-2010, 09:53 PM   #113
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I'm going camping in 3 weeks, and I'm going to sleep in an 8-man tent by myself.
That's wasteful. Can't you find some homeless campers to share with?
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Old 04-22-2010, 10:00 PM   #114
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Take that tent on a few international vacations every year and rent it out when you get there!
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Old 04-22-2010, 10:37 PM   #115
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OK, I don't have a first vacation home much less a second vacation home, and not only that - - I have no travel plans whatsoever! So there. Does that help?
So, taking an interstate joy ride in a new car over several days does not count as "travel" ?
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Old 04-22-2010, 11:12 PM   #116
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I keep the porta-potty in the small one.

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It's still the same view looking out the window. Much too boring for us ...
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Old 04-22-2010, 11:29 PM   #117
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So, taking an interstate joy ride in a new car over several days does not count as "travel" ?
Hey, I said that I didn't have any travel plans... not that I hadn't ever traveled.
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Old 04-22-2010, 11:31 PM   #118
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Hey, I said that I didn't have any travel plans... not that I hadn't ever traveled.
Life is what happens to us while we are busy making plans...
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Old 04-22-2010, 11:42 PM   #119
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There is always the possibility that I might travel north a few hundred miles this summer if a strong hurricane approaches New Orleans. I have no definite travel plans, though.

Life seems to throw plenty of travel my way, even when I don't plan for it!
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Old 04-23-2010, 06:40 AM   #120
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Heck, I wear junky old T shirts while relaxing in my weekend home.
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