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To me time is money and the time he spends doing these types of things would be better spent doing productive things. You get rich so you can live a life in pleasure, not do menial tasks, right?
Picking up on uptown's point....you've got two different points there....
1) yes Time is money....but...
2) if this person is wealthy he can clearly afford to pay people to do the things you mention yet chooses not to, so...... he clearly doesn't have to use the time he spends doing those things on efforts to make more money, which no doubt he does with other parts of his time, when he's not doing chores
IF, IF he were not wealthy, and was doing chores that took him weeks to do -- using up time that was better spent making more than enough money to pay others --and have money left to build wealth then perhaps your point would be better made.
I enjoy mowing my lawn with the new zero turn. Would cost me $80-$120 a week in the summer. I get it done in the evening in a half hour.
I could pay to have the snow plowed, but find more satisfaction snow blowing it. I have the time, and IMO (60$ for a in and out) they charge too much for my driveway, and it's guaranteed they'll make a mess or push a couple railroad ties that I'd then have to pay to fix yearly.
Got quoted $1000 for installing a pellet stove. Did it with my dad in an hour for $60. Septic pipe broke, three hours with a friend saved me $1000.
IMO, contractors where I live have priced themselves out of any work I need done, especially since I have the ability to do most of it myself. Only service I use routinely is cleaning the house, because I found someone who doesn't charge $25/hr using my stuff. I'm a value centered person, most of my income is passive so I have free time ATM.
Last edited by LordSquidworth; 12-15-2012 at 11:37 AM..
Some people just like doing things for themselves. Back when I was just scraping by I got a set of Time/Life books and taught myself how to do a bunch of different things. I have saved myself a small fortune over the years being able to fix almost anything that would go wrong on my house. Eventually I started doing work for other people too, but I would send subcontractors to do the work and I would just oversee it. Even though I have all these subs at my disposal I still do the work on my own house. I just prefer it that way.
I am curious... What are the ages of the people who have plenty of money but still do things themselves (I am 54)
and what are the ages of those of you who think it is odd that we would "waste our time" doing these things?
I am betting that the first group is around 50 and up and the second group is 30's and below. The 40's is probably evenly split, depending on how you were raised.
Also, let's keep in mind the kinds of chores or household jobs where talking about....
If we're talking about yard work, that's something the person may like to do for whatever reason, that's one thing. There are even some guys who, to this day like working on their own cars. They like doing it, are very particular about it, and so, they do it
It's not like the person is a one man band doing major home repairs, remodeling a kitchen or finishing his own basement that's going to take months of him doing it by himself on weekends to save money...when a crew could have come in and been done in a few days.
Clearly in these kinds of cases it's not about the money.
I am curious... What are the ages of the people who have plenty of money but still do things themselves (I am 54).
I'm 23. I'm not wealthy for a 54 year old, but for a 23 year old, yes. A cosigner helped me get a loan for a house where I rent out the spare bedrooms which bring in more than the average income in America. I've also taken advantage of the stock market since I was 18.
With my car paid off and still being a student, my expenses are not much.
Quote:
Originally Posted by selhars
Also, let's keep in mind the kinds of chores or household jobs where talking about....
If we're talking about yard work, that's something the person may like to do for whatever reason, that's one thing. There are even some guys who, to this day like working on their own cars. They like doing it, are very particular about it, and so, they do it
It's not like the person is a one man band doing major home repairs, remodeling a kitchen or finishing his own basement that's going to take months of him doing it by himself on weekends to save money...when a crew could have come in and been done in a few days.
Clearly in these kinds of cases it's not about the money.
One thing I've noticed about older folks, is after they retire, they develop their routines. It's those routines that keep them going. I've seen older people doing really well, that within weeks of losing their routines, pass on.
There is one thing I did not see mentioned on this thread. My husband and my mother do not like the idea of strangers being in their homes. Home is a haven of safety. How many robberies, killings, etc. come from hired help? You see it on the news all the time.
My mother lived two hours away, but preferred that her children come help her. I suggested getting a maid and you would have thought I was public enemy number one. How dare I suggest that she have a stranger come inside her home to clean?
[quote=LordSquidworth;27366878]I'm 23. I'm not wealthy for a 54 year old, but for a 23 year old, yes. A cosigner helped me get a loan for a house where I rent out the spare bedrooms which bring in more than the average income in America. I've also taken advantage of the stock market since I was 18.
With my car paid off and still being a student, my expenses are not much. QUOTE]
You are by far the Exception, not the rule! Aside from my own son (who had the lesson drilled into him by the time he started working) most people your age don't think long-term like you do. Kudos! Keep it up and you will be retiring as early as you want to.
BTW, there is no better way to get there than through real estate. When I was around your age I bought my first house, fixed itup and sold it two years later for twice the price. I used to move every two or three years for a long time. Now, if it is your primary residence you don't even have to pay taxes on the profit. Do that a few times, plus buy a few cheap houses as rentals, and you will be in great shape.
What are the ages of the people who have plenty of money but still do things themselves
My dad is wealthy and at 82 still remains active around the house...anything that needs to be done, built, mowed, raked, doesn't matter.
Why so many topics regarding other peoples money, how they made it. kept it, what they do with, and/or what they should do with it?...it's theirs
Seems ya can't turn on the news anymore without hearing a sound bite regarding the wealthy...or the "filthy rich"...and how John Q public or the gov need to get their "fair share" of it...it isn't theirs to take
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