Re: evaluating the cost of building
Several years ago I read an article called "Die Broke" in WORTH
magazine. The premise was that rather than pass on money to your
heirs, use the money while you are alive to the benefit of yourself
and your family. The author argues that since our life expectancy is
usually in the late 70's or 80's, your children will inherit your
estate in their 60's. He suggests instead using some of the money
earlier in life say to buy a summer home for family gatherings, lend
money to a child in their 30's to start a business, things like
that. He wanted to introduce the idea of putting money to use during
your life rather than passing on a big nest egg. Die broke (not in
debt) instead of dying rich.
Just another perspective on life choices.
Mike
magazine. The premise was that rather than pass on money to your
heirs, use the money while you are alive to the benefit of yourself
and your family. The author argues that since our life expectancy is
usually in the late 70's or 80's, your children will inherit your
estate in their 60's. He suggests instead using some of the money
earlier in life say to buy a summer home for family gatherings, lend
money to a child in their 30's to start a business, things like
that. He wanted to introduce the idea of putting money to use during
your life rather than passing on a big nest egg. Die broke (not in
debt) instead of dying rich.
Just another perspective on life choices.
Mike
--- In bolger@y..., "sneakeasy2000" <sneakeasy2000@y...> wrote:
> I like the way you think Mike! It reminds me of an old beer
> commercial...Grab all the gusto you can!! And that means NOW!
>
> Steve Bosquette
>
I like the way you think Mike! It reminds me of an old beer
commercial...Grab all the gusto you can!! And that means NOW!
Steve Bosquette
commercial...Grab all the gusto you can!! And that means NOW!
Steve Bosquette
--- In bolger@y..., "mikestockstill" <mkstocks@b...> wrote:
> As you try and decide the cost of building a boat, do not forget to
> include the costs of NOT building the boat.
>
> For me personally, looking back some day and saying "I had to eat
> macroni and cheese for a year so that I could afford to build my
> boat" sounds much better than "In hindsight, I wish that I had
> undertaken the adventure and built the boat..."
>
> If I have to pump gas a few days a week during my retirement as a
> result of chasing a dream in my prime, then so be it.
>
> You might also find while living on a boat that you can get by on a
> lot less than you might have thought.
>
> And none of this takes into account the value of the memories made
by
> adventure. Would you rather pass on money to your heirs when you
> die, or good times with them while you are alive.
>
> My perspective.
>
> Mike
As you try and decide the cost of building a boat, do not forget to
include the costs of NOT building the boat.
For me personally, looking back some day and saying "I had to eat
macroni and cheese for a year so that I could afford to build my
boat" sounds much better than "In hindsight, I wish that I had
undertaken the adventure and built the boat..."
If I have to pump gas a few days a week during my retirement as a
result of chasing a dream in my prime, then so be it.
You might also find while living on a boat that you can get by on a
lot less than you might have thought.
And none of this takes into account the value of the memories made by
adventure. Would you rather pass on money to your heirs when you
die, or good times with them while you are alive.
My perspective.
Mike
include the costs of NOT building the boat.
For me personally, looking back some day and saying "I had to eat
macroni and cheese for a year so that I could afford to build my
boat" sounds much better than "In hindsight, I wish that I had
undertaken the adventure and built the boat..."
If I have to pump gas a few days a week during my retirement as a
result of chasing a dream in my prime, then so be it.
You might also find while living on a boat that you can get by on a
lot less than you might have thought.
And none of this takes into account the value of the memories made by
adventure. Would you rather pass on money to your heirs when you
die, or good times with them while you are alive.
My perspective.
Mike