Good day, Steem!
Today I am mulling over a discussion we had last night. The discussion involves the Dave Ramsey versus Robert Kyosaki, Saving versus Investing, Grapes of Wrath versus Max Lucado dilemma.
I have, in my young life, had to cash out of several retirements, once for a divorce, once to pay off our mortgage (we decided this was a great decision and enabled greater freedom), and once for a medical issue. In short, I have blown it several times financially despite being taught better. But we live one hundred percent debt free and are healthy and quite content.
I have a recent paradigm shift that has led me down the path of deciding: do we acquire more wealth and change our lifestyle to accommodate making more money - or do we simply get rid of the junk that we have, continue to downsize, and change our standard of living? By all means, if we lived with one third of what we have, our life would not noticeably change.
There is the legacy issue, too. Do we give our children a living will and estate full of useless stuff? Or do we give them a legacy of debt-free living? Or do we downsize, pile up money (that can be put to work to build a legacy that lasts longer than us, our kids and our stupid money) and hand that off?
I grew up in a Midwest US middle class farm family, around grandparents (now also in-laws) who saved everything and kept everything and the feeling that gives me is a dysfunctional asphyxiation! They are not loaded with wealth. They all just have collected a bunch of crud that now NO ONE wants. Not even their properties (which require a ton of work!).
I find myself slipping more and more into the minimalist category and understanding better what it means to travel light. Less stuff, even less money, gives us more time to be TOGETHER instead of bean counting or dusting junk; less stuff enables us to take much better care of our minds and bodies. And less stuff means any excess is much easier to simply give away.
I don't want to be so fixated on this, but I also want to see us enjoy life more. To me, that seems like owning one hundred items, doing away with so much, and spending my moments connecting and building a legacy and serving in really big ways.
A paradigm shift whether we have a lot, a little or nothing at all.
Any thoughts? Advice? Psychological tools? Crafty solutions?
Hi, great post! I've thought over the issue of inheritance as well. Financial goals, financial obstacles, and balancing health and wealth.
I truly believe wealth is health. You need money to stay healthy(depending on your environment). I know this because I embarked on a journey of physical soundness but was forced to stop because I literally could not afford to buy enough food! Hard times challenge your values, your beliefs, everything. You have to be practical. But there are pros and cons to any path taken. What makes sense is that you live according to what will give you less regrets. Whether you change your standard of living or your lifestyle has to align with what makes you happy.
Your legacy is what you want to be remembered for. Can your kids manage large estates and fortunes? Can they live with getting nothing at all? Can they handle lots of money? I'm sure you as I would raise our children with a head for intelligent use of money but what do they want? What are their values? Understanding this will help you accommodate them for when you gracefully transition life. I have no children myself. But it is something discussed with my S.O. I would want to leave them something useful that could reliably benefit their children along with their own legacy. A compunding inheritance if you will.
I would prefer to leave my child knowledge above all else and any wealthy but burdensome assets to be given to a friend who would know what to do with it or to benefit society. I believe less is more, is liberating. I personally seek to aquire assets and wealth to achieve specific goals not simply to have them. If relenquishing your possessions is in line with your desires over the long term, pursue it with tenacity. You at the very least won't regret it. I hope these thoughts are of aid in your journey friend!
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Great response! Health is wealth and wealth is health. A twofer! I am going to think and respond - it may be a bit. Thank you!
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Happy to discuss finance and values of life anytime!
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