Thursday, June 17, 2010

Comfort Limits Wealth ?

I recently bought another toy... A 2001 Kawasaki STS 900cc jet ski...

As I researched jet skis, I learned that the basic new version of what I wanted would cost me ~$8,000 after tax and license. And man they looked so nice in the showroom. However after noticing that the typical jet ski seems to clock <20 engine hours per year, there was no way I could part with that extra $5,400 in cash.

This event and some others have had me thinking. Is the fact that I was raised in a conservative upper middle class home a key factor in that I will never be rich and surrounded with the real "nice, new, shiny, in style, etc" things?

I mean, why would I ever strive for that level of wealth, prestige, etc when I have most of the things I really want. What would create that hunger, that willingness to sacrifice my comfort, the willingness be away from my family, work long days, etc? What would make me strive for the newest gadget, that biggest home, that newest decor, etc. So:
  • Is good the enemy of great?
  • Is middle class a deterrent to wealth?
  • Is poverty a promoter of wealth?
  • Or does it mean I have a very well balanced life and should keep up the good work?
Here is an article for your consideration. Thoughts?

MSN Rags to World's Richest

2 comments:

John said...

Since no one else is chiming in, I'll do a little further self analysis / brain storming. What are ways I could raise my household income to afford "the good stuff"?

- Additional education (ie degree, certifications, etc)
- Start a business on the side
- Start a full time business
- Begin a job search for a higher level position (in town)
- Begin a job search for a higher level position (relocate)
- Become an active investor instead of a couch potato investor
- Buy rental property and become a landlord

As I have hinted at before, I would like to get a certification of some sort in professional or personal coaching. My hope is that could be a good part time job and a great retirement/2nd career job. Besides I could share somewhat I have learned, so others could avoid some of the challenges I faced.

The challenge is where would the time come from... Reduced work time? Reduced family time? Reduced me time?

John said...

Oh I forgot to ask...

Any other ideas? And no I am not interested in Amway...