Buy cars, enjoy life versus delayed gratification
Discussion
Hi all,
I’ve been thinking a lot recently, possibly because I’m in my mid 40s and doing some soul-searching. I love cars and working on them and driving them and the freedom they give you but it is an expensive hobby even if you are earning a reasonable amount.
So I’m just wondering as per The topic heading what the people of pistonheads do. Are you of the you only live once tribe and go to hell for leather on your passion, possibly to the detriment of your pension should you make it that far? Or are you more sensible? Or somewhere in between which I guess a lot of people will be. There are a lot of cars I want to own and I have always had The modification bug, which obviously costs more all around but I do like to make a car feel like my own and make it more suitable for the roads that I drive on.
Where do people land on this?
I’ve been thinking a lot recently, possibly because I’m in my mid 40s and doing some soul-searching. I love cars and working on them and driving them and the freedom they give you but it is an expensive hobby even if you are earning a reasonable amount.
So I’m just wondering as per The topic heading what the people of pistonheads do. Are you of the you only live once tribe and go to hell for leather on your passion, possibly to the detriment of your pension should you make it that far? Or are you more sensible? Or somewhere in between which I guess a lot of people will be. There are a lot of cars I want to own and I have always had The modification bug, which obviously costs more all around but I do like to make a car feel like my own and make it more suitable for the roads that I drive on.
Where do people land on this?
freenote said:
Hi all,
I ve been thinking a lot recently, possibly because I m in my mid 40s and doing some soul-searching. I love cars and working on them and driving them and the freedom they give you but it is an expensive hobby even if you are earning a reasonable amount.
So I m just wondering as per The topic heading what the people of pistonheads do. Are you of the you only live once tribe and go to hell for leather on your passion, possibly to the detriment of your pension should you make it that far? Or are you more sensible? Or somewhere in between which I guess a lot of people will be. There are a lot of cars I want to own and I have always had The modification bug, which obviously costs more all around but I do like to make a car feel like my own and make it more suitable for the roads that I drive on.
Where do people land on this?
I am pretty conservative with money, but about two years ago, I decided to go ahead and buy the cars I wanted to own, rather than opting for something more financially responsible. I probably have about 90k tied up in cars, which is financially stupid, but I have never been happier in my motoring life. I ve been thinking a lot recently, possibly because I m in my mid 40s and doing some soul-searching. I love cars and working on them and driving them and the freedom they give you but it is an expensive hobby even if you are earning a reasonable amount.
So I m just wondering as per The topic heading what the people of pistonheads do. Are you of the you only live once tribe and go to hell for leather on your passion, possibly to the detriment of your pension should you make it that far? Or are you more sensible? Or somewhere in between which I guess a lot of people will be. There are a lot of cars I want to own and I have always had The modification bug, which obviously costs more all around but I do like to make a car feel like my own and make it more suitable for the roads that I drive on.
Where do people land on this?
Would only do this if you can afford it though. You can obviously ruin yourself financially with a couple of bad choices, and cars don't have to be expensive to be enjoyable.
AlexIT said:
I try to find a middle ground: what's the point of giving up all gratification? It must be balanced with the income, but no way I will just work for my pension (and there's no guarantee I'm going to make it till then).
I see from your profile that you’re in Italy. How easy is it to own and modify cars out there? I’m seriously considering moving abroad but I worry about you legislation on making any changes to your car.I'm a bit of both.
I have seen a relative of mine work hard, spend little and save and invest in pensions, only to die a year after retiring. Other relatives have saved money and invested, only to realise that in older age and declining health (70, 80, 90 years old), they can't actually spend the money on doing the things they wanted to do in their 30s, 40s and 50s.
My wife unfortunately has stage 4 terminal cancer - she's 36 - and we have a 4 year old son. Whether it's her situation and the above experiences, but I'm more in the camp of spend and enjoy today, whilst having enough to live a comfortable, if not exciting life when I'm hopefully in my 80s. I suppose that's a middle ground between the two options. I have a pension and investments, but at the same time, I spend money on cars and enjoy them - I'm not bothered by depreciation as the fun and life experiences I get from them (whilst young enough to enjoy) far out weighs the monetary costs.
I have seen a relative of mine work hard, spend little and save and invest in pensions, only to die a year after retiring. Other relatives have saved money and invested, only to realise that in older age and declining health (70, 80, 90 years old), they can't actually spend the money on doing the things they wanted to do in their 30s, 40s and 50s.
My wife unfortunately has stage 4 terminal cancer - she's 36 - and we have a 4 year old son. Whether it's her situation and the above experiences, but I'm more in the camp of spend and enjoy today, whilst having enough to live a comfortable, if not exciting life when I'm hopefully in my 80s. I suppose that's a middle ground between the two options. I have a pension and investments, but at the same time, I spend money on cars and enjoy them - I'm not bothered by depreciation as the fun and life experiences I get from them (whilst young enough to enjoy) far out weighs the monetary costs.
I was 55 this week and it does make you realise its a trade off between time left, doing stuff and money.
I am pretty fit and active but that isnt guaranteed forever, a mate of mine is laid up waiting for a bypass, another chap I know has just been diagnosed with cancer.
So, your mindset changes along with your situation, I spent a ridiculous amount of money (for me, not by PH standards) on a watch because I wanted it, whats the point in waiting ? I suspect at 70 I will be pretty wealthy, so will have more money but much less time.
Its not always just time, not being around is one thing, but being around and not able to do anything is much worse, can get that Exige or whatever but you dont bend anymore so cant get in or out of it.
Kids are grown up and largely self sufficient, no debts so need to crack on and do stuff, track day the other week, go carting as mentioned, few days away last week and am about to book a flight in an aerobatic plane.
Will get another car in a year or two, currently enjoying a Jaguar XJ but not planning on sticking with one car for years, its all about experiencing different ones.
If only I could stop working, thats the main drag on my time, the best hours of the week spent inside looking at a bloody computer.
I am pretty fit and active but that isnt guaranteed forever, a mate of mine is laid up waiting for a bypass, another chap I know has just been diagnosed with cancer.
So, your mindset changes along with your situation, I spent a ridiculous amount of money (for me, not by PH standards) on a watch because I wanted it, whats the point in waiting ? I suspect at 70 I will be pretty wealthy, so will have more money but much less time.
Its not always just time, not being around is one thing, but being around and not able to do anything is much worse, can get that Exige or whatever but you dont bend anymore so cant get in or out of it.
Kids are grown up and largely self sufficient, no debts so need to crack on and do stuff, track day the other week, go carting as mentioned, few days away last week and am about to book a flight in an aerobatic plane.
Will get another car in a year or two, currently enjoying a Jaguar XJ but not planning on sticking with one car for years, its all about experiencing different ones.
If only I could stop working, thats the main drag on my time, the best hours of the week spent inside looking at a bloody computer.
Unreal said:
To the OP, are you single with no dependants or anyone in your life that you may need to take into account?
That's the biggest factor in doing what YOU want to do. More important than money in my experience.
Good question and has a bearing on me posting this honestly.That's the biggest factor in doing what YOU want to do. More important than money in my experience.
Divorced five years ago, it’s been quite a rough time emotionally and financially. No kids. Seeing somebody but not sure about long-term compatibility as I suffer quite badly from SAD so either want to move abroad permanently or split the year so I avoid winter here. I’m also quite concerned about the state of the country and how long I’ll be able to enjoy driving as I’m not interested in electric cars at all.
freenote said:
Unreal said:
To the OP, are you single with no dependants or anyone in your life that you may need to take into account?
That's the biggest factor in doing what YOU want to do. More important than money in my experience.
Good question and has a bearing on me posting this honestly.That's the biggest factor in doing what YOU want to do. More important than money in my experience.
Divorced five years ago, it s been quite a rough time emotionally and financially. No kids. Seeing somebody but not sure about long-term compatibility as I suffer quite badly from SAD so either want to move abroad permanently or split the year so I avoid winter here. I m also quite concerned about the state of the country and how long I ll be able to enjoy driving as I m not interested in electric cars at all.
There are positives here - you are thinking about what you can change to make yourself happier and it sounds as if you have options.
I identify with you in a couple of respects. This is a grim time of year with only worse to come if you suffer from SAD. I spend as much of the winter away as I can. On the relationship front, be careful you aren't accommodating what makes them happy at the expense of your happiness.
Unreal said:
Parents? Siblings?
There are positives here - you are thinking about what you can change to make yourself happier and it sounds as if you have options.
I identify with you in a couple of respects. This is a grim time of year with only worse to come if you suffer from SAD. I spend as much of the winter away as I can. On the relationship front, be careful you aren't accommodating what makes them happy at the expense of your happiness.
Very good point. One sibling in Spain, virtually no relationship with my father. Mother died when I was a child. I have a good select number of close friends.There are positives here - you are thinking about what you can change to make yourself happier and it sounds as if you have options.
I identify with you in a couple of respects. This is a grim time of year with only worse to come if you suffer from SAD. I spend as much of the winter away as I can. On the relationship front, be careful you aren't accommodating what makes them happy at the expense of your happiness.
I lost half of almost everything I worked for in my divorce because whilst being a high earner , she spent all her money whilst I was sensible and bought a property and saved money religiously. Fortunately, she didn’t get the business but I’m contemplating selling that and the property.
Its a balanced approach. In my mind, I need to be thinking about the future as well as enjoying life now.
As others have mentioned, I see, and am seeing plenty of people and peers seemingly hell-bent on pensions, paying off the mortgage, investing heavily, working all hours, with little time spent actually "enjoying" life.
Its good to have targets, but be realistic - what do you actually want/need.
These are mostly my friends, who are of similar age to me - 37.
We have all had a strong work ethic, all of us progressing since we started working around the age of 18, most of us working additional hours, saving hard in the early days in order to get onto the property ladder.
During our 20s, we didn't go out as much, didn't have as many holidays as others, drove older cars.etc - but meant we could buy ourselves a house.
This continued until I was around 35 - by which point I was married, had moved into a better house, had a child.etc
I'm now in a position where Im earning "enough" which is just above average, but I live a modest lifestyle whilst still being able to enjoy myself.
I'm afforded that by the fact I'm fortunate enough to have the skills to maintain my own cars / DIY on the house.etc
I don't have any outgoings other than the mortgage, no car payments, no credit card bills, no fancy trainers.etc
Its an expensive hobby keeping up with the Jones'
Yes, it would be nice to have a bigger house, newer car.etc - but I'm fairly content and am proud of what we have.
I have the time for hobbies and a pot for disposable at the end of the month, so I can still tinker with the cars.
The way I see it - I have an old Z3 as the fun car which is kept in the garage, If I was richer it would probably be the likes of a Porsche.
Does the Z3 give me the same kind of care free enjoyment? Undoubtably - so why bust my ass working every god given hour.
I would like a bigger house, but I can only be in one room at a time.
Meanwhile some of my friends seem hell bent on driving themselves into the ground at my age - no kids, working after work.etc - spend some of it and chill out!
As others have mentioned, I see, and am seeing plenty of people and peers seemingly hell-bent on pensions, paying off the mortgage, investing heavily, working all hours, with little time spent actually "enjoying" life.
Its good to have targets, but be realistic - what do you actually want/need.
These are mostly my friends, who are of similar age to me - 37.
We have all had a strong work ethic, all of us progressing since we started working around the age of 18, most of us working additional hours, saving hard in the early days in order to get onto the property ladder.
During our 20s, we didn't go out as much, didn't have as many holidays as others, drove older cars.etc - but meant we could buy ourselves a house.
This continued until I was around 35 - by which point I was married, had moved into a better house, had a child.etc
I'm now in a position where Im earning "enough" which is just above average, but I live a modest lifestyle whilst still being able to enjoy myself.
I'm afforded that by the fact I'm fortunate enough to have the skills to maintain my own cars / DIY on the house.etc
I don't have any outgoings other than the mortgage, no car payments, no credit card bills, no fancy trainers.etc
Its an expensive hobby keeping up with the Jones'
Yes, it would be nice to have a bigger house, newer car.etc - but I'm fairly content and am proud of what we have.
I have the time for hobbies and a pot for disposable at the end of the month, so I can still tinker with the cars.
The way I see it - I have an old Z3 as the fun car which is kept in the garage, If I was richer it would probably be the likes of a Porsche.
Does the Z3 give me the same kind of care free enjoyment? Undoubtably - so why bust my ass working every god given hour.
I would like a bigger house, but I can only be in one room at a time.
Meanwhile some of my friends seem hell bent on driving themselves into the ground at my age - no kids, working after work.etc - spend some of it and chill out!
Edited by AlexGSi2000 on Friday 7th November 11:22
freenote said:
Unreal said:
Depends if you think you will live to 90.
Most people don't and those that do aren't usually worried about driving and climbing Kilimanjaro for a good few years before that.
If don t mind me asking how do you manage to spend so much time abroad?Most people don't and those that do aren't usually worried about driving and climbing Kilimanjaro for a good few years before that.
I decided a long time ago that there is very little correlation between how much a car costs and how much I enjoy it.
If I did find myself wanting expensive cars, I think the answer to your question would depend on my life circumstances at the time. When I was single and childless, I'd have happy pushed a lot of what I earned into a hobby; now, I'd rather save money for my daughter's future university fees/house-buying/whatever.
If I did find myself wanting expensive cars, I think the answer to your question would depend on my life circumstances at the time. When I was single and childless, I'd have happy pushed a lot of what I earned into a hobby; now, I'd rather save money for my daughter's future university fees/house-buying/whatever.
freenote said:
AlexIT said:
I try to find a middle ground: what's the point of giving up all gratification? It must be balanced with the income, but no way I will just work for my pension (and there's no guarantee I'm going to make it till then).
I see from your profile that you re in Italy. How easy is it to own and modify cars out there? I m seriously considering moving abroad but I worry about you legislation on making any changes to your car.It is really the worst place I've been in that respect, even the smallest modification is subject to check by the authorities and you cannot apply without manufacturers' approval -which they will of course not grant-.
OTOH, the chances of being controlled are almost non-existent: I have been stopped not more than 5 times in the past 10 years and just for documents check. However should you get involved in an accident, that would probably be a whole different matter...
Gassing Station | General Gassing | Top of Page | What's New | My Stuff