[V]

Just for fun, I thought I’d answer these.

Originally Posted by Sliver

Yeah, and how much money does he make? And what sort of financial start did he have in life? Parents pay for an education? Any inheritances? Were his grandparents putting money away every month into a retirement account for him from the time he was born (I know a guy who had this done for him...can you imagine!?)? How much does he save per year? Was there any parental help in buying his first home? Does he come from a reasonably wealthy family so he has a built-in safety net that isn't available to everyone?

I make less than the median household income. I had no financial start in life. I paid for my own education. No inheritance. No money put away by grandparents. I save a lot, mostly by maxing out my kids’ RESPs. My parents gave me no money for my first house. My parents are not remotely wealthy, although it was a nice stable home that I guess if I failed miserably at life I could find a way to survive in their basement, I guess?

I mean, to raise four kids, buy a house, support a dependent spouse and save enough for retirement while taking on the risk of being the sole breadwinner with five dependents sounds like hell - particularly if you have the expectation that you're going to enjoy life along the way with a little bit of disposable income. Plus, I hope V has some good life insurance as well as disability insurance. If something happens to him, there are going to be six people total that are totally fataed. Life insurance isn't necessarily expensive, but the right amount of disability insurance is.

Yeah, of course I have life insurance. But I don’t have a cable package, I don’t have a data plan, I don’t have car payments, I don’t have student debt, I don’t travel for vacation. I don’t spend thousands on Christmas and birthdays. We don’t eat out. Ever. That list right there has to be worth, what, almost 1000 bucks every month? It probably sounds like hell to some people, but I think that’s part of the problem.

I do have a nice woodworking shop, but that came in my late 30s. It also helps as a bit of a side hustle. It hasn’t totally paid for itself, but it’s not far off.

Not saying it can't be done, but you obviously need a high income to do it and luck to be on your side with respect to health, real estate purchase timing, vehicle reliability, pension/personal savings, the economy (no lay-offs), etc.

I’ve been lucky, for sure. I’ve had steady employment my whole career, although part of that is because of where I choose to work.

Maybe his parents have a cabin or something they go to for down time - we all need a break, but vacations can be expensive unless you have free accommodation.

We enjoy camping. It’s a couple hundred bucks a year.

There are just too many factors that this cannot be universal advice you can give to most people. You can budget all you want, but you really have to make a single income go far to accomplish the above. Plus, imagine if you have a kid with special needs or if you want to save for their education - forget any of that.

It’s not for everyone, that’s for sure, but I really wonder if people are actually legitimately happy with their consumeristic lifestyle. There are alternatives, and I know we’ve found a life that we find very satisfying. Focusing on supporting others and spending time together as a family is rewarding for us, but I know it’s not for everyone.