Blog Dis
To rot or to become rich?
2024-08-22
I reflect often on the effects of wealth and the impact it has on the world and the individual, insofar that if you don't take care of your own business, the wealth of the world isn't about to open its coffers and throw a tonne of money your way.
Save, save, and save some more, mom said to me, and most important live within my means. We, as Canadians, are known for paying off our mortgages more rapidly than Americans, according to statistical research. However, fewer that 5% of Canadians save more than 10% of their annual income. I usually try to hit the target of 20%, which means I lead a frugal life in terms of extravagances. I don't own a closet of designer clothes or shoes or boots or fancy watches and jewelry, neither high-end electronics (truly). I don't invest in a new wardrobe every year, nor have I ever owned a car or a house, a boat, motorcycle, trailer or even a small cottage. My perception of wealth is decidedly my own, as it is for you. Wealth, to me, is the ability to afford one's own place, a luxury, to live on your terms, and to eat well and consistently to purchase high quality foods, like organic fruits that aren't grown and loaded with chemicals.
I don't often eat in restaurants, by choice, or to even eat at fast food chains on a regular basis, so when I do choose to eat at a restaurant, it's a special treat. Fussy people like me prefer to eat their own food, knowing how it's been prepared and cleaned. Having known people who've worked as chefs, in some of the top restaurants, they've taught me a great deal about the perception of luxury, to eat out, and the reality of what it means to have someone prepare your food. One friend, whose father was a food inspector in Ottawa, his entire career, exposed the horrible truth to me: 90% of restaurants don't enforce best practices with staff to ensure the highest standards of food preparation, or that their food is stored or washed using the appropriate amount of care required, nor do these individuals observe proper hygiene; they being the ones handling and serving your food. Yikes! Just thinking about someone's filthy nails or hands and where they had last put them, and then for this person to handle my food... well I get the shudders.
Know that I don't for a moment feel my life is lacking in wealth. I consider myself to be rich. I can afford a rich lifestyle, which is to say, I take vacations, to sleep in the best quality sheets, to drink when I choose the finest premium alcohols, fine wines, to have access to free healthcare and to enjoy freedoms that come from living in Canada. And equally as important, I'm able to handle an unanticipated bill without going broke. This is wealth. Health is wealth. A sound mind is wealth. A sense of humour is proof of wealth.
The impermanence of life recognizes the true value of our existence and what has genuine importance. Do you choose to live a penniless existence, what some would regard as rotting away your life and potential, or is your time and effort best spent piling up cash for your retirement? Fair question, given that no one will be around when you're older to sweep in and ensure that your life is just dandy, so that you don't have worries in your Golden years. Based on all the discussions I've had with retirees, you'll still have troubles. You'll still have issues to deal with, whether its taxes, familial drama, aches and pains that come with age, rising gas or housing costs... even if you've got a pile of cash hidden in your mattress. Just realizing this and accepting it means that it's in each of our best interests to manage our money well, to live within our means (as I had started this post).
I don't want my life to rot away while I'm living it, and the definition of this is being mired in debt. I'd rather be rich in morals and thoughts, and able to live the kind of luxury about which I've spoken previously, that is to say I want to be able to afford good food, the privacy of my own quarters and the ability to splurge every now and then to treat myself, such as when I embark on adventure travel half way across the world, and drop thousands in a matter of weeks.
Memories and experiences are the true wealth of life.
You don't have to listen to the banks to remind you that it's wise to save, which it is, but keep in mind too that saving every bloody penny without living is also a form of rotting. Ultimately, your life will come to an end. And in the end, all that cash you socked away will be gobbled up by another living being, either the banks or the inheritors. But if I may, to impart one piece of advice, don't dilly-dally. Ensure that your Last Will is up-to-date. If you fail to put a personal will into place, the Government will happily come along and take all of it.
Save, save, and save some more, mom said to me, and most important live within my means. We, as Canadians, are known for paying off our mortgages more rapidly than Americans, according to statistical research. However, fewer that 5% of Canadians save more than 10% of their annual income. I usually try to hit the target of 20%, which means I lead a frugal life in terms of extravagances. I don't own a closet of designer clothes or shoes or boots or fancy watches and jewelry, neither high-end electronics (truly). I don't invest in a new wardrobe every year, nor have I ever owned a car or a house, a boat, motorcycle, trailer or even a small cottage. My perception of wealth is decidedly my own, as it is for you. Wealth, to me, is the ability to afford one's own place, a luxury, to live on your terms, and to eat well and consistently to purchase high quality foods, like organic fruits that aren't grown and loaded with chemicals.
I don't often eat in restaurants, by choice, or to even eat at fast food chains on a regular basis, so when I do choose to eat at a restaurant, it's a special treat. Fussy people like me prefer to eat their own food, knowing how it's been prepared and cleaned. Having known people who've worked as chefs, in some of the top restaurants, they've taught me a great deal about the perception of luxury, to eat out, and the reality of what it means to have someone prepare your food. One friend, whose father was a food inspector in Ottawa, his entire career, exposed the horrible truth to me: 90% of restaurants don't enforce best practices with staff to ensure the highest standards of food preparation, or that their food is stored or washed using the appropriate amount of care required, nor do these individuals observe proper hygiene; they being the ones handling and serving your food. Yikes! Just thinking about someone's filthy nails or hands and where they had last put them, and then for this person to handle my food... well I get the shudders.
Know that I don't for a moment feel my life is lacking in wealth. I consider myself to be rich. I can afford a rich lifestyle, which is to say, I take vacations, to sleep in the best quality sheets, to drink when I choose the finest premium alcohols, fine wines, to have access to free healthcare and to enjoy freedoms that come from living in Canada. And equally as important, I'm able to handle an unanticipated bill without going broke. This is wealth. Health is wealth. A sound mind is wealth. A sense of humour is proof of wealth.
The impermanence of life recognizes the true value of our existence and what has genuine importance. Do you choose to live a penniless existence, what some would regard as rotting away your life and potential, or is your time and effort best spent piling up cash for your retirement? Fair question, given that no one will be around when you're older to sweep in and ensure that your life is just dandy, so that you don't have worries in your Golden years. Based on all the discussions I've had with retirees, you'll still have troubles. You'll still have issues to deal with, whether its taxes, familial drama, aches and pains that come with age, rising gas or housing costs... even if you've got a pile of cash hidden in your mattress. Just realizing this and accepting it means that it's in each of our best interests to manage our money well, to live within our means (as I had started this post).
I don't want my life to rot away while I'm living it, and the definition of this is being mired in debt. I'd rather be rich in morals and thoughts, and able to live the kind of luxury about which I've spoken previously, that is to say I want to be able to afford good food, the privacy of my own quarters and the ability to splurge every now and then to treat myself, such as when I embark on adventure travel half way across the world, and drop thousands in a matter of weeks.
Memories and experiences are the true wealth of life.
You don't have to listen to the banks to remind you that it's wise to save, which it is, but keep in mind too that saving every bloody penny without living is also a form of rotting. Ultimately, your life will come to an end. And in the end, all that cash you socked away will be gobbled up by another living being, either the banks or the inheritors. But if I may, to impart one piece of advice, don't dilly-dally. Ensure that your Last Will is up-to-date. If you fail to put a personal will into place, the Government will happily come along and take all of it.
