Wealth Habits - Aspirational Spending
Growing up the following fell somewhere between normal and aspirational:
Private education from Pre-K through Graduate School
Winter ski vacations
Summers spent at a waterfront cottage
International trips to tropical and European destinations
Two family cars, bought new, every five years
A walk-in closet filled with wonderful clothes and shoes
A garage packed with the finest sports equipment
Depending on where you live, you are signing up for $3,000,000 to $20,000,000 of aspirational spending.
...and you haven't bought a bag of groceries!
Is there another way?
Save half of your after-tax income until you have ten years living expenses banked.
Then cut your living expenses and work part-time, so you can...
Spend thousands of hours with each of your kids before they graduate high school
Live where you don't need to leave
Encourage your family to actively participate inside your community, and outside your demographic
Cultivate inexpensive passions (mine are reading, writing, forest walking and cycling)
Share simple, local experiences with your spouse (love, holding hands, serenity)
Time & health.
True wealth.
True luxury.