Common People, Uncommon Cars

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#25
(02-06-2011, 03:48 PM)flinger Wrote: This is the part i usually don't understand. Why do we need to benchmark against peers or relatives or etc...?? What is the benefit or purpose?

I think the lazy reasoning is an excuse. If you have goals and vision of where you and your family want to be...that should provide you the motivation instead of your peers... If you follow your peers then you are just following another person aspirations which might not make you happy in life.....

Don't you think that is better idea?

My explanation is that it makes me work harder to at least achieve the same level of career success as my peers. When I say peers I don't just mean age group, but also education level, degree and family demographic. The "lazy" reasoning is not an excuse to me - in fact if you know that for whatever reason you are lagging behind your peers in terms of career achievements then you could start to think about how to rectify the deficiencies. Some examples might be upgrading your skills, learning new skills, changing jobs to suit your speciality etc. If one did not benchmark career and salary, then one might just be contented and not strive hard to improve oneself. Just my opinion though - not that I don't think your idea of financial freedom is sound, but I also feel that we need some sort of impetus to continually improve. Of course, the downside is that too much comparing can also make you feel low and depressed (especially if you are on the low end of the scale).

In terms of achieving financial freedom, yes I do know what I want to achieve but the goalposts also keep changing as you age and your family circumstances change. So it's a dynamic thing, and cannot remain static. Hence, we should also continually improve ourselves in order to stay relevant and to make sure our goals are consistently met.

(02-06-2011, 04:00 PM)cif5000 Wrote: I just had lunch with an old friend today. He recently sold his EA and moved in to stay with his in-laws. He sold his Lexus and bought a second-hand Honda. He is richer, but I don't know if he is happier.

What was your friend's reason for selling and downgrading? If perhaps you can discern the rationale for it, then you can figure out if he is indeed "Happier" or not.
My Value Investing Blog: http://sgmusicwhiz.blogspot.com/
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Messages In This Thread
Common People, Uncommon Cars - by Musicwhiz - 28-05-2011, 02:01 AM
RE: Common People, Uncommon Cars - by WolfT - 28-05-2011, 04:56 AM
RE: Common People, Uncommon Cars - by Musicwhiz - 28-05-2011, 07:42 AM
RE: Common People, Uncommon Cars - by WolfT - 28-05-2011, 11:13 AM
RE: Common People, Uncommon Cars - by Musicwhiz - 29-05-2011, 10:08 PM
RE: Common People, Uncommon Cars - by lonewolf - 30-05-2011, 03:43 PM
RE: Common People, Uncommon Cars - by Musicwhiz - 30-05-2011, 04:09 PM
RE: Common People, Uncommon Cars - by Zelphon - 30-05-2011, 10:02 PM
RE: Common People, Uncommon Cars - by Musicwhiz - 31-05-2011, 06:51 AM
RE: Common People, Uncommon Cars - by Big Toe - 31-05-2011, 11:53 PM
RE: Common People, Uncommon Cars - by Musicwhiz - 01-06-2011, 11:01 AM
RE: Common People, Uncommon Cars - by yeokiwi - 01-06-2011, 11:36 AM
RE: Common People, Uncommon Cars - by Musicwhiz - 01-06-2011, 11:56 AM
RE: Common People, Uncommon Cars - by Big Toe - 01-06-2011, 11:05 PM
RE: Common People, Uncommon Cars - by Musicwhiz - 01-06-2011, 11:45 PM
RE: Common People, Uncommon Cars - by Thriftville - 02-06-2011, 10:33 AM
RE: Common People, Uncommon Cars - by lonewolf - 02-06-2011, 12:15 PM
RE: Common People, Uncommon Cars - by Musicwhiz - 02-06-2011, 12:35 PM
RE: Common People, Uncommon Cars - by karlmarx - 02-06-2011, 02:50 PM
RE: Common People, Uncommon Cars - by flinger - 02-06-2011, 03:48 PM
RE: Common People, Uncommon Cars - by cif5000 - 02-06-2011, 04:00 PM
RE: Common People, Uncommon Cars - by Musicwhiz - 02-06-2011, 04:49 PM
RE: Common People, Uncommon Cars - by cif5000 - 02-06-2011, 05:11 PM
RE: Common People, Uncommon Cars - by Musicwhiz - 02-06-2011, 05:27 PM
RE: Common People, Uncommon Cars - by cif5000 - 02-06-2011, 05:39 PM
RE: Common People, Uncommon Cars - by Musicwhiz - 02-06-2011, 05:43 PM
RE: Common People, Uncommon Cars - by lonewolf - 02-06-2011, 02:57 PM
RE: Common People, Uncommon Cars - by Jared Seah - 02-06-2011, 09:02 PM
RE: Common People, Uncommon Cars - by Temperament - 27-07-2011, 03:37 PM
RE: Common People, Uncommon Cars - by specuvestor - 18-05-2015, 04:48 PM
RE: Common People, Uncommon Cars - by shl3 - 18-05-2015, 09:26 PM
Re: Common People, Uncommon Cars - by morten - 19-05-2015, 12:47 PM
RE: Common People, Uncommon Cars - by Porkbelly - 19-05-2015, 01:19 PM
RE: Common People, Uncommon Cars - by morten - 19-05-2015, 01:39 PM

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