Work Hours and Life Balance

[ercchry]

leverage used correctly is the key to success... just ask Elon!

[J-hop]

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leverage used correctly is the key to success... just ask Elon!

Leverage to build a business makes absolute sense. Leverage so you can drive a Mercedes instead of a Hyundai doesn’t....

[ercchry]

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Leverage to build a business makes absolute sense. Leverage so you can drive a Mercedes instead of a Hyundai doesn’t....

why not leverage your personal life like a business? ...of course though by "make sense" i mean in an equity/wealth building way... not in excessive consumer debt. i would also argue that leasing a German car has a lower cost of ownership than buying a brand new Korean car haha

[max_boost]

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why not leverage your personal life like a business? ...of course though by "make sense" i mean in an equity/wealth building way... not in excessive consumer debt. i would also argue that leasing a German car has a lower cost of ownership than buying a brand new Korean car haha

[J-hop]

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why not leverage your personal life like a business? ...of course though by "make sense" i mean in an equity/wealth building way... not in excessive consumer debt. i would also argue that leasing a German car has a lower cost of ownership than buying a brand new Korean car haha

Haha, yea just an example. But on the equity/wealth building idea let’s be honest, almost no one treats it like that.

[Buster]

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why not leverage your personal life like a business? ...of course though by "make sense" i mean in an equity/wealth building way... not in excessive consumer debt. i would also argue that leasing a German car has a lower cost of ownership than buying a brand new Korean car haha

Basically because you can't. Business can borrow and make it a tax benefit. Also business grow to expand their enterprise, this can be exponential. Personal borrowing to invest usually means simply taking on more risk without the benefit of the organic growth. In other words, borrowing a dollar in a business can unlock significant potential. Borrowing a dollar to buy an additional share of a public company doesnt have the same impact.

The concept of personal leverage is often realized by people buying real estate as an investment. Almost always HIGHLY leveraged...and it's the only way for the average punter to juice their returns through leverage. And why I hate it so much as an asset class.

[ercchry]

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Basically because you can't. Business can borrow and make it a tax benefit. Also business grow to expand their enterprise, this can be exponential. Personal borrowing to invest usually means simply taking on more risk without the benefit of the organic growth. In other words, borrowing a dollar in a business can unlock significant potential. Borrowing a dollar to buy an additional share of a public company doesnt have the same impact.

The concept of personal leverage is often realized by people buying real estate as an investment. Almost always HIGHLY leveraged...and it's the only way for the average punter to juice their returns through leverage. And why I hate it so much as an asset class.

yeah i guess any example i could come up with is real estate related, but it is true that RE is one of the few ways to build wealth as an average "employee type". managing personal cash flow is also important though. can always assess things like vehicle purchases as a risk/reward venture (ie. older depreciated car, vs financed new vehicle... payment vs potential maintenance bills)

[J-hop]

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yeah i guess any example i could come up with is real estate related, but it is true that RE is one of the few ways to build wealth as an average "employee type". managing personal cash flow is also important though. can always assess things like vehicle purchases as a risk/reward venture (ie. older depreciated car, vs financed new vehicle... payment vs potential maintenance bills)

I feel real estate investment isn’t an option for most. Most people can’t afford a second property and making money on a primary residence is essentially not possible unless you luck out and time an up and coming neighbourhood perfectly. I look at my house and any area I’d ever want to live is appreciating at approximately the same rate so any gains I made are nullified.

Unless you mean indirectly through helocs to invest in other money making opportunities.

I don’t know, someone correct me if I’m wrong but primary residences are not investments IMO

[ExtraSlow]

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I don’t know, someone correct me if I’m wrong but primary residences are not investments IMO

Unless you are single, I don't think it's possible to treat your primary residence as an investment. Moving to take advantage of different market trends is very difficult if you have kids in school, a wife with a job, nearby elderly relatives etc.

[Buster]

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I feel real estate investment isn’t an option for most. Most people can’t afford a second property and making money on a primary residence is essentially not possible unless you luck out and time an up and coming neighbourhood perfectly. I look at my house and any area I’d ever want to live is appreciating at approximately the same rate so any gains I made are nullified.

Unless you mean indirectly through helocs to invest in other money making opportunities.

I don’t know, someone correct me if I’m wrong but primary residences are not investments IMO

No, they aren't.

And RE as an asset class more or less track inflation over the long term.

[J-hop]

Yea not to mention if you’re like me it was more intelligent to keep my investments and take on the high ratio mortgage insurance than put down 20% so realistically with the high ratio insurance and mortgage interest I’ve lost money on my house. I don’t think it’s good to look at a house as a financial investment personally. Investment in my quality of life (and sanity) absolutely. But it hasn’t netted me a penny and probably never will

[ercchry]

You can still make better housing choices that can pay off... ie. buy fixer upper in an area being gentrified, put in the sweat equity, get HELOC when area has “come up” invest that equity, while writing off the interest.

Anyways this thread is getting off topic... borrow cheap money, invest in things with a better return within your tolerance for risk. Multiple streams of revenue is how you can leverage your own time to create a better life balance. Don’t spend 80hrs a week making someone else rich when you can do something for yourself once you have the freedom of having your lifestyle supported with less man hours

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Yea not to mention if you’re like me it was more intelligent to keep my investments and take on the high ratio mortgage insurance than put down 20% so realistically with the high ratio insurance and mortgage interest I’ve lost money on my house. I don’t think it’s good to look at a house as a financial investment personally. Investment in my quality of life (and sanity) absolutely. But it hasn’t netted me a penny and probably never will

Well that’s still an example of leveraging RE... you also have to factor in the money you didn’t put into the house, without the high leverage you took on you wouldn’t have had access to that money

[cycosis]

My last job was 6-7 days/week. Was just too much for me. Miserable with my one day off (maybe) being Sundays and that was the only day I had energy left to get chores done. Didnt even go out skiing once two years ago. So I left.

I took a fairly sized paycut but now Im on a 7-4 M-F and much happier. Each weekend seems like vacation as I had 7 years of no weekends. Oh and stat holiday long weekends also seem like vacations as I never got hose before. Financially its tighter but I am so happy I made the switch. Way more balanced personally

[austic]

I have a 3 month old so I dialed it back a bit and work 45ish a week. Unfortunately the same situation as buster where client calls/emails on evenings and weekends but it isnt too bad.

[ExtraSlow]

I've done the 60+ hours, and when it's something you care about, it's not that bad. If you aren't enjoying it and you feel like your efforts don't make a difference, then even 40 is soul-sucking.

I'm ~10 a week between my failing consulting business, helping some guys start an analytics company, and trying to get myself employed. Of course, none of those hours are paid. So that's not great.

Gives me lots of time for camping and beer reviews though.....

[roopi]

Claims of working 60-100 hours a week. Majority of posts in this thread are between normal business hours.

[ExtraSlow]

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Claims of working 60-100 hours a week. Majority of posts in this thread are between normal business hours.

[Buster]

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Claims of working 60-100 hours a week. Majority of posts in this thread are between normal business hours.

The only time I'm actually ON beyond is when I'm sitting at my desk working.

[ercchry]

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The only time I'm actually ON beyond is when I'm sitting at my desk working.

What are your adjusted productive daily hours?

[BoS_DC2]

8 hours spent surfing beyond