Keep up with the Jones's

[Pucky Freak]

I pity the Jonses. I see shiny and I think debt and diverted savings to buy toys. The combined mileage of our two cars is 500k and they both work just fine. No debt except mortgage and that will be gone in 7 years. Yes I have a list of 100 things I want to buy/upgrade, and I very slowly obtain them using a tiny percentage of our total income. I'm overwhelming content with the things I have, and I unload a lot of stuff that "doesn't give me joy." I take pleasure in having a successful hunt using my modest gear.

 

[SD_Prairie_Goat]

Same here, Unless you have high interest rate, or an expensive house its tough to even use that deduction any more.

 

[noharleyyet]

If you have the discipline and budgetary means use discretionary funds to pay down your mortgage principal. Cheat the interest burden and build equity like a smart Jones.

 

[SD_Prairie_Goat]

If you have the discipline and budgetary means use discretionary funds to pay down your mortgage principal. Cheat the interest and build equity like a smart Jones.

Thought about that, but the interest is so low these days (I think I'm at like 3.9% interest on my house) that the number just don't work out for that. Putting my money to work in a "safe" ETF is going to beat it in the long run.


Also, building equity in a house doesn't allow of easy access to liquid cash in the event of emergency, which investing in ETF's would allow for. Another (probably the bigger) reason why I don't like putting extra toward my house.

 

[noharleyyet]

Thus the means and discretionary funds qualifier.

 

[MTGomer]

I’ve never understood how some people have so much stuff and can still eat. I feel far from well off, but I am definitely not complaining either. We have friends that make much less than us that have bigger, more expensive houses in expensive neighborhoods, brand new vehicles, 5th wheels, side by sides etc. They must be drowning in debt.
I guess I feel like less of a jackass buying a $500 tent to hunt out of when everybody else thinks they need a $60k RV, which would also require a bigger more expensive pickup to pull it.
The backpack, tent or swaros seem like less of an unnecessary splurge than the newest RZR to road hunt from. That said, I drove a RZR 1000 once... if they were about 15k cheaper I’d go get a couple.

 

[thusby]

The bad part is that we are all going to pay for the Jones' retirement as well.

 

[WesternRookie]

I talk to my wife all the time that some of the happiest livin we ever had was when we lived in classy shack in Bonner, MT and were broke. Plenty of evidence out there showing that owning a bunch of shit will not bring happiness. I think wllm1313 is right with to each their own, but experiences seem to be a thing to focus your fortune on with a high ROI.

Yep. I look back on myself in my early 20s. Lived in a ski town making $6.90/hour and a season lift ticket. I didn't have a pot to pi$$ in, but I was living a great life.

Now I live in a city on the east coast. I have all the material possessions I ever wanted (and the upkeep, taxes, and insurance policies to go with them), but I would go back to being that broke college graduate in a heartbeat if I could.

If anyone listens to Dave Ramsey, it is amazing what all the "middle class" needs these days compared to 30 years ago.........I'm scared of what things will look like in 30 more years. Pretty sure $100K HD pickup trucks are less than 10 yrs out.

 

[R.K.]

I'm 30 years old, with 3 years as an engineer, and would probably trade most of this life to be back in the Ozarks with my kayak and waders, making minimum wage and running wild when not working.

Montana is great and all, the salary and health insurance are good to have, but I'm not nearly as happy working as when I was fishing 3-4 times a week, hunting just as much in the fall & spring, and had an endless variety of fish to chase within an hour. Being broke wasn't the most fun, but the rest of it made up for that.

But all I've been thinking lately is "my boots leak, my pack is falling apart, I don't have a boat or kayak, both pairs of waders leak, I could really use that 6 weight, I need a yard so I can get a dog again, a garage to store things and maybe get a shop." So I guess I'll stick with it for a while, but buy used, and buy things that I can sell for about what I paid.

 

[duck wrangler]

I have a full time, 40+hr a week job that pays my bills and provides insurance and a 401K. I get some vacation/personal days and we are generally slow in the fall(agriculture business). Prior to accepting this job, I had a business installing fences(chain line, wood, alum, pvc). I have been able to keep this as a side job that my wife(school teacher) and son(student) both help me with. I use the side money to buy hunting stuff and I try to go on one out of state duck hunting trip per year with my son so he can see the country. I have been trying to knock off the 41 species of ducks/geese for a few years and am down to two(cinnamon and king eider). I'm headed to SoCal in January to knock the cinnamon teal off the list and will build up the funds the next couple years to get the king eider in 2023. Without this side job, it would not be possible

We work most weekends from March through Nov and many nights during the week to keep up with projects. While most are enjoying the beach or lake, we are sweating our butts off mixing concrete. My wife will tell you that I pay well, but we do roll when we work, so I get my money's worth! We fit in UVA football and basketball games as we can(son plans to transfer there in the fall). My wife and her family always take a vacation in the summer; I normally go for a day or so, but work the balance of the time.
Once Nov/Dec/Jan hit, I hunt every chance that I get.

I don't try to keep up with anyone; I just go at my own pace. I buy quality when possible and have no problem buying used goods to save a few $$.

 

[AvidIndoorsman]

Not to side track the discussion, but in terms of home ownership what's the goal @rjthehunter? If "the goal" is to be happy and get to recreate as much as possible than I think you're misguided, or at least there's a more nuanced story to tell.

If the goal is to play more, renting has a lot of positives.

To your point it's nuanced, I think a huge factor is the housing market in your particular area. I pay half of what I did renting on my mortgage for my current place which is identical in size. Plus even on a 30 year 30% of my housing costs mortgage/interest/PMI/taxes/etc is staying in my pocket.

Owning does have draw backs, but also it's own flexibility in some regards. A crappy landlord can become a massive time suck and inhibit your ability to do the stuff you want... been there.. multiple times. For instance microwave broke, I could have gone to home depot down the street, purchased a new one and installed it above the stove in an afternoon. It took my landlord over 2 months to get it done, tons of back and forth via phone and email, multiple weekends where I had to be home to let the "installer" in only to have them not have what they needed etc etc.

I think the bigger issue is creating a lifestyle that keeps you from doing what you want. If you love cars and want to collect sport's cars go for it, but don't buy a sports car as a status symbol which then eats up so much of your budget each month that you can't afford an out of state elk tag.

 

[MT Bound]

We try to live a simple life, my truck is nearing 300k and my wife's corolla is also paid off and around 150k.

I've never compared myself to others and never care to, we just try to live simply. I've never been a materialistic person, and I think that has alot to do with my up-bringing in a house of 5 kids and minimal income which= not alot to go around for extra stuff.

 

[Irrelevant]

To your point it's nuanced, I think a huge factor is the housing market in your particular area. I pay half of what I did renting on my mortgage for my current place which is identical in size. Plus even on a 30 year 30% of my housing costs mortgage/interest/PMI/taxes/etc is staying in my pocket.

Owning does have draw backs, but also it's own flexibility in some regards. A crappy landlord can become a massive time suck and inhibit your ability to do the stuff you want... been there.. multiple times. For instance microwave broke, I could have gone to home depot down the street, purchased a new one and installed it above the stove in an afternoon. It took my landlord over 2 months to get it done, tons of back and forth via phone and email, multiple weekends where I had to be home to let the "installer" in only to have them not have what they needed etc etc.

I think the bigger issue is creating a lifestyle that keeps you from doing what you want. If you love cars and want to collect sport's cars go for it, but don't buy a sports car as a status symbol which then eats up so much of your budget each month that you can't afford an out of state elk tag.

You are entirely in control of who you're landlord is. If he's shitty, get a new landlord.

And yeah, it might be that a 30-yr mortgage and twice what a house is in WA.

 

[Upland]

I am guilty of always wanting more or the next best thing, but for me it comes down to time, money and what makes the most sense. There is no sense in going out an buying all the nicest hunting gear I can find when I only have time for 1 week out of the year to hunt because I need to be at work to make the money to pay for it all. I would have a lot more fun saving that money so I can take a couple more days off to be in the field even if it means I get a little wet. The way I look at it is I can never get time back but I can always make more money.

 

[MNElkNut]

There are two extremes...the person who lives frugally and saves everything is banking on good health and an enjoyable retirement and the other extreme is two pronged. The Jones is one example...buy all the toys and be in debt...most here don't follow that lifestyle. The other prong is to use the money you do have to enjoy life now and retirement be damned. I don't think any of these approaches is the best for me.

Most of us are in the middle. I buy quality gear because I want to buy once, cry once and have it last and work. A Bushnell scope when I was 21 years old that busted in year 2 convinced me of that. I want to bring my kids on western hunts. I want them to be warm when sitting in a Minnesota tree stand hunting whitetails at 10 degrees with a stiff wind and dry when pounding cattails in the snow for late season roosters. Cheap stuff won't cut it for as hard as we hunt. I think a balance between solid gear, great life experiences, and saving is the answer. It is up to each individual to decide exactly how that balance works out. Well, the wife might have some say in that too. Her say might even add up to over 50%!

 

[AvidIndoorsman]

You are entirely in control of who you're landlord is. If he's shitty, get a new landlord.

Location dependent, some places it's super easy to find a house to buy... but finding some place to rent is a SOB. Other places it's the opposite.

I'm just smart to take the temperature of your locale and go from there.

 

[brnsvllyjohn]

As far as buying verses renting goes we bought years ago. We upgraded a couple of times then downsized after retirement. We do not have a mortgage now. If I had been a renter in this area I would be paying over $2000 a month to rent this house. I would not have been able to retire if I was paying rent.

 

[Panda Bear]

yeah, I get very upset when I see someone with a two room igloo. damn show off

 

[Irrelevant]

I dare someone to try to figure out how days of their life are spent mowing the lawn, or snowblowing, or fixing irrigation, etc. Those are hours you could have spent scouting or hiking or fishing.

 

[rjthehunter]

I dare someone to try to figure out how days of their life are spent mowing the lawn, or snowblowing, or fixing irrigation, etc. Those are hours you could have spent scouting or hiking or fishing.

Come home from work, grab a beer and mow the lawn. If it's an issue then pay someone to do it. More times than not I'm sure a neighbor kid would love to do it for cheap. For equal or less $ I could be paying on a mortgage around here. Sure I'd have to maintain my own house but rarely is there an issue that I couldn't take care of after work one day. I'm fairly efficient at anything that requires a handyman to do. 9/10 times I'm not going scouting after work. Honestly I fish 100s of hours a year. If I had to give up a weekend to take care of a larger project, I wouldn't feel like I lost time by having to do so.