Reply to Stretching for Short Term - First World Problems

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[quote=Anonymous]This is absolutely a first world UMC/HENRY whine post.

We have the opportunity to buy a duplex investment property(Dh/DW late 30s). Close with down payment and seller financing, 0% interest. We’d cash flow payments, would be paid off in less than a year. For about 8 months things would be tight…not reducing retirement savings tight but reducing brokerage contributions, no eating out, no vacations, no new clothes, still organic groceries but Trader Joe’s not Whole Foods.

Property is in a solid rental market, feels like a good opportunity. Has one set of existing tenants. Owner has been living in the other unit and is retiring and moving out.

I’m feeling resentful and guilty for feeling resentful. It feels like absolutely the right choice to buy and I’m grateful to be in a position to even consider it.

I know this is completely ridiculous but we were just getting to the place of being able to afford “nice” things after climbing out of a debt hole and the childcare(DC5) years.

Our personal home needs some work, but it’s paid for. We don’t drive fancy expensive cars and will drive them into the ground. We don’t have expensive hobbies. We don’t buy designer anything.

It feels like we work so hard allllllll the time, make more than our parents ever made, yet the quality of life for what we make…just isn’t what it “should” be.

Passive income, investments, healthy retirement funds…all necessary and future self will thank past self, but right now it feels HARD.

We have friends who seem to be having a lot more fun with their money…and there definitely isn’t family money…are people just living beyond their means? Massive debt? Skipping retirement saving?

I need some perspective - and not the “some people only have top ramen to eat” because both DH/DW grew up poor - but this jump into financial stability and the discipline it takes to ignore the desire for nice clothing and trips while avoiding consumer debt and investing in our future…anyone else first generation UMC/HENRY? How’d you manage to go from that to wealth? Any tips? Tricks?

I want a Chanel bag that I can’t afford, won’t use, and don’t live a life where it would make sense to even own…I want expensive shoes that I would never wear and would just live in my closet…I wear the same variation of inexpensive flats in rotation. It’s this bizarre emotional feeling of restriction about stuff that isn’t really my style anyway.
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