Sink Roots or Chase the Dollar?

[Henro]

Just wondering what you guys decided to do.

When young I decided to sink roots rather than chase the dollar. I always expected to build my own home with my own hands, and when 30 or so, I needed to make a decision as to what path would be best overall for my family and I. We were living in Japan at the time, and my two girls were born there.

I decided our quality of life would probably be better on average if we came to the US to live. There were pluses and minuses in each case.

My wife and I, with two girls 3 and 5 years old came to the US with some cash in our pockets and nothing planned, other than to buy an old house with a little property and build what we wanted. AND for me to find a job...

But the first decision, was to sink roots or chase the dollar. It seemed like to maximize income one needed to change jobs frequently, looking for increased wages with each job change. And this might mean moving to other cities or states. The other choice was stability, sticking with one company, limiting wage increases somewhat, but being able to sink roots. I decided on this second option. I guess my wife agreed, cannot remember.

Most interesting thing was we had enough cash to buy an old shack on an acre and a half, in a good area. BUT I wanted to take out a loan, and use the cash we had to buy materials for building our new home myself. The bank's answer was, they had no idea what I might use the cash for, and since I did not have a job (just arriving in country a month or two before), the risk was too great, and they were not in the habit of buying property...which would be the net affect if I defaulted on the loan. In retrospect, this was best I think. We bought the property with cash. We lived in the shack for 5 years and the money we saved in rent paid for the property.

So anyway, I am curious. I guess since this is a tractor site, most of us chose to sink roots rather than keep changing jobs, that might make changing geographic location change also necessary.

In the end, what we did was best for us. We now have 8 acres, a large house we built ourselves, and a lot of good memories.

How about you?

 

[PaulR]

Had the good fortune to be able to do both pretty much. Wife and I live in my home town, both working hard and making good money. We want to turn off the chasing the dollar part, but we live to a certain standard that we like, and that requires dollars most often. Happy to have sunk roots with 3 kiddos though.
I see many living the fast life, chasing the dollar to the extreme, that's not for me.

 

[fruitcakesa]

We dug in solidly here in Vermont.
Arrived 37 years ago with an old rusty Toyota P/U and a Dodge D150 loaded with our stuff and very little cash.
My wife worked in a local bakery and I pounded nails when work was available.
We began building our homestead on a piece of family land and are still at it all these years later.
While we did not ever chase the money, we opened and operated a commercial bakery for 34 of those 37 years. We are good savers/investors and now have the good fortune to be able to retire with no financial worries. We're not rich but do not want for anything and have a wonderful home with family close by.

 

[Henro]

We dug in solidly here in Vermont.
Arrived 37 years ago with an old rusty Toyota P/U and a Dodge D150 loaded with our stuff and very little cash.
My wife worked in a local bakery and I pounded nails when work was available.
We began building our homestead on a piece of family land and are still at it all these years later.
While we did not ever chase the money, we opened and operated a commercial bakery for 34 of those 37 years. We are good savers/investors and now have the good fortune to be able to retire with no financial worries. We're not rich but do not want for anything and have a wonderful home with family close by.

I did not mention it, but we too are fortunate to be in a position in retirement to live as we did when I was working. Not that we live excessively by any means. Perhaps that is why it is the same now?

 

[fruitcakesa]

I did not mention it, but we too are fortunate to be in a position in retirement to live as we did when I was working. Not that we live excessively by any means. Perhaps that is why it is the same now?

We have always operated by the rule of do it yourself.
Why pay someone else unless you absolutely can't figure out how to do it.
I can usually figure it and if not, Google can.

 

[NCL4701]

Back in the late 80’s I was making $20/hr working for a tree service in Raleigh (which was good money, particularly for a 21 year old, at the time) but I was climbing and it was both very dangerous and definitely a young man’s job. I had a choice between going in as a partner with the guy that owned the tree service or getting a safer corporate job and work my way up. Figured if I went with the tree service I’d probably end up like him, busted up and offering half my business to some kid just to keep it going. So I went to $6/hr to be basically a secretary. 31 years later I’m with the same company, graduated several notches up from secretary, and the only move I had to make was back to my home town. I’ve had several opportunities to jump for more money. All of them were either unstable situations, required moving, or required working for an employer whose ethics didn’t line up with mine. Also had opportunities to keep moving up with the company I’m with but those require moving. I know I could make more but I’ve always looked at money as a tool, not an end in and of itself. Titles don’t need anything to me either. Money is like air to me: if you have enough, you’re good; if you don’t have enough you’d knock your momma down on the way out the door to get what you need. I don’t have everything I want but I have all I need and honestly most of what I want.

Several years ago, my wife and son (who was still living at home at the time) asked me what I’d do with all my money if they didn’t spend it all. Told them I’d probably pile it up in the spare bedroom and roll around in it. But I had decided long ago what to spend my money on and it was to have a wife who could stay home and raise my kid and to provide a comfortable, stable home. If I had a pile of money and my family was a mess, I’d consider that a failure on my part. Been married to my first and only wife 32 years. Kid is 25 and nowhere near perfect but isn’t a worthless loser either. If we had left where we are now (been back here 30 years) my Dad would be rotting in a nursing home instead of living 95% on his own next door. All in all it’s worked out pretty well.

So definitely roots. Chasing a dollar is chasing the wind. Just my opinion.

 

[old and tired]

Deep roots in Raleigh, we've only own one house... now have an extra 28 acres and house in the South Western Virginia by a very dear friend. Still have the same job for 30 years. Had a boss that treated me better than I could ever ask for. He got me raise after raise. I didn't even think about the pension way back when... But boy did I get lucky in that respect.

 

[JimmyJazz]

You need not have to move a lot to "chase cash". Sink roots AND chase the dollar. Most wealthy people do not move a lot but rather adapt well to circumstances and are committed to both their work and family. Having your own business is a good way to get rich without having to move a lot. Then again I agree that "Chasing the dollar is chasing the wind". I hope to work this into a country music song soon. Thanks!

 

[NCL4701]

You need not have to move a lot to "chase cash". Most wealthy people do not move a lot but rather adapt well to circumstances and are committed to both their work and family. Having your own business is a good way to get rich without having to move a lot. Then again I agree that "Chasing the dollar is chasing the wind". I hope to work this into a country music song soon. Thanks!

PM me for the address to send me my royalty checks.

 

[Old_Paint]

I think what NCL4701 said best matches my intent when I left home and when I first got married. But, the difference was, unlike him, I didn't have a partner on the same page with me. My first wife was lazy, and a spend-thrift. If I made a buck, she spent two. I looked around one day, and found we had nearly $30K in credit card debt that she'd generated by A.) not paying the bills related to my travel, but were yet reimbursed through my paycheck, and B.) dishonesty of getting more cards as each maxed out using my credit score. All of the cards were in my name, and I'd only signed for ONE. But, because I'd included her as a card holder on that one, it made it pretty easy for her to get another, and she actually forged my name to the aps. Needless to say, I was a little bent outta shape, and when I pulled up those roots, things shook in Australia. Literally.

Bottom line is, you can want the dollar, you can want the roots, but you'll have NEITHER if your partner isn't of like mind and ambition. I missed that target in my first marriage, but the second has been bliss. If you cannot get them on the same page, there will always be strife and distrust from BOTH sides. I didn't know what I was really missing until I remarried. The best part of it is that if your marriage is good and you're blessed to have someone with the same goals and targets, you can be pretty happy no matter where you are. I know I am.

 

[old and tired]

Have a friend that got a 2 year degree in sonography bounce between UNC and Duke each time getting paid extra money for doing the same job. Duke and UNC finally entered into an "agreement" NOT to hire from each other's nurses. She went from something like $40k to over $80k, I think she did it 5 or 6 times. Since it was 30 minutes between the two, she never had to move!!

 

[Henro]

You need not have to move a lot to "chase cash". Sink roots AND chase the dollar. Most wealthy people do not move a lot but rather adapt well to circumstances and are committed to both their work and family. Having your own business is a good way to get rich without having to move a lot. Then again I agree that "Chasing the dollar is chasing the wind". I hope to work this into a country music song soon. Thanks!

I was never smart enough to follow your suggestions...which are likely right on.

But at least we did well enough to live the same now in retirement as we did when I was working, so all is not lost!

I do think though, that to really maximize your income you do need to open yourself to the entire country's employment market, not just local...something I consciously decided not to do. Unless you become an entrepreneur, which few end up doing successfully. But not impossible...

 

[Steppenwolfe]

Deep roots in Raleigh, we've only own one house... now have an extra 28 acres and house in the South Western Virginia by a very dear friend. Still have the same job for 30 years. Had a boss that treated me better than I could ever ask for. He got me raise after raise. I didn't even think about the pension way back when... But boy did I get lucky in that respect.

SW Virginia is where my wife and I decided to "Sink Roots" after 22 years outside of Charlotte, and a dozen years in central PA. Best decision we ever made. I still work nationwide in construction, but not as far and as much anymore.

 

[old and tired]

SW Virginia is where my wife and I decided to "Sink Roots"...

We're growing another set of roots just outside of Hillsville. Our plan was to retire here but we spent part of a winter up here, just the two of us... not sure both of us would survive a full winter!!! ... and since she does the cooking, my chances of surviving is pretty slim!?!!? Been around in this area a bunch since 1989, helped my friend build his house up here.

 

[NCL4701]

We're growing another set of roots just outside of Hillsville. Our plan was to retire here but we spent part of a winter up here, just the two of us... not sure both of us would survive a full winter!!! ... and since she does the cooking, my chances of surviving is pretty slim!?!!? Been around in this area a bunch since 1989, helped my friend build his house up here.

SW VA is a beautiful area. When I retire and my Dad is gone (if he doesn’t outlast us) our ties to this area will be gone and it’s definitely on the list of places we’ll be looking at for relocation.

 

[RCW]

Spent entire life in two adjoining counties in upstate New York.

Maybe 30+ miles radius, "as the crow flies."

Moved to current locale 30+ years ago.

That was for professional reasons for both of us.

Steady, solid jobs we were trained for, or had training/education for. We've both stayed with it 34 and 36 years.....

As an aside: Got away from some the Lake Effect, in favor of Nor' Easters.....

Why do I live in upstate New York again??!?!

 

[Steppenwolfe]

We're growing another set of roots just outside of Hillsville. Our plan was to retire here but we spent part of a winter up here, just the two of us... not sure both of us would survive a full winter!!! ... and since she does the cooking, my chances of surviving is pretty slim!?!!? Been around in this area a bunch since 1989, helped my friend build his house up here.

I'm 45 minutes east of Hillsville and down the mountain to 1,000 ft. Winters are much milder here.

 

[Fordtech86]

Roots or the dollar?

Neither…set out for other reasons that I don’t care to talk about.

Just blessed to have an amazing wife, 2 wonderful kids, and a great pup.

Oh almost forgot the orange thing in the carport

 

[JimmyJazz]

I think what NCL4701 said best matches my intent when I left home and when I first got married. But, the difference was, unlike him, I didn't have a partner on the same page with me. My first wife was lazy, and a spend-thrift. If I made a buck, she spent two. I looked around one day, and found we had nearly $30K in credit card debt that she'd generated by A.) not paying the bills related to my travel, but were yet reimbursed through my paycheck, and B.) dishonesty of getting more cards as each maxed out using my credit score. All of the cards were in my name, and I'd only signed for ONE. But, because I'd included her as a card holder on that one, it made it pretty easy for her to get another, and she actually forged my name to the aps. Needless to say, I was a little bent outta shape, and when I pulled up those roots, things shook in Australia. Literally.

Bottom line is, you can want the dollar, you can want the roots, but you'll have NEITHER if your partner isn't of like mind and ambition. I missed that target in my first marriage, but the second has been bliss. If you cannot get them on the same page, there will always be strife and distrust from BOTH sides. I didn't know what I was really missing until I remarried. The best part of it is that if your marriage is good and you're blessed to have someone with the same goals and targets, you can be pretty happy no matter where you are. I know I am.

Warren Buffett has said repeatedly that the most important decision you will ever make is who you choose as a spouse. I agree. Are you Australian?

 

[Old_Paint]

Warren Buffett has said repeatedly that the most important decision you will ever make is who you choose as a spouse. I agree. Are you Australian?

No, my wife is, though and she brought three teenagers with her back in 2006 when we decided we either needed to get married, or get apart. The air travel and phone bills were gonna break us if we didn't do one or the other. I could tell you a lot you probably wouldn't want to know about immigration. Ain't none of it easy or cheap is the short version, and EEO workers will screw it up and blame you for it. Don't even get me started on lack of communication between government agencies. She naturalized last year, so now carries a US passport when we travel, and can vote and all that good stuff. She's an American now. All totaled, it cost us nearly 30K by the time she got naturalized, including one round of renewal of her green card and the kids'. So it would be a pretty fair assumption that it's a bad idea to engage me on immigration issues. I'll shut up before I climb up on my soapbox.