I think it's a moral conflict, but not because of the price strictly -- but because of where that money could be used instead.
For example, my down payment could buy my Mom's house, my Dad's house, and my brother's house. The conflict is -- how can I spend that much money on myself? Instead, I could retire both of my parents, and set my brother up for success at the cost of continuing my current life as usual.
It doesn't seem like a huge burden to me to continue my life as usual. And it would be completely life changing to the rest of my family (the people I care most about) to allocate my money in a different way.
On an infinitely smaller scale -- this is similar to the Bill and Melinda Gates Foundation. How much money should you invest now to help people in the future vs giving people money now?
When I was 20, I was giving my family 10s of thousands of dollars a year. The cost of that was that I delayed my career advancement to the point I could be making an extra $100-200k per year now. Sure, I'll get to that point in 2 years time.
But was it really worth it to spend $30k to pay for some weddings and refrigerators and medical expenses 8 years ago to miss out on $300K+ in earning potential over that time period? No. Definitively.
Is it worth it to give my family $200k now when I hope to turn that into a million+ in 5 years? I don't think so. How do they see it? Well, they want the $200k now. Maybe that type of vision is why we're in different situations. Who knows?
For example, my down payment could buy my Mom's house, my Dad's house, and my brother's house. The conflict is -- how can I spend that much money on myself? Instead, I could retire both of my parents, and set my brother up for success at the cost of continuing my current life as usual.
It doesn't seem like a huge burden to me to continue my life as usual. And it would be completely life changing to the rest of my family (the people I care most about) to allocate my money in a different way.
On an infinitely smaller scale -- this is similar to the Bill and Melinda Gates Foundation. How much money should you invest now to help people in the future vs giving people money now?
When I was 20, I was giving my family 10s of thousands of dollars a year. The cost of that was that I delayed my career advancement to the point I could be making an extra $100-200k per year now. Sure, I'll get to that point in 2 years time.
But was it really worth it to spend $30k to pay for some weddings and refrigerators and medical expenses 8 years ago to miss out on $300K+ in earning potential over that time period? No. Definitively.
Is it worth it to give my family $200k now when I hope to turn that into a million+ in 5 years? I don't think so. How do they see it? Well, they want the $200k now. Maybe that type of vision is why we're in different situations. Who knows?