(Random thoughts series have nothing to do with analysis of companies, skip it if you like)
What I am going to say will most properly pissed a lot of savvy investors off.
What I am going to say here is run counter to many wealth accumulation rules.
1) Delayed gratification.
Yes, I agree, but we need to make sure our love ones enjoy life if we could afford it. Loans for holidays is a NO-NO, left hand in and right hand out every month? No- No! But we do not have to maximize savings like it is a trophy to be carried home. I consider myself frugal as compare to my in-laws family who is wealthy in my definition. I consider a car a luxury and they a necessity. I still consider a car a luxury, and have been cajoling my wife to give up the car since our son is already 4 years old. $1000 a month is too much for convenience, I always say.
Now, I have a different thought. My family deserve the luxury of a car, if I can afford it, I should continue with it. I need not worry about the rain, and we could get around places fast and comfortably. Why did I want to accumulate wealth? I want to give my family a good life. Why not do it after 10 years, when my wealth can compounded my quickly. I do not know what will happen tomorrow, I want my loved ones to live reasonably well, since I can afford it and I love them. I do not think I am irresponsible here, since I already various insurance and endowment plans to cover my death, sickness and my son university fees. It is not a lot of money, we still need to work, but I do not foresee unreasonable hardship.
2) Budgeting, track your every expenses.
I used to do that zealously when I am a single, when I get married, I realized my money belong to my family, I can't really say no to a weekend meal out. The tracking of every expense just make me very unhappy. Now, I told my wife, calmly that I think certain expenses is unnecessary. She usually respect that. When we went out for dinner with our family, or buy something luxury in my eyes, instead of sulking about the money that could have gone into which undervalued company instead, I count my blessing that I am able to afford the small luxury for my loved ones, and be content with whatever I have. If I have to work longer, or work till the day I drop dead, I am ready, life is just too boring without work.
OK, enough bad habits from me, I am a self-delusive person, I always look on the bright side. Please, do not let me hinder your progress to financial freedom, do 1) and 2) judiciously if you can, I am content with my life and count my blessings everyday.