Klarna, Spotify, Game Pass & Mortgages: Welcome to the Rent-Everything Treadmill

Hey Satsmate Stackers, 

Today, I am going to talk about how owning nothing and being happy is becoming true for many. In today's day and age, we are financing so much, and at the end of the day, we don't own anything. Whether it is subscribing to ten things, paying your rent/mortgage, or being stuck in a payment doom loop, many are struggling for true ownership of things. In today's podcast, I dive into this in detail. Specifically, I go over the following: 

• A society of renters, where we are perpetually on a subscription model
• Thinking back, I realized there are many things that I don’t actually own
• I’m at the point where I am realizing that after 4 years of paying for Game Pass, I don’t have a single game out of it
  • Same thing with over a decade of Spotify purchases
  • Cloud storage
  • Fitness, Food, Entertainment, and renting
  • Even education, like Udemy or Coursera
• Realizing you don’t own anything when you cancel is truly sad - and it is something I faced recently
• I wish we moved to a society of ownership, and not perpetual renting
• It's something where if you step back and look at your outlays every month, you start to realize, am I really going to spend 10s of thousands of dollars over my life, to own nothing in the end?
• I’m realizing it a bit with owning a home (50-Year example), Auto (15-Year Loan Example), and where I’d be if I bought instead of rented
  • To be fair, owning a home may not make sense with taxes, maintenance, insurance, and HOAs, where you are perpetually a renter anyways
• As I am 30 and thinking of renting again, I realize if I take out a 30-year mortgage at 30 years old, I will pay it off…
  • If I want to buy 40, I will be 70. I don’t want to be a renter when I am 70/80/90, I want to be able to own my thing
• Klarna and Afterpay are making it so people don’t feel the full upfront cost of something, and it is very seductive, until you see the big picture
• Not owning anything means the winners are the companies
  • The shareholders are the winners, the elite are the winners, and the asset holders are the winners
• The average person is the loser, with fleeting hamster wheel enjoyment
• There is no way, in my opinion, to be happy being on a hamster wheel, because you can’t chill
• People are striving to own, but they find it hard because they are in a paycheck-to-paycheck hamster wheel cycle

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Best Regards, 

SatsMate Stack

Referral to Stacker News: Circular economy with bitcoin discussions involved!  https://stacker.news/r/SatsMate

Primary Bitcoin Buys Through Strike: The primary place I go to buy Bitcoin. https://invite.strike.me/2MSTYG 

Secondary Bitcoin Buys Through Fold: A nice exchange w/ rewards & bitcoin buys.
https://use.foldapp.com/r/HTFKVY9L

Financial Disclaimer: Nothing stated in this video is a recommendation from SatsMate to buy or sell a particular security or asset class. It would help if you wisely considered your tolerance for risk, time horizon, and financial goals before investing. With investing, you risk losing money, always read an invest