|
Quoted: Yes. If you make a couple hundred a year....which is way above average, but let’s use that, and you live frugally, you can save a few million bucks. But that person is still not rich. They have no choice if they want to replace their income one day. How Else can it possible work? But they are, infact, millionaires. It would take a teacher over a million dollars to retire. She may be a Millionaire but she still has a teachers lifestyle. Beyond pure luck, their is nothing this person can do to frugal their way to real wealth. Scrimping and saving can not do it in almost every case. You must engage in an activity that can produce real wealth. Scrimping and saving can ensure your lifestyle in retirement won’t change or even get a little better or allow for an earlier retirement. Quoted: Quoted: I read it recently, and IIRC the author pointed out that the “millionaires next door” were usually business owners who had above-average incomes. Yes. If you make a couple hundred a year....which is way above average, but let’s use that, and you live frugally, you can save a few million bucks. But that person is still not rich. They have no choice if they want to replace their income one day. How Else can it possible work? But they are, infact, millionaires. It would take a teacher over a million dollars to retire. She may be a Millionaire but she still has a teachers lifestyle. Beyond pure luck, their is nothing this person can do to frugal their way to real wealth. Scrimping and saving can not do it in almost every case. You must engage in an activity that can produce real wealth. Scrimping and saving can ensure your lifestyle in retirement won’t change or even get a little better or allow for an earlier retirement. I love all this "it takes a million dollars to retire". Almost nobody ever gets a million dollars. And yet they retire. Perhaps you live in a rarified world where you need millions of dollars in income to live. Most of the rest of the planet doesn't, so making assertions about what it takes for "a teacher" to retire is kind of silly for someone like you with your Lamborghinis and supermodel harem and 12" dick. Out here in the real world, people retire all the time, and they live ok, and they mostly do it without a million dollars in the bank. |
|
Quoted: I read it recently, and IIRC the author pointed out that the “millionaires next door” were usually business owners who had above-average incomes. The other key is those (successful) business owners also were building equity in their companies in addition to their frugal lifestyles which multiplies their overall net worth. Multiple income/cashflow/equity streams while not making dumb decisions is what I got out of it. Look... I like nice things. I'm on a hobbyist website where the average safe/gun room probably contains 5 figures worth of hardware/ammo/accessories. At the same time, I look at it as I am investing in something tangible - this is not like someone who's going out and renting 26" rims. Tools are the same way - there's tangible value. If shit goes sideways tomorrow, a nice set of hand tools is going to be worth more than a pair of designer jeans. We also work hard to ensure 401K's, other investments, kid's college funds, etc. are taken care of before anything gets spent on "fun". Money is something that can either be the key to everything you've ever dreamed of or the eighth circle of hell. The best advice my father ever gave me, "The greatest force in the Universe is gravity. The second is compound interest. Make sure you're on the right side of the equation." |
|
Quoted: Listen, you came in here and shit on the thread. Now you continue to demand attention and are having a bit of a tantrum about it. Thats you. That’s what you did. I suspect you are OK with that. Cool. You came in her asking about other people who failed. Got mad when I told you to expect the worse. I feel for you. You relish in other peoples sorry. As I said, what comes around goes around. I’ve never seen it not happen. |
|
Quoted: I love all this "it takes a million dollars to retire". Almost nobody ever gets a million dollars. And yet they retire. Perhaps you live in a rarified world where you need millions of dollars in income to live. Most of the rest of the planet doesn't, so making assertions about what it takes for "a teacher" to retire is kind of silly for someone like you with your Lamborghinis and supermodel harem and 12" dick. Out here in the real world, people retire all the time, and they live ok, and they mostly do it without a million dollars in the bank. I am not sure why you are taking what I am saying the way you are. I am not trying to say what you think I am. I am literally pointing out math. Not knocking anyone. Not talking down to anyone. If you make 60 grand a year, you need more than a million bucks to make that a year without working anymore. That is all. That is factual. I realize most people don’t replace their income in retirement. I don’t know what else to say other than I hope you realize what I am saying and it isn’t what you thought. |
|
Quoted: I am not sure why you are taking what I am saying the way you are. I am not trying to say what you think I am. I am literally pointing out math. Not knocking anyone. Not talking down to anyone. If you make 60 grand a year, you need more than a million bucks to make that a year without working anymore. That is all. That is factual. I realize most people don’t replace their income in retirement. I don’t know what else to say other than I hope you realize what I am saying and it isn’t what you thought. Quoted: Quoted: I love all this "it takes a million dollars to retire". Almost nobody ever gets a million dollars. And yet they retire. Perhaps you live in a rarified world where you need millions of dollars in income to live. Most of the rest of the planet doesn't, so making assertions about what it takes for "a teacher" to retire is kind of silly for someone like you with your Lamborghinis and supermodel harem and 12" dick. Out here in the real world, people retire all the time, and they live ok, and they mostly do it without a million dollars in the bank. I am not sure why you are taking what I am saying the way you are. I am not trying to say what you think I am. I am literally pointing out math. Not knocking anyone. Not talking down to anyone. If you make 60 grand a year, you need more than a million bucks to make that a year without working anymore. That is all. That is factual. I realize most people don’t replace their income in retirement. I don’t know what else to say other than I hope you realize what I am saying and it isn’t what you thought. As with most of you billionaires on arfcom, you're either living in fantasy world, or you have no idea how the real world works. |
|
Quoted: You came in her asking about other people who failed. Got mad when I told you to expect the worse. I feel for you. You relish in other peoples sorry. As I said, what comes around goes around. I’ve never seen it not happen. I think it is awesome that you are the karma police. Fuck money. I want that super power! Captain Karma! The harbinger of your demise over petty shit that pisses him off! When he yells at a cloud, it’s chances of turning into fog and seeing the sights are over! You’ll see! You’ll all see! Now get off my lawn or you’ll all grow up to be unemployed rodent proctologist’s! (Sinister laugh) |
|
Quoted: Out here in the real world, people retire all the time, and they live ok, and they mostly do it without a million dollars in the bank. That was true when most retirees were people with defined-benefit pensions who died in their early/mid-70s. Nowadays, much fewer people have defined-benefit pensions, and they are living until their late 80s and early 90s much more regularly. That makes it easier to outlive their retirement savings. This is a growing trend and a growing problem as more elderly retirees spend more time in hideously-expensive assisted living facilities and skilled nursing facilities. |
|
Quoted: As with most of you billionaires on arfcom, you're either living in fantasy world, or you have no idea how the real world works. I think you are still missing my point. I am not going to explain it again, but I am going to implore you to believe me that I did not have the intentions you believe I had. |
|
Quoted: I think it is awesome that you are the karma police. Fuck money. I want that super power! Captain Karma! The harbinger of your demise over petty shit that pisses him off! When he yells at a cloud, it’s chances of turning into fog and seeing the sights are over! You’ll see! You’ll all see! Now get off my lawn or you’ll all grow up to be unemployed rodent proctologist’s! (Sinister laugh) “The living beyond your means thread. Share your best stories....” You’re a parasite. Feeding off others misery. Go away, you are not needed here. ETA: fixed my grammar. |
|
Quoted: That was true when most retirees people with defined-benefit pensions who died in their early/mid-70s. Nowadays, much fewer people have defined-benefit pensions, and they are living until their late 80s and early 90s much more regularly. That makes it easier to outlive their retirement savings. This is a growing trend and a growing problem as more elderly retirees spend more time in hideously-expensive assisted living facilities and skilled nursing facilities. Quoted: Quoted: Out here in the real world, people retire all the time, and they live ok, and they mostly do it without a million dollars in the bank. That was true when most retirees people with defined-benefit pensions who died in their early/mid-70s. Nowadays, much fewer people have defined-benefit pensions, and they are living until their late 80s and early 90s much more regularly. That makes it easier to outlive their retirement savings. This is a growing trend and a growing problem as more elderly retirees spend more time in hideously-expensive assisted living facilities and skilled nursing facilities. So what about all these 80 year old people I know who aren't dead and aren't living in the gutter? How in the world did they manage to retire without millions of dollars in the bank? Maybe... and hear me out here, I know it's complicated, but maybe it doesn't take millions of dollars to retire if you don't have to live like an arfcom billionaire! |
|
Quoted: The millionaire next door is a fantastic book but deeply flawed. It would take forever to point out why but math is math. Among their chief conclusions is that normal working folks that live frugally can save enough money to retire with a million or two. Yes. But all that really does is replace their income. It can’t work any other way. Second, there are statistically few jobs that you can actually save your way to real wealth. (Deca millionaire or better) Third, yes, lots of well off people have some frugal tendencies. They are also blowing through 6 figures of gas a month on their plane....but everyone draws some really bad conclusions about them and wealth in general when they see them buying a generic brand potato chips. Most of the most extravagant things are done out of the public eye. You can’t tell the difference between a 500k surgeon in a Benz and a billionaire in a benz. But ones life savings couldn’t buy a month of the other guys life, that is mostly out of public view. The “they didn’t get rich by blowing their money” is mostly a lie. You really can’t frugal your way to rich. . You have to engage in the activities that can produce true wealth. IE, it is impossible for 98% of people to frugal their way to 10 or more million bucks. You have to do something that produces that kind of money. Quoted: Quoted: Anyone interested in this should read ‘The Millionaire Next Door’. It will shift your way of thinking about how rich people spend their money. The millionaire next door is a fantastic book but deeply flawed. It would take forever to point out why but math is math. Among their chief conclusions is that normal working folks that live frugally can save enough money to retire with a million or two. Yes. But all that really does is replace their income. It can’t work any other way. Second, there are statistically few jobs that you can actually save your way to real wealth. (Deca millionaire or better) Third, yes, lots of well off people have some frugal tendencies. They are also blowing through 6 figures of gas a month on their plane....but everyone draws some really bad conclusions about them and wealth in general when they see them buying a generic brand potato chips. Most of the most extravagant things are done out of the public eye. You can’t tell the difference between a 500k surgeon in a Benz and a billionaire in a benz. But ones life savings couldn’t buy a month of the other guys life, that is mostly out of public view. The “they didn’t get rich by blowing their money” is mostly a lie. You really can’t frugal your way to rich. . You have to engage in the activities that can produce true wealth. IE, it is impossible for 98% of people to frugal their way to 10 or more million bucks. You have to do something that produces that kind of money. True. Money in vs. money out. You can limit money out as much as possible, but it will never beat increasing your income (and still being financially disciplined) by more than your ability to frugalize. I think the book's biggest flaw is they somewhat conflate a $70k household with a $250k household living similar lifestyles (not necessarily intentionally). The $250k household will be able to significantly out-save, out-invest, and out-opportunity the $70k household. A household earning $70k can do just fine, but a $250k household will significantly outperform them in wealth building and be able to enjoy more luxury along the way (if they choose). And the household earning $1M+ will destroy them both (with discipline). And it just goes up from there. But there are plenty of very high income earners that are tards with money and have a lower net worth than those earning significantly less. If you take the point of the book as "don't be a tard with money and you'll be okay" then you'll get what you're looking for. If you take the point as "you can accumulate $10M on a $70k/yr salary" you'll be disappointed. My parents were frugal, had "regular" (to me anyway) jobs, and are multi-millionaires. They had engineering/science jobs. But they also invested significantly in securities and real estate. And I thought we were poor growing up. Couldn't get them to buy me a pair of Doc Martens boots when they were cool in the 90s to save my life. Store brand everything. But as much as their frugality helped, it was their income and what they did with that income that got them where they are. They've never given me any direct cash, I bought my first car for $500 with money I earned working, but their financial lessons are invaluable (while maybe not ideal). They live a very comfortable lifestyle, but it is essentially they same lifestyle they lived while working, but they have more free time. Their reaching millionaire status didn't suddenly mean they could go buy a 100' yacht lol. That's good enough for me though. |
|
Back when I was working as a casual for some cash while I was studying, there was a girl around the same age as me (~20) who was already driving a decent car and had no savings at all since she would spend it on partying and shopping. She was earning less than me, since I made way more commission, but even then it wasn't that much. She ended up taking a $40k high interest loan to buy a "hotter" car, since her current car was "lame", and spent the remainder on holidays and shopping. Everyone in the store was dumbfounded at her stupidity. More than 10yrs on, she hasn't changed her spending habits at all, and her income has not progressed. |
|
Quoted: So what about all these 80 year old people I know who aren't dead and aren't living in the gutter? How in the world did they manage to retire without millions of dollars in the bank? Maybe... and hear me out here, I know it's complicated, but maybe it doesn't take millions of dollars to retire if you don't have to live like an arfcom billionaire! You are correct...My late mother retired with less than 10K in the bank and SS and an $80 a month annuity...Her modest home was paid for and she died in 2018 at 83 years old at home. There are millions and millions of people in this country that retire on small amounts of money. They just watch what they spend on and don't buy bolt-ons, dick extensions, three alimonies and 16 differents sets of NODS. I am done buying shit...I have everything I want and need in the toys department...It would be "poors" to the Arfcom McLaren drivers, but I'm good with it. The biggest looming expense for all retirees is some sort of reasonably priced health insurance before medicare kicks in. |
|
Quoted: So what about all these 80 year old people I know who aren't dead and aren't living in the gutter? How in the world did they manage to retire without millions of dollars in the bank? Maybe... and hear me out here, I know it's complicated, but maybe it doesn't take millions of dollars to retire if you don't have to live like an arfcom billionaire! It doesn’t take a million. That was never my point. The point is X number of dollars generates Y return. There is utterly no emotion to that. |
Wife and I were clearing ( pre tax) over $100K per month for many years. I drive a four year old GMC Colorado. We live quite well on our savings and have for fifteen years. I'm drinking a nice glass of champagne right now. It's COVID 19 and we are having a BALL. I'm not remotely interested in "keeping up with the Jones". My CanAn has been in thirty or so states and we shoot matches all over the country. It's unfortunately time to sell and change a few things up. I'm leaving this to the next owner. 
|
|
Quoted: Wife and I were clearing ( pre tax) over $100K per month for many years. I drive a four year old GMC Colorado. We live quite well on our savings and have for fifteen years. I'm drinking a nice glass of champagne right now. It's COVID 19 and we are having a BALL. I'm not remotely interested in "keeping up with the Jones". My CanAn has been in thirty or so states and we shoot matches all over the country. It's unfortunately time to sell and change a few things up. I'm leaving this to the next owner. https://www.AR15.Com/media/mediaFiles/192769/house-1131395.jpg Do you mind sharing what you do/did for a living that brought in over $100K per month? |
|
Quoted: The millionaire next door is a fantastic book but deeply flawed. It would take forever to point out why but math is math. Among their chief conclusions is that normal working folks that live frugally can save enough money to retire with a million or two. Yes. But all that really does is replace their income. It can’t work any other way. Second, there are statistically few jobs that you can actually save your way to real wealth. (Deca millionaire or better) Third, yes, lots of well off people have some frugal tendencies. They are also blowing through 6 figures of gas a month on their plane....but everyone draws some really bad conclusions about them and wealth in general when they see them buying a generic brand potato chips. Most of the most extravagant things are done out of the public eye. You can’t tell the difference between a 500k surgeon in a Benz and a billionaire in a benz. But ones life savings couldn’t buy a month of the other guys life, that is mostly out of public view. The “they didn’t get rich by blowing their money” is mostly a lie. You really can’t frugal your way to rich. . You have to engage in the activities that can produce true wealth. IE, it is impossible for 98% of people to frugal their way to 10 or more million bucks. You have to do something that produces that kind of money. Sure, but the two are not mutually exclusive. Frugality is subjective. |
|
Quoted: Doctor early retirement plan: One wife One house One kid Even better, practice in a mid sized metro in flyover country The pay is higher(sometimes a lot higher) and the cost lower. Doctors tend to flock to the biggest cities and most prestigious institutions...where the pay is among the lowest and the cost the highest. |
Once upon a time, Chango78 lusted after an MP5. So, he went to a gun store and bought a brand new shiny SP5 with his meager savings and credit card and he was happy. The end.  Attached File |
|
Quoted: Sure, but the two are not mutually exclusive. Frugality is subjective. If you make a million a year, you could still live off of 50 grand. Unless you had a purpose for doing so, why would you? I have heard it said the only thing dumber than living beyond your means is becoming the richest guy in the cemetery. There is a math to every amount. Be it 20 grand or 20 million. A point that you should spend more. A point where you are right on track and a point where you are in over your head. . |
|
Quoted: I used to bounce nightclubs in Scottsdale in the early 2000's. Imagine an even phonier version of Jersey Shore, where the term "thirty thousand dollar millionaire" applied to everyone. Everyone. Bunch of fake Rolex's, fake tits, Dior sunglasses 24/7, rented Lambo's. It is the epicenter of douche on a budget. That’s tenthousandaire to you, bro. |
|
A guy at work I know, was making good money. Retired NYPD, decent salary anyway for around here. Single. Honestly I think he gave most of it away. He did a lot for charity. Weirdest shit. Super nice guy, but awful with money. When he transferred I took his office and I started getting the occasional debt collector calling the work line he used to have. |
|
Quoted: Even better, practice in a mid sized metro in flyover country The pay is higher(sometimes a lot higher) and the cost lower. Doctors tend to flock to the biggest cities and most prestigious institutions...where the pay is among the lowest and the cost the highest. Quoted: Quoted: Doctor early retirement plan: One wife One house One kid Even better, practice in a mid sized metro in flyover country The pay is higher(sometimes a lot higher) and the cost lower. Doctors tend to flock to the biggest cities and most prestigious institutions...where the pay is among the lowest and the cost the highest. My dad did the 25k population mid west town. But divorced my mom in the 70’s (4 kids) divorced the 2nd wife badly after 3 years, and is with my step mom since 1987. They did “down size“ the $3mil 7000 square foot mansion to the $3mil 5700 square food house in the 1.5 mil population mid west flyover city. Don’t forget the $800k 53 foot rv they use 3 weeks a year.  And stg1 joined the army for college money age 17-45 |
|
Quoted: During the height of mortgage madness a coworker got himself a brand new, $480,000 condo with a zero down, adjustable rate mortgage, a brand new Tundra, a CPO Audi and a dirtbike. Went on 4-6 vacations a year, spent tens of thousands on furniture, clothes, tools etc. All on $46,000/yr, in 2007. Yeah..... That was sustainable. I made the same money he did and was living in a dumpy rental house, driving a sub $5,000 used truck. I knew what was going on was unsustainable. When the music stopped he got hosed. How did he even make the payments on $885 a week gross? That mortgage payment has to be $2700 a month and A tundra payment alone is gonna be around a quarter of his monthly take home. |
|
I lived it, and a guy I worked with lived it. I was in my early 20s and didn't understand how credit cards and interest worked. "Minimum payment is only $25 a month, shit, I can do that!" I wasn't making a lot of money back then either, probably grossed like $30K/year at best. Off I go buying tons of stupid shit that I didn't need. Laptops, gaming consoles, guns, I didn't understand financing on vehicles so I went way upside down on a vehicle purchase, financed that bitch for like 87 months, etc. I always think of the scene in For the Love of the Game, where Kevin Costner wakes up hungover in the hotel before his game that day, and John C. Reilly sees all these little airline bottles of vodka or whatever laying around and goes "You know, a bunch of little bottles equals one big bottle..." A bunch of little minimum payments equal one big payment, and worst still they don't make any progress against the interest on the cards. I'm 38 now and I don't think I have any of the stuff I bought back then left to be honest, I ended up selling a lot of that shit at a loss to try and buy me some time with the debt collectors. It took me a long time to right the wrongs I did. Being called non stop at work and at home by debt collectors, having the fucking sheriff's deputy come to my house to serve me a summons from a debt collector, taking me to court. It was complete stupidity and misery on me, I had no one to blame but myself. That kinda shit will haunt you for life, fuck that seven year shit the credit agencies say. I get nervous now when I have a couple hundred bucks balance on a credit card today. Fast forward several years later, I'm older and a little wiser, in a new career, pretty financially stable all things being equal. One of my coworkers, who's a pretty good guy at heart, he's ex-mil, medically discharged/retired, on the GI Bill going to school at night and working during the day. $200K home, wife doesn't work, she's disabled due to rheumatoid arthritis, two kids. Kids go to private school. The day before payday, he's on our HR website/app, looking at his pay stub, budgeting money in advance to pay the mortgage, car notes (his wife had a paid for four or five year old SUV, he had a little four door economy car he was paying on, dude lived literally five minutes from the office, he could have walked or rode a bicycle to work if he really wanted to, but he wanted a truck in the worst kinda way so he went in upside down rolling whatever was left in that car into a 2500 Ram diesel. Later on he traded or sold the wife's SUV and bought a new Tahoe for her. He had the Ram for about a year, it started having engine problems, so he somehow traded the Ram and the upside down note he had on his previous car in on a Cadillac for his wife, he took over the Tahoe from her, so I think he ended up paying for like four cars but actually having possession of two, he also bought a used Harley sometime during this whole transgression, didn't even have a motorcycle license or knew how to ride one), private school for the kids, credit cards, he was a vape bro so he'd spend money on batteries and juice and such for all that. Once he gets done budgeting and setting up all his automatic payments and stuff, he's tapped out until next pay day. He had a death in the family, grand parent or something, this was around the time that Ram truck was giving him problems. He needed to get to the airport to catch a flight back home for the funeral and was tapped out for the week. Another guy we worked with loaned him money to catch a ride on a shuttle bus to the Atlanta airport, dude's like "Thanks bro, I'll pay you back!" Fast forward a month or so later, it's tax season, we're talking about filing taxes and getting refunds and all and this dude goes on about the monster refund he got, it was enough for him to buy a new Macbook Pro and some vape widgets or something, and the guy who loaned him money to get to the airport, to go home for a family member's funeral, looked at him like he was crazy. He always had the nicest and best of everything, but he'd spend every dime he made and max out every credit card he had to get there. When he had that death in the family, he mentioned he was hoping he'd get some inheritance off it, his family is well off, they run a fuel or oil business back where he was from, and he was theorizing what kind of money he'd get. He mentioned some crazy credit card debt, like $20K or something, and that he should get at least that so he can pay that card off and it'd make dealing with the other ones easier. |
|
Quoted: Shoot we have officers that have so many toys/payments if one shift of their extra duty gig gets cancelled they are sweating bullets I worked the credit side for a store in downtown Detroit back in the 70's. First lesson learned was cops are bad risks to pay back the stuff they buy on credit. So always get 50% down on any purchase. |
|
Quoted: Do you mind sharing what you do/did for a living that brought in over $100K per month? Sure. Wife and I started a small business that was housing related and it GREW. We went from a half/garage to 52,000 sq. ft. in six years. Ran it for 24 more and sold out. We made plumbing products that sold into the publicly held home builder world. They buy a LOT of sinks, vanities, bathtubs, shower pans and more and more. I found some one that wanted the business more than I did and fifteen years later He's still at it. |
|
Quoted: So what about all these 80 year old people I know who aren't dead and aren't living in the gutter? How in the world did they manage to retire without millions of dollars in the bank? Maybe... and hear me out here, I know it's complicated, but maybe it doesn't take millions of dollars to retire if you don't have to live like an arfcom billionaire! Quoted: Quoted: Quoted: Out here in the real world, people retire all the time, and they live ok, and they mostly do it without a million dollars in the bank. That was true when most retirees people with defined-benefit pensions who died in their early/mid-70s. Nowadays, much fewer people have defined-benefit pensions, and they are living until their late 80s and early 90s much more regularly. That makes it easier to outlive their retirement savings. This is a growing trend and a growing problem as more elderly retirees spend more time in hideously-expensive assisted living facilities and skilled nursing facilities. So what about all these 80 year old people I know who aren't dead and aren't living in the gutter? How in the world did they manage to retire without millions of dollars in the bank? Maybe... and hear me out here, I know it's complicated, but maybe it doesn't take millions of dollars to retire if you don't have to live like an arfcom billionaire! Come talk to me once you start seeing significant numbers of people in their 60s dipping into their own retirement funds to pay for their 85 or 90yo parents skilled nursing facility or dementia ward at $9000/m for 2-3 years. It is happening. Just because you have not personally seen it doesn’t mean it isn’t happening. |
|
Quoted: Where would I start?  Family members who ignored my advice and called me a debby downer when I would not complete the fivesome for a trip thru Europe (I was 18 months out of school). They bought airline tickets, rooms, tour packages, meals on their credit cards but forgot to pay the minimum due, which triggered more fees which triggered penalties, which triggered the default interest rates. I took one collect call from them, and made one $500 payment to my cousin's credit card but it was still not enough. The bank froze the card, everyone else's cards were maxed out. I was able to send then $300 via western union so they could eat for a day or two. They had previously dealt with their frugal parents as if the parents were idiots. (This was all pre internet, circa 1993?) They got home when my idiot cousin agreed to let me take his one yr old Honda / Acura Legend where I would make the next 2 yrs of payments and own the car outright. He was already AT LEAST $5k into the car. I wired them $2.2k so they could get home 10 days earlier. Holy shit. I’ve been in pretty shitty spots financially (and still am) & done some really stupid shit (I got better ), but I’ve never been rich enough or had enough credit to be that stupid.
|
|
Quoted: It's unfortunately time to sell and change a few things up. I'm leaving this to the next owner. Attached File Looks like a nice place! I'm looking to move south, maybe I should consider Texas. |
|
Quoted: Sure. Wife and I started a small business that was housing related and it GREW. We went from a half/garage to 52,000 sq. ft. in six years. Ran it for 24 more and sold out. We made plumbing products that sold into the publicly held home builder world. They buy a LOT of sinks, vanities, bathtubs, shower pans and more and more. I found some one that wanted the business more than I did and fifteen years later He's still at it. Quoted: Quoted: Do you mind sharing what you do/did for a living that brought in over $100K per month? Sure. Wife and I started a small business that was housing related and it GREW. We went from a half/garage to 52,000 sq. ft. in six years. Ran it for 24 more and sold out. We made plumbing products that sold into the publicly held home builder world. They buy a LOT of sinks, vanities, bathtubs, shower pans and more and more. I found some one that wanted the business more than I did and fifteen years later He's still at it. That is awesome man you hit it out of the park. Catch a fish for me in your lake. |
|
So much depression from both sides of the aisle in this thread. I live life this way... my debts are all paid always. Never in my life been late on a bill even. CC balances get paid off the next month when possible and never carry a balance more than 3 months. We save in a multitude of ways, from tangible assets like a $80k+ firearms collection to Roth and TSP. Vehicles are financed...who gives a shit. Life is too short to drive a boring shitbox. Paying cash for a $40k vehicle is dumb. Toys are purchased. ATV’s for the wife and boys...motorcycle for me. Bought a camper this year...but used some common sense and only got what we needed. It was a cheap $13500 model. What’s the point in living if you can’t have fun. We have nice things but not always the latest and greatest. We aren’t compelled to go out and buy the 287” flat screen TV when it’s released. We keep our phones for 4-5 years. We don’t piss away money on things that do not hold value except for some toys for the kids. They’re all future goodwill junk but it’s fun for them. We are handy and put sweat equity into stuff. Made $25k on our last house that we lived in for 18 months/flipped after spending less than $4k on improvements. Live life responsibly but to the fullest. Can’t take any of this junk with you when you go...including paper with dead presidents printed on one side. Planning for your future doesn’t hurt either. I’ll retire at 41 with a mil pension, Tricare for the entire family at leas than $150/month, and be young enough to start a second career after a few years break. My wife doesn’t even work right now but will go back next year as a SJW social worker while she works on her PhD in Psychology. By the time I retire she’ll have her doctorate and will be making decent money as well. We are both set to work until about 55 and call it quits, baring any significant life changes. |
|
Quoted: So much depression from both sides of the aisle in this thread. I live life this way... my debts are all paid always. Never in my life been late on a bill even. CC balances get paid off the next month when possible and never carry a balance more than 3 months. We save in a multitude of ways, from tangible assets like a $80k+ firearms collection to Roth and TSP. Vehicles are financed...who gives a shit. Life is too short to drive a boring shitbox. Paying cash for a $40k vehicle is dumb. Toys are purchased. ATV's for the wife and boys...motorcycle for me. Bought a camper this year...but used some common sense and only got what we needed. It was a cheap $13500 model. What's the point in living if you can't have fun. We have nice things but not always the latest and greatest. We aren't compelled to go out and buy the 287" flat screen TV when it's released. We keep our phones for 4-5 years. We don't piss away money on things that do not hold value except for some toys for the kids. They're all future goodwill junk but it's fun for them. We are handy and put sweat equity into stuff. Made $25k on our last house that we lived in for 18 months/flipped after spending less than $4k on improvements. Live life responsibly but to the fullest. Can't take any of this junk with you when you go...including paper with dead presidents printed on one side. Planning for your future doesn't hurt either. I'll retire at 41 with a mil pension, Tricare for the entire family at leas than $150/month, and be young enough to start a second career after a few years break. My wife doesn't even work right now but will go back next year as a SJW social worker while she works on her PhD in Psychology. By the time I retire she'll have her doctorate and will be making decent money as well. We are both set to work until about 55 and call it quits, baring any significant life changes. Happiness in life comes from balance. There is a sensible medium between maxed out credit cards and the miser who still has the first nickel he made. I work too much damn much to drive a shit box car and live in a van down by the river. But I'm also not going to stress about knocking out bills each month. These threads are a good reminder when I think I'm not saving enough money, paying down my mortgage quick enough, or questioning if I should of spent the money I did on a new toy. Life's short, enjoy it within reason. |
|
Got married in 2006 or 2007 (I honestly don't remember) to a girl with no financial sense and horrible credit. Bought a (cheaply) flipped house in a crap town. She liked to spend money and not work. Lots of $ on normal CC's and store charge cards. Got divorced (obviously) after a few years of me being the asshole for finally saying "no, we can't afford that". The divorce was quick and easy but part of it (that we wrote up and agreed to on our own ) was that she kept all the stuff she bought and I pay off all the cards (which were in my name anyway). All the cards plus paying the lawyer to do the paperwork left me about $17k in the hole. I worked every hour of OT I could and got caught back up in a year or so. |
|
I remember reading a quote of the day during the last recession (while logging into the Bloomberg system) Wealth is not defined about how much you make but how you spend it I'm going to try to retire early and move somewhere that I can afford to be poor (experiment to live on $500/month). I'm hoping if I live long enough that I'll have affordable their version of "assisted living". I have tried to explain the concept of "living beyond your means" but that usually only works in places that have cheap debt. Most people I know there live month to month and have nothing to show for it. It is dangerous when possessions start owning you. |
|
Quoted: Is this the thread where everyone pretends they have no debt, pay cash for everything, invest 50% of their income, and never buy new cars? Wait, we're supposed to pretend to do that? Oh shit, sorry guys, I take back half of everything I've said on here, at least. |
|
Quoted: Happiness in life comes from balance. There is a sensible medium between maxed out credit cards and the miser who still has the first nickel he made. I work too much damn much to drive a shit box car and live in a van down by the river. But I'm also not going to stress about knocking out bills each month. These threads are a good reminder when I think I'm not saving enough money, paying down my mortgage quick enough, or questioning if I should of spent the money I did on a new toy. Life's short, enjoy it within reason. Quoted: Quoted: So much depression from both sides of the aisle in this thread. I live life this way... my debts are all paid always. Never in my life been late on a bill even. CC balances get paid off the next month when possible and never carry a balance more than 3 months. We save in a multitude of ways, from tangible assets like a $80k+ firearms collection to Roth and TSP. Vehicles are financed...who gives a shit. Life is too short to drive a boring shitbox. Paying cash for a $40k vehicle is dumb. Toys are purchased. ATV's for the wife and boys...motorcycle for me. Bought a camper this year...but used some common sense and only got what we needed. It was a cheap $13500 model. What's the point in living if you can't have fun. We have nice things but not always the latest and greatest. We aren't compelled to go out and buy the 287" flat screen TV when it's released. We keep our phones for 4-5 years. We don't piss away money on things that do not hold value except for some toys for the kids. They're all future goodwill junk but it's fun for them. We are handy and put sweat equity into stuff. Made $25k on our last house that we lived in for 18 months/flipped after spending less than $4k on improvements. Live life responsibly but to the fullest. Can't take any of this junk with you when you go...including paper with dead presidents printed on one side. Planning for your future doesn't hurt either. I'll retire at 41 with a mil pension, Tricare for the entire family at leas than $150/month, and be young enough to start a second career after a few years break. My wife doesn't even work right now but will go back next year as a SJW social worker while she works on her PhD in Psychology. By the time I retire she'll have her doctorate and will be making decent money as well. We are both set to work until about 55 and call it quits, baring any significant life changes. Happiness in life comes from balance. There is a sensible medium between maxed out credit cards and the miser who still has the first nickel he made. I work too much damn much to drive a shit box car and live in a van down by the river. But I'm also not going to stress about knocking out bills each month. These threads are a good reminder when I think I'm not saving enough money, paying down my mortgage quick enough, or questioning if I should of spent the money I did on a new toy. Life's short, enjoy it within reason. Exactly. |
|
Quoted: I remember reading a quote of the day during the last recession (while logging into the Bloomberg system) Wealth is not defined about how much you make but how you spend it I'm going to try to retire early and move somewhere that I can afford to be poor (experiment to live on $500/month). I'm hoping if I live long enough that I'll have affordable their version of "assisted living". I have tried to explain the concept of "living beyond your means" but that usually only works in places that have cheap debt. Most people I know there live month to month and have nothing to show for it. It is dangerous when possessions start owning you. $500 a month will be quite difficult depending on what amenities you want. Always factor in health care...Unless you are on the exchange, it will be difficult. |
|
Quoted: Happiness in life comes from balance. There is a sensible medium between maxed out credit cards and the miser who still has the first nickel he made. I work too much damn much to drive a shit box car and live in a van down by the river. But I'm also not going to stress about knocking out bills each month. These threads are a good reminder when I think I'm not saving enough money, paying down my mortgage quick enough, or questioning if I should of spent the money I did on a new toy. Life's short, enjoy it within reason. We are on the same page... |
|
Quoted: That is horrible financial math. The VA, like the military, is a horrible deal for specialist docs from a financial standpoint. The opportunity costs, no matter how you do the math, is 7 figures. The work load at the VA is the lowest though. I'm not saying they come out ahead, or even close to even. I'm just saying that it doesn't suck. Especially if .gov pays a few hundred grand of your student loans. I never saw a cardiologist routinely show up at the hospital after 0900 in the "real" world.... |
|
Quoted: Once upon a time, Chango78 lusted after an MP5. So, he went to a gun store and bought a brand new shiny SP5 with his meager savings and credit card and he was happy. The end. https://www.AR15.Com/media/mediaFiles/495488/20200525_185848_jpg-1432935.JPG 
|