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Old 12-06-2007, 12:00 AM
 
3,567 posts, read 7,516,466 times
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I have so much more cash than I know what to do with. I tend to live simply only because for many years it was an absolutely critical necessity. When I returned to Chicago and began practicing law, however... especially after making partner... Well, so much money, no idea what to do with it all.

I spend horrifying sums of money on clothing, and that's really it. The only other "nonsimple" living I have is a tendency for things that are small but add up: taxis, having someone else do my shopping for me, my laundry bill (someone else does all of my laundry, every last sock), and the tendency in summer to spend large sums to entertain friends and colleagues.

Greenie, I'll be PMing you sometime in the future; I need to get caught up with you and also talk to K about shoes.
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Old 12-06-2007, 06:59 AM
Status: "I cannot wait for the heat to break..." (set 6 days ago)
 
Location: Where the sun likes to shine!!
20,368 posts, read 25,499,640 times
Reputation: 87958
My dh and I live well within our means. We never spend foolishly. My dh made a choice when he was young after he saw people retire and they were too old to enjoy it. My dh didn't want to be like that. He wanted to be able to be young enough to enjoy retire-
ment.

He has always had his own businesses so he wouldn't have to rely on other people for his pay. In doing this he was able to retire at 39. We've known each other since we were kids but we got together whan he was about 40. People always say we are too young to be retired and I say my dh is smart and I'm lucky. He He.

We've been able to do so many things together these past 10 years. Of course we are always looking at ways to make more money b/c it's fun. We had a roller skating rink for a few years, we built a house, we did some house flipping for a few years-which we loved doing together and now we travel the country living in our motorhome.

We have absolutely no stress. We don't have a house anymore b/c we live on the road. We can go where we want and do what we want everyday.

We really enjoy being with each other-we are best friends. We don't go out to eat b/c I love to cook, we don't go on any vacations b/c we are already traveling, and we don't exchange any gifts b/c for us every day is a holiday. Lifa is great. We don't want many "things" b/c that just ties you down and gives you more responsibility.

We live a simple life b/c we don't rely on "things" to make us happy.

Lisa
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Old 12-06-2007, 07:24 AM
 
201 posts, read 832,151 times
Reputation: 81
Quote:
Originally Posted by sunsprit View Post
You're on the right track, greenie. Freedom is what it's all about.

Live far below your means, keep it simple .... and enjoy the time and opportunities that life brings you.

Your finances will fall into place when you're not pi**ing all the money away on a good time or trinkets. Spend your dough on hard goods that you need and or things that will give you a return on investment down the road.

I started with nothing but the work ethic and savings attitude lessons of people who were hard hit by the depression ... who bought nothing except what they could pay cash for.

Along the way, I got to enjoy life and not be a slave to any job or work situation. All the while, I invested most of what I earned because I didn't need to impress anybody or myself with the latest toy or foolish expense.

OH, and my portfolio now includes several income properties, investment income, a fleet of vehicles (cars, motorcycles, airplane, boats, trucks, etc), the farm/ranch I live at, and a large second home in a Colorado resort town ... all paid for in full. Any single sector of my investments or income properties generates more than enough income for me to live on at the ranch. By keeping it simple today, we're still happy and able to indulge in our organic farming and ranching ....

Not too bad for a kid that blew off college as a waste of time and interference with my sailing, flying, fishing, motorcycling, traveling, camping, etc ....

I've seen way too many people hop onto that earn and spend big bucks carousel ... most of them are miserable and unhappy, stressed out chasing those endless big bucks they must have to keep up appearances while they fool themselves and their friends that it all means something. It doesn't have to be that way.

Good luck and best wishes for success on your new found freedom.

PS ... you might want to check out the "retirement" forum. Lots of good advice from several posters there, too.


Im a slave to my job. I dont own a house, because I couldnt afford one. 99% of things I have are second or third hand, and most of that was given to us as gifts. I dont eat out, I watch the heat/air, etc etc. I havent had a new article of clothes that Ive purchased in 6 years. My Mom ends up feeling guilty because my clothes are thread bare and has purchased most of my newer clothes that I have.

I have just enough descretionary income a month to save it so I can put it back out when my car breaks down.

I think its a gross assumption to believe that everyone who is a slave to the job automatically is just trying to keep up with the Jones'. Maybe they are just simply poor.
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Old 12-06-2007, 08:50 AM
 
Location: Southwest Missouri
1,921 posts, read 5,554,055 times
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Quote:
Originally Posted by SpeedyAZ View Post
So with this new salary, I might be able to live a bit more financially secure (put more money in the bank) and also a little more comfortably and able to have fun without worrying about the $$ I'm spending.
Speedy, don't take offense to my comments because they're intended to offer a different perspective and not to offend you.

Making more money won't chance your current lifestyle of living paycheck to paycheck. You'll simply increase your expenses to go along with your influx in pay. In fact, your situation will likely become more dangerous because you'll adapt your lifestyle to the higher income and be at much greater risk of financial disaster if you were to lose that job and not readily match the pay elsewhere.

A lot of people go broke talking about how they're going to change their habits in the future. Don't be one of them! Change your habits NOW and don't bank on potential income to fund your savings/retirement.
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Old 12-06-2007, 09:01 AM
 
Location: in drifts of snow wherever you go
2,493 posts, read 3,063,564 times
Reputation: 692
Quote:
Originally Posted by Lethal_Poison View Post
I think its a gross assumption to believe that everyone who is a slave to the job automatically is just trying to keep up with the Jones'. Maybe they are just simply poor.
Lethal,

It can be very tough to make ends meet. The key is that no matter how much you make, to not spend more than you make. We live in a credit world where things are so easily had. I made a big mistake years ago by going back to school to get a degree I didn't need and incurring a lot of student loan debt. I was surrounded by people who encouraged me to take on the debt, like it was perfectly normal to do. I wish someone had advised me differently. Took me years to turn around and face that debt. At the time I never understood the sacrifices I'd have to make down the line to repay that loan. I was in fact stealing from my future.

greenie
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Old 12-06-2007, 09:52 AM
Status: "I cannot wait for the heat to break..." (set 6 days ago)
 
Location: Where the sun likes to shine!!
20,368 posts, read 25,499,640 times
Reputation: 87958
Quote:
Originally Posted by Lethal_Poison View Post
Im a slave to my job. I dont own a house, because I couldnt afford one. 99% of things I have are second or third hand, and most of that was given to us as gifts. I dont eat out, I watch the heat/air, etc etc. I havent had a new article of clothes that Ive purchased in 6 years. My Mom ends up feeling guilty because my clothes are thread bare and has purchased most of my newer clothes that I have.

I have just enough descretionary income a month to save it so I can put it back out when my car breaks down.

I think its a gross assumption to believe that everyone who is a slave to the job automatically is just trying to keep up with the Jones'. Maybe they are just simply poor.
Lethal,
Life can be really tough especially when you are young. I know from growing up in NY that is was just too expensive to ever get ahead. My dh moved out of NY in the late 80's and never looked back. I moved out in the 90's. It was just too hard to get ahead. He started over in Fl and I started over in NC. The pay was less but the cost of living was much less at the time.

Life is definitely a learning experience. When we were younger we thought we were living frugally but we still spent money on sodas at the convenience stores, smoked cigarettes, and ocassionally went out to drink(not much) but we wasted a lot of money that we didn't realize. There were times when I worked 3 different jobs just to be able to live but at the time I could've been more frugal.

Good luck with all your efforts. Keep looking for extra ways to make money and save it.

Lisa
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Old 12-06-2007, 10:27 AM
 
Location: Sitting on a bar stool. Guinness in hand.
4,428 posts, read 5,493,806 times
Reputation: 1691
Default enough

I believe in having enough and being happy. A house, a reliable car, and a good education. And one excess cable. Granted this clashes with my SA who believes in enjoying life as you go. We do our best to find a middle ground. So far it's working.
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Old 12-06-2007, 10:32 AM
 
Location: San Fernando Valley, CA
1,719 posts, read 6,030,590 times
Reputation: 781
Simple living is what I want. Although I've spent several hundred within the last few weeks on things I don't need...but it's been a while since I've spent. My plan is to graduate college and make more money, but live below my means a bit. Another reason why I want to live Cali....save on housing and rent while I can invest and create cashflow so that I won't have to work as a slave to someone else.
Good topic.
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Old 12-06-2007, 10:47 AM
 
Location: in drifts of snow wherever you go
2,493 posts, read 3,063,564 times
Reputation: 692
I'm just amazed at how quickly things add up. Car payments, car insurance, health insurance, rent, telephone, cell phone, utilities, food, clothes, Netflix, internet. I'm racing around now. How do I afford all this stuff when I'm 70? It's tough. I'm trying to pull back now and learn as much as I can about money before it's too late!

greenie
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Old 12-06-2007, 10:49 AM
 
10,871 posts, read 41,162,985 times
Reputation: 14014
Lethal Poison ... OK, I get the picture. You've figured out how to survive on the cheap, but that is only one half of the "simple living" picture.

Now you need to put some effort back into yourself. You say your job doesn't pay enough to leave you with adequate discretionary income? OK, so now it's time to seek out a better job ... which may require some real effort (and yet further sacrifice) on your part to improve your marketable skills, and get some further education. All is available to you if you want it badly enough and are willing to put forth your own effort. With a bit of determination and motivation, you can do it. There's all kinds of programs and jobs available to you right now, if you're willing to work.

If you're looking for sympathy and a hand-out ... it's not coming from this source. I know of too many good paying low-to-medium skilled jobs for people willing to work and learn and get ahead that are going begging because the employers cannot find the workstaff. But you've got to want to be productive and valuable to the employer, not just looking for a job positon with a paycheck. If that's all you think you're worth, then that's all that you'll ever receive ....

Allow me to further put this in perspective for you. You can start out as a new-hire low level worker at a fast-food restaurant ... how technical and difficult is that? ... and move on up to management positions if you'll show the initiative and value to the business operation. I've got friends with parents who work at Mickey D's, Taco Bell, KFC, and similar places ... and take home $60-80,000 per year, and have done so for many years, after starting out from a high school part-time job. I could have done all I've accomplished on less income than that ... and you can, too.

Even my one son who didn't finish high school managed to put on a smile and a good attitude (when he realized Daddy wasn't going to feel sorry for him and support him the rest of his life) and got a part-time job waiting tables at a good restaurant ... and was making $45-60K per year for awhile until he decided to finish up his education and get an IT degree. Now he works for MSoft, salaried at big bucks, and isn't as happy as when he was waiting tables ... but he's got the salary and benefits and job title and stress and BS that comes with the corporate job.

So can you, if you're willing to work and improve your situation. Quit feeling sorry for yourself and get off your butt, you might just surprise yourself with the opportunities awaiting you.

OH, and for what it's worth ... my prime source for clothing is Goodwill or DI stores, or surplus stores. I don't buy cars with less than 100,000 miles on the clock already, either, but I maintain them myself ... because I learned how to work on them. You can, too.
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