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Old 11-28-2009, 11:23 AM
 
12,671 posts, read 20,527,641 times
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Quote:
Originally Posted by dougie86 View Post
For self-made millionaires and billionaires, yes. Warren buffet came to mind.
I heard a funny anecdote about Jim Pattison that when he passed by public phones he checked for coins left behind by careless users.

I met a man who inherited his father's wealth when he graduated from university with a business degree at the age of 21. Both he and his wife also a business graduate never had to work. He lost all his vast fortune in 6-7 years gambling at the stock markets. Fortunately, he still has a couple millions left and has moved to a cheaper country.
I don't think he was self-made. He came from a upper-class family.

Which country?

 
Old 11-28-2009, 11:33 AM
 
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We are very successful and earn good incomes but it just makes sense to me to live below our means. We never worry about debt and have a good deal in savings. Again it just makes sense to be frugal..
 
Old 11-28-2009, 01:02 PM
 
1,269 posts, read 3,328,682 times
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Quote:
Originally Posted by Texas User View Post
I don't think he was self-made. He came from a upper-class family.
Thanks for it pointing out.

Quote:
Which country?
Singapore -> Australia -> Malaysia
 
Old 11-29-2009, 03:47 PM
 
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Quote:
Originally Posted by goodgal View Post
We are very successful and earn good incomes but it just makes sense to me to live below our means. We never worry about debt and have a good deal in savings. Again it just makes sense to be frugal..
Makes cents.
 
Old 11-29-2009, 03:48 PM
 
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Quote:
Originally Posted by dougie86 View Post
Thanks for it pointing out.

Singapore -> Australia -> Malaysia
Singapore is not a cheap place to live.
 
Old 11-29-2009, 06:25 PM
 
1,269 posts, read 3,328,682 times
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Malaysia is.
However before anyone one jumps on the wagon and heads that direction, it's worthwhile to read this tale out of the 1001 arabian nights.
A rich man died and distributed his wealth equally among his 20 children.
Only to have the Syariah Court declared that he died {10 years ago} a muslim and
ruled that since no non-Muslim is allowed to inherit any part of a Muslim’s assets or wealth, the inheritance of his property by his non-Muslim children are invalid and unlawful.
url address: cmorbutt.multiply.com/journal/item/165/Tan_Sri_Lim_Goh_Tong_was_Muslim

His profile in Wikipedia portrayed his humble origin and eventually built up a net worth of US$4.2billion at the time of his death. No doubt there was no lack of diligence and frugality. But with a legal wife and 6 children, plus 14 other kids and their respective mothers .. that must a lot of cash spent to bring peace and harmony under the roofs. And now this Syariah Court's ruling 10 years after his death!
 
Old 04-08-2010, 07:21 PM
 
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Thomas J. Staley's 'Stop Acting Rich' is a great book.
 
Old 04-09-2010, 05:53 AM
 
Location: Massachusetts
422 posts, read 1,207,133 times
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Quote:
Originally Posted by Texas User View Post
Singapore is not a cheap place to live.
that's absolutely true. in singapore, cars/houses/rents are super expensive. cigarettes/alcohol, housestuffs/clothings are expensive too. the only thing less expensive than the states is probably food where you have more affordable food options.
 
Old 04-09-2010, 06:13 PM
 
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Quote:
Originally Posted by bigfatturkey View Post
that's absolutely true. in singapore, cars/houses/rents are super expensive. cigarettes/alcohol, housestuffs/clothings are expensive too. the only thing less expensive than the states is probably food where you have more affordable food options.
Most safest country in the world as far as crimes go?
 
Old 04-11-2010, 12:10 PM
 
24,775 posts, read 26,889,616 times
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Quote:
Originally Posted by virgode View Post
The well off, spend there life earning$$$ and trying to figure out
how to keep it, I've known a few you'd think were street ppl.
Depression era kids, like my parents generation can be the worst.
Then try to figure out how there going to hide $$ so a nursing home
doesn't get it.
There are some like that. But very few go to those kinds of extremes. If anything, succeeding generations have gone the opposite extreme.
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