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It's kind of crazy how that works out isn't it. What do people think will magically happen? Winning the lotto? An inheritance from a relative?
The math is so basic and there are even online sites that will calculate things for you.
very few have the knowledge or want to even learn where to go for the answers. folks just think oh it will just work out.
maybe it will and maybe it won't .
i always try to get the odds on my side in whatever i do. some folks are just more ready FIRE aim.
the problem is to many miss the target .
You would be shocked to learn how many married couples leave as much as 100k on the table because they do not understand or care to understand the options available from ss as far as manipulating spousal benefits around.
Last edited by mathjak107; 01-14-2014 at 06:19 PM..
I don't know if I've already posted on this thread, but my feeling is it would be doable if it were not for government interference. We bought our house in 2010, and no flood insurance was required. The flood zone changed and so we were forced to buy the lowest priced flood insurance, since were just a bit in the flood zone after it was adjusted. OK.
This week we got a notice from our mortgage holder that we had to get a survey and were subject to a higher rate (thank you, ******* Obama). So because a corner of our garage, which is not covered by flood insurance, is now in the flood zone, we need to spend thousands of dollars??
My point is, it is not hard to live frugally, except for government encroachment in our lives. Taxes and insurance will sabotage your efforts.
The gov't and insurers are not going away and this is just another example of lifes zingers that erode your budget.
The less you have the more important it is to learn this stuff. You need to maximize everything you do when you have little.
Yet folks go the opposite route and go i have little so it is unimportant to bother learning about this stuff.
Wrong! It becomes even more important.
It always amazes me how frugal people become so fixated on pinching every penny and while a penny saved is a penny earned the fact is it will always be a penny.
Very few ever gain the knowledge about what to do with that penny to create real wealth.
The amount we are able to save from our checks create little wealth. It is the decades of compounding the growth on it through good solid investing skills that gives us a nice savings.
Yet so few who pinch these pennies ever take an interest in learning how to invest and grow them.
Visit most frugal living forums and the discussions are all about rounding up more pennies. Rarely do i find any participants that actually take an interest in growing these pennys.
Last edited by mathjak107; 01-14-2014 at 06:33 PM..
thanks for the input. I should have expanded my original response. Three different accounts low 7 figure total. I take no money out and haven't since the mid 1990's. Simply investments for growth and income and safety, ultra conservative investor..Now retired and 65.
I live on other sources of income.
thanks for the input. I should have expanded my original response. Three different accounts low 7 figure total. I take no money out and haven't since the mid 1990's. Simply investments for growth and income and safety, ultra conservative investor..Now retired and 65.
I live on other sources of income.
Yeah that makes a lot of sense. I guess it's hard for me to understand since i've always been interested in investments/ personal finance.
Same here,since being raised on low income with my family i decided as a teenager more than 40 years ago i was never going back to the projects and i will never be poor.
I always took an interest in investing whatever pennies i could round up.
Over the decades i learned more and more and learned who the really succesful people were and picked their brains.
As the money grew the deals got bigger and i might add riskier. But they were calculated deals where the odds at least appeared on my side.
The biggest deal of our lives was borrowing a huge sum of money to buy a piece of a real estate business with one of the most famous smartest developers in the country.
If this deal failed it was back to the projects as i would have owed more money than i could pay back.
As luck had it everything went well and we have been liquidating everything the last decade getting ready to retire and call it quits.
In fact we are selling the last piece of property in a few weeks that are co-owned with this developer and our partnership will have run its course.
July i start cutting back to part time at work and eventually phase my self out totally.
I guess you can say my plan was the total opposite of eddies. My goal was to make as much as i could just to avoid that life.
Again nothing wrong with what eddie is doing. I am not thrilled with his plan but i wish him luck.
Last edited by mathjak107; 01-14-2014 at 07:06 PM..
And yeah, you could probably trim my expenses down a good bit....
Free is good....
How much did you spend on Christmas? Are you the type who never buys gifts on special occasions? Do you celebrate birthdays, mother's day, father's day, gf's bday, etc etc etc. Personally I can't stand the commercialism behind special events.
...I guess you can say my plan was the total opposite of eddies. My goal was to make as much as i could just to avoid that life.
Yep, I know well what it is like to brown bag it to work and think, "Ok, my budget is $5 dollars. I'll buy a donut/coffee after getting to the office and a snack during the afternoon."
For me the good life is more about not having to constantly nickel and dime my way through than anything else.
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great planning.
