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But the guy dropped out of the race claiming someone was threatening him. Ross, you're running for president. What did you expect?
It wasn't just because he ran for presidency... it was because he inserted his foot in his mouth during a discussion regarding the African Americans voting block and it got taken as a racist remark. Kinda like the geeky kid trying to talk at a high school pep-rally, he failed to recover....
Looking at him down the road, I don't think he is racist.... EDS as a corporate may have favored white men for ranking and file positions BUT that wasn't anything uncommon for a Southern company of the early 60s.
If you can't afford car repairs, you can't afford a car. If you can't afford to insure against uninsured motorists (or pay for everything out of pocket), you can't afford a car either.
Whatever happened to living within your means?
His point is that unanticipated things can wipe out whatever savings you're able to put together on a 40k/year salary. It doesn't necessarily have to be car problems. There are other things that are not under your control that can drain your wallet. These things do crop up and hit you when you don't expect it. I would say it's rare for anyone to go through their whole life avoiding them.
His point is that unanticipated things can wipe out whatever savings you're able to put together on a 40k/year salary. It doesn't necessarily have to be car problems. There are other things that are not under your control that can drain your wallet. These things do crop up and hit you when you don't expect it. I would say it's rare for anyone to go through their whole life avoiding them.
you could convince someone else to assume the liability somehow
They just are saying to not spend it all. and certain not what you don't have on credit. Nothing wrong with that. Modest spending doesn't help the rich it hurts their investments. Consumer spending is 70% reportedly of the economy.The FED and the rich want you to spend; spend; spend and FED policy on rates is designed to encourage it by no interest on savings.
Most rich people didn't get that way by being frugal.
They either:
1.) Have rare business acumen
2.) Came up with a great idea
3.) Have a unique talent (sports, music etc.)
4.) Got lucky (lottery)
5.) Were born into it
Most wealthy people are #5. Perhaps they inherited $5 million and turned it into $50 million. They likely have parents that sent them to great schools and prepared them for the responsibility of managing wealth. The "projects to penthouse" story is rare.
Rich people may give advice that helps to preserve and/or grow what you have, but it doesn't mean you'll be buying the cars and yachts they buy.
But it always usually starts with one person not born to wealth. Now days worldwide more people getting rich than ever. Look at just some of the ages when not born into it young people have been come millionaires then gone on to billions in recent years. Many of the born into it can't match them now. Then look at those with a talent or lottery and now they often failed to maintain the wealth long.
Well living modestly is generally a great tip to building financial stability. You can save tons of money living in a small just right sized home versus a bigger more elaborate home.
It's really true though that many of these rich people saying to live modestly are not doing so at all. I have two dentists in my family who both make much higher than average pay (250k a year), and that's on top of investment dividends and other payouts they have going on, and they also preach the whole, save your money, live modestly, don't spend! It makes you almost want to laugh out loud because the one owns about 3 sports cars all in the 80k range each, and another goes on vacations with his family about 4 times a year, then brags how it cost him 25k each time. They do nothing close to living modestly..
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