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"Live within your means" is a phrase used by people who've gotten ahead in life by....living within their means.
It is often said by "millionaire next door" types who've gotten to be well-to-do (and sometimes become truly rich) the long, slow, hard and frugal.
Yes, most people do it by working quite ordinary middle income jobs.
But if you're buying spinner rims for your Escalade and standing in line for the latest Nike's every couple months then you'll never save enough to invest on a working class or middle class income. People make choices.
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one thing to take in count with your finger pointing- we pay our servicemen crapola- tell them to their face to be more frugal
Actually, I do.
Most military members don't save enough, especially considering that the military is one of the few career fields where an 18-25 year old can make better than the median salary in this country (which is about 41k/year) with just a high school education. And then you can add the benefits on top of that.
I used to be one of those servicemen you talk about. Saved well over 100k by the time I was 22. It's pretty easy to NOT SPEND money if you went overseas for a couple years. What's there to spend on? Plus you make extra and it's tax free. Dangerous? Sure, but we all signed that dotted line.
Many of my peers came home and bought Audis and Escalades, but I saved and invested every paycheck. Living in the dirt cheap rural North Carolina swamplands was a good way to save over 50% of your income too, actually made easier collecting the off-base housing and food allowance and saving the difference between that and what housing actually cost.
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Also keep in mind that it's much, much easier to become well off if you live within your means.
Typical American inversion of Effect and Cause. The best way to become wealthy is to live within your means. What the spenders see is other people maintaining their wealth and utilizing their wealth to generate more of it. Nothing wrong with that. Real investment (as opposed to speculation) raises the tide for all boats.
Sure it does. This is one of those, "If you're no longer watching cartoons in your PJs, you've probably noticed that the deck is very much stacked," observations
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Originally Posted by mapmd
But if you're buying spinner rims for your Escalade and standing in line for the latest Nike's every couple months then you'll never save enough to invest on a working class or middle class income. People make choices.
And if everyone quit spending, our economy would crash and burn. You should be thankful that so many people are willing to trade their lives for spinning rims and other ridiculous things. If everyone lived well and deliberately, next to nobody would have a job.
Bootstrapping only works when a tiny fraction of society is willing to do it. If everyone lived this way, nobody would spend, business would collapse, and we'd be worse off than Greece.
Sure it does. This is one of those, "If you're no longer watching cartoons in your PJs, you've probably noticed that the deck is very much stacked," observations
And if everyone quit spending, our economy would crash and burn. You should be thankful that so many people are willing to trade their lives for spinning rims and other ridiculous things. If everyone lived well and deliberately, next to nobody would have a job.
Bootstrapping only works when a tiny fraction of society is willing to do it. If everyone lived this way, nobody would spend, business would collapse, and we'd be worse off than Greece.
Life isn't a board game. You can't cheat. What I do is merely gaming the system. Finding ways to beat it. I am no different than Steve jobs or Bill gates. I'm not taking up nearly as much risk but I will not gain the same rewards. I'll still be better off than 90-95% of people though.
The fact that you think that it is impossible to cheat tells me you haven't personally seen someone do so and get away with it. Happens every day.
Give me an example. Otherwise I'll continue to laugh at you. Even when I'm 50 I'll still chuckle at your lack of a point while I take my pet peacock on a walk to the bank so I can throw pennies and dimes at the homeless.
Says someone who earned dollars worth 3 to 5 times as much as the young people earn today for the first part of their career.
Heads up, it's not the same people eating out every night and you'd be surprised at the amount of people who don't do "expensive" things.
Heads up, do you think I didn't start out earning a pittance and worked my way up and saved? Get the chip off your shoulders. You seem to know it all, so do what you want. Don't listen to anyone who has 40 years of work experience and life experience behind them. Enjoy your appetizers, drinks, and expensive dinners. You deserve it!!
Just make sure and do it every night.
I'm just telling you what I've observed over 40 plus working years and 60 plus years of life. I could care less what you believe or even what you think. You are entitled to your own opinons, even though they are limited by years on earth and experience. Hence, I take them with a grain of salt.
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