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most of us experience one of the big three financial killers in life
divorce-illness-job loss .
it is rare it is the event that causes someone to committ financial suicide .
when you trace back you generally find it was a path of poor choices and bad decisions leading up to that event that set them up for the fall.
spending money on things other than proper insurance types is common , career choices or lack of action to get better pay , poor mate choices , etc etc etc . the list goes on and on but rarely will you find a true case of just the fact of the event did them in .
yes there are exceptions but not many . who you are as person generally relates to how you treat your financial life .
Last edited by mathjak107; 10-11-2015 at 02:06 AM..
most of us experience one of the big three financial killers in life
divorce-illness-job loss .
it is rare it is the event that causes someone to committ financial suicide .
when you trace back you generally find it was a path of poor choices and bad decisions leading up to that event that set them up for the fall.
spending money on things other than proper insurance types is common , career choices or lack of action to get better pay , poor mate choices , etc etc etc . the list goes on and on but rarely will you find a true case of just the fact of the event did them in .
yes there are exceptions but not many . who you are as person generally relates to how you treat your financial life .
Well, that sounds like a reasonable analysis, mathjak. I know that for decades I didn't think about finances beyond what I needed for the day, but then I'm a missionary and my focus was on other matters, and it still is. I feel blessed in that I haven't had to think for myself in this area, as my instruction has always come from God, and He has never let me down. I wish I could say the same in regard to Him.
most folks money problems are the result of poor choices and bad decisions all along the way . either choices they made about earning it , spending it or things thy didn't do to protect it .
If you think my poverty-level spending is a problem, explain. Nobody else has suggested it is a problem.
most of us experience one of the big three financial killers in life
divorce-illness-job loss .
it is rare it is the event that causes someone to committ financial suicide .
when you trace back you generally find it was a path of poor choices and bad decisions leading up to that event that set them up for the fall.
spending money on things other than proper insurance types is common , career choices or lack of action to get better pay , poor mate choices , etc etc etc . the list goes on and on but rarely will you find a true case of just the fact of the event did them in .
yes there are exceptions but not many . who you are as person generally relates to how you treat your financial life .
It depends on your value system. In the mathjak107 value system, he who dies with the most money wins. Life decisions that to not achieve that goal are deemed "bad".
I've made plenty of "bad" financial decisions in my life. I'm twice divorced. I opted to spend on lifestyle things rather than save and invest.
Have you sailed your yacht down Merchant's Row off Stonington, Maine on a perfect summer afternoon? Or watched the sunrise from the cockpit in Cuttyhunk harbor? Have you skied waist-deep champagne powder at Steamboat? Or had the adrenaline buzz of skiing the Sudan Coulour or Spanky's Ladder at Whistler-Blackcomb? Or gone heli-skiing in New Zealand? Or snow cat skiing in the Monashees? Or summer skiing at Termas de Chillan or Valle Nevado? Have you seen the Mona Lisa at the Louvre? Or seen the Van Gogh museum in Amsterdam? Gazed at the ceiling of the Sistine Chapel? Have you walked through Chenonceau or Chambord or Versailles? Have you sat 30 feet from Yo Yo Ma performing cello at the Boston Symphony? Heard the national symphony in Prague? Walked the vineyards and tasted wine in Alsace? Or Champagne? Or the Hunter Valley? Or Bordeaux? Or Chateauneuf du Pape? Have you been told at the Hofbrauhaus in Munich after a night of beer and belting out German drinking songs that you drank like a German? Have you played golf at the Royal Dublin? Or hit a ball into a kettle bunker in Portmarnock? Scuba diving the reefs of Grand Cayman?
I'm not going to die with the most money but I wouldn't trade my life's experiences when I was young and healthy enough to enjoy them for huge piles money in retirement.
I think the savings rate is low but to clarify what this survey says is this:
"The rate comparison website surveyed 5,000 people and found just 29 percent of them had $1,000 or more in savings account"
It does not say nor imply if the people surveyed have other money, perhaps a 401k, equity in a house, more than $1,000 in a checking account, etc. Just no savings account.
It also does not even say if the people were working age adults or how they were 'randomly' selected
The conclusion "Americans have nothing saved" cannot be deduced from this survey. I am not saying it isn't true.
I would wager that essentially all very-high net worth individuals and ultra-high net worth individuals do not have savings accounts.
I semi-retired in my mid-40s and fully retired before 50 because of accumulated wealth -- and I haven't had a savings account since puberty. I see no reason to have a savings account. I have brokerage accounts and checking accounts -- but I do not have a savings account.
It depends on your value system. In the mathjak107 value system, he who dies with the most money wins. Life decisions that to not achieve that goal are deemed "bad".
I've made plenty of "bad" financial decisions in my life. I'm twice divorced. I opted to spend on lifestyle things rather than save and invest.
Have you sailed your yacht down Merchant's Row off Stonington, Maine on a perfect summer afternoon? Or watched the sunrise from the cockpit in Cuttyhunk harbor? Have you skied waist-deep champagne powder at Steamboat? Or had the adrenaline buzz of skiing the Sudan Coulour or Spanky's Ladder at Whistler-Blackcomb? Or gone heli-skiing in New Zealand? Or snow cat skiing in the Monashees? Or summer skiing at Termas de Chillan or Valle Nevado? Have you seen the Mona Lisa at the Louvre? Or seen the Van Gogh museum in Amsterdam? Gazed at the ceiling of the Sistine Chapel? Have you walked through Chenonceau or Chambord or Versailles? Have you sat 30 feet from Yo Yo Ma performing cello at the Boston Symphony? Heard the national symphony in Prague? Walked the vineyards and tasted wine in Alsace? Or Champagne? Or the Hunter Valley? Or Bordeaux? Or Chateauneuf du Pape? Have you been told at the Hofbrauhaus in Munich after a night of beer and belting out German drinking songs that you drank like a German? Have you played golf at the Royal Dublin? Or hit a ball into a kettle bunker in Portmarnock? Scuba diving the reefs of Grand Cayman?
I'm not going to die with the most money but I wouldn't trade my life's experiences when I was young and healthy enough to enjoy them for huge piles money in retirement.
actually the mathjak value system is he who gets to live out the most of their wants and dreams and not be a burden on their kids or society wins but that takes money . i have no intentions of dying with the most but i have every intention of covering as much of the things we want to do as i can .
most of the time we have is now that we are retired . so far we have excellent health and can go and do anything anywhere we like , and we are doing it .
the mathjak system has always sought to invest better for the future so i could spend more in the present .
a penny saved is a penny earned and it will always be a penny unless compounded.
i always preferred not to watch the penny's and spend more , while investing better and compounding less savings in to more .
that is the real mathjak value system .
Last edited by mathjak107; 10-11-2015 at 09:17 AM..
If you think my poverty-level spending is a problem, explain. Nobody else has suggested it is a problem.
it isn't a problem to me . but it is to you .
you are here everyday complaining about your lack of money and what are burger flippers supposed to do to live . . want to poll the city data users on that observation ?
you are here everyday complaining about your lack of money and what are burger flippers supposed to do to live . . want to poll the city data users on that observation ?
So if you think I spend too much, what should I cut?
What does my decision making have to do with my spending? Do you find my spending decisions poor, and if so, in what way?
It's a lifetime of decisions that leave you where you are today, same with me. Engaging with you is fruitless
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