Excellent video. The small house that my father bought in 1973 would be unacceptable to most people these days. My friend who bought a new 250,000 house and Navigator etc told me that since he had a kid times are tough and he doesn't have the spending money he used to. I was just speechless. Things are exactly the same. People just expect to have more. We have to have $1,000 tvs and a lawn service to "get by" etc. Its just stupid.
Somebody get me a job that pays what those guys were making, I promise not buy to boats and motorcycles
Absolutely True. I remember going to a friends house in 5th Ward back in the early 90's and he was driving a BMW, had 2 sattelite dishes on the roof & Cable TV with all the movie channels. AllI could think was..I live in a better area, and I can't afford all of this stuff. We've become a consumer oriented society and we blow money on Iphones, expensive clothes, WII's and crap we don't need. Meanwhile, people like my mechanic neighbor who doesn't use credit for anything, bought a brand new $130,000 house with cash after saving for 10yrs, and pays cash for all of his vehicles. He's got IRA's with mutual funds, bonds, stocks and you wouldn't know if by looking at him. He spends most his money on things that go UP in value, not DOWN in value and he stuffs away a couple thousand a month into savings. He'll probably be a millionaire someday. Now days, what took our parents and grandparents 25 years to accumulate, the average newlywed buys within 5 yrs. Leading to Debt. That's what causes the "sqeeze" on the middle class. Out of control spending more than anything else. Imagine if you didn't have car payments, mortgage, student loans or credit card debt. How much extra money would you have for the month?
President Bush One Month After 9/11 "We cannot let the terrorists achieve the objective of frightening our nation to the point where we don't - where we don't conduct business, where people don't shop." http://www.whitehouse.gov/news/releases/2001/10/20011011-7.html
Very true,...The sad thing is I'm 35 and just absorbing this the way I should. I have changed my ways, but wish I could have had the mindset I have now but in my 20's...I have just paid off all credit cards, and my 2002 Jeep? Paid for and running great!...I could likely get a new vehicle, but I'd rather save... Heck, by sacking your work lunch rather than eating out,...you save $3500 over 4 years... The only debt I am willing to take right now is a mortgage...That means additional money for 401k contribution...The S&P 500 over the last 35 years has yielded an average of 11.4%...It's been as great as 65% as low as -39%, but that 11.4% has been the average... Go to dinkytown.com,...If I'm not wrong...if you contribute to 401k over 35 years and the compound yield is conservatively set at 9% return...with a self contribution of just 15%, assuming employer match of 50% of first 6% contributed...You should have a nestegg of one million... [edit] forgot to mention a gross income of $34,000 over the 35 years,...which everyone has told me is an average salary at best... Unfortunately, people live beyond means and don't realize the value of saving, and reducing debt...Luckily I have changed my thinking.
not trying to be a jerk because honestly I always figure you as a saver. how much money do you spend on weapons?
I like to live by the mantra that my willingness to spend money on an object should be inversely proportional to that object's capacity to depreciate.
In the past, too much..., but I'm getting better and being more selective now and in the future. Seriously, I got rid of alot.
