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Subject: How this 38-year-old made it from 'deep poverty' to millionaire From: a a <manta103g@gmail.com>
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The troll doesn't even know how to format a USENET post...
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Subject: How this 38-year-old made it from 'deep poverty' to millionaire Followup-To: alt.test.group
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a a <manta103g@gmail.com> wrote:
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Subject: How this 38-year-old made it from 'deep poverty' to millionaire
From: a a <manta103g@gmail.com>
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https://www.marketwatch.com/video/fire-starters/how-this-38-year-old-made-it-from-deep-poverty-to-millionaire/BBDDEEA1-FFBE-445A-8942-5B4FA4F66A07.html?mod=MW_article_top_stories
Compared to other regulars, Bozo contributes practically nothing
except insults to this group.
The troll doesn't even know how to format a USENET post...
The reason Bozo cannot figure out how to get Google to keep from
breaking its lines in inappropriate places is because Bozo is
CLUELESS...
On 7/14/2022 8:27 AM, a a wrote:
https://www.marketwatch.com/video/fire-starters/how-this-38-year-old-made-it-from-deep-poverty-to-millionaire/BBDDEEA1-FFBE-445A-8942-5B4FA4F66A07.html?mod=MW_article_top_stories
He became a landlord i.e. contribute no actual value to society.
https://www.marketwatch.com/video/fire-starters/how-this-38-year-old-made-it-from-deep-poverty-to-millionaire/BBDDEEA1-FFBE-445A-8942-5B4FA4F66A07.html?mod=MW_article_top_storiesIt is not that hard to become a millionaire, assuming you are
https://www.reddit.com/r/antiwork/Mikek
On 8/1/2022 5:52 AM, a a wrote:
https://www.marketwatch.com/video/fire-starters/how-this-38-year-old-made-it-from-deep-poverty-to-millionaire/BBDDEEA1-FFBE-445A-8942-5B4FA4F66A07.html?mod=MW_article_top_storiesIt is not that hard to become a millionaire, assuming you are
financially disciplined for 30+ years.
My wife and I had an inflation adjusted income of $71k a year. As an
example of this, we earned
$18k in 1981, inflation adjusted that is $55k. I did these calculations
in 2018, when I retired.
I inflation adjusted income for all the years, added them up and
divided by the number of years, to get $71k.
We were good savers, we saved more than 10% to a max of 41% on an especially good year (1986, I earned $60k)
I invested in no-load mutual Funds, Mostly Vanguards VTSAX or VTI. We
had the proverbial million in 2011,
and then the stock market took off and put us in the Top 5% of US
households.
This allowed me to payout $300k to get a child through dental school with zero student debt and finance
a fixer upper house for a year until it was fixed and allowed a standard mortgage.
I kills me to read about young people saying you can't get ahead in
the US, the man is holding you down, the
rich are controlling everything, the stock market is rigged. It is not a group thing, every individual controls their future.
All you need is your health and the this country is your oyster.
The number one example of this is the Reddit subthread called r/antiwork.
https://www.reddit.com/r/antiwork/Mikek
OK, bitrex, tell me how bad it is and how nobody can get ahead.
On 8/1/2022 8:01 AM, amdx wrote:
On 8/1/2022 5:52 AM, a a wrote:
https://www.marketwatch.com/video/fire-starters/how-this-38-year-old-made-it-from-deep-poverty-to-millionaire/BBDDEEA1-FFBE-445A-8942-5B4FA4F66A07.html?mod=MW_article_top_storiesIt is not that hard to become a millionaire, assuming you are
financially disciplined for 30+ years.
My wife and I had an inflation adjusted income of $71k a year. As an
example of this, we earned
$18k in 1981, inflation adjusted that is $55k. I did these
calculations in 2018, when I retired.
I inflation adjusted income for all the years, added them up and
divided by the number of years, to get $71k.
We were good savers, we saved more than 10% to a max of 41% on an
especially good year (1986, I earned $60k)
I invested in no-load mutual Funds, Mostly Vanguards VTSAX or VTI. We
had the proverbial million in 2011,
and then the stock market took off and put us in the Top 5% of US
households.
This allowed me to payout $300k to get a child through dental
school with zero student debt and finance
a fixer upper house for a year until it was fixed and allowed a
standard mortgage.
I kills me to read about young people saying you can't get ahead in
the US, the man is holding you down, the
rich are controlling everything, the stock market is rigged. It is not
a group thing, every individual controls their future.
All you need is your health and the this country is your oyster.
The number one example of this is the Reddit subthread called r/antiwork. >>> https://www.reddit.com/r/antiwork/
Mikek
OK, bitrex, tell me how bad it is and how nobody can get ahead.
"and then the stock market took off"
All the market has reliably done for the better part of 20 years is slump
On 8/1/2022 8:01 AM, amdx wrote:I invest in Total Stock market Mutual Funds, VTSAX and The S&P 500
On 8/1/2022 5:52 AM, a a wrote:
https://www.marketwatch.com/video/fire-starters/how-this-38-year-old-made-it-from-deep-poverty-to-millionaire/BBDDEEA1-FFBE-445A-8942-5B4FA4F66A07.html?mod=MW_article_top_storiesIt is not that hard to become a millionaire, assuming you are
financially disciplined for 30+ years.
My wife and I had an inflation adjusted income of $71k a year. As an
example of this, we earned
$18k in 1981, inflation adjusted that is $55k. I did these
calculations in 2018, when I retired.
I inflation adjusted income for all the years, added them up and
divided by the number of years, to get $71k.
We were good savers, we saved more than 10% to a max of 41% on an
especially good year (1986, I earned $60k)
I invested in no-load mutual Funds, Mostly Vanguards VTSAX or VTI. We
had the proverbial million in 2011,
and then the stock market took off and put us in the Top 5% of US
households.
This allowed me to payout $300k to get a child through dental
school with zero student debt and finance
a fixer upper house for a year until it was fixed and allowed a
standard mortgage.
I kills me to read about young people saying you can't get ahead
in the US, the man is holding you down, the
rich are controlling everything, the stock market is rigged. It is
not a group thing, every individual controls their future.
All you need is your health and the this country is your oyster.
The number one example of this is the Reddit subthread called
r/antiwork.
https://www.reddit.com/r/antiwork/Mikek
OK, bitrex, tell me how bad it is and how nobody can get ahead.
"and then the stock market took off"
All the market has reliably done for the better part of 20 years is slumpI'll agree the market was flat from 2002 to 2010, but from 2010 until
On 8/1/2022 7:59 PM, bitrex wrote:
On 8/1/2022 8:01 AM, amdx wrote:
On 8/1/2022 5:52 AM, a a wrote:
https://www.marketwatch.com/video/fire-starters/how-this-38-year-old-made-it-from-deep-poverty-to-millionaire/BBDDEEA1-FFBE-445A-8942-5B4FA4F66A07.html?mod=MW_article_top_storiesIt is not that hard to become a millionaire, assuming you are
financially disciplined for 30+ years.
My wife and I had an inflation adjusted income of $71k a year. As an
example of this, we earned
$18k in 1981, inflation adjusted that is $55k. I did these
calculations in 2018, when I retired.
I inflation adjusted income for all the years, added them up and
divided by the number of years, to get $71k.
We were good savers, we saved more than 10% to a max of 41% on an
especially good year (1986, I earned $60k)
I invested in no-load mutual Funds, Mostly Vanguards VTSAX or VTI.
We had the proverbial million in 2011,
and then the stock market took off and put us in the Top 5% of US
households.
This allowed me to payout $300k to get a child through dental
school with zero student debt and finance
a fixer upper house for a year until it was fixed and allowed a
standard mortgage.
I kills me to read about young people saying you can't get ahead
in the US, the man is holding you down, the
rich are controlling everything, the stock market is rigged. It is
not a group thing, every individual controls their future.
All you need is your health and the this country is your oyster.
The number one example of this is the Reddit subthread called
r/antiwork.
https://www.reddit.com/r/antiwork/Mikek
OK, bitrex, tell me how bad it is and how nobody can get ahead.
"and then the stock market took off"
All the market has reliably done for the better part of 20 years is
slump
BTW I didn't "get ahead" by investing I knew that was a lost cause
ages ago, I invested in education and my business ages ago. I have an in-demand skill, much more reliable way of making money than trying to
play a game that, as you say, the very wealthy rig in their favor.
It's funny you think you're one of them. You're way closer to a bum
than you're close to Elon Musk with your what...single-digit million? Lol
On 8/1/2022 7:13 PM, bitrex wrote:
On 8/1/2022 7:59 PM, bitrex wrote:
On 8/1/2022 8:01 AM, amdx wrote:
On 8/1/2022 5:52 AM, a a wrote:
https://www.marketwatch.com/video/fire-starters/how-this-38-year-old-made-it-from-deep-poverty-to-millionaire/BBDDEEA1-FFBE-445A-8942-5B4FA4F66A07.html?mod=MW_article_top_storiesIt is not that hard to become a millionaire, assuming you are
financially disciplined for 30+ years.
My wife and I had an inflation adjusted income of $71k a year. As an
example of this, we earned
$18k in 1981, inflation adjusted that is $55k. I did these
calculations in 2018, when I retired.
I inflation adjusted income for all the years, added them up and
divided by the number of years, to get $71k.
We were good savers, we saved more than 10% to a max of 41% on an >>>> especially good year (1986, I earned $60k)
I invested in no-load mutual Funds, Mostly Vanguards VTSAX or VTI.
We had the proverbial million in 2011,
and then the stock market took off and put us in the Top 5% of US
households.
This allowed me to payout $300k to get a child through dental
school with zero student debt and finance
a fixer upper house for a year until it was fixed and allowed a
standard mortgage.
I kills me to read about young people saying you can't get ahead
in the US, the man is holding you down, the
rich are controlling everything, the stock market is rigged. It is
not a group thing, every individual controls their future.
All you need is your health and the this country is your oyster.
The number one example of this is the Reddit subthread called
r/antiwork.
https://www.reddit.com/r/antiwork/Mikek
OK, bitrex, tell me how bad it is and how nobody can get ahead.
"and then the stock market took off"
All the market has reliably done for the better part of 20 years is
slump
BTW I didn't "get ahead" by investing I knew that was a lost cause
ages ago, I invested in education and my business ages ago. I have an
in-demand skill, much more reliable way of making money than trying to
play a game that, as you say, the very wealthy rig in their favor.
It's funny you think you're one of them. You're way closer to a bum
than you're close to Elon Musk with your what...single-digit million? Lol
Ya, you have said that before, Musk got under you skin and you just
can't shake him!
I don't know why you would use the very wealthy as a club.What does it matter, as long as I have enough to support myself for 30 years
and then give my kids a good inheritance. Your just showing your hate
for the rich.
Do you have anything saved, what if you become disabled in a car accident? > Making money is great, old money is better!
On 8/1/2022 8:56 PM, amdx wrote:
On 8/1/2022 7:13 PM, bitrex wrote:
On 8/1/2022 7:59 PM, bitrex wrote:
On 8/1/2022 8:01 AM, amdx wrote:
On 8/1/2022 5:52 AM, a a wrote:
https://www.marketwatch.com/video/fire-starters/how-this-38-year-old-made-it-from-deep-poverty-to-millionaire/BBDDEEA1-FFBE-445A-8942-5B4FA4F66A07.html?mod=MW_article_top_storiesIt is not that hard to become a millionaire, assuming you are
financially disciplined for 30+ years.
My wife and I had an inflation adjusted income of $71k a year. As
an example of this, we earned
$18k in 1981, inflation adjusted that is $55k. I did these
calculations in 2018, when I retired.
I inflation adjusted income for all the years, added them up and >>>>> divided by the number of years, to get $71k.
We were good savers, we saved more than 10% to a max of 41% on
an especially good year (1986, I earned $60k)
I invested in no-load mutual Funds, Mostly Vanguards VTSAX or VTI.
We had the proverbial million in 2011,
and then the stock market took off and put us in the Top 5% of US
households.
This allowed me to payout $300k to get a child through dental >>>>> school with zero student debt and finance
a fixer upper house for a year until it was fixed and allowed a
standard mortgage.
I kills me to read about young people saying you can't get
ahead in the US, the man is holding you down, the
rich are controlling everything, the stock market is rigged. It is
not a group thing, every individual controls their future.
All you need is your health and the this country is your oyster.
The number one example of this is the Reddit subthread called
r/antiwork.
https://www.reddit.com/r/antiwork/Mikek
OK, bitrex, tell me how bad it is and how nobody can get ahead.
"and then the stock market took off"
All the market has reliably done for the better part of 20 years is
slump
BTW I didn't "get ahead" by investing I knew that was a lost cause
ages ago, I invested in education and my business ages ago. I have
an in-demand skill, much more reliable way of making money than
trying to play a game that, as you say, the very wealthy rig in
their favor.
It's funny you think you're one of them. You're way closer to a bum
than you're close to Elon Musk with your what...single-digit
million? Lol
Ya, you have said that before, Musk got under you skin and you just
can't shake him!
I don't know why you would use the very wealthy as a club.What does
it matter, as long as I have enough to support myself for 30 years
and then give my kids a good inheritance. Your just showing your hate
for the rich.
Sir I live rather comfortably in one of the highest cost-of-living
areas on the planet, where one bedroom homes regularly sell for
$400,00 or more.
I'm not sure what kind of Stalinist-hovel-type of situation it is you
believe I dwell in.
Anyway, not sure why you're blathering on about your financial life
story like you have something to brag about, if it's "not that hard."
https://forum.mrmoneymustache.com/and
https://www.early-retirement.org/forums/
On 8/1/2022 8:01 AM, amdx wrote:
On 8/1/2022 5:52 AM, a a wrote:
https://www.marketwatch.com/video/fire-starters/how-this-38-year-old-made-it-from-deep-poverty-to-millionaire/BBDDEEA1-FFBE-445A-8942-5B4FA4F66A07.html?mod=MW_article_top_storiesIt is not that hard to become a millionaire, assuming you are
financially disciplined for 30+ years.
My wife and I had an inflation adjusted income of $71k a year. As an
example of this, we earned
$18k in 1981, inflation adjusted that is $55k. I did these
calculations in 2018, when I retired.
I inflation adjusted income for all the years, added them up and
divided by the number of years, to get $71k.
We were good savers, we saved more than 10% to a max of 41% on an
especially good year (1986, I earned $60k)
I invested in no-load mutual Funds, Mostly Vanguards VTSAX or VTI. We
had the proverbial million in 2011,
and then the stock market took off and put us in the Top 5% of US
households.
This allowed me to payout $300k to get a child through dental
school with zero student debt and finance
a fixer upper house for a year until it was fixed and allowed a
standard mortgage.
I kills me to read about young people saying you can't get ahead in
the US, the man is holding you down, the
rich are controlling everything, the stock market is rigged. It is not
a group thing, every individual controls their future.
All you need is your health and the this country is your oyster.
The number one example of this is the Reddit subthread called r/antiwork. >>> https://www.reddit.com/r/antiwork/
Mikek
OK, bitrex, tell me how bad it is and how nobody can get ahead.
"and then the stock market took off"
All the market has reliably done for the better part of 20 years is slump
On 8/1/2022 8:08 PM, bitrex wrote:
On 8/1/2022 8:56 PM, amdx wrote:
On 8/1/2022 7:13 PM, bitrex wrote:
On 8/1/2022 7:59 PM, bitrex wrote:
On 8/1/2022 8:01 AM, amdx wrote:
On 8/1/2022 5:52 AM, a a wrote:
https://www.marketwatch.com/video/fire-starters/how-this-38-year-old-made-it-from-deep-poverty-to-millionaire/BBDDEEA1-FFBE-445A-8942-5B4FA4F66A07.html?mod=MW_article_top_storiesIt is not that hard to become a millionaire, assuming you are
financially disciplined for 30+ years.
My wife and I had an inflation adjusted income of $71k a year. As
an example of this, we earned
$18k in 1981, inflation adjusted that is $55k. I did these
calculations in 2018, when I retired.
I inflation adjusted income for all the years, added them up and >>>>>> divided by the number of years, to get $71k.
We were good savers, we saved more than 10% to a max of 41% on >>>>>> an especially good year (1986, I earned $60k)
I invested in no-load mutual Funds, Mostly Vanguards VTSAX or VTI. >>>>>> We had the proverbial million in 2011,
and then the stock market took off and put us in the Top 5% of US
households.
This allowed me to payout $300k to get a child through dental >>>>>> school with zero student debt and finance
a fixer upper house for a year until it was fixed and allowed a
standard mortgage.
I kills me to read about young people saying you can't get
ahead in the US, the man is holding you down, the
rich are controlling everything, the stock market is rigged. It is >>>>>> not a group thing, every individual controls their future.
All you need is your health and the this country is your oyster.
The number one example of this is the Reddit subthread called
r/antiwork.
https://www.reddit.com/r/antiwork/Mikek
OK, bitrex, tell me how bad it is and how nobody can get ahead.
"and then the stock market took off"
All the market has reliably done for the better part of 20 years is
slump
BTW I didn't "get ahead" by investing I knew that was a lost cause
ages ago, I invested in education and my business ages ago. I have
an in-demand skill, much more reliable way of making money than
trying to play a game that, as you say, the very wealthy rig in
their favor.
It's funny you think you're one of them. You're way closer to a bum
than you're close to Elon Musk with your what...single-digit
million? Lol
Ya, you have said that before, Musk got under you skin and you just
can't shake him!
I don't know why you would use the very wealthy as a club.What does
it matter, as long as I have enough to support myself for 30 years
and then give my kids a good inheritance. Your just showing your hate
for the rich.
Sir I live rather comfortably in one of the highest cost-of-living
areas on the planet, where one bedroom homes regularly sell for
$400,00 or more.
I'm not sure what kind of Stalinist-hovel-type of situation it is you
believe I dwell in.
I never said anything about where or how you live, don't be so
defensive. But I must say, I can't see why anyone earning 3, 4, or
$500k, would not attempt to save some of it.
What kind of a decadent life must you live where can't put at least put
20% away for the future.
Anyway, not sure why you're blathering on about your financial life
story like you have something to brag about, if it's "not that hard."
Because so few do it, and then they live on a meager SS check in retirement. I want to encourage people to LBYMs.
I related my story because of the OP. I follow a couple of Early
retirement groups, and there many stories of people that have saved
enough that
they no longer need to work for income. And there are many readers in
the accumulation stage, that get encouragement in their journey to reach Financial independence.
I will agree it is not a story that fits here, but maybe someone will
take inspiration. For those interested,
https://forum.mrmoneymustache.com/and
https://www.early-retirement.org/forums/
*_Living Below Your Means (LBYM) is a very powerful tool whether you
practice it during accumulation or during retirement....
Unfortunately, this is a deep dark secret to much of the populace_*.
On 8/1/2022 10:19 PM, amdx wrote:
On 8/1/2022 8:08 PM, bitrex wrote:
On 8/1/2022 8:56 PM, amdx wrote:
On 8/1/2022 7:13 PM, bitrex wrote:
On 8/1/2022 7:59 PM, bitrex wrote:
On 8/1/2022 8:01 AM, amdx wrote:
On 8/1/2022 5:52 AM, a a wrote:
https://www.marketwatch.com/video/fire-starters/how-this-38-year-old-made-it-from-deep-poverty-to-millionaire/BBDDEEA1-FFBE-445A-8942-5B4FA4F66A07.html?mod=MW_article_top_storiesIt is not that hard to become a millionaire, assuming you are >>>>>>> financially disciplined for 30+ years.
My wife and I had an inflation adjusted income of $71k a year.
As an example of this, we earned
$18k in 1981, inflation adjusted that is $55k. I did these
calculations in 2018, when I retired.
I inflation adjusted income for all the years, added them up >>>>>>> and divided by the number of years, to get $71k.
We were good savers, we saved more than 10% to a max of 41% >>>>>>> on an especially good year (1986, I earned $60k)
I invested in no-load mutual Funds, Mostly Vanguards VTSAX or
VTI. We had the proverbial million in 2011,
and then the stock market took off and put us in the Top 5% of
US households.
This allowed me to payout $300k to get a child through
dental school with zero student debt and finance
a fixer upper house for a year until it was fixed and allowed a
standard mortgage.
I kills me to read about young people saying you can't get
ahead in the US, the man is holding you down, the
rich are controlling everything, the stock market is rigged. It
is not a group thing, every individual controls their future.
All you need is your health and the this country is your oyster. >>>>>>> The number one example of this is the Reddit subthread called
r/antiwork.
https://www.reddit.com/r/antiwork/Mikek
OK, bitrex, tell me how bad it is and how nobody can get ahead.
"and then the stock market took off"
All the market has reliably done for the better part of 20 years
is slump
BTW I didn't "get ahead" by investing I knew that was a lost cause
ages ago, I invested in education and my business ages ago. I have
an in-demand skill, much more reliable way of making money than
trying to play a game that, as you say, the very wealthy rig in
their favor.
It's funny you think you're one of them. You're way closer to a
bum than you're close to Elon Musk with your what...single-digit
million? Lol
Ya, you have said that before, Musk got under you skin and you just
can't shake him!
I don't know why you would use the very wealthy as a club.What
does it matter, as long as I have enough to support myself for 30
years
and then give my kids a good inheritance. Your just showing your
hate for the rich.
Sir I live rather comfortably in one of the highest cost-of-living
areas on the planet, where one bedroom homes regularly sell for
$400,00 or more.
I'm not sure what kind of Stalinist-hovel-type of situation it is
you believe I dwell in.
I never said anything about where or how you live, don't be so
defensive. But I must say, I can't see why anyone earning 3, 4, or
$500k, would not attempt to save some of it.
What kind of a decadent life must you live where can't put at least
put 20% away for the future.
Anyway, not sure why you're blathering on about your financial life
story like you have something to brag about, if it's "not that hard."
Because so few do it, and then they live on a meager SS check in
retirement. I want to encourage people to LBYMs.
I related my story because of the OP. I follow a couple of Early
retirement groups, and there many stories of people that have saved
enough that
they no longer need to work for income. And there are many readers in
the accumulation stage, that get encouragement in their journey to
reach Financial independence.
I will agree it is not a story that fits here, but maybe someone
will take inspiration. For those interested,
https://forum.mrmoneymustache.com/and
https://www.early-retirement.org/forums/
*_Living Below Your Means (LBYM) is a very powerful tool whether you
practice it during accumulation or during retirement....
Unfortunately, this is a deep dark secret to much of the populace_*.
BTW what happens if you disable somebody else in a car accident? Most
people don't carry nearly enough liability-to-others insurance. And
without enough the other party can go after everything you have...I
carry about a million bucks worth, it is as they say, cheap insurance..
On 08/01/2022 05:59 PM, bitrex wrote:
On 8/1/2022 8:01 AM, amdx wrote:
On 8/1/2022 5:52 AM, a a wrote:
https://www.marketwatch.com/video/fire-starters/how-this-38-year-old-made-it-from-deep-poverty-to-millionaire/BBDDEEA1-FFBE-445A-8942-5B4FA4F66A07.html?mod=MW_article_top_storiesIt is not that hard to become a millionaire, assuming you are
financially disciplined for 30+ years.
My wife and I had an inflation adjusted income of $71k a year. As an
example of this, we earned
$18k in 1981, inflation adjusted that is $55k. I did these
calculations in 2018, when I retired.
I inflation adjusted income for all the years, added them up and
divided by the number of years, to get $71k.
We were good savers, we saved more than 10% to a max of 41% on an
especially good year (1986, I earned $60k)
I invested in no-load mutual Funds, Mostly Vanguards VTSAX or VTI. We
had the proverbial million in 2011,
and then the stock market took off and put us in the Top 5% of US
households.
This allowed me to payout $300k to get a child through dental
school with zero student debt and finance
a fixer upper house for a year until it was fixed and allowed a
standard mortgage.
I kills me to read about young people saying you can't get ahead in >>> the US, the man is holding you down, the
rich are controlling everything, the stock market is rigged. It is not
a group thing, every individual controls their future.
All you need is your health and the this country is your oyster.
The number one example of this is the Reddit subthread called
r/antiwork.
https://www.reddit.com/r/antiwork/Mikek
OK, bitrex, tell me how bad it is and how nobody can get ahead.
"and then the stock market took off"
All the market has reliably done for the better part of 20 years is
slump
https://www.youtube.com/watch?v=H53yLW7aTSEHave you got robbed by a financial advisor or investment institution?
Some will rob you with a six gun and some with a fountain pen.
https://finance.yahoo.com/news/guide-low-cost-index-funds-184923526.html
On 8/2/2022 6:46 AM, bitrex wrote:
On 8/1/2022 10:19 PM, amdx wrote:Agreed, but what is stupid is Florida only requires $10,000 of PIP and
On 8/1/2022 8:08 PM, bitrex wrote:
On 8/1/2022 8:56 PM, amdx wrote:
On 8/1/2022 7:13 PM, bitrex wrote:
On 8/1/2022 7:59 PM, bitrex wrote:
On 8/1/2022 8:01 AM, amdx wrote:
On 8/1/2022 5:52 AM, a a wrote:
https://www.marketwatch.com/video/fire-starters/how-this-38-year-old-made-it-from-deep-poverty-to-millionaire/BBDDEEA1-FFBE-445A-8942-5B4FA4F66A07.html?mod=MW_article_top_storiesIt is not that hard to become a millionaire, assuming you are >>>>>>>> financially disciplined for 30+ years.
My wife and I had an inflation adjusted income of $71k a year. >>>>>>>> As an example of this, we earned
$18k in 1981, inflation adjusted that is $55k. I did these
calculations in 2018, when I retired.
I inflation adjusted income for all the years, added them up >>>>>>>> and divided by the number of years, to get $71k.
We were good savers, we saved more than 10% to a max of 41% >>>>>>>> on an especially good year (1986, I earned $60k)
I invested in no-load mutual Funds, Mostly Vanguards VTSAX or
VTI. We had the proverbial million in 2011,
and then the stock market took off and put us in the Top 5% of >>>>>>>> US households.
This allowed me to payout $300k to get a child through
dental school with zero student debt and finance
a fixer upper house for a year until it was fixed and allowed a >>>>>>>> standard mortgage.
I kills me to read about young people saying you can't get >>>>>>>> ahead in the US, the man is holding you down, the
rich are controlling everything, the stock market is rigged. It >>>>>>>> is not a group thing, every individual controls their future.
All you need is your health and the this country is your oyster. >>>>>>>> The number one example of this is the Reddit subthread called
r/antiwork.
https://www.reddit.com/r/antiwork/Mikek
OK, bitrex, tell me how bad it is and how nobody can get ahead. >>>>>>>>
"and then the stock market took off"
All the market has reliably done for the better part of 20 years >>>>>>> is slump
BTW I didn't "get ahead" by investing I knew that was a lost cause >>>>>> ages ago, I invested in education and my business ages ago. I have >>>>>> an in-demand skill, much more reliable way of making money than
trying to play a game that, as you say, the very wealthy rig in
their favor.
It's funny you think you're one of them. You're way closer to a
bum than you're close to Elon Musk with your what...single-digit
million? Lol
Ya, you have said that before, Musk got under you skin and you just
can't shake him!
I don't know why you would use the very wealthy as a club.What
does it matter, as long as I have enough to support myself for 30
years
and then give my kids a good inheritance. Your just showing your
hate for the rich.
Sir I live rather comfortably in one of the highest cost-of-living
areas on the planet, where one bedroom homes regularly sell for
$400,00 or more.
I'm not sure what kind of Stalinist-hovel-type of situation it is
you believe I dwell in.
I never said anything about where or how you live, don't be so
defensive. But I must say, I can't see why anyone earning 3, 4, or
$500k, would not attempt to save some of it.
What kind of a decadent life must you live where can't put at least
put 20% away for the future.
Anyway, not sure why you're blathering on about your financial life
story like you have something to brag about, if it's "not that hard."
Because so few do it, and then they live on a meager SS check in
retirement. I want to encourage people to LBYMs.
I related my story because of the OP. I follow a couple of Early
retirement groups, and there many stories of people that have saved
enough that
they no longer need to work for income. And there are many readers in
the accumulation stage, that get encouragement in their journey to
reach Financial independence.
I will agree it is not a story that fits here, but maybe someone
will take inspiration. For those interested,
https://forum.mrmoneymustache.com/and
https://www.early-retirement.org/forums/
*_Living Below Your Means (LBYM) is a very powerful tool whether you
practice it during accumulation or during retirement....
Unfortunately, this is a deep dark secret to much of the populace_*.
BTW what happens if you disable somebody else in a car accident? Most
people don't carry nearly enough liability-to-others insurance. And
without enough the other party can go after everything you have...I
carry about a million bucks worth, it is as they say, cheap insurance..
PDL and bodily injury. An added that to the fact we have so many
uninsured motorists in Florida. Umbrella coverage prices have went up a
lot the last few years, used to be about $250 for $1M, now it is up to
$700 to $900. Happy to have agreement with you :-)
On 8/4/2022 6:23 AM, amdx wrote:
On 8/2/2022 6:46 AM, bitrex wrote:
On 8/1/2022 10:19 PM, amdx wrote:Agreed, but what is stupid is Florida only requires $10,000 of PIP
On 8/1/2022 8:08 PM, bitrex wrote:
On 8/1/2022 8:56 PM, amdx wrote:
On 8/1/2022 7:13 PM, bitrex wrote:
On 8/1/2022 7:59 PM, bitrex wrote:
On 8/1/2022 8:01 AM, amdx wrote:
On 8/1/2022 5:52 AM, a a wrote:
https://www.marketwatch.com/video/fire-starters/how-this-38-year-old-made-it-from-deep-poverty-to-millionaire/BBDDEEA1-FFBE-445A-8942-5B4FA4F66A07.html?mod=MW_article_top_storiesIt is not that hard to become a millionaire, assuming you >>>>>>>>> are financially disciplined for 30+ years.
My wife and I had an inflation adjusted income of $71k a year. >>>>>>>>> As an example of this, we earned
$18k in 1981, inflation adjusted that is $55k. I did these
calculations in 2018, when I retired.
I inflation adjusted income for all the years, added them up >>>>>>>>> and divided by the number of years, to get $71k.
We were good savers, we saved more than 10% to a max of 41% >>>>>>>>> on an especially good year (1986, I earned $60k)
I invested in no-load mutual Funds, Mostly Vanguards VTSAX or >>>>>>>>> VTI. We had the proverbial million in 2011,
and then the stock market took off and put us in the Top 5% of >>>>>>>>> US households.
This allowed me to payout $300k to get a child through >>>>>>>>> dental school with zero student debt and finance
a fixer upper house for a year until it was fixed and allowed >>>>>>>>> a standard mortgage.
I kills me to read about young people saying you can't get >>>>>>>>> ahead in the US, the man is holding you down, the
rich are controlling everything, the stock market is rigged. >>>>>>>>> It is not a group thing, every individual controls their future. >>>>>>>>> All you need is your health and the this country is your oyster. >>>>>>>>> The number one example of this is the Reddit subthread called >>>>>>>>> r/antiwork.
https://www.reddit.com/r/antiwork/Mikek
OK, bitrex, tell me how bad it is and how nobody can get ahead. >>>>>>>>>
"and then the stock market took off"
All the market has reliably done for the better part of 20
years is slump
BTW I didn't "get ahead" by investing I knew that was a lost
cause ages ago, I invested in education and my business ages
ago. I have an in-demand skill, much more reliable way of making >>>>>>> money than trying to play a game that, as you say, the very
wealthy rig in their favor.
It's funny you think you're one of them. You're way closer to a
bum than you're close to Elon Musk with your what...single-digit >>>>>>> million? Lol
Ya, you have said that before, Musk got under you skin and you
just can't shake him!
I don't know why you would use the very wealthy as a club.What >>>>>> does it matter, as long as I have enough to support myself for 30
years
and then give my kids a good inheritance. Your just showing your
hate for the rich.
Sir I live rather comfortably in one of the highest cost-of-living
areas on the planet, where one bedroom homes regularly sell for
$400,00 or more.
I'm not sure what kind of Stalinist-hovel-type of situation it is
you believe I dwell in.
I never said anything about where or how you live, don't be so
defensive. But I must say, I can't see why anyone earning 3, 4, or
$500k, would not attempt to save some of it.
What kind of a decadent life must you live where can't put at least
put 20% away for the future.
Anyway, not sure why you're blathering on about your financial
life story like you have something to brag about, if it's "not
that hard."
Because so few do it, and then they live on a meager SS check in
retirement. I want to encourage people to LBYMs.
I related my story because of the OP. I follow a couple of Early
retirement groups, and there many stories of people that have saved
enough that
they no longer need to work for income. And there are many readers
in the accumulation stage, that get encouragement in their journey
to reach Financial independence.
I will agree it is not a story that fits here, but maybe someone
will take inspiration. For those interested,
https://forum.mrmoneymustache.com/and
https://www.early-retirement.org/forums/
*_Living Below Your Means (LBYM) is a very powerful tool whether
you practice it during accumulation or during retirement....
Unfortunately, this is a deep dark secret to much of the populace_*.
BTW what happens if you disable somebody else in a car accident?
Most people don't carry nearly enough liability-to-others insurance.
And without enough the other party can go after everything you
have...I carry about a million bucks worth, it is as they say, cheap
insurance..
and PDL and bodily injury. An added that to the fact we have so many
uninsured motorists in Florida. Umbrella coverage prices have went up
a lot the last few years, used to be about $250 for $1M, now it is up
to $700 to $900. Happy to have agreement with you :-)
Yeah and the crappy thing is that if you cash in on your uninsured
motorist your premiums are very likely go up. Sucks to feel like
you're the one paying to get robbed twice.
It's not that expensive in isolation to bump those figures up, it's a
smart thing to do.
But point is that it's often not that cheap anymore to "live smart" in
the aggregate, a smart $20 extra a month here and another $20 fee
there and pretty soon you're talking real money, and starts slicing
into what you have to invest. It's not all avocado toast..
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