Millionaires Who Are Frugal When They Don’t Have to Be

[MrFantastic]

I don't understand this mindset and I never will. people just see the world differently.

My idea of fun is out in the forest with my family camping. Working out in the gym. Or making music. Or working on my backyard farm.

even when I was young like you(26, can't believe that is 6 years ago now), I thought traveling was too expensive and not worth it. On work vacations, I would usually stay home. I also drove the same mr2 turbo for nearly 8 years. I still miss the fun of that car to be honest.

Last year, my wife and I went to Maui on 1000 dollars (everything) and we had a great time. We didn't set a budget of 1000 dollars (including everything). That is just our spending levels. We are not really into partying, gambling and drinking. When you don't do those types of things, travel is really cheap.

When we had our first kid, we didn't pay for anything for him at first. We got 3 months of diapers, A new crib, and a 400 dollar stroller as gifts. My wife then got dozens of used baby equipment from friends, co-workers and the Chinese facebook community. People say babies are expensive?

Serious question

How did you pull that off? I went to Maui last year and was salty when i saw my cc bill.went on some tours..ate out..Rented car..scuba diving..a bunch of other stuff...spent easy 2500..rhat doesn't include flight and condo..and we thought we was being smart buying food to cook and snacks...

 

[Jahbarri]

only generous souls attain greatness. drop stacks get it back call that shyt karma.

 

[hashmander]

i consider myself a frugal person. i really don't buy anything unless i feel i'm getting a deal. i don't like the thought of someone getting the same thing as me for cheaper. it's not about the cost, more about a deal for me. if i was a millionaire i would have a practical house and car because my other interests would be expensive: season tickets to arsenal and weekly flights (sometimes twice a week) to london (and other european destinations) to catch the games (home and away). and i would buy an apartment in the old highbury stadium. after that i couldn't afford to "splurge" on a mansion and luxury cars because i would have already spent a lot of money on something that captures most of my interest.

 

[mbewane]

I look at these people the same way I do religious people.




You only live once, and men die young. I'm 26, I'm not getting this time back. They print these articles like there's something noble about their actions...

I want to travel, buy sports cars and spend thousands on entertainment a month I will.


They seem like boring people to me.

Regarding aging if you're poor(no pun intended) at financial planning and refuse to take risk what do you expect to happen?

America is an extremely cruel country with no meaningful social safety net and extremely shoddy laws and medical care.

I agree, these people are portrayed as doing something noble, and by contrast it portrays people who want to enjoy more as not. I don't see anything "noble" in saving or whatever, it's just a choice/way of life. Me personnaly I don't spend much on material things, partly because I'm too lazy to go shopping lol most of my spending is on things I do (travel, restaurant, shows, etc) but even for that I sometimes catch "cold feet" abuot spending, for whatever reason. It's also funny : I have no problem spending 50-60 euros on dinner, but feel if I spend 50-60 euros on nice pants. To each his own : some of my friends seem to be constantly broke lol but they've also seen many more countries than I have and in general "live life" more than I do. I do kind of find it crazy to put a lot of money on material belongings, but let's say that I can understand.

 

[babylon1]

we need a meaningful social safety net so that people are not afraid to spend

 

[Amestafuu (Emeritus)]

Nothing great about this. Live below your means on purpose. OK

Hope they don't die and leave that loot to the bank lol

 

[50CentStan]

Al and Saundra Karp bought their three-bedroom home in North Miami Beach, Florida, for $77,000 in 1980. Over the years, they refinanced, partly to pay down credit-card debt, and their mortgage swelled to $288,000.

Al, 86, kept working as a tax accountant into his late 70s. But Alzheimer's disease forced him into retirement.

The couple is getting by on about $2,500 a month in Social Security and Veterans Administration benefits, plus food stamps and help from their two sons. They stopped paying the mortgage and are fighting foreclosure in court. And they've failed to persuade the bank to modify their mortgage and lower the $1,900 monthly payments.

To ease the stress and earn some cash, they perform old musical standards as the Karp Family — Saundra on vocals, Al on sax, son Larry on keyboards.

"I'm trying desperately to stay here," Saundra says. As for Al: "He thinks the mortgage is paid. He hasn't got a clue."

Not trying to be cruel, but let me know when's the auction, I'm interested in the property.

 

[Scientific Playa]

Not trying to be cruel, but let me know when's the auction, I'm interested in the property.

why not be cruel? this form of banking structure and capitalism in place sure is. as far as auctions its a murky situation in the red hot south florida market. wealthy investors, hedge funds, and private equity firms have virtually knocked the working class guy out of the real estate game. they've been bidding up the price of properties when they come on the market and paying with cash. then they either sit on the properties as a tax strategy or rent them out, many times to those that got foreclosed on because they will have some sort of mixed up pride in maintaining the parcel like its still theirs. in the u.k. they call it keeping up appearances, over here we call it fronting.

https://www2.miami-dadeclerk.com/mfs/
Foreclosures
Welcome to the Foreclosures Online System
Instructions on the LIS PENDENS Research Tool
Everything you need to know on how to use the LIS PENDENS Research Tool.

LIS PENDENS Research Tool
Navigate through the images of all LIS PENDENS (including Foreclosures) recorded on a given date or date range and obtain historic recorded documents for the property (Mortgages and Deeds) as well as property appraiser records (addresses, maps, sales and tax information).
Online Foreclosure Auctions
Get information on properties being sold as a result of a Foreclosure Process.
Bid on properties being sold as a result of a Foreclosure Process.
Foreclosure Statistics
Get Foreclosure Filing Statistics.

 

[Cynic]

why not be cruel? this form of banking structure and capitalism in place sure is. as far as auctions its a murky situation in the red hot south florida market. wealthy investors, hedge funds, and private equity firms have virtually knocked the working class guy out of the real estate game. they've been bidding up the price of properties when they come on the market and paying with cash. then they either sit on the properties as a tax strategy or rent them out, many times to those that got foreclosed on because they will have some sort of mixed up pride in maintaining the parcel like its still theirs. in the u.k. they call it keeping up appearances, over here we call it fronting.

https://www2.miami-dadeclerk.com/mfs/
Foreclosures
Welcome to the Foreclosures Online System
Instructions on the LIS PENDENS Research Tool
Everything you need to know on how to use the LIS PENDENS Research Tool.

LIS PENDENS Research Tool
Navigate through the images of all LIS PENDENS (including Foreclosures) recorded on a given date or date range and obtain historic recorded documents for the property (Mortgages and Deeds) as well as property appraiser records (addresses, maps, sales and tax information).
Online Foreclosure Auctions
Get information on properties being sold as a result of a Foreclosure Process.
Bid on properties being sold as a result of a Foreclosure Process.
Foreclosure Statistics
Get Foreclosure Filing Statistics.

Private equity and hedge funds raise capital from pension funds too... working class babyboomers benefit from these returns :pharrell:

 

[hayesc0]

Nothing wrong with being rich and smart with your money but I couldn't enjoy it if I had that mentality that's the mentality I have to operate with now lol.

 

[Scientific Playa]

Private equity and hedge funds raise capital from pension funds too... working class babyboomers benefit from these returns :pharrell:

luckily the ticking derivative time bomb that they employ hasn't exploded since 2008.
unfortunately congress didn't revamp the laws to protect the system after the last meltdown.

 

[Cynic]

luckily the ticking derivative time bomb that they employ hasn't exploded since 2008.
unfortunately congress didn't revamp the laws to protect the system after the last meltdown.

Aaaaah you are one of those types.

 

[Scientific Playa]

Aaaaah you are one of those types.

sho nuff.... i admit to being one of those types that reads and has a rudimentary knowledge of bubbles.

 

[Cynic]

sho nuff.... i admit to being one of those types that reads and has a rudimentary knowledge of bubbles.

- Blame capitalism
- Blame government


seems legit :madiba:

 

[Scientific Playa]

- Blame capitalism
- Blame government


seems legit :madiba:

you forgot an adjective

Blame (corrupt) capitalism

Blame (corrupt) government

when you dust off the soil of the rock you've been living under try and get up to speed on the lax government watch dog agencies that allowed that last meltdown to occur,
look up liar loans, robo signings, and look up articles on why no heavy weight bankers went to prison.


from the esteemed magazine that calls itself 'the capitalist tool'

Big Banks and Derivatives: Why Another Financial Crisis Is Inevitable

http://www.forbes.com/sites/stevede...ltdown-the-water-is-still-full-of-big-sharks/


the goat financial investigative journalist

Covering Up Wall Street Crimes: Matt Taibbi Exposes How SEC Shredded Thousands of Investigations

http://www.democracynow.org/2011/8/23/covering_up_wall_street_crimes_matt




Three big credit-rating agencies are still trying to restore reputations damaged by the high ratings they gave risky securities before 2008 financial meltdown.
http://www.usatoday.com/story/money...gencies-2008-financial-crisis-lehman/2759025/