- Joined
- Dec 3, 2017
- Messages
- 19,634
I don't know about any of you, but I've known too many people who have had much more money and means than me, but who cannot figure out life financially. It has long been called champagne taste on a beer budget.
I saw someone recently that I used to see frequently, but hadn't seen in a couple of years, due to life. What she told me was so shocking that I couldn't stop thinking about it for days. She sold her "house" with servant's quarters for almost $2.5 million and sold her cabin for $330,000, all in the last 3 years. She bought a different home for $990,000. She told me she is almost out of money! She has inherited enough to live on for a few years and got a BIG settlement in her divorce.
I think the problem is that when you have so much money, you don't know how to handle it, like people who win the lottery. I think it must be a form of addiction. I'm sure that many people have no clue about budgeting, living within their means, etc. because they want what they want and they are going to get it, one way or another because they WANT it, not NEED it!
I know too many people whose homes have been foreclosed on, during healthy housing markets. I've known people who've made $250,000 a year, and never bought a home, just rented. I've known people who have inherited more money than I've ever had, and are broke with no home ownership.
I looked for some stories about baby boomers who will never be able to retire because of their spending habits. I could not find any, but I know that I used to see them 20 or more years ago.
What is wrong with these people? I bought a HUD home in a marginal area now with homes worth more than $1,000,000 as neighbors. HUD was going to be sued because they refused to sell my home to anyone who was already a homeowner. HUD dropped the price down, way down, and I was there, and blessed to get it. It is paid off.
We could do like another couple I know. I could do a reverse mortgage, take that money and go to Europe for a while. We could do like another family I knew about, farmers/ranchers in South Dakota, who built a new, large home, went to Europe in the summer, and lost their place within a couple of years.
Or we could live frugally, and below or within our means, with no debt, with paying off our property as a priority.
Have you had more than enough money? Have you lived frugally? Have you lived above your means? Do you have the latest and greatest in many things in life? Do you have a spouse that you are at odds with about how money is used and spent?
I saw someone recently that I used to see frequently, but hadn't seen in a couple of years, due to life. What she told me was so shocking that I couldn't stop thinking about it for days. She sold her "house" with servant's quarters for almost $2.5 million and sold her cabin for $330,000, all in the last 3 years. She bought a different home for $990,000. She told me she is almost out of money! She has inherited enough to live on for a few years and got a BIG settlement in her divorce.
I think the problem is that when you have so much money, you don't know how to handle it, like people who win the lottery. I think it must be a form of addiction. I'm sure that many people have no clue about budgeting, living within their means, etc. because they want what they want and they are going to get it, one way or another because they WANT it, not NEED it!
I know too many people whose homes have been foreclosed on, during healthy housing markets. I've known people who've made $250,000 a year, and never bought a home, just rented. I've known people who have inherited more money than I've ever had, and are broke with no home ownership.
I looked for some stories about baby boomers who will never be able to retire because of their spending habits. I could not find any, but I know that I used to see them 20 or more years ago.
What is wrong with these people? I bought a HUD home in a marginal area now with homes worth more than $1,000,000 as neighbors. HUD was going to be sued because they refused to sell my home to anyone who was already a homeowner. HUD dropped the price down, way down, and I was there, and blessed to get it. It is paid off.
We could do like another couple I know. I could do a reverse mortgage, take that money and go to Europe for a while. We could do like another family I knew about, farmers/ranchers in South Dakota, who built a new, large home, went to Europe in the summer, and lost their place within a couple of years.
Or we could live frugally, and below or within our means, with no debt, with paying off our property as a priority.
Have you had more than enough money? Have you lived frugally? Have you lived above your means? Do you have the latest and greatest in many things in life? Do you have a spouse that you are at odds with about how money is used and spent?