The Savings Chart that Made Us Millionaires

Frugal_Millionairess

Is it me or are we getting a wee bit off track here??

First, thanks Paul for trying to keep it at the higher finance level. Why do I suspect you're the investment banker of the group? You have a good point about using after-inflation or real interest rates. It is not going to make a huge difference in our current low inflation environment, but could be material if inflation picks up again.

As to the rest of the gang, I'm not sure how things are in the U.K., but feel honor bound as an attorney myself to point out should you work with a U.S. company and refer to your female counterpart as "yum - yum", she's going to be drinking champagne on the Riviera with her lawyer while you're hoping the unemployment fund hasn't run dry.

And despite accusations tossed my way about "Spam" and "Paid Postings" among other things, I recently passed a background check to volunteer in my son's kindergarten class and even teach an Ethics course. Now if I weren't so honorable, my enterprising American nature would be seeing dollar signs with this group - we plug you in a deep pocket company, shoot off a few emails, work out some kickback scheme, and indeed retire early. Financial Independence sans professional responsibility - MSE style...Feel free to email me off line to discuss the ethical infractions involved or call my 1-800 Lawyers for Any Case that has any chance of settling, Cash upfront.....

Martin Luther King once said in his "I Have a Dream" speech that he wanted his children to be judged "not by the color of their skin but by the content of their character."

Likewise, the Frugal Millionairess wants to be remembered for the brilliance of her tightwad tips not for her "other assets".

In closing I just got email confirmation from the department of transportation that my balance has been paid and my new vanity license plates for my mini-van are being shipped. Let the other soccer moms gossip when YUM YUM pulls into the lot.;)

gozomark

Frugal_Millionairess wrote: »

First, thanks Paul for trying to keep it at the higher finance level. Why do I suspect you're the investment banker of the group?

For a septic, I'm impressed with your use of Cockney rhyming slang :rotfl:

tradetime

Frugal_Millionairess wrote: »

Is it me or are we getting a wee bit off track here??

First, thanks Paul for trying to keep it at the higher finance level. Why do I suspect you're the investment banker of the group? You have a good point about using after-inflation or real interest rates. It is not going to make a huge difference in our current low inflation environment, but could be material if inflation picks up again.

As to the rest of the gang, I'm not sure how things are in the U.K., but feel honor bound as an attorney myself to point out should you work with a U.S. company and refer to your female counterpart as "yum - yum", she's going to be drinking champagne on the Riviera with her lawyer while you're hoping the unemployment fund hasn't run dry.

And despite accusations tossed my way about "Spam" and "Paid Postings" among other things, I recently passed a background check to volunteer in my son's kindergarten class and even teach an Ethics course. Now if I weren't so honorable, my enterprising American nature would be seeing dollar signs with this group - we plug you in a deep pocket company, shoot off a few emails, work out some kickback scheme, and indeed retire early. Financial Independence sans professional responsibility - MSE style...Feel free to email me off line to discuss the ethical infractions involved or call my 1-800 Lawyers for Any Case that has any chance of settling, Cash upfront.....

Martin Luther King once said in his "I Have a Dream" speech that he wanted his children to be judged "not by the color of their skin but by the content of their character."

Likewise, the Frugal Millionairess wants to be remembered for the brilliance of her tightwad tips not for her "other assets".

In closing I just got email confirmation from the department of transportation that my balance has been paid and my new vanity license plates for my mini-van are being shipped. Let the other soccer moms gossip when YUM YUM pulls into the lot.;)

:rotfl::rotfl::rotfl: How very eloquently put, I do admire a subtle and highbrow put down, Ivy League per chance? I feel suitably spanked now...oops there I go again lowering the tone I will cease and desist forthwith. You have a charming house and a beautiful family.
Oh, and yes, in the UK a "Yum yum." compliment would invariably have one financially castrated nowadays.

Paul_Herring

gozomark wrote:

Frugal_Millionairess wrote:

First, thanks Paul for trying to keep it at the higher finance level. Why do I suspect you're the investment banker of the group?

Hardly

For a septic, I'm impressed with your use of Cockney rhyming slang

Oi!

tradetime

gozomark wrote: »

For a septic, I'm impressed with your use of Cockney rhyming slang :rotfl:

:beer: I missed that, my head is hung in shame.

cbrown372

Off track by miles this is the savings and investment board?

I just invested far too much time in reading this and it hasn't made me any savings so I guess I'm out, as our good old UK millionaires would say.

Viking_Man

OK so here's what you do:

1) Get to university

2) Graduate in law - one of the highest paid professions

3) Become an attorney

4) Marry another equally well-paid professional

5) Somehow manage, for a while, to spend more than the fortune you are earning

6) Realise how stupid you are being and stop wasting ludicrous amounts of money every month

7) Watch your savings grow!

8) Write a blog telling everyone they can get rich as well, merely by following the above steps, starting at step 6...

Somehow it doesn't quite feel like real life to me

chewmylegoff

Viking_Man wrote: »

OK so here's what you do:

1) Get to university

2) Graduate in law - one of the highest paid professions

3) Become an attorney

4) Marry another equally well-paid professional

5) Somehow manage, for a while, to spend more than the fortune you are earning

6) Realise how stupid you are being and stop wasting ludicrous amounts of money every month

7) Watch your savings grow!

8) Write a blog telling everyone they can get rich as well, merely by following the above steps, starting at step 6...

Somehow it doesn't quite feel like real life to me

it's much easier than this:

1) be quite a fit bird

2) become lawyer

3) meet investment banker, a couple of years older than you

4) initially spend all his money as he is not quite senior enough yet

5) he gets promoted to the "do nothing, rake in the cash" level of the bank

6) job done

jamesd

Viking Man, try The Millionaire Next Door instead. All of your points except 6 are not necessary. What is necessary is not spending all of your money today, but investing a fair chunk for tomorrow. A high income helps, of course, but simply not spending all of your money means that you can become wealthier than normal for those like you who don't do that.

Saving and investing more than 60% of my income means that I'm currently two or three years from having the money to live as I do for the rest of my life, or around ten years from being a US Dollar millionaire.

Jonbvn

Frugal_Millionairess wrote: »

As to the rest of the gang, I'm not sure how things are in the U.K., but feel honor bound as an attorney myself to point out should you work with a U.S. company and refer to your female counterpart as "yum - yum", she's going to be drinking champagne on the Riviera with her lawyer while you're hoping the unemployment fund hasn't run dry.

And despite accusations tossed my way about "Spam" and "Paid Postings" among other things, I recently passed a background check to volunteer in my son's kindergarten class and even teach an Ethics course. Now if I weren't so honorable, my enterprising American nature would be seeing dollar signs with this group - we plug you in a deep pocket company, shoot off a few emails, work out some kickback scheme, and indeed retire early. Financial Independence sans professional responsibility - MSE style...Feel free to email me off line to discuss the ethical infractions involved or call my 1-800 Lawyers for Any Case that has any chance of settling, Cash upfront.....

Typical litigious Yank! Which reminds me:

Q: What's the difference between a lawyer and a halibut?
A: One's wet and slimy. The other one's a fish.;)

So sue me!