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The Millionaire next door
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#YOLO :beer:0
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I also bought it cheap second hand, read it cover to cover (it's quite short TBH) and found it informative but not riveting.
I've put it on my wife's reading pile. and keep jiggling towards the top.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
I read this a few years back - mainly highlights that constantly increasing spending as earnings increase just creates a vicious cycle of 'bigger better' - basically stay humble and base happiness on quiet affluence instead of conspicuous consumption. Other main message is that passing money to adult off spring is almost always a mistake - they will (sub-consciously) learn to rely on it, expect more and consequently not learn the hard financial lessons; not sure how that sits with today's younger home buyers....0
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It's been a few years since I read it, but basically its saying that if you end up splashing out on luxury items all the time, you're more likely to be working to the bone until your death. However, if you are sensible, even frugal, save for retirement, buy what you need, buy in bulk when you do etc. then you are more likely to be able to save and effectively become a millionaire, without ever needing that job in banking or that win in the lottery.
it is quite American though.
It's about balance I would guess, no point over saving until late retirement, 1st some don't reach that age and those that do are not in the same state of health as they were when they were 30-60.0 -
no point over saving until late retirement
But if you don't start saving *much* earlier, how are you going to be able to afford to retire?
Magic money trees are thin on the ground.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
gadgetmind wrote: »But if you don't start saving *much* earlier, how are you going to be able to afford to retire?
Magic money trees are thin on the ground.
I did put over saving, I'm not suggesting don't save for those silver years, having a 5 or 6 figure bank balance means little if one is never going to spend any of it.0 -
I did put over saving, I'm not suggesting don't save for those silver years, having a 5 or 6 figure bank balance means little if one is never going to spend any of it.
OK, fair enough. But you're going to need seven figures on the exponent, and a decent mantissa, unless you have a defined benefit pension IMO.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
gadgetmind wrote: »OK, fair enough. But you're going to need seven figures on the exponent, and a decent mantissa, unless you have a defined benefit pension IMO.
Depends what you expect, want and need to make you happy. Everyone is different.
Money can't buy you love - or health."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Never let the perfume of the premium overpower the odour of the risk0
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grizzly1911 wrote: »Money can't buy you love.
Perhaps not, but if can let you look for it in comfort.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0
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