What sort of people lose the major source of their income and still insist on buying Ralph Lauren for their kids? It is not just a matter of financial well-being, but more importantly, life defining signals that are being sent to the kids. Is it wrong to be frugal? Would it kill her to buy clothes from Gap when it is on sale instead? Cotton is cotton no matter what label gets placed on it. Great article. Thanks for finding it.
It's unbelievable how many people in this country are so brainwashed into thinking that all these material objects are so important to true happiness. I guess they've been all brainwashed by the media into thinking these things are essential. It's the simple and free things in life that bring about the most joy. People just need to stop caring what other people think of them.
Twenty years ago there were men who, on hitting the big Five-O, were more than happy to take an early retirement. It would obviously require significant adjustments to make it work financially but the living would still be good though it would not have impressed the neighbors. Given this family¡¯s circumstances they could quite easily raise the two kids on their passive investment income. Cut the country club, nick the useless extra-curricular the kids do not want, maybe even move to a cheaper and healthier community, and both husband and wife can dedicate the rest of their lives to pursuing their interests instead of slaving in a job they probably detest. The problem with these people is that they do not really want anything out of life other than high consumption. Spend, spend, spend, that is what they want because spending money makes them feel good and powerful. They have so much and yet cannot stop wanting more. When is it ever enough? When will they realize that the pleasure they seek is also the cause of their pain?
Excuse me, but are you trying to imply that you are something special and are "in the know"? Should we bow down due to your greatness? Or are you just some jerk-off trying to play pretend on an internet forum? Personally, I think your parents need to cut down on your use of the family computer.
This is the harsh truth. Reality setting in. Most of the 100k+ jobs were running on cheap credit money and an overblown financial services industry. It cannot & could not last. Few faced this truth during the good times, but those that did are ready for the current changes.
Interesting perspective. IMO pursuing financial independence as a main goal is bad idea. Most people who get there then live lives of sloth and underachievement. See lottery winners, trust fund kids, and the accomplishments of most athletes post-retirement. Necessity, not comfort, is the mother of invention. Comfort is not far removed from laziness. Risk, not safety, is the driver of adventure, innovation, and motivation. Excessive safety leads to paranoia and a tedious, boring existence. Have you ever been in a comfortable, safe, but boring relationship? The idea that life/work is a treadmill which you will eventually escape if you achieve financial independence is also a bad one. It promotes the idea that work is something horrible which must be endured until you "make it". You will spend half your adult waking life at work. No monetary value is sufficient to compensate for selling half your life and 90% of your productive activity for something you hate. If your work stimulates and satisfy you then half your life is stimulating and satisfying, around other people who feel the same. That's almost priceless. If you made $10 million tomorrow, would you retire? If you hate your job or put up with it, yes. Have you ever actually spent 1-2 years as an adult not really working, out of choice? I have, and after the novelty wears off, it's boring as hell. Productive activity of some kind is essential for the mind and the soul. Leisure can only go so far and eventually leads to a dull, superficial, jaded and meaningless existence. The best way to treat money IMO is simply something that you get in return for doing productive activity you find satisfying. Let your income from that dictate your spending. Rather than pray for a miracle that lets you retire (a goal not worth pursuing IMO), plan to "work" the rest of your life and structure your finances accordingly.