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From Rags to... Wranglers
Old 10-13-2012, 09:33 AM   #1
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From Rags to... Wranglers

Short time lurker here. I’m 54, the DW is five years behind (I keep waiting for her to catch up, but…). Made good money in my 20s but blew it all . Wasn’t as wise as you 20 somethings who are on this forum (more power to ya). So I started from dead broke at 34 with five kids and one paycheck… finally got a job after months of being unemployed. DW had the harder job of raising the kids. We’ve now put 4 kids through college with no student loans. They’re on their own now . The last one’s a senior who will graduate the Fall of 2013.

So now, this young man’s thoughts gently turn to... FIREing . Planning to FIRE two years from now (late 2014). Flexible about timelines based on market conditions between now and then.

I’ve posted questions about finances in the FIRE and Money forum. Here it is.

Need all the sage advice I can get. Thanks y'all
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Old 10-14-2012, 09:41 AM   #2
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Welcome, goneboarding.
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Old 10-17-2012, 08:33 PM   #3
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Welcome! It is amazing how far you have come in just 20 years with so much spending on college tuition. Please tell us more about how you did it.

Cass
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Old 10-17-2012, 09:59 PM   #4
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Welcome! It sounds like your children are very lucky to have you as a parent who sent them through college without student loans.
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Old 10-18-2012, 05:02 AM   #5
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Quote:
Originally Posted by CMH in CO View Post
Welcome! It is amazing how far you have come in just 20 years with so much spending on college tuition. Please tell us more about how you did it.

Cass

Quote:
Originally Posted by Ally View Post
Welcome! It sounds like your children are very lucky to have you as a parent who sent them through college without student loans.
Thanks! To answer, LBYM, and didn't spend as much on college as most would think. Several kids started out in community colleges for the first two years, had jobs and lived at home, so they were able to pay their tuition/books the first two years. Transferred to 4 year schools (in state, state school and not the primary campus, so tuition was cheaper) to finish. Some got 3-4K scholarships/year which helped. They worked to cover living expenses, we paid tuition/books. None of them had cars going through college. Shared the family vehicles for work and community college when living at home.

Now, they're all appreciative of having graduated without loans as compared to their peers, and are putting that head start to good use. Oh, and the older ones are voluntarily helping us out with the youngest one's college expenses right now . We've been blessed.
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Old 10-18-2012, 09:58 PM   #6
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Our two made it out without student loans by similar strategies. It seems to be rare these days.
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Old 10-19-2012, 07:14 AM   #7
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Our two made it out from private colleges (one near top rated and one at the top) with no debt by presenting superior high school academic work such that they received full tuition scholarships as well as some credit toward room and board. No cars in college, control of expense, on campus jobs and getting it that they were there to learn, not vacation. As was stated earlier, now they appreciate being ahead of their peers and are using that lead to very good advantage.
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