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Old 12-14-2014, 08:32 PM   #21
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When I was 15 back in 1978 and early 1979, it was the last age in my life I did not work until I ERed 6 years ago. I had little money, of course, so I was glad when my grandparents, all of whom were still alive in 1978 (one would pass away in early 1979) would throw a few dollars at me.


I was learning the value of compound interest thanks to a passbook savings account I had at the time. It was nice to see money added to my bank balance without having to do anything, something I would greatly accelerate as I got older.


I also learned how important it was to use your seat belts when riding in a car. My dad had just bought a VW Rabbit a few months earlier when he was in a horrific head-on car crash. He was not one to always wear a seatbelt before that, and the seat belts in cars built at the time rarely had that automatic belt-tightening feature when the car had a huge reduction in speed (but the Rabbit did). He got banged up a bit but made a full recovery a few months later. I shudder to think how different my life would have been had he been severely injured or had been killed in that crash. I never needed a state mandatory seatbelt law to make me and my passengers wear their seatbelts once I began driving 3 years later.


As to earning $1M in my lifetime, I barely exceeded it in my 23 years of working, the last 7 part-time. My investment earnings, not counting those in my old 401k and my current Rollover IRA, and not counting company match dollars, are nearly $800k and will likely surpass my wage earnings in a few years.


I only wish my mom were still alive (she died 19 years ago) so she could see how I took what little I learned from her and turned it into an early retirement in 2008. She would have turned 79 a few weeks ago had she still been living.
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Old 12-18-2014, 11:53 PM   #22
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At 15 I was doing all sorts of odd chores and selling "Currier & Ives" cards door to door to make some $$$.
All so I could go downhill skiing.
I remember opening a savings account, because the bank would give you a one day ski pass.

Like most folks here, my parents were not well off, in the summer we used to eat BBQ chicken wings every night that we cooked. I found out later we ate them because the butcher would give them away for free. It was before wings became a thing at the bars.
The butcher also would give away soup bones, so I learned by watching to make soup from scratch.
I think it was my parents frugal ways that helped me value money.
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Old 12-19-2014, 01:00 AM   #23
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Pretty funny. Wings are now more expensive than any other part of the chicken, due to some woman up in Buffalo.
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Old 12-19-2014, 02:38 AM   #24
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When I was 15 I had at least one j*b. I wasn't thinking about ER, I was thinking about becoming FV. A prize for anyone who can define "FV".
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Old 12-19-2014, 04:45 AM   #25
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15, eh?
"White Punks on Dope" is an apt enough description.
Lazy kid then, lazy adult later - I didn't get a real job until I was 28.

I certainly didn't focus on financial goals when young, but knew even then that I didn't like work (and could do the math to know just how long I'd have to suffer the yolk before I'd never have to do so again). Just about there!
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Old 12-19-2014, 05:12 AM   #26
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Paper route at 14 then got first "real" job at 15 sweeping up at a local hardware / lawnmower shop. When my work was done, the mechanics would show me how to fix lawnmowers. I parlayed that skill into an engineering degree, working part time in small engine shops all through through college.
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Old 12-19-2014, 05:51 AM   #27
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When I was 15 my sister and I had a great group of friends who sheltered us from our parents' heavy drinking and occasional arguing. I decided that year to become a doctor, for 3 reasons: 1. I was the smartest kid in school, 2. I wanted to make a difference, and 3. I wanted to be financially secure.

Because my parents stayed home drinking and smoking, we never went anywhere or spent any money, and dad always said we couldn't afford stuff. Most of my friends were actually fairly poor too. So LBYM was easy for me. Watching my parents I also learned that sobriety was a better deal.


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Old 12-19-2014, 11:02 AM   #28
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Quote:
Originally Posted by Sunset View Post
At 15 I was doing all sorts of odd chores and selling "Currier & Ives" cards door to door to make some $$$.
When I was 10, I did the American Seed Company door-to-door gig. By 12, I was burying 50 copies of a weekly shopper, delivering only 1 to the guy who'd complain if he didn't get it. By 15, I was delivering the Sunday Milwaukee Journal on campus...never forget the first time I innocently went to collect from a girls' dorm..."MAN ON FLOOR!" That was the last time I didn't use the phone from the lobby (and probably the last time I got all my money..."my roommate ordered the paper and she's not here").
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Old 12-19-2014, 11:11 AM   #29
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When I was 15, we were living in a housing project in New England (family of 5).
I grew up in a 1BR house. Mom and Dad had the bedroom, my oldest brother slept in the basement, my next two oldest brothers slept in the pull-out sofa bed in the living room, with me beside them on a roll-away. When the oldest when to college, the next moved downstairs and I moved over to the sofa bed. When the next went away to college, the other didn't move downstairs and I still had to share (I could have gone to the cellar, but it was musty). That last brother went to college in town, so the first time in my life that I had a real bed was in a dorm when I went away, leaving him on the sofa bed.

But, we all survived and all got our degrees (Mom had a high school diploma and Dad got to the 10th grade), the first three on $1,000 per year from the folks and me on $1,000 per year for just the first two years. (I let them off the hook when I got out of the Army and had the GI Bill.)
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Old 12-19-2014, 01:14 PM   #30
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.......1. I was the smartest kid in school......
I'm kind of surprised that the school IQ tests were shared.
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Old 12-19-2014, 01:34 PM   #31
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When I was 15, I was mowing lawns and working in a bait shop. Great jobs.
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Old 12-19-2014, 01:47 PM   #32
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When I was 17, it was a very good year..
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Old 12-19-2014, 01:54 PM   #33
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When I was 15, I babysat all the time. My dad made a very good living, and always stressed saving, working hard, getting an education and planning for the future. I can't say that it was ever on my mind to make millions, but I did want to plan my future and career so I would be secure.
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Old 12-19-2014, 05:39 PM   #34
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When I was 15 I was trying not to turn red when I was trying to talk to girls.
That! I had two sisters but they weren't really people, just weird, so they didn't count as girls. Girls were very mysterious, stunningly beautiful, and I was absolutely sure that I'd say/do the dumbest thing I'd ever done if I even thought to try to talk to one. So I didn't, for about two more years.

We had it pretty good compared to some. Not a lot of money but Dad had a steady job as an electrician with the local power company and worked inside, in a "meter lab" and wore a suit, white shirts and tie to work. So steady meals and we lived in a pre WWII 2 BR cape cod house, with the attic converted to a 3rd BR. We bought our cars at a junkyard and did the necessary repairs to keep them running. At one point we had four, one as a spare because they weren't reliable all the time. Mom had a job and older sister commuting to college.

I worked when I could mowing lawns, where we lived teens were not allowed to work in a business (gas station, restaurant, etc.) until they were 16. I got my first hour of flight instruction in an airplane with lawn mowing money. Dad bought my first car for me when I was fifteen. He paid $50 for it and I had to put the new transmission in it before I could drive it. Used a scissors jack to raise it and took the engine off a lawn mower deck to wheel it into place. I forget what repair was going on in this photo but I was thrilled to have a car that ran. Most of the time anyway.
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Old 12-19-2014, 05:52 PM   #35
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Can't resist.......

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Old 12-19-2014, 05:58 PM   #36
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When I was 15 I was setting pins in a small local bowling alley for league night. I think it was $5 for one lane but if I jumped lanes and did two it was $8. Two lanes was a lot of work.
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Old 12-19-2014, 06:26 PM   #37
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Pretty funny. Wings are now more expensive than any other part of the chicken, due to some woman up in Buffalo.
In my last RV trip, one of the stops was a state park not far from Niagara Falls. I decided to drive to Buffalo to see what it looked like. I had forgotten all about Anchobar when we happened to drive by the place and saw their sign. Of course we had to stop to go in to get some wings to be able to say that we have been there.
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Old 12-19-2014, 07:06 PM   #38
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When I was 15 and working, I wasn't thinking about saving a million dollars. I was saving for the truck I was going to buy when I got my license at 16.
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Old 12-20-2014, 07:15 AM   #39
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From age 12 to age 16 (8 weeks in the summer) I was employed here:
RIAC Westwood YMCA

... first as a Junior Counselor age 12-13 then as a Senior Counselor 14-16.
Camp rates then were $7 for 2 weeks. This paid off as after College, and before the Army, I was employed as Waterfront Director at the YMCA Camp in Winthrop Maine. "Pay" was free camp.

Being at summer camp for 8 weeks for 5 years,was probably the best educational experience a young person could have. (and it probably helped my parents financially too... Tough times in the late 1940's.

During the rest of the year, my "job" was swimming... 2 to 3 hours per day, and much travel for swim meets. Paid off in four years full scholarship at college.

We didn't think in those days that athletics would be a path to college, but can understand now, why parents are willing to subsidize athletic camps and coaching. In today's real dollars, a four year education at my school costs about $250K. Not a bad payoff for all that practice... So, I guess you could call that training time "w*rk".
.................................................. .................................................

(edit) to add a sudden memory spark... We rode back and forth to camp in the back of a big old stake truck... 20 kids at a a time... standing in the open truck bed, with suitcases stacked at one end. It was about an hour trip... no one thought a thing about this at the time... just another part of the great adventure.
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Old 12-20-2014, 09:49 AM   #40
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I'm kind of surprised that the school IQ tests were shared.
Our SAT scores were shared on occasion. I remember the teacher that called me out. I'd spend my time in school figuring out where I could fit in and not be hassled by teachers or beat up by other kids. Right in the middle of pack.

This teacher chewed me out for being in the middle of his class("You should be a straight A student"), in front of the entire class. I scored whatever(top couple of percentile, he told me and the other's what it was) on SATS.

Then the beatings by other kids resumed. It wasn't cool to be smart. My best friend stepped in and threatened anybody that beat on me would be dealing with him. My buddy didn't care about smart, he's a true friend to this day.

The teacher wasn't the worst teacher in that school. I know he was trying to motivate me, he honestly didn't know the repercussions I'd face.


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