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Old 09-25-2009, 08:51 AM   #21
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I know you live in a top flight home in a top flight location and you live a life that I couldn’t afford. Congratulations on your success!

Ha

Real nice there, sport. Real nice.

We built it ourselves. I think they called it sweat equity when I worked for Habitat. It isn't so nice, but it is ours--we own it, and that pride is what makes me feel like a success, not your twisted notion of what my life is like. Good luck to you.
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Old 09-25-2009, 12:46 PM   #22
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After nearly thirty years in Seattle, I start to wilt if the temperature gets much past 80 degrees
Take my most heartfelt advice.
Never, ever, under any circumstances visit Texas between April 1 and September 30. Even March and October might be iffy for you.
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Old 09-25-2009, 02:37 PM   #23
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After nearly thirty years in Seattle, I start to wilt if the temperature gets much past 80 degrees
Take my most heartfelt advice.
Never, ever, under any circumstances visit Texas between April 1 and September 30. Even March and October might be iffy for you.
Thanks for the heads up IP. I changed planes once years ago at Dallas/Ft Worth airport and remember getting off the plane and thinking it smelled like a tropical fish store, very damp and green. I didn't see a thermometer but for sure the temperature was over 60 degrees and may well have been approaching 70. That's no big deal except that at the time, I was flying to Monroe LA to visit my parents...for Thanksgiving.

So I consider myself warned to schedule any trips I may take to the Lone Star state during the winter months. Texas in the winter might make a nice change from my own stomping grounds where the weather tends to be raw & rainy at that time of year.
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Old 09-25-2009, 06:21 PM   #24
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I have to agree with Sarah. But like anyone else here my evidence is only anecdotal. I live in California in a small cabin 11/2 hours from the beach, 1 hour from the desert and in the mountains. It's quiet for the most part. It is still possible to buy a much nicer place (than mine) here for under 300,000. I'm sure that my neighbors don't know I'm the millionaire next door. Of all my sibs I think I'm the only one. My parents live in a townhouse 1 hr. north of Santa Barbara and they are in the multi-mil range. They have been frugal their entire lives. And I don't consider the home real estate in that net worth. My sibs with the big homes are underwater so to speak. But there are plenty of places to live in Ca. for around 300,000 where one would not take their life into their hands, especially now.
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Old 09-26-2009, 02:20 PM   #25
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Oh, I believe it. I think for a while there was a feeling that even if we are not "rich," we can still spend our way into happiness. Maybe it makes some of us feel rich. Hence the rise of "affluenza" and the idea that you had to show everyone else, through the amount and value of your "stuff," that you were a success.

Until you amass a lot of debt and you lose your j*b, anyway. Or until you desperately want to retire (or downshift into a lower paying career you'd enjoy a lot more) but you can't because you still have a lot of debt and no retirement savings.

I can't speak for anyone else but I know I've become a lot happier since downsizing our lives, becoming debt free and feeling like the future is a LOT more in my own control than it used to be. That's a feeling that no amount of stuff can replicate. That's a feeling of true freedom and maximum liberty.
I realized I could take early retirement when my spreadsheets showed I was spending less than $20K/year.
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Old 09-26-2009, 02:22 PM   #26
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Here's a quote from Dr. Stanley's blog today, more preaching to the choir, but at least this will give you something to quote the next time someone asks you why you don't own x or y or z.

The reason why so many homeowners today are having a difficult time making ends meet goes way beyond merely mortgage payments. When you trade up to a more expensive home, there is pressure for you to spend more on every conceivable product and service. Nothing has a greater impact on your wealth and your consumption than your choice of house and neighborhood. If you live in a pricey home in an exclusive community, you will spend more than you should and your ability to save and build wealth will be compromised.

My research has found that most people who live in million dollar homes are not millionaires. They may be high income producers, but, by trying to emulate the real millionaires, they are living a treadmill existence. In the U.S., there are three times more millionaires living in homes that have a market value of under $300,000 than there are living in homes valued at $1 million or more.
I live in a small house in a blue-collar neighborhood; no pressure to upgrade/show off.
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Old 09-26-2009, 02:24 PM   #27
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I see this in my auto purchase. I look at the models with leather interior, but always buy the one with cloth.

When I was growing up, my dad, told a story of a very wealthy friend that drove a Cadillac with black wall tires. When dad ask him why, he got this reply, '.... it don't drive any better with whitewalls!'. This man could easily afford anything he wanted.
I drove the same car for 18 years: '89 Ford Festiva.
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Old 09-26-2009, 05:30 PM   #28
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I realized I could take early retirement when my spreadsheets showed I was spending less than $20K/year.
You are my role-model!

I am still above that, (~24k, not counting taxes, and the company pays health insurance) but I plead that I live in a nice area of NYC.

I am trying to figure out how to retire early, and not have to leave town, :::sigh:::

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Old 09-26-2009, 09:34 PM   #29
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You are my role-model!

I am still above that, (~24k, not counting taxes, and the company pays health insurance) but I plead that I live in a nice area of NYC.

I am trying to figure out how to retire early, and not have to leave town, :::sigh:::

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Do you have a rent controlled apartment?

Ha
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Old 09-27-2009, 07:56 AM   #30
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I drove the same car for 18 years: '89 Ford Festiva.
Was it on this Forum that there was mention of the results of an identical crash involving a 1959 Chevrolet Bel Air and a 2009 Chevy Malibu showing instant death in the driver of the Bel Air while the driver of the Malibu suffered "only" a broken arm?

18-20 years is too great a period to go without upgrading safety and security options.

(Having said that, I have to admit that my "run-around-town" vehicle is a 1992 Dodge Caravan with 165,000 miles on it but safety does cross my mind occasionally.)
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Old 09-27-2009, 10:55 AM   #31
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Was it on this Forum that there was mention of the results of an identical crash involving a 1959 Chevrolet Bel Air and a 2009 Chevy Malibu showing instant death in the driver of the Bel Air while the driver of the Malibu suffered "only" a broken arm?

18-20 years is too great a period to go without upgrading safety and security options.
I survived (walked away, sort of) a fast head on crash in a new car. I monitor auto safety changes; if they were big enough I would buy new after only one year had elapsed.

My "will-get-before-long" list now includes side-curtain air bags, (the ones that protect your head) since someone I know got t-boned and had her brains scrambled. She still isn't really thinking with normal facility several months later.

Reasonable frugality is my goal.

Ha
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Old 09-27-2009, 11:22 AM   #32
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Was it on this Forum that there was mention of the results of an identical crash involving a 1959 Chevrolet Bel Air and a 2009 Chevy Malibu showing instant death in the driver of the Bel Air while the driver of the Malibu suffered "only" a broken arm?

18-20 years is too great a period to go without upgrading safety and security options.

(Having said that, I have to admit that my "run-around-town" vehicle is a 1992 Dodge Caravan with 165,000 miles on it but safety does cross my mind occasionally.)

Damn, then I guess my 1976 Airstream motorhome is a deathtrap!
Our two daily drivers are 13 and 14 years old, the spare car is 25 years old (big Merc diesel). I might risk death for the chance to have a 1959 Bel Air, though, no kidding! Our dailies do have airbags, but not the side ones, just front.
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Old 09-27-2009, 02:51 PM   #33
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Do you have a rent controlled apartment?

Ha
No, I'm one of those 'bought & paid off the mortgage' people. All I pay now is the coop maintenence, and we keep that as reasonable as we can.

(My friend in Manhatten is in a stabilized apartment, and hopes to live long and prosper )

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Old 09-27-2009, 02:55 PM   #34
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Congrats, mews--that is awesome! As a fellow "free and clear" I love it! But I do agree you are going to have a tough time retiring there. Come south!
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Old 11-18-2009, 10:28 PM   #35
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Review of Dr. Stanley's "Stop Acting Rich...and Start Living Like a Real Millionaire":

If you've read "The Millionaire Next Door" or even his blog, you've just about read it all. I couldn't get past page 40. I mean, how many times can you state that the typical millionaire doesn't buy Rolex watches? And yet, according to the Table of Contents, there was a whole chapter on it later in the book! Same for cars, wine, and houses.

I was on the library waiting list for this book for about a month. I guess the next guy in line will get it a little sooner than he expected!
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Old 11-19-2009, 01:03 AM   #36
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Review of Dr. Stanley's "Stop Acting Rich...and Start Living Like a Real Millionaire":

If you've read "The Millionaire Next Door" or even his blog, you've just about read it all. I couldn't get past page 40. I mean, how many times can you state that the typical millionaire doesn't buy Rolex watches? And yet, according to the Table of Contents, there was a whole chapter on it later in the book! Same for cars, wine, and houses.

....
The Amazon sample is generous and seemed like enough to me.
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Old 11-19-2009, 07:41 AM   #37
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Review of Dr. Stanley's "Stop Acting Rich...and Start Living Like a Real Millionaire":

If you've read "The Millionaire Next Door" or even his blog, you've just about read it all. I couldn't get past page 40. I mean, how many times can you state that the typical millionaire doesn't buy Rolex watches? And yet, according to the Table of Contents, there was a whole chapter on it later in the book! Same for cars, wine, and houses.

I was on the library waiting list for this book for about a month. I guess the next guy in line will get it a little sooner than he expected!
Sounds pretty boring! And it also sounds outdated, as far as what being a millionaire implies these days. Many of us here are millionaires but cannot really afford what people think of as a millionaire lifestyle.
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Old 11-19-2009, 09:41 AM   #38
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I have not read any of them, but may read the new one. I do have a car problem, but tend to value shop and buy used higher end cars.

I like nice stuff, but never buy top of the line. I like middle of the road stuff, at steeply discounted prices.

I will buy top of the line tools and guns. Stuff I will have for the rest of my life.
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Old 11-19-2009, 11:03 AM   #39
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I loved it but didn't waste much time on the tables!
I am in the middle of Superfreakonomics which is also fabulous.

As someone who deals with "blue collar" millionaires in my daily life, this is more affirmation of a lifestyle I recognize regularly.
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Old 11-19-2009, 11:08 AM   #40
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My gal's little joke is "dressing like a millionaire". For her, it's just whatever she's wearing and often from New-to-You. Our home is worth under $300k - we bought it in 1994 for $30k and spent the next 6 years doing stuff to it - like everything. Here in the Willamette valley we are free from sweltering heat or serious winter and within an easy 1 1/2 hours of the ocean, skiing, plenty of lakes and mountains, desert landscape, a bit of civilization in Portland and an international airport. Hear the beer and coffee are pretty good as well. If I insisted on walking everywhere like Haha my choices and viewpoint might be different, but my anecdotal experience is that there are plenty of balance sheet millionaires leading unassuming lives. Seems like they are balance sheet millionaires because they have their money working - if it wasn't working they wouldn't be millionaires.
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