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Old 04-07-2013, 05:13 PM   #21
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Originally Posted by Midpack View Post
I suspect we are born with a blank money slate, and then we learn from life's experiences. But it could be; genetic, epigenetic, learned only, or some combination, I don't know. I do know, my relationship with money has changed, based on my life experiences.

0-20 yrs. I hand very vague concept of money growing up in WV. Was poor, lived hand to mouth, yet not aware of the condition; such was the status quo in that part of Appalachia in the 60's.

20-30 yrs. Soon after our marriage, I had to sell my wedding ring to pay the rent, otherwise we would have been homeless. Rent was $140 per month, for a furnished apartment. I never replaced that ring as a reminder of my poor money judgement. That was my money wake up call. Moved to the midwest in search of the American dream.

30-40's My money wake up call left a mark, and I became a saver & was driven to make money. Started paying attention to how money works. At 42 I had my first million.

50's Balance between spender & saver, reached FI & now sprinting towards ER with a 2x safety factor, at our present burn rate.

60's & beyond. Plan to maintain a SWR, & spend the excess to make the world a better place, hope to die with the same birth NW I started out with; $0.00.

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Old 04-07-2013, 05:54 PM   #22
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I leaned from Gramps, in 1958 he needed a new car. His heritage was Northern European so the first car he looked at was a Mercedes-Benz 190d (Ponton) the price was manageable, but he wanted to look some more. Next stop looking at an American Motors Rambler Classic. The Rambler was loaded,the M-B typical of the period, bare bones, no A/C, roll up windows no PS, and std transmission. So Gramps takes the Rambler. On the way home Gramps says, gee if I showed up at church in the Benz, they would expect a bigger offering. Enough said.

For me experiences are not good or bad, just different
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Old 04-07-2013, 07:33 PM   #23
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I grew up in a housing project. We had little money except for bills. My dad drove a car her bought out of a junk yard and fixed up. My friends and I played a lot of sandlot baseball and had only one ball that we kept alive by wrapping electrical tape on the outside as the cover wore off. 10 cents bought an ice cream cone (when we had the money).

I left home at 17 and worked setting pins in a bowling alley. I joined the military to get an education. Boy, did I get one in Viet Nam!

I put myself through college and now I am successful. I still work at 69 and have saved a tidy sum, own three houses outright, have no debt and raised a good family. I still hate to spend a nickle unwisely.

I enjoy reading about you folks who retired early and are FI.
......."Everybody has a plan until they get punched in the face." -- philosopher Mike Tyson.
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Old 04-08-2013, 06:43 AM   #24
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I'm probably middle-ground on this. Growing up it never occurred to me to save a nickel except for things to happen in the next month or two. Parents and both sets of grandparents were Depression-era and I supposed a lot of that rubbed off on me. Where I grew up it would be described as "working poor" so frugality was a necessity but there were occasional splurges so we were by no means impoverished.

My divorce in the early '80s was a bit of a wake-up call especially after I bought a house and the payment took up almost half my net pay. That turned out well though since it fixed the price of housing which was rising rapidly in that area at the time. Three or four years later it was no strain at all. Ten years later a house payment that low was a joke.

Admittedly DW is the one to gently put the brakes on some of my more impulsive ideas and is better at looking further ahead than I am so I think I'll keep her.
I heard the call to do nothing. So I answered it.
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Old 04-08-2013, 10:00 AM   #25
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I think the argument could be both. My parents were born in the late 1930s. They remember rationing and growing up relatively poor. My father was middle-class successful, so I never felt any issues or family pressure related to money. But, my parents saved their money, never played "keeping up with the Jones'", never had any credit card debt, and retired at 57.

Is it in our family genes or just how we all grew up? My aunt was able to retire in her mid-50s after saving her whole life. My sister and I are both relatively frugal and plan our savings goals and retirements. Whether we learned from other family members, or it is just inherent in our natures, I am glad for it. I have always been kind of a money-worrier, but now that I am in my mid-40s and my plans are going well, I am much more relaxed than I was a decade ago.
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Old 04-09-2013, 01:46 AM   #26
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I have always been a saver also, although I do not have any problem spending money on those things that are very important to me.
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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Old 04-11-2013, 05:46 AM   #27
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I'm a born saver, but it probably comes more from my maternal grandmother than my parents though my mom also tries to save, but she also likes to have nice clothes, repaint interior every 4-5 years, but I don't see value in that. Because of that I'm probably considered stingy because trinkets and unnecessary/unpractical stuff in the house bothers me more than gives joy.

I also started reading food labels and serious excercising 2-3 years ago
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Old 04-11-2013, 09:37 AM   #28
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Definitely. I have been a saver all of my life. It's just my nature. Luckily my husband and I have similar views on money and are both saving type. He bought me Your Money or Your Life before I turned 30. It's been a guiding principal, though if we had followed it diligently we would have retired years ago. But, we've been steady and consistent. We own our primary home and a small farm. We have two sons to get through college and are mostly relying on current income and some 529 money for that. We chose to pay off our mortgages first as the interest rate on our primary home was more than we were making in our investments at the time.

I have this thing about liking to sleep at night without worrying about money =)
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Old 04-11-2013, 07:42 PM   #29
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I was raised by my biological parents and they spent EVERYTHING. When times were good, we ate filet mignon and drove Cadillacs. When times were bad, we had to cut everything back. I grew up knowing that I didn't want to live like that. Saving is not hereditary, it is learned. It can be learned by watching frugal parents and following their example, and it can be learned by watching your parents squander their money and knowing that lifestyle is not for you. I saved a lot of my money starting with my first job. I worked all through high school and college. I have always been a saver and at 50 am financially independent (but still working...ugh!). I value financial security more than my parents did.

Retire date sometime in 2017
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