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Old 09-12-2016, 08:17 PM   #41
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For those of you who know Nords, it IS NOT him. I checked his Bio, while Nords was a LT at the time, he wasn't at NFAS. The story would be better if it was him, because I met Nords on a MAC flight a couple of years after reading his book. Then again, I could call this a sea story, then it would be okay to stretch the truth. I hope this is inspirational for those who try to plant seeds and wonder if they grow.
Ha! Great story. Sorry we can't give me the credit.

If I'd ended up at NFAS in any capacity, I might have lost the will to live... too much pressure on the students and too many resultant personnel problems.
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Old 09-12-2016, 08:55 PM   #42
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These stories are great. In 1998 I started a dotcom company. My mentor told me the stock market was in a bubble (first time I heard that term In that way) and that I should sell shares in my company at the first opportunity. That opportunity arrived in Feb. 2000, a month before dotcom Armageddon struck. I'll never forget that advice which essentially taught me to think like a contrarian.


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Old 09-12-2016, 09:51 PM   #43
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My thrifty hard-working family-oriented parents were my example.

We lived modestly but comfortably.

My dad was the sole breadwinner. But every year my dad took NO-pay time off to take us on a learning adventure vacation. No staying in fancy hotels... we camped out... in the desert, in the mountains, in the forests... vacations were awesome.

My dad retired at age 62... with a paid off home, paid-off small farm in another state and plenty of money in the bank.

With God's help, I have done well by following my parent's example.

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Old 09-13-2016, 06:00 AM   #44
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When I was 31, I'd just received a huge promotion. My boss pulled me aside and said: congratulations but they won't love you forever. Do one thing for yourself - start a f$$k you fund and then you'll always be in control.
What a great boss!

Supervisors like him, who actually care about their employees' wellbeing, are all too rare.
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Old 09-13-2016, 06:13 AM   #45
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Not that I don't have anyone to thank, but I'm pretty sure I'd have waited for the second marshmallow.
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Old 09-13-2016, 04:50 PM   #46
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I had no particular financial hero, but remember reading a newspaper article when I was about 15 or 16. The story was about paying a mortgage and gave an example of a 30-year mortgage and the first payment was $400 with $380 of it going towards interest. The line "congratulations, you now own a door knob" stuck with me to this day.

From that moment, I've always considered debt interest to be avoided if possible and it helped shape my frugal lifestyle...well, that and earning a low income
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Old 09-13-2016, 05:32 PM   #47
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No heroes or mentors for me either. It has been self motivated and self taught. As a kid I would save my Halloween and Easter candy, eating it slowly to make it last longer. I put most of my allowance as a kid in a savings account, and after I started working a career job, I saved and invested from every paycheck.

Same here, lol. Kept that last chocolate piece forever! I remember my sister saying to me as a teenager that I should "Stop saving money and start spending it, why have it otherwise?"
Lost my saving ways in my 20's and but cranked it up in about 18 years ago when I read the Canadian financial book 'The Wealthy Barber'. That book started me on my FIRE journey.
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Old 09-14-2016, 05:38 PM   #48
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Aesop: The Ant and the Grasshopper

Read the fable when I was very young and never forgot it.
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Old 09-14-2016, 09:10 PM   #49
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My parents were definitely my role models. All during their lives they lived well below their means. While most of my friends moved to bigger houses in the suburbs, they kept our small city apt. But they saved what they didn't spend on a house and were able to help my siblings and me go to the schools we wanted to attend. I learned early on that life is full of trade offs and you have to decide what things really matter most to you.
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Old 09-14-2016, 09:26 PM   #50
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Aesop: The Ant and the Grasshopper

Read the fable when I was very young and never forgot it.

When I was a child, I had a puzzle board of that fable.
It had a big lazy grasshopper laying back playing a fiddle
while hard-working ants were busy storing food for winter.

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Old 09-14-2016, 09:41 PM   #51
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When I was in elementary school, our teacher took us on a field trip to the local bank and we opened a savings account. Then about once a month, we could give money to the teacher and she would deposit it into our accounts. I remember having $89 in that account when I graduated high school.

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Old 09-14-2016, 10:12 PM   #52
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For me it was the anti-heroes that made the biggest impact.

I started my legal career a couple of years after the 1987 sharemarket crash which precipitated the worst economic conditions my home country had seen in decades. As a young lawyer, I was put to work on corporate insolvencies and mortgagee sales - seeing first hand people loosing their businesses, their investments and their homes was a lesson I will never forget. More than two decades later, I can still recall some of the names and faces of those who lost everything because they were unable to service their debt. I sometimes wonder whether any of them managed to pick themselves up again.

While I have often used leverage when buying real estate (and am comfortable still carrying mortgage debt into retirement), I have always given myself a big margin of safety. I could have been richer and/or retired a few years earlier if I had been a more aggressive investor, but I have never lost sleep because of the size of my debts.
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Old 09-14-2016, 10:36 PM   #53
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Unknown financial hero

Bruce Williams, used to listen to him all the time when I was a teenager.
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Old 09-15-2016, 01:10 PM   #54
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Growing up I was always good with money. Growing up poor will do that. I lost my way in college. Had grandeur ideas of a large income when I graduated and justified my spending.
Got that straightened out. Got a job, home, family and was steady sailing. 401k, some savings, roth, etc.

Got a new boss that I can't stand, but really liked my job. Didn't see eye to eye with him, had a rough year at work and he wrote me up to HR and "put me on watch".

Told myself I wasn't going to let this a$$hole dictate my finances and control what happens to my family. From the moment I signed that HR paper, I paid off every cent of debt I had. Only carry a small, cheap, mortgage now. No other debt. Upped my 401k, and my Roth. Increased my LBYM lifestyle and created a rainy day FU account with his name on it. All within a couple of years, changed my entire outlook and possibilities. I have much more freedom and choice now. I continue to increase my savings and investments on a regular basis. I'm much happier now being in control.

One day, about a year ago, I told him of my FU account. And that I could walk away from Corporate America and go to work at a golf course and leave my investments on autopilot and be fine. Every since that day he has treated me with respect and has been much better. It's seems like he knows almost all of the people that report to him live paycheck to paycheck and need the job, so he can treat them however he pleases.

So unlike others, I didn't have much of a mentor, rather had an irritant.
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Old 09-16-2016, 02:40 PM   #55
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I don't like being the last person to post in a thread. Feel like a thread killer, lol.

This is a great topic to read about, please post more.
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Old 09-16-2016, 02:51 PM   #56
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I don't like being the last person to post in a thread. Feel like a thread killer, lol.

This is a great topic to read about, please post more.
Nah, not a thread killer--actually a pretty good story of another way to get motivated!

For me, no unknown financial hero; was able to go to college, met DW, saw that her people lived/thought differently than my people.... Then after law school devouring the local library's finance section and realizing what could (and eventually did) happen when a couple has good income and regularly saves/invests.
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Old 09-16-2016, 05:54 PM   #57
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In the early 80s my megacorp came out with a TDSP (Tax Deferred Saving Plan). I later learned that it was a 401k. We were presented this opportunity to save as an additional supplement to the traditional pension.

After the meeting, I had the good fortune to chat with an older employee. He said something like, "Well they are offering this plan for a reason. And the reason is that they want to exit the pension business."

Fast forward to May 1999. This same megacorp announced the end of traditional pensions. There was some grandfathering. The grandfathering was tiered.

I had the opportunity to be grandfathered into the old plan, but because of that fortunate conversation in the early 80s it was not necessary.

I remember this wise man clearly and had tried to provide equal insight to the youngsters behind me. Fortunately for me, he was a better teacher than I was.

Full disclosure. Like the OP, I heard the advice but it took me a while to fully comprehend its meaning.
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Old 09-16-2016, 06:11 PM   #58
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I might be that financial hero. At 2 different employers, I convinced 2 different employees to start contributing to 401K. Each was not a high wage earner. In both cases, a time came later that they came into my office to thank me. Stories were virtually identical: they never had any savings, and were thrilled to see they had finally accumulated - and didn't miss - some savings.
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Old 09-24-2016, 07:41 PM   #59
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My grandfather used to tell me that if I took care of the dimes the dollars would take care of themselves. When I got my first paper route he made me an offer. Every Christmas I would show him my bank book. He would give me a bonus of 25 percent for every dollar that I had saved during the year.

When I got my first sales position in IT there were lots of high rollers in the commission sales team. My bosses boss, our VP, advised me to ignore their spending habits with the advice that it is not about how much you make but rather how much you keep.

I heeded both of those counsels.
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