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04-26-2016, 08:58 PM
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#181
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 2,360
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Enough with the excuses
Quote:
Originally Posted by anethum
Gabler was interviewed last Sunday on National Public Radio's Weekend Edition about his Atlantic article.... During the last 45 seconds of the radio interview, he makes the following assertion which was not part of his article:
"If you look at the English or the French or the Germans, they don't believe that they're totally responsible for not having achieved financial success. Americans do. And we've got to stop people telling us that it's all in our hands as to whether we're going to be successful, because frankly it is not."
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I agree with him, up to a point: while hard work, initiative, discipline, LBYM, etc. all play important parts in achieving FI, good luck or the lack thereof is also a factor. But so what? Misfortune played no significant role in his sorry tale.
As others have already noted, he was able-bodied/healthy, intelligent, and well-educated. He repeatedly made poor decisions, and his fate was indeed in his own hands.
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
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04-26-2016, 09:10 PM
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#182
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Location: Moscow
Posts: 1,572
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Quote:
Originally Posted by nash031
Pretty much this.
While he talked about financial trouble, I think he purposefully misled the audience by hiding the extent to which these troubles were entirely self-inflicted (i.e. opting to avoid tax payments in order to make suspect investments on book deals; home value of house in the Hamptons; etc.) The guy wrote a "woe is me because of the system" story, when the reality is it should've been a "woe is me because I'm a financial disaster".
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Seeing the info dug up by another poster, the author is being a tad disingenuous. "I'm just like the almost 50% of Americans that can't get ahead. Here's MY story."
That angle is, apparently, bullshit.
I suspect that most of the almost 50% don't have a house in the Hamptons, or the income to afford private schools, etc.
Fine topic for an article, but the author shouldn't pass himself off as something he isn't.
__________________
You can't enlighten the unconscious.
But you can hit'em upside the head a few times to make sure they are really out...
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04-26-2016, 09:17 PM
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#183
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2016
Posts: 8,968
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We don't know the details of the "book deal"
Me thinks it was way more than a missed deadline. The publisher didn't like the way the story was going? The agent that made the deal was fired? Management changed? Somebody got pissed off? Dunno.
I do know that if the publisher thought it was going to make a lotta dough a missed deadline wouldn't have been the "end of the deal" Whose fault it was I dunno.
But if you look at the numbers and the book deal went though and he got the 189 grand instead of paying it, he would only be 13 grand in the hole.
It's the entertainment biz and stuff like this happens all the time.
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04-26-2016, 09:55 PM
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#184
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Recycles dryer sheets
Join Date: Jun 2014
Posts: 440
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My wife and I argue about the meta issue.
We both agree that people who value time more than stuff, exercise self control, delayed gratification etc are more likely to avoid financial problems and we're surrounded by friends and family who only save when there appears to be nothing left to buy AND don't seem to believe they can do anything about it.
The question for me is why I didn't end up this way? There's no obvious answer. I was dumb for a while and then something clicked and I stopped caring about buying **** as much.
But was I "the kind of person who clicks" whereas other proportion aren't? Or was it through my own hard work and effort? And if it was my hard work and effort why do some people have that and other don't .
My wife is much more on the "they don't have the will power... they need to hit bottom" side of the fence.
Mostly we don't argue about it and instead enjoy spending time with the kids greatful for what we have and reminding ourselves to not screw it up by buying dumb stuff .
Sent from my HTC One_M8 using Early Retirement Forum mobile app
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04-26-2016, 10:21 PM
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#185
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2005
Location: Chicago
Posts: 13,186
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Quote:
Originally Posted by Keim
Fine topic for an article, but the author shouldn't pass himself off as something he isn't.
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Yeah, passing yourself off for something you're not shouldn't be done in a magazine. That's meant to be done on Internet forums, blogs, etc.
Quote:
the author is being a tad disingenuous.
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Is the author being a tad disingenuous or is he part of the entertainment industry?
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
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04-26-2016, 10:34 PM
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#186
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Location: Moscow
Posts: 1,572
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Quote:
Originally Posted by youbet
Yeah, passing yourself off for something you're not shouldn't be done in a magazine. That's meant to be done on Internet forums, blogs, etc.
Is the author being a tad disingenuous or is he part of the entertainment industry?
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I don't even use forums to pass myself off. Note the username!
__________________
You can't enlighten the unconscious.
But you can hit'em upside the head a few times to make sure they are really out...
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04-26-2016, 11:25 PM
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#187
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2005
Location: Chicago
Posts: 13,186
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Quote:
Originally Posted by Keim
I don't even use forums to pass myself off. Note the username!
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Sorry, I'm not making the connection.
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
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04-26-2016, 11:36 PM
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#188
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 17,094
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Quote:
Originally Posted by Walt34
...It was a bit eye-opening a few years ago at my last job when there was a payroll glitch and payroll deposits were held up from Friday to the following Monday. Not a big deal for most folks here (or at the job site) but I was surprised at the number who were a bit panicky about it, .....
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Same thing happened at a company I worked at. The owner explained it to each person in private in his office.
He was totally surprised when I said it was no problem.
Turned out some others were really freaking out.
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04-27-2016, 03:58 AM
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#189
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Confused about dryer sheets
Join Date: Apr 2016
Posts: 1
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Quote:
Originally Posted by FlyBoy5
Oh...one last thing. The property in East Hampton with the $650K mortgage is showing a Zillow value of $2.65 MILLION DOLLARS. What am I missing here?!
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Zillow says $2.65 million, but Realtor.com estimates the market value to be $1,057,891.
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04-27-2016, 04:51 AM
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#190
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Recycles dryer sheets
Join Date: Jul 2013
Location: Cocoa Beach
Posts: 414
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Quote:
Originally Posted by papadad111
And. The problem will come home to roost. About the time the first generation of pensionless people hit retirement age a decade or so from now. We will all pay for it one way or the other.
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Quote:
Originally Posted by 38Chevy454
Call me a self-righteous prick or whatever, but I have no sympathy for self-inflicted problems. Yes it takes some financial ducation and the ability to have a career that can support your given lifestyle. However, making the poor choices is not my problem.
The sad part is all these self-inflicted problem people will vote and select the person that gives them the most gov't handout. That leads to my wallet being tapped by gov't because I am responsible and make good choices.
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+1
Couldn't agree more!
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04-27-2016, 04:54 AM
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#191
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 2,360
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Quote:
Originally Posted by Sunset
Same thing happened at a company I worked at. The owner explained it to each person in private in his office.
He was totally surprised when I said it was no problem.
Turned out some others were really freaking out.
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I too had that experience.
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
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04-27-2016, 05:34 AM
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#192
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2009
Posts: 6,695
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Quote:
Originally Posted by Walt34
It was a bit eye-opening a few years ago at my last job when there was a payroll glitch and payroll deposits were held up from Friday to the following Monday. Not a big deal for most folks here (or at the job site) but I was surprised at the number who were a bit panicky about it, and at least two had to take out payday loans. To cover one weekend!
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I had a similar experience back in 2001 when I first switched from working FT to PT. I was working on a straight salary as a FT employee but became an hourly paid employee when I switched to PT. When the first pay period arrived as a PT employee, I didn't receive any paycheck. When I asked my boss why, she told me it was because the payroll department needs to know how many hours I worked before processing my paycheck so I would not be paid until the next pay period, 2 weeks later (i.e. on a lag basis). I would receive an extra paycheck after I leave the company to make up for this.
This meant I would go 4 weeks between paychecks initially. It was not a big deal at all, which kinda surprised my boss. I didn't tell her at the time that I was living on one biweekly paycheck (if not less) so I was banking the other one. Even with my PT paychecks being about 40% lower as a PT employee, I was still nearly banking one biweekly paycheck.
The fact that this occurred in the middle of a month, when my expenses were extremely low, was helpful but not crucial. And when I left the company following my ER 7 years later, it was nice getting an extra paycheck then from the lag.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
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04-27-2016, 07:23 AM
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#193
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2013
Location: ATL --> Flyover Country
Posts: 6,649
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Quote:
Originally Posted by JFoster
Zillow says $2.65 million, but Realtor.com estimates the market value to be $1,057,891.
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Very true. I am always VERY hesitant to even mention Zillow as it can really be out to lunch. My DW is in the R/E business and me just mentioning Zillow will get me some dirty looks!
__________________
FIRE'd in 2014 @ 40 Years Old
Professional Retiree
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04-27-2016, 11:07 AM
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#194
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Thinks s/he gets paid by the post
Join Date: Oct 2006
Posts: 4,629
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In my county, the assessor's data base is online. It's easy to get assessed values and selling prices on recent sales.
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04-27-2016, 11:20 AM
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#195
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Recycles dryer sheets
Join Date: Mar 2009
Location: Newcastle, WA
Posts: 208
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In the same way that fish don't know that they're wet, most people are inundated in the expectation of consumption to stay abreast of the Joneses.
Indeed, if everyone behaved like those on this forum indicate they have been (living well below their means; a nation of savers rather than credit-card abusers), our economy over the last many years would have been as anemic as Japan's ... and the investment returns powering your retirement ... wouldn't be.
We owe the spenders. Heck, if my dad hadn't almost physically threatened me to save 15% (now 20%) into 401k's and such when I got my first "real" job back in '85, year-in, year-out ... I wouldn't even be on this Forum.
I'd have a Porsche, though!
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04-27-2016, 11:43 AM
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#196
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2011
Posts: 8,418
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Quote:
Originally Posted by Lawrence of Suburbia
Indeed, if everyone behaved like those on this forum indicate they have been (living well below their means; a nation of savers rather than credit-card abusers), our economy over the last many years would have been as anemic as Japan's ... and the investment returns powering your retirement ... wouldn't be.
We owe the spenders.
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From now on, every time I read or hear of someone filing bankruptcy I'll say "thank you" instead of "loser!". Slap to forehead, I had it all wrong!
Don't get me wrong, I think you've got a good point.
__________________
Living well is the best revenge!
Retired @ 52 in 2005
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04-27-2016, 12:13 PM
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#197
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Recycles dryer sheets
Join Date: Mar 2009
Location: Newcastle, WA
Posts: 208
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I still want a Porsche
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__________________
Don't just do something; stand there!
- Jack Bogle
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04-27-2016, 12:16 PM
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#198
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2011
Posts: 8,418
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Quote:
Originally Posted by Lawrence of Suburbia
I still want a Porsche
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Me too.
__________________
Living well is the best revenge!
Retired @ 52 in 2005
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04-27-2016, 12:20 PM
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#199
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 7,677
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Is this guy representative of anything?
Are we surprised that the news story is sensational?
What amazes me is that the guy wants his story to be told!
__________________
For the fun of it...Keith
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04-27-2016, 12:22 PM
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#200
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Location: Moscow
Posts: 1,572
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Quote:
Originally Posted by kcowan
Is this guy representative of anything?
Are we surprised that the news story is sensational?
What amazes me is that the guy wants his story to be told!
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He doesn't WANT it told. He is SELLING it for money. I could make a comment about very old professions.
__________________
You can't enlighten the unconscious.
But you can hit'em upside the head a few times to make sure they are really out...
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