Tuesday, January 08, 2008

So perhaps being a Millionare is a matter of being Frugal.....gee, what a shock!

This is pretty funny......an article that describes the path to wealth as one where you "save" and basically spend less than you make.

Hmmm....this is what my parents said to me every single day of their life! What a shock.

All you had to do was talk to anyone who was the product of the great depression, and I suspect you heard the same tome. My parents didn't know anything about leveraged investments......or buying on margin......or any other fancy financing. (debt) In fact, what they knew about that sort of this is that THIS is the thing thta created the depression......investors buying stock on margin and not having the ability to cover what they owed!

So this Motley Fool article seems so funny to me....because they seem to think they have discovered some new truth.

Don't get me wrong.....I'm far from the perfect saver.....sure, I try to be frugal, but I'm not sure I match my mom and dad in so far as their saving and still being generous....but I can see that this "live within your means" stuff isn't some sort of new personal economics....it is back to the future stuff for sure! (lets hope we don't go all the way back by having a depression though)

Live and learn.......

Labels: , , , ,



Millionares come and they go.

4:50 PM EST  

Post a Comment

Links to this post:

Create a Link

<< Home