I have a lot of similar age/ similar income friends that have a lot more than I

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Jun 14, 2021
9:13:25am

LeonMarek All-American

I have a lot of similar age/ similar income friends that have a lot more than I

do. As we've gotten older, I am dumbfounded at everything they've been able to do in comparison to what I've done.

I eventually learned to truth about how much debt they had.

My only debt is my house. The thought of paying interest on something thats not a house or maybe a car is dreadful. You're literally paying for impatience when it comes to interest.

I can pay 5k for this and obtain it in a year, or I can obtain it now for 5.5k.

Impatience fee.

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LeonMarek

Bio page: LeonMarek
Joined: Aug 11, 2014
Last login: Apr 25, 2024
Total posts: 8,348 (367 FO)

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Messages

Author

Time

I'm not sure which extreme of the Saving vs. Spending spectrum I feel more sad

macdizzle

6/14/21 8:49am

Striking a balance is tough it would seem. At least you are a freaking wealthy CBer and make oodles of cash

TNT

6/14/21 8:51am

lol, "figure out retirement."

Mayor of Cougartown

6/14/21 8:53am

This sounds like a divorce waiting to happen

bruincoug

6/14/21 9:07am

or working at Home Depot in your 70's. Or some crummy retail place.

Mayor of Cougartown

6/14/21 9:11am

Guys like that often trade in for the younger model — if it feels good do it

bruincoug

6/14/21 9:15am

Hopefully your in-laws can get that figured out. I think they did the right

Regal Ute

6/14/21 8:54am

my life experience has shown me that people like this rarely leave it to their

Mayor of Cougartown

6/14/21 8:56am

Where does all the money go?

TNT

6/14/21 8:56am

they'll give it to various charities. Don't want to "spoil" the kids or whatever

Mayor of Cougartown

6/14/21 9:00am

Having cash thrown at a person isnt a posutive thing

Backcountry

6/14/21 9:06am

Partly agree. Most people get inheritances when they are in their 40s to 60s. It can still be a big negative

Clark Addison

6/14/21 9:08am

exactly. A person getting money in their 40's and 50's can help with college

Mayor of Cougartown

6/14/21 9:10am

Thats a really good point

Backcountry

6/14/21 9:11am

And they shouldnt

Backcountry

6/14/21 9:00am

I feel the same way. There is stupid on both ends of the spectrum. Honestly,

Superman21

6/14/21 8:57am

Money is the biggest challenge in my marriage. Happily married but I am

Iman23

6/14/21 8:58am

You and I are similarly situated

bruincoug

6/14/21 9:08am

Definitely easier to make more money. It's rare to be able to cut costs when

marticorp

6/14/21 10:49am

Well looks like you and your wife will be in for a big inheritance if they continue down that path. But of course you'd

6/14/21 9:00am

I think the in-laws see things correctly. I love the conservative approach.

Backcountry

6/14/21 9:06am

Except for the stealing part. I'd rather pay the $20 that I owe and feel

Elwood Blues

6/14/21 12:23pm

It's crazy to see how many people play the FOMO game

UVCoug

6/14/21 9:07am

Money is meant to be spent. You have have to decide what you want to spend it on

Powerbait DPM

6/14/21 9:07am

I’m kind of the same. I have been saving to pay for college for my kids but there will be no “inheritance “ to speak of

Slim

6/14/21 9:11am

This is a good middle ground, though I don’t buy toys etc I spend money on

kotacoug

6/14/21 10:02am

I hope to be able to help out my kids when starting a young family.

Powerbait DPM

6/14/21 1:28pm

Best thing to help them out is to give them the skill set to do it on their own.

kotacoug

6/14/21 3:12pm

I agree, but no harm in helping out if done correctly. I’m not saying buy a car

Powerbait DPM

6/14/21 6:03pm

The key is to balance those two perspectives as well as you can. My wife and I

6/14/21 9:10am

Homes are different. Cant lump them into the same category as cars, tpys, trips,

Backcountry

6/14/21 9:13am

RE: The key is to balance those two perspectives as well as you can. My wife and

chivo

6/14/21 11:29pm

Where I come out on this is:

Doctor Rosenrosen

6/14/21 9:12am

Mine was similar with different criteria. As we moved around the country

Nat Gas Man

6/14/21 9:26am

I have a lot of similar age/ similar income friends that have a lot more than I

LeonMarek

6/14/21 9:13am

Just curious - are these friends LDS? I'm fascinated and a little baffled

kos

6/14/21 9:35am

Moreso outside the church, but I've seen plenty within as well.

LeonMarek

6/14/21 9:41am

“Send it back and get a refund (this is planned)” do they not see this as stealing? How do they possibly defend this

vegasnative

6/14/21 9:31am

We won't go to dinner with them anymore. That's how we've addressed it.

macdizzle

6/14/21 9:32am

You are a better person than me. I would have difficulty not calling them out on it. I just really hate stealing. You

vegasnative

6/14/21 9:48am

Are your in-laws leaving their money to their kids? If so I’d be fine with how

Penske Material

6/14/21 9:39am

Its astonishing how many of those spenders there are and how many are broke.

rad dawg

6/14/21 9:43am

Your friend's story is familiar.

Don Carlton

6/14/21 10:07am

I’ve heard it said that the 1%ers don’t buy toys they buy assets, middle class

Nat Gas Man

6/14/21 10:07am

You don’t get wealthy by consuming stuff

hansel

6/14/21 11:47am

That last paragraph sounds 100% MISERABLE

kotacoug

6/14/21 9:58am

Enjoy your inheritance 🙂

6/14/21 10:37am

Live like no one else, so you can live and GIVE like no one else

6/14/21 10:41am

there is a difference between frugal and cheap, and your in-laws are on the

lukeskywalker

6/14/21 10:38am

I know a lot of people who

lukeskywalker

6/14/21 10:52am

You've found both extremes. I remember a random home teaching lesson 2 decades

Stev_ie

6/14/21 11:37am

My initial thought was that one extreme would lead to more peace, but not the

TailgateU

6/14/21 12:25pm

I'm guessing you're friends with the toys aren't actually broke.

Whiskey

6/14/21 12:33pm

I know which side of that equation I want to be friends with. For all our admira

Von Cougarschnauzer

6/14/21 1:18pm

Hate going on vacation with big spenders. Can't keep up with them. Feels like

Mitty

6/14/21 11:10pm

The problem with the you only live once idea is that you actually live forever

Stev_ie

6/14/21 1:21pm

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