Quote:
Originally Posted by GregWeld
You can not SPEND yourself to wealth.
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I think that's what a lot of people feel. If they have a house, new cars, new TVs and new clothes, they feel wealthy. Yet they are poor! And I agree with you talking about retirement as well. If you spend the first half of your life doing the right things, then all the wealth and retirement will come.
One of the stories I always talk about is one of my Dad's best friends. Every time I talk to him, he talks about the importance of retirement. Well now he's 58ish and retired from the City Water Department. Makes more on retirement than when he was working. But what I don't like is that he has zero equity in his house, just bought a 200K diesel pusher motorhome along with a new Toyota truck to tow behind it.
So yes, he has retirement and is bringing in a full paycheck...but he's swimming in debt. I just think that's crazy. What if the retirement fund goes bankrupt in 10 years? He will have to go back to work. I would be very uneasy if it was me.