IntenseDebate - retirebyforty

13 years ago @ Watson Inc - 4000 Millionaires Don�... · 0 replies · +4 points

really? I have to read this!

13 years ago @ Watson Inc - Why You NEED Blow Money · 1 reply · +4 points

Everyone has to find the right lifestyle that can keep them happy. It's like dieting. You don't want to do the yo yo diets. You need to create a sustainable plan so you can manage your weight. Personal finance is similar. You don't want to live such a spartan lifestyle that you feel unfulfilled. Blow money is the pressure valve. We get a bit of cash every week to spend however we want to. I can save that cash up to buy bigger purchases or just spend it on lunch. It help us keep to our frugal lifestyle in the long run.

13 years ago @ Watson Inc - When Lattes Are NOT Yo... · 1 reply · +6 points

People has to start tacking the big problems first. If you buy too much house and car, cutting out the latte isn't going to help much. If you already have low housing and transportation expense, then maybe it's time to look at the latte. It's all about coming up with a budget that is sustainable in the long run. Increasing income is necessary too.

13 years ago @ Watson Inc - Why Do We Worry About ... · 1 reply · +4 points

I don't spend a lot of time worrying about money anymore. We make enough money to pay our bills and we have saving to last us through the rough patches. The confidence comes from keeping our expense down and working hard in the past to save up.
I guess it is like sports or anything else. Practice gives you confidence to face the game without worrying too much. Just do it.

13 years ago @ Watson Inc - Getting Haters Out of ... · 1 reply · +5 points

The real problem with luxury cars are the maintenance cost. We drove a used BMW Z3 for over 10 years and we loved it, but I hated going to have work done on the vehicle. The purchase cost is quite a bit higher than a regular car now as well. We probably won't purchase another luxury vehicle in the future.
I agree about taking others' advice. You should listen and then make up your own mind. People mean well, but they don't know your whole situation and may not have the same value as you do.

13 years ago @ Watson Inc - Do Americans Know What... · 1 reply · +1 points

I agree with the other comments. Poor people in other countries have so much more difficulties than poor people in the US. You are probably right that most poor people here would be seen as middle class or rich on 3rd world countries.
I thought poor meant making less money than the poverty line. Thanks for correcting that misconception.

13 years ago @ Your Finances Simplified - A Letter To My Unborn ... · 1 reply · +1 points

Congratulation! We waited until we were in our mid 30s to have a baby. I think it's good to be more mature so you can deal with the adversity. A baby is a lot of work and I think many young parents (I mean early 20s) aren't really ready.
Having a baby will change your world. Congrat!
My recent post Peer to Peer Lending Investment Midyear Update

13 years ago @ Watson Inc - What Makes You So Spec... · 1 reply · +1 points

I see your point too. I was thinking it's easier these days to move up by changing job and career. 60 years ago opportunities are more limited IMO. You're thinking that being best at what you do will improve your career. I think that's more true today too. In the old days, someone might be stuck in a mediocre job for life even if he/she is the best at what they do. What do you think?

13 years ago @ Watson Inc - What Makes You So Spec... · 3 replies · +1 points

I just think that the street sweeper can get a job driving the garbage truck or something like that. It's probably easier to change career these days.

13 years ago @ Watson Inc - What Makes You So Spec... · 5 replies · +1 points

I think specialization is a good thing, but there are some negatives too. I have a specialty at my old job (DRAM) and it was good for many years. I'm one of the experts, but when the specialty changed location, I had to learn a different area and it was difficult. But I agree that being an expert at one thing is much better than being a jack of all trades.
I disagree with the street sweeper speech. Time has changed. You don't need to be the best street sweeper, get a better job instead.

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