Why the "Rich" Live Paycheck to Paycheck

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Thursday, February 20. 2014

Why the "Rich" Live Paycheck to Paycheck

Financial security is rarely obtained through routinely letting out-go be larger than in-come. Necessary exceptions, of course such as health and education. Wealth is suffering from a case of mistaken identity.

Here at Maggie's, we are convinced that a degree of financial security is a more meaningful goal than retirement. At the same time, we seem to feel that a miserly life is a sterile one and that life without skiing and boating is a wasted one. There's a balance somewhere. Even if you have some bucks in the bank, picking and choosing expenditures carefully on their life/family enhancement makes sense. In those cases, we like spending a lot to make it great and memorable. Penny-wise and adventure foolish.

I believe in creating great memories to enjoy when I'm over the hill.

Posted by The News Junkie in Our Essays, The Culture, "Culture," Pop Culture and Recreation at 11:25 | Comments (4) | Trackbacks (0)

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I have fantasies about winning the lottery every now again. My fantasies don't involve how I'd spend it all, but how thrifty I would still be in order to make that money grow. How wonderful it would be to have no financial worries myself in order to give as much as I could to charities I believe in.

Too bad many of the wealthy and semi-wealthy are more interested in buying brand new luxury vehicles (I haven't bought a new car since 2000), houses with pricey granite countertops and massive soapstone stoves they'll never use, and a crazy amount of electronics they replace every year.

If these people invested wisely and lived below their means, they could retire early or donate to worthy causes. So sad to see so much money wasted on junk.

#1 MissT on 2014-02-20 12:11 (Reply)

Err on the miserly side.

#2 BillH on 2014-02-20 12:43 (Reply)

"the rich" didn't get to be "rich" by overspending, running up 10+ maxed out credit cards, etc.etc..
They became "rich" by being judicious in the way they spend their money (inherited wealth excluded, but most people who inherit it only to piss it away don't stay "rich" for long).

Of course "the 99%" want to make it appear as if "the rich" are gluttonous monsters eating the wealth of the nation over the backs of the proletariat and still have billions in savings that are regenerated rapidly enough that you can steal whatever you like for as long as you like and the eternal well never runs dry.

#3 J.T. Wenting on 2014-02-20 13:23 (Reply)

Rich people spending beyond their means? Harrumph! I cannot even pretend to care. Unless one of them wants to spend money on me. Call me, for the right amount, I might do some 'role playing'. LMAO

#4 W. C. Taqiyya on 2014-02-20 13:38 (Reply)

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Thursday, February 20. 2014

Why the "Rich" Live Paycheck to Paycheck