Comments on: From Riches to Rags http://www.stopbuyingcrap.com/even-more-ramblings/from-riches-to-rags/ Over Five Years of Personal Finance, Consumer Spending, Crazy Products and Boring Blog Posts. Good grief. Sat, 11 Feb 2012 21:36:21 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Blueprint for Financial Prosperity http://www.stopbuyingcrap.com/even-more-ramblings/from-riches-to-rags/comment-page-1/#comment-2995 Blueprint for Financial Prosperity Mon, 08 May 2006 04:29:46 +0000 http://www.stopbuyingcrap.com/2006/05/02/from-riches-to-rags/#comment-2995 <strong>Carnival of Personal Finance #47...</strong> The Carnival has returned after a twenty six week whirlwind tour (that’s six and a half months) of the personal finance blogosphere and has finally made it back to Blueprint. This week I have a little surprise that I think you’ll enjoy, a... Carnival of Personal Finance #47…

The Carnival has returned after a twenty six week whirlwind tour (that’s six and a half months) of the personal finance blogosphere and has finally made it back to Blueprint. This week I have a little surprise that I think you’ll enjoy, a…

]]> By: Cap http://www.stopbuyingcrap.com/even-more-ramblings/from-riches-to-rags/comment-page-1/#comment-2971 Cap Fri, 05 May 2006 15:27:51 +0000 http://www.stopbuyingcrap.com/2006/05/02/from-riches-to-rags/#comment-2971 Hey thanks for sharing guys, I really enjoyed reading them. It helps to have some extra perspective. To be honest, when my friend told me her situation, I can only understand her situation to a certain extent---after all, some experiences can only be understood if you lived through them. Hey thanks for sharing guys, I really enjoyed reading them. It helps to have some extra perspective. To be honest, when my friend told me her situation, I can only understand her situation to a certain extent—after all, some experiences can only be understood if you lived through them.

]]> By: terryfromChilliOH http://www.stopbuyingcrap.com/even-more-ramblings/from-riches-to-rags/comment-page-1/#comment-2968 terryfromChilliOH Thu, 04 May 2006 23:54:11 +0000 http://www.stopbuyingcrap.com/2006/05/02/from-riches-to-rags/#comment-2968 I wasn't born into a wealthy family, by my standards (although my husband begs to differ), but I didn't want for anything (I got a Mustang for my high school graduation gift). I fell in love with a man, who'd been raised in poverty, when he was working at a gas station. When we moved in together, he wasn't working at all. We moved into a roach motel in the worst neighborhood in my city; the rent was $30 per week, all utilities and furniture included. It wasn't really hard for me to adjust, going from having to needing, but maybe that's because I was in love. I married my gas station attendant, and he's now the CFO of an oil company. We want for nothing, and I think it would be harder to go back to the poverty of his pre-MBA days. I wasn’t born into a wealthy family, by my standards (although my husband begs to differ), but I didn’t want for anything (I got a Mustang for my high school graduation gift). I fell in love with a man, who’d been raised in poverty, when he was working at a gas station. When we moved in together, he wasn’t working at all. We moved into a roach motel in the worst neighborhood in my city; the rent was $30 per week, all utilities and furniture included. It wasn’t really hard for me to adjust, going from having to needing, but maybe that’s because I was in love. I married my gas station attendant, and he’s now the CFO of an oil company. We want for nothing, and I think it would be harder to go back to the poverty of his pre-MBA days.

]]> By: SkyeBlue http://www.stopbuyingcrap.com/even-more-ramblings/from-riches-to-rags/comment-page-1/#comment-2967 SkyeBlue Thu, 04 May 2006 21:11:19 +0000 http://www.stopbuyingcrap.com/2006/05/02/from-riches-to-rags/#comment-2967 That about those celebrities, like Mike Tyson, who make tens of millions of dollars and just blow it? Then whine that they are broke! That about those celebrities, like Mike Tyson, who make tens of millions of dollars and just blow it? Then whine that they are broke!

]]> By: Jack http://www.stopbuyingcrap.com/even-more-ramblings/from-riches-to-rags/comment-page-1/#comment-2962 Jack Thu, 04 May 2006 12:52:19 +0000 http://www.stopbuyingcrap.com/2006/05/02/from-riches-to-rags/#comment-2962 Great post. Here's my story. I definately started out poor. Got accepted to MIT, but at $23k per year (1984 back then) it wasn't going to happen. So I went to state school instead for engineering degree. When I got there, I found 18 yr olds driving around in new BMW's, etc and complaining about their 4 figure monthly allowances being too low. And what exactly had they accomplished in life so far to have this level of prosperity? This was the state college after all. I felt no envy for them, only pity. I mean, I could really enjoy stuff like a steak on the grill or a new shirt - stuff that was mundane to these other kids. A new sports car? I didn't give myself that until I was in my 30's, even though my salary was 100k. Guess what? I'm raising my children W/O the golden spoon. To do otherwise would be morally wrong imo. Their allowance comes from their savings. Their income comes from their achievements. I've lived a modest lifestyle, enjoying the smaller things in life. At our church, there was another gent who worked at my employer. My wife and I thought it interesting that everyone thought, based on outward appearances, that he was a mover/on fast track while I was an hourly wage earner. The truth was exactly opposite. His daughter got a new convertible for her 16th birthday. My son got an offer for new brakes and tires for his car when he could afford to buy one. My dad went to college (the first in family) but didn't finish. He retired at 50. He challenged me to do better. I went to college, got the degree, and retired at 38. I've challenged my children to do better..... Great post. Here’s my story. I definately started out poor. Got accepted to MIT, but at $23k per year (1984 back then) it wasn’t going to happen. So I went to state school instead for engineering degree. When I got there, I found 18 yr olds driving around in new BMW’s, etc and complaining about their 4 figure monthly allowances being too low. And what exactly had they accomplished in life so far to have this level of prosperity? This was the state college after all.

I felt no envy for them, only pity. I mean, I could really enjoy stuff like a steak on the grill or a new shirt – stuff that was mundane to these other kids. A new sports car? I didn’t give myself that until I was in my 30′s, even though my salary was 100k.

Guess what? I’m raising my children W/O the golden spoon. To do otherwise would be morally wrong imo. Their allowance comes from their savings. Their income comes from their achievements.

I’ve lived a modest lifestyle, enjoying the smaller things in life. At our church, there was another gent who worked at my employer. My wife and I thought it interesting that everyone thought, based on outward appearances, that he was a mover/on fast track while I was an hourly wage earner. The truth was exactly opposite. His daughter got a new convertible for her 16th birthday. My son got an offer for new brakes and tires for his car when he could afford to buy one.

My dad went to college (the first in family) but didn’t finish. He retired at 50. He challenged me to do better. I went to college, got the degree, and retired at 38.

I’ve challenged my children to do better…..

]]> By: Cap http://www.stopbuyingcrap.com/even-more-ramblings/from-riches-to-rags/comment-page-1/#comment-2956 Cap Thu, 04 May 2006 05:00:59 +0000 http://www.stopbuyingcrap.com/2006/05/02/from-riches-to-rags/#comment-2956 Thanks for sharing rebecca & others. I guess it is indeed a rough one, compare w/ if you were poor to begin with. I was reading usual stories about how lottery winners lose all their money via reckless spending, and some of them were actually relieved that they don't have the money anymore. One person said that it felt like it wasn't real anyway. Others say they're glad people would stop pestering them for money.. And yeah, most self-made people that have earned their way to their fortune have a better sense on how to keep their wealth, I suppose. The drastic change of lifestyle is the key I guess, whether from poor to rich or rich to poor. If it happens suddenly, I guess it can all seem too unreal.  Me, I'm not a Cheetos person, so I think when I hit the jackpot I'll be able to keep my loot. kthx Thanks for sharing rebecca & others. I guess it is indeed a rough one, compare w/ if you were poor to begin with.

I was reading usual stories about how lottery winners lose all their money via reckless spending, and some of them were actually relieved that they don’t have the money anymore. One person said that it felt like it wasn’t real anyway. Others say they’re glad people would stop pestering them for money..

And yeah, most self-made people that have earned their way to their fortune have a better sense on how to keep their wealth, I suppose.

The drastic change of lifestyle is the key I guess, whether from poor to rich or rich to poor. If it happens suddenly, I guess it can all seem too unreal.  Me, I’m not a Cheetos person, so I think when I hit the jackpot I’ll be able to keep my loot. kthx

]]> By: CollegeGrad http://www.stopbuyingcrap.com/even-more-ramblings/from-riches-to-rags/comment-page-1/#comment-2923 CollegeGrad Wed, 03 May 2006 06:44:11 +0000 http://www.stopbuyingcrap.com/2006/05/02/from-riches-to-rags/#comment-2923 Ha ha ha ha!!!! 'Blew it all on Cheetos'! You are too funny! --CollegeGrad (Great post!) Ha ha ha ha!!!! ‘Blew it all on Cheetos’! You are too funny!

–CollegeGrad

(Great post!)

]]> By: Mandy http://www.stopbuyingcrap.com/even-more-ramblings/from-riches-to-rags/comment-page-1/#comment-2922 Mandy Wed, 03 May 2006 05:05:58 +0000 http://www.stopbuyingcrap.com/2006/05/02/from-riches-to-rags/#comment-2922 When we emigrated to Australia from South Africa 10 years ago, we were lucky enough to be able to get enough money out of the country (they have very strict controls) but I know a lot of people who have left South Africa and had to adjust to drastically different financial circumstances. Back there they live in huge houses, drive expensive cars etc. and now they have to adjust because a. most of their money is still tied up over there b. the money they were able to bring out is worth much less. Many have given up and gone back to their more affluent lifestyle, forgetting the reasons they left - the crime is still there. I agree that it would be easier to go from poor to rich and back again than adjust from rich to poor! When we emigrated to Australia from South Africa 10 years ago, we were lucky enough to be able to get enough money out of the country (they have very strict controls) but I know a lot of people who have left South Africa and had to adjust to drastically different financial circumstances. Back there they live in huge houses, drive expensive cars etc. and now they have to adjust because
a. most of their money is still tied up over there
b. the money they were able to bring out is worth much less.

Many have given up and gone back to their more affluent lifestyle, forgetting the reasons they left – the crime is still there.

I agree that it would be easier to go from poor to rich and back again than adjust from rich to poor!

]]> By: Dennis http://www.stopbuyingcrap.com/even-more-ramblings/from-riches-to-rags/comment-page-1/#comment-2920 Dennis Wed, 03 May 2006 03:01:36 +0000 http://www.stopbuyingcrap.com/2006/05/02/from-riches-to-rags/#comment-2920 I wonder how MTV Cribs and My Sweet 16 will impact our generation. I think that poor people who get rich do so through an entrepreneurial spirit. Without the desire to MAKE money, and understanding the work it takes to make that money, how can you appreciate keeping it? Good Post! I wonder how MTV Cribs and My Sweet 16 will impact our generation.

I think that poor people who get rich do so through an entrepreneurial spirit. Without the desire to MAKE money, and understanding the work it takes to make that money, how can you appreciate keeping it? Good Post!

]]> By: laurie http://www.stopbuyingcrap.com/even-more-ramblings/from-riches-to-rags/comment-page-1/#comment-2908 laurie Tue, 02 May 2006 18:38:18 +0000 http://www.stopbuyingcrap.com/2006/05/02/from-riches-to-rags/#comment-2908 Ooooh... interesting post, Cap. When you're so poor you're just known as po' (like my family was when I grew up) you have no idea what you are supposedly missing out on. You get happy over the smallest things. And every new level of success feels hard-earned and worthwhile. I imagine going down the food chain the other way, from rich to poor, and it would suck to have all these un-met expectations. Whereas po' folks like me who make good just feel happy to have what we have. Ooooh… interesting post, Cap.

When you’re so poor you’re just known as po’ (like my family was when I grew up) you have no idea what you are supposedly missing out on. You get happy over the smallest things. And every new level of success feels hard-earned and worthwhile.

I imagine going down the food chain the other way, from rich to poor, and it would suck to have all these un-met expectations. Whereas po’ folks like me who make good just feel happy to have what we have.

]]> By: Rebecca http://www.stopbuyingcrap.com/even-more-ramblings/from-riches-to-rags/comment-page-1/#comment-2905 Rebecca Tue, 02 May 2006 18:16:34 +0000 http://www.stopbuyingcrap.com/2006/05/02/from-riches-to-rags/#comment-2905 I agree with your friend. I grew up in a wealthy family also, but married for love and don't by any means have as much money as I used to. It is an extremely difficult transition. It's been almost 2 years and I'm just starting to reconcile the fact that I don't have that money to spend. I agree with your friend. I grew up in a wealthy family also, but married for love and don’t by any means have as much money as I used to. It is an extremely difficult transition. It’s been almost 2 years and I’m just starting to reconcile the fact that I don’t have that money to spend.

]]> By: SkyeBlue http://www.stopbuyingcrap.com/even-more-ramblings/from-riches-to-rags/comment-page-1/#comment-2903 SkyeBlue Tue, 02 May 2006 17:46:00 +0000 http://www.stopbuyingcrap.com/2006/05/02/from-riches-to-rags/#comment-2903 Interesting topic. I guess if you grow up poor, you really can't miss what you don't have, or never really knew. And it seems like if you were self-made rich that you would appreciate it much more then if it was just handed to you. Interesting topic. I guess if you grow up poor, you really can’t miss what you don’t have, or never really knew. And it seems like if you were self-made rich that you would appreciate it much more then if it was just handed to you.

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