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August 17, 2005

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Cop Car

Interesting reading, Bogie. I have a bone to pick with the 30/31-year-old 1/2-millionaires, though. They said, "Just remember, it's not what you make, it's what you spend that determines your net worth." That is baloney. Marilyn vos Savant [web site at: http://www.marilynvossavant.com/] once wrote on the subject, and I agree with her. She said that if one doesn't first make or get the money, one can neither spend nor save it--there is no choice at all. Of course, she was urging kids to stay in school to qualify for high-paying jobs, but her observation is nonetheless true.

[At one time it was true (and may still be true) that most of the really rich self-made people were not highly educated; but, on average, the higher one's formal education, the greater the life-time earnings--at least, for men.]

bogie

I agree with you an Marilyn - if your net worth is determined only by what you spend, I was certainly rich and didn't know it when I made minimum wage (that would be why I was working 2 jobs I guess).

I think that formal education thing backfired for me. I know for a fact that if I had stayed as a grower, I would be making more money now (heck, I could make more money as an inspector at the place I currently work at). Instead, I spent a lot of our money and CompanyS's money on an education, got a desk job and lost out on wages (heck, I'd settle for a raise at this point - I always seem to work for companies that have a wage freeze in affect, except for people that get "promoted").

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