Comments on: The Difference Between THEM and US When It Comes To Money. http://www.mytwodollars.com/2007/02/07/the-difference-between-them-and-us-when-it-comes-to-money/ A place to discuss money...for the rest of us. Wed, 17 Mar 2010 21:27:05 -0400 hourly 1 By: david http://www.mytwodollars.com/2007/02/07/the-difference-between-them-and-us-when-it-comes-to-money/comment-page-1/#comment-8784 david Thu, 07 Jun 2007 17:36:16 +0000 http://www.mytwodollars.com/2007/02/07/the-difference-between-them-and-us-when-it-comes-to-money/#comment-8784 Thanks Brandon, it is true that sometimes you should spend money on yourself...I guess the important part is that you are taking care of your finances as well as splurging once in a while, which is great that you can do both. Most people don't do both, they only buy the plasma TV and BMW while going further and further into debt. Thanks for the comment! Thanks Brandon, it is true that sometimes you should spend money on yourself…I guess the important part is that you are taking care of your finances as well as splurging once in a while, which is great that you can do both. Most people don’t do both, they only buy the plasma TV and BMW while going further and further into debt. Thanks for the comment!

]]> By: Brandon http://www.mytwodollars.com/2007/02/07/the-difference-between-them-and-us-when-it-comes-to-money/comment-page-1/#comment-8709 Brandon Thu, 07 Jun 2007 02:06:35 +0000 http://www.mytwodollars.com/2007/02/07/the-difference-between-them-and-us-when-it-comes-to-money/#comment-8709 Hmmm...I agree, too...to an extent. As a single guy reaching the ripe old age of 30, and who's tripled his retirement savings in 3 years and saves 26% of his income, I was on the same track. But recently got a little derailed by...tada...plasma tv. Newest BMW. I believe in balance - have spent like I made half of what I do, and socked away most of the rest (Roth, 401K, emergency fund, trading acct, etc). And was ready to drive my VW for another years and 80k miles...until my buddy, who is very intelligent, pointed out that my desire for nicer things could be fulfilled, to a reasonable extent, while I was young, single and without children (that I know of!). One need not be austere, nor must one go overboard. I could have bought an overpriced florida home and gotten raped w/ insurance increases since I moved down here and been "homesteaded" into never being able to move to a smaller house...but I maintain a modest apartment that costs very little and have maxed out all retirement spending, save cash to invest and still have the funds for the plasma and the bimmer...sure, the cash could go to savings, but at the same time, if your vice is hot cars AND you can afford it WHILST providing for your future, let's not forget that this is called FUN or VALUE. Just saying is all. ;) All in all, a great set of articles and posts that make you think "is this really necessary?" Hmmm…I agree, too…to an extent. As a single guy reaching the ripe old age of 30, and who’s tripled his retirement savings in 3 years and saves 26% of his income, I was on the same track. But recently got a little derailed by…tada…plasma tv. Newest BMW. I believe in balance – have spent like I made half of what I do, and socked away most of the rest (Roth, 401K, emergency fund, trading acct, etc). And was ready to drive my VW for another years and 80k miles…until my buddy, who is very intelligent, pointed out that my desire for nicer things could be fulfilled, to a reasonable extent, while I was young, single and without children (that I know of!).

One need not be austere, nor must one go overboard. I could have bought an overpriced florida home and gotten raped w/ insurance increases since I moved down here and been “homesteaded” into never being able to move to a smaller house…but I maintain a modest apartment that costs very little and have maxed out all retirement spending, save cash to invest and still have the funds for the plasma and the bimmer…sure, the cash could go to savings, but at the same time, if your vice is hot cars AND you can afford it WHILST providing for your future, let’s not forget that this is called FUN or VALUE.

Just saying is all. ;) All in all, a great set of articles and posts that make you think “is this really necessary?”

]]> By: david http://www.mytwodollars.com/2007/02/07/the-difference-between-them-and-us-when-it-comes-to-money/comment-page-1/#comment-1035 david Thu, 08 Feb 2007 18:34:56 +0000 http://www.mytwodollars.com/2007/02/07/the-difference-between-them-and-us-when-it-comes-to-money/#comment-1035 Thanks for the comment Enough Wealth. We do have a plan on our own to save for retirement, but nothing wrong with adding to it instead of just buying a new TV or something else like that. I understand what you are saying, but since we dont even have kids yet or an "estate" I believe that our retirement fund is the best place to put this money as of right now. Thanks for the advice! Thanks for the comment Enough Wealth. We do have a plan on our own to save for retirement, but nothing wrong with adding to it instead of just buying a new TV or something else like that.

I understand what you are saying, but since we dont even have kids yet or an “estate” I believe that our retirement fund is the best place to put this money as of right now. Thanks for the advice!

]]> By: Enough Wealth http://www.mytwodollars.com/2007/02/07/the-difference-between-them-and-us-when-it-comes-to-money/comment-page-1/#comment-1023 Enough Wealth Thu, 08 Feb 2007 01:32:41 +0000 http://www.mytwodollars.com/2007/02/07/the-difference-between-them-and-us-when-it-comes-to-money/#comment-1023 Well done. I'd give this approach 9/10 (People who use such windfalls to buy a Plasma TV only get 1/10). However, I think the perfect 10/10 score would be if you already had plans in place to fully fund your retirement, house payments and vacations yourself. In that case any extra "windfall" money such as inheritances could be invested in a separate account as part of the "estate" you'll be able to pass on to your heirs. You would add to this if you end up with more than you need in retirement, but at the very least you'd pass on all the "extra" money that you win in lotteries, inherit and so on. Then again, your relative might prefer to see you spending the money on a vacation and retirement funding, rather than it just being put away as part of your estate (although if you documented where such inheritances that form part of your estate come from, this would become a permanent part of your family history to be passed on to future generations ie. where the "family fortune" came from). Regards http://enoughwealth.com Well done. I’d give this approach 9/10 (People who use such windfalls to buy a Plasma TV only get 1/10).

However, I think the perfect 10/10 score would be if you already had plans in place to fully fund your retirement, house payments and vacations yourself. In that case any extra “windfall” money such as inheritances could be invested in a separate account as part of the “estate” you’ll be able to pass on to your heirs. You would add to this if you end up with more than you need in retirement, but at the very least you’d pass on all the “extra” money that you win in lotteries, inherit and so on.

Then again, your relative might prefer to see you spending the money on a vacation and retirement funding, rather than it just being put away as part of your estate (although if you documented where such inheritances that form part of your estate come from, this would become a permanent part of your family history to be passed on to future generations ie. where the “family fortune” came from).

Regards
http://enoughwealth.com

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