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September 22, 2010

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FMF: One of my favorite series of radio commercial's right now is from Miller Lite who say this about the lottery (paraphrasing):

"Ever heard of losing the lottery? Yes, and it's called playing the lottery."

I about died laughing the first time I heard it!

Are we trying to die wealthy or die broke?

"Are we trying to die wealthy or die broke?"

Having lived through broke, I vastly prefer wealthy. And dying wealthy is preferable, I'd rather run out of life before I run out of money.

I hope to spend my last dollar on the day I die. ..... then again...maybe a couple more birthdays beyond that wouldn't be too bad. ;-)

Die Broke might be a clever book but as the sub-title says, its a radical plan. I am not into radical plans.

I definitely plan to die wealthy, very wealthy. Trying to run out of money at the end of life doesn't make any sense to me.

I have kids that I want to pass my values, my money and my means of growing it on to as well. I am going to have worked very hard to build up my net worth. I want it to endure and have value beyond my brief moment in time.

There is nothing else that I have worked so hard to build that my sole purpose for building it is to purposely destroy it. Why would I want to purposely do that with my net worth?

I plan for my net worth to increase on average every year until I am dead. And if I raise my kids right, it will keep increasing once it's turned over to them too because I will have built it in a way that it is also self sustaining if managed properly. That may not be achievable for everyone but it's what I have planned.

I married my wife 24+ yrs ago at age 33. That day I grew up. In 4 months we bought a small house. After 8 yrs there, we built our current house. Had nothing before I married but I married an intelligent woman with a good job and not a big spender (like me). Unfortunately, we had no children (which I know makes a huge difference in kept money). She retired last October with very nice pension, we paid off mortgage last December and we have a low 7 figure and growing net worth . With kids, we would not have been able to do this in 24 years but still very proud of our accomplishment together. Compounding is king!

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