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« Would You Keep Your Job if You Won the Lottery? | Main | Help Me Decide: What Should I Do with Sears? »

January 07, 2008

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I agree completely.

Controlling your spending is easier than increasing your income. It's boring, it's tedious, but it's true.

wealthy is a loaded word. I can live wealthy off of $50k/yr, given my standard of living choices. Someone who is accustomed to $500k/yr would be hard pressed to consider $50k/yr as being wealthy. There is an inherent economy of scales and assimilation in a standard of living.

A very loaded word. Most people can become wealthy enough to retire. Much wealthier than that would be rather difficult unless their wants are quite modest and they never do.

Great post.

Working in the finance industry has exposed me to a lot of people that make more money in 1 year than I would in a decade. Yet a lot of these people still complain that they don't have enough. Maybe they've just gotten to a point where nothing is enough, but I know many of them drop thousands of dollars getting bottle service at swank clubs on weekends.

They'll probably be okay for retirement, since they do make enough to save some even if they spend most. However, I wonder how many evenings of bottle service they can afford when they're 60. ;)

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