by Outcast_Searcher » Sun 02 Apr 2017, 14:00:56
$this->bbcode_second_pass_quote('Cog', 'I')f there is any advice I could give a younger guy is to take on minimal debt, live below your means, save money, and have another marketable skill besides the one you work in. You can ride out a lot of bad situations if you do this.
This is very powerful. One of the biggest benefits (and I know because I lived this way from the start -- lucky me, brought up by depression era parents) is that once a simple lifestyle is normal, there is little to no feeling of sacrifice or self deprivation with "doing without". It's just normal.
I remember when reading "The Millionaire Next Door", one example was that the "frugal" brother was content with a 4 year old Honda Accord, while his high-living brother had (as I recall) three expensive luxury cars, like a BMW Seven Series "to impress clients".
I remember thinking: A 4 year old Honda Accord -- that's as good as it gets! (I was driving a 14 year old Toyota Celica, utilizing plenty of coat hangers, duct tape, patience, and lots of visits to the mechanic, but it still beat car payments). I didn't want to impress anyone, just reliably get from point A to point B.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.