Comments on: I’m Frugal, So Why Am I Poor? Part 1 http://tightfistedmiser.com/2007/02/12/im-frugal-so-why-am-i-poor-part-1/ Extreme Frugality - How to Live Well on Very Little Thu, 17 May 2012 01:10:15 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: BA http://tightfistedmiser.com/2007/02/12/im-frugal-so-why-am-i-poor-part-1/comment-page-1/#comment-24687 BA Mon, 12 Jan 2009 19:38:00 +0000 http://tightfistedmiser.com/2007/02/12/im-frugal-so-why-am-i-poor-part-1/#comment-24687 <strong>The limits of frugality...</strong> Most of the time, I really do think some people don't give frugality enough credit. However, even frugality has its theoretical limits. I never thought I'd see an actual example of this... UNTIL NOW. I mean, this guy really has me scratching m... The limits of frugality…

Most of the time, I really do think some people don’t give frugality enough credit. However, even frugality has its theoretical limits.

I never thought I’d see an actual example of this… UNTIL NOW.

I mean, this guy really has me scratching m…

]]> By: Tight Fisted Miser » Welcome Frugal Village Members http://tightfistedmiser.com/2007/02/12/im-frugal-so-why-am-i-poor-part-1/comment-page-1/#comment-173 Tight Fisted Miser » Welcome Frugal Village Members Sun, 22 Apr 2007 19:35:03 +0000 http://tightfistedmiser.com/2007/02/12/im-frugal-so-why-am-i-poor-part-1/#comment-173 [...] My post “I’m Frugal,So Why Am I Poor?” was posted in the Frugal Village forums and resulted in a big increase in traffic yesterday. I don’t know who Staceyy is but thanks for posting my article. If you are coming here from Frugal Village there is a Part 2 and Part 3 to my post that you may also want to read. If you like this site you can subscribe to the RSS feed by clicking on the Feedbutton icon at the top of the page or you can subscribe by email using the form in the lower part of the sidebar. [...] [...] My post “I’m Frugal,So Why Am I Poor?” was posted in the Frugal Village forums and resulted in a big increase in traffic yesterday. I don’t know who Staceyy is but thanks for posting my article. If you are coming here from Frugal Village there is a Part 2 and Part 3 to my post that you may also want to read. If you like this site you can subscribe to the RSS feed by clicking on the Feedbutton icon at the top of the page or you can subscribe by email using the form in the lower part of the sidebar. [...]

]]> By: Tight Fisted Miser » I’m Frugal,So Why Am I Poor? Part 3 http://tightfistedmiser.com/2007/02/12/im-frugal-so-why-am-i-poor-part-1/comment-page-1/#comment-27 Tight Fisted Miser » I’m Frugal,So Why Am I Poor? Part 3 Sat, 24 Feb 2007 03:03:07 +0000 http://tightfistedmiser.com/2007/02/12/im-frugal-so-why-am-i-poor-part-1/#comment-27 [...] This is the third and final part of my series examining the question, I’m Frugal So Why Am I Poor?  You can find the first part here, and the second part here. The first reason for still being poor was insufficient income, the second reason was uncontrolled spending in certain areas. [...] [...] This is the third and final part of my series examining the question, I’m Frugal So Why Am I Poor?  You can find the first part here, and the second part here. The first reason for still being poor was insufficient income, the second reason was uncontrolled spending in certain areas. [...]

]]> By: Tight Fisted Miser » I’m Frugal, So Why Am I Poor? Part 2 http://tightfistedmiser.com/2007/02/12/im-frugal-so-why-am-i-poor-part-1/comment-page-1/#comment-21 Tight Fisted Miser » I’m Frugal, So Why Am I Poor? Part 2 Sun, 18 Feb 2007 21:37:36 +0000 http://tightfistedmiser.com/2007/02/12/im-frugal-so-why-am-i-poor-part-1/#comment-21 [...] This is part of a three part series where I am examing why I am poor despite being frugal. In the first part I stated that the first reason is because I’ve never made much money. Today I’ll be examining the second reason for my being frugal but poor. [...] [...] This is part of a three part series where I am examing why I am poor despite being frugal. In the first part I stated that the first reason is because I’ve never made much money. Today I’ll be examining the second reason for my being frugal but poor. [...]

]]> By: Adventures In Money http://tightfistedmiser.com/2007/02/12/im-frugal-so-why-am-i-poor-part-1/comment-page-1/#comment-20 Adventures In Money Sat, 17 Feb 2007 20:54:56 +0000 http://tightfistedmiser.com/2007/02/12/im-frugal-so-why-am-i-poor-part-1/#comment-20 sorry but living frugally is only part of the equation. You need to be making money to begin with. you then save it, invest it and watch it grow instead of spending it. after a while, its annual growth rate is more than you can spend, and thats how you get really wealthy and can afford to retire. if you had started working at age 18 and saved $200/mo and invested it at 11% (thats whats a conservative return of what the stock market returned during the 90s) you'd have over $100,000 today. Had you continued it until age 65, you'd have retired with over $3 million. Nothing makes up for lost time. Considering the 22 yrs of "missed" savings, if you started today and saved twice as much, or $400/mo for the next 25, you'd make nowhere close to $3million. But the question you need to ask yourself, is do you want to be 65 and broke or do you want to have some savings when you're old and may no longer be able to find work? sorry but living frugally is only part of the equation. You need to be making money to begin with. you then save it, invest it and watch it grow instead of spending it.
after a while, its annual growth rate is more than you can spend, and thats how you get really wealthy and can afford to retire.

if you had started working at age 18 and saved $200/mo and invested it at 11% (thats whats a conservative return of what the stock market returned during the 90s) you’d have over $100,000 today. Had you continued it until age 65, you’d have retired with over $3 million.

Nothing makes up for lost time. Considering the 22 yrs of “missed” savings, if you started today and saved twice as much, or $400/mo for the next 25, you’d make nowhere close to $3million.

But the question you need to ask yourself, is do you want to be 65 and broke or do you want to have some savings when you’re old and may no longer be able to find work?

]]> By: ispf http://tightfistedmiser.com/2007/02/12/im-frugal-so-why-am-i-poor-part-1/comment-page-1/#comment-19 ispf Wed, 14 Feb 2007 04:12:54 +0000 http://tightfistedmiser.com/2007/02/12/im-frugal-so-why-am-i-poor-part-1/#comment-19 Yeah, I too think that its a myth that frugal living will make you rich. To me, frugal living is a choice to prevent myself from giving in to the constant pressure to keep up with the joneses. BTW, I was looking through your challenge reports so far, and its impressive! Good luck with the reamining days of the challange period, and with continueing the habits you hope to retain! Yeah, I too think that its a myth that frugal living will make you rich. To me, frugal living is a choice to prevent myself from giving in to the constant pressure to keep up with the joneses.

BTW, I was looking through your challenge reports so far, and its impressive! Good luck with the reamining days of the challange period, and with continueing the habits you hope to retain!

]]> By: Tight Fisted Miser » Festival of Frugality http://tightfistedmiser.com/2007/02/12/im-frugal-so-why-am-i-poor-part-1/comment-page-1/#comment-17 Tight Fisted Miser » Festival of Frugality Tue, 13 Feb 2007 23:18:19 +0000 http://tightfistedmiser.com/2007/02/12/im-frugal-so-why-am-i-poor-part-1/#comment-17 [...] The Festival of Frugality #61 is up at HustlerMoneyBlog. It includes my entry “I’m Frugal,So Why Am I Poor?“.  I read every article and left a comment or tried to leave a comment on every blog. Even though I’m a fast reader that took a few hours so I won’t be doing that again. If any bloggers reading this would like to exchange links please leave a comment or email me. Thanks. [...] [...] The Festival of Frugality #61 is up at HustlerMoneyBlog. It includes my entry “I’m Frugal,So Why Am I Poor?“.  I read every article and left a comment or tried to leave a comment on every blog. Even though I’m a fast reader that took a few hours so I won’t be doing that again. If any bloggers reading this would like to exchange links please leave a comment or email me. Thanks. [...]

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