As a retired baby-killer, aka military officer (I'm trying to relate to our Daily Kos and Huffington Post readers), I'm not exactly rich, BUT:
- I started a dollar-cost-averaging mutual fund savings program when I was a 2LT
- I have never purchased anything I didn't think I could afford
- I decided to learn a marketable skill when I was 22 (fixed-wing pilot) and had my commercial license by the time I was 23
- I earned a post-grad degree on my own time by the time I was 30
- As a result I have been able to earn a slightly-over-the-six-figure-threshold salary since I retired from the baby-killing business.
Today:
- I own my house
- I own three cars (earliest model is a 2002), paying the loans for each off in less than 2 years (one I bought cash)
- I max out my 401(k) each year
- I max out my IRA each year
- I max out my kid's 529 college savings account each year
- I pay off my credit card bills in full each month
- I have one outstanding loan...a HELOC for miscellaneous remodeling projects around the house of which I have already repaid ~20% in less than a year. NOTE: my accountant said it was a good idea, due to the income tax break (!) I would get, i.e., I could have paid for the work out of savings, but this was a shrewder move, apparently.
In other words, I save my money and don't spend what I don't have. I repay loans as fast as feasible, I save for the future, I abide by the law (speeding doesn't count) and I support two other people with food, shelter, clothing, responsible behavior and love.
- I started a dollar-cost-averaging mutual fund savings program when I was a 2LT
- I have never purchased anything I didn't think I could afford
- I decided to learn a marketable skill when I was 22 (fixed-wing pilot) and had my commercial license by the time I was 23
- I earned a post-grad degree on my own time by the time I was 30
- As a result I have been able to earn a slightly-over-the-six-figure-threshold salary since I retired from the baby-killing business.
Today:
- I own my house
- I own three cars (earliest model is a 2002), paying the loans for each off in less than 2 years (one I bought cash)
- I max out my 401(k) each year
- I max out my IRA each year
- I max out my kid's 529 college savings account each year
- I pay off my credit card bills in full each month
- I have one outstanding loan...a HELOC for miscellaneous remodeling projects around the house of which I have already repaid ~20% in less than a year. NOTE: my accountant said it was a good idea, due to the income tax break (!) I would get, i.e., I could have paid for the work out of savings, but this was a shrewder move, apparently.
In other words, I save my money and don't spend what I don't have. I repay loans as fast as feasible, I save for the future, I abide by the law (speeding doesn't count) and I support two other people with food, shelter, clothing, responsible behavior and love.
So, what's my share of the bailout?
Just askin'.
...you will be billed for your share as soon as we can allocate funds to all those poor misbegotten wretches who didn't buy into your decadent and- certainly racist- economic fallacies.
Sharing the wealth is patriotic- surely you can see that, comrade.
But I admit Mom helped, too.
And yeah, I figured out all I get from the bailout is the chance to do the bailing.
And I'm not going to get a thank-you note from anyone, either. Those will go to Congress, who will coerce me to pay other people's bills.
I am *so* happy fluffy-bunny happy to know that just buying the truck wasn't sufficient, for example, there might be a surcharge.
If you believe that every citizen deserves a freebie handout, why deprive them of a freebie handgun, hmmmm?
It took me years to figure out half the stuff you did when you were 22, so I'm not one to give too much advice on the money front. I did get my own post-grad degree on my own, and I'm working on my second, but I'm not sure how it's going to help me while I'm in the AF. Mostly just padding for when I get out years from now. The military has a terrible track record of properly using the experience and education of its members, so I doubt I'll ever get to utilize the stuff I actually know.
About all I'm worried about now is making sure I do something I really enjoy when I get out. I can't stand the thought of doing this job as a civilian after I retire. I see what it does to those civilians. Sure, they make good money, but is it worth it?