My Dad graduated college in 1929, his job ended in about 4 mos. My parents were married in Jan 1933.
Never in their lives, which entended into the early 90s did they have a credit card. The only home they owned was from 1956 to 1964, to get my brother and myself out of the lousy Boston Schools, and into a firxt rate suburban school
Dad spent his whole life after the war as a on the road salesman for TVs bicycles, and sporting goods, and various other products. Working for a family owned distributor, he never made over $18k/yearm until the busines closed when he was 75, and he worked for 5 more years part time as an independent rep, earning $23-$25k /yr
I was astonished when he passed on to discosver that his estate approached mid 6 figuress. But that money allowed for us to put my MOther who had altsheimers into a good nursing home, and it also provided for a nest egg for my brother, who is disabled wwith anxiety problems.
The bottom line - I wish it could have been different for my parents - was that they alwaays said - do we really need it?
The same thing I do today.
Too Bad that our economy is based on consumption rather then investment and preparing for the future. An example of the disaster we have now in our economy, as we have sold our vary nation into a terrible debt scam from the 'banks and parts of wall street with their God of Greed. And sold our nation to other countriee with a national debt of God only knows, by shipping our good jobs overseeas.
Kimberly Palmer, senior editor for U.S. News & World Report, writes about how to save money, avoid scams, manage debt, and be a savvy shopper. Send your personal finance questions to her for expert money advice.
Steve Smith of MD @ Mar 14, 2009 19:47:59 PM
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