Comments on: 19 Things Your Suburban Millionaire Neighbor Won’t Tell You

By: It’s Not Always What You See | cheerful.egg

It’s Not Always What You See | cheerful.egg — Sat, 28 Jan 2012 14:38:11 +0000

[...] across this picture on Facebook today and loved it. The first of the 19 things your suburban millionaire neighbor won’t tell you: Over the long run, you’re better off if you strive to be anonymously rich rather than [...]

By: Nalchik

Nalchik — Tue, 15 Nov 2011 20:51:38 +0000

From personal experience, I would agree with all items except:
#7 Not necessarily a job, it may be occupation or hobby that pays well or reduces your expenses.
#10 Maybe, but this ignores the health insurance issue. Good insurance doesn’t always come with the job you love.
Could be a job you like with good benefits. Frugal people weigh like vs. benefits and decide if it is worth it.
#12 Worked just the opposite for me. Started small and kept saving. Found one day that all those small numbers turned into big ones. Kept working on small numbers and the big ones just multiplied.
Whatever way we make it work, most important, is to set a strategy and stick to it. Like Paula Poundstone used to say “Just stick to it!”

By: Len Penzo

Len Penzo — Tue, 15 Nov 2011 02:14:35 +0000

Good for you! I expect to be there very shortly myself.

By: Bagnes

Bagnes — Mon, 14 Nov 2011 16:27:29 +0000

Len,
all true. I have to say it is so nice to be on that other side, you know, the people next door you are writing about? And it does not take that long. only took us about 14 years for the first $$mm:)

By: Len Penzo

Len Penzo — Sun, 02 Oct 2011 00:29:12 +0000

Thanks, Mike. And good for you! I love it when I hear real-world examples from folks like yourself. I can be done.

By: Mike

Mike — Sat, 01 Oct 2011 21:27:24 +0000

Len, great article! I printed it and left it on the counter for the 15 & 16 year old to read. My boss taught me everything you printed and he retired at 48 with 2.0M in the bank. I’m 45 live exactly as you posted and on track to do the same. I challenge all to mentor their own employees and to teach these same principles. Thank you and keep it up.

By: Money Matters « Criminal Minds

Money Matters « Criminal Minds — Sat, 01 Oct 2011 09:34:05 +0000

[...] 19 Things Your Suburban Millionaire Neighbor Won’t Tell You « Len Penzo dot Com. Share this:EmailDiggStumbleUponFacebookRedditTwitterLike this:LikeBe the first to like this post. [...]

By: Len Penzo

Len Penzo — Sun, 25 Sep 2011 00:22:48 +0000

I would be careful tying home ownership rates with economic health, good or bad. With respect to Germany, it does have the strongest economy in Europe today. But keep in mind that everything is cyclical. Germany had a struggling economy for years while it was busy reabsorbing the eastern half of the country.

By: kayumochi

kayumochi — Thu, 22 Sep 2011 19:23:13 +0000

Keep in mind that Germany has the lowest rate of home ownership in Western Europe … and the strongest economy. We have been fed the lie of the benefits of home ownership for decades and where has it gotten us?

By: Len Penzo

Len Penzo — Wed, 21 Sep 2011 02:42:58 +0000

I’m positive that we can’t lump all gov’t workers as being sloppy money managers. However, I completely agree with your assessment on the inefficiency and wastefulness of gov’t. There is no reason to manage money closely because: 1) the government usually has no competition from the private sector; and 2) they get their operating revenue from taxation.