Doing it right from the begining is easier than digging yourself out. teach kids

[NWOutlier]

This isn't my bad-assity, but I had to share this;

http://finance.yahoo.com/news/27-year-old-millionaire-anton-ivanov-financessful-184823184.html

he saved up to 100% at times as a teenager.. SMART!  this guy rox!


Steve

[Bob W]

That is an amazing story!   

What blew me away was this though --- he decided to enlist in the U.S. Navy at age 20. He earned about $55,000 a year as an electronics technician and took distance learning classes to earn a Bachelor’s degree in information technology and programming. Uncle Sam picked up the tab for his tuition and fees. 

No wonder the US government is screwed.  Pay a 20 year old electech 55K plus benefits plus education!  Seriously!   That almost makes this a wall of shame post.  In the private sector he would have been paid 20K with no benefits and no ed.  So the feds were essentially paying him 3 times his worth.  Shameful!

Love the kid though!

[NWOutlier]

I hear ya!

I loved the article for myself because I always had the knowledge around late teens, but - for some reason never stuck with it.  I'm 46 now, and just like I learned then, it cost me much much more per month to acquire my goal because I didn't start (and stick with it) young.

He carries more debt than I would be comfortable with; but - with his work ethic, age and focus he will be fine.

Gosh, I can't wait till I don't "have" to go to my job and I can start workon on what's important to ME! and my family!

Best Regards,

Steve

[RFAAOATB]

That is an amazing story!   

What blew me away was this though --- he decided to enlist in the U.S. Navy at age 20. He earned about $55,000 a year as an electronics technician and took distance learning classes to earn a Bachelor’s degree in information technology and programming. Uncle Sam picked up the tab for his tuition and fees. 

No wonder the US government is screwed.  Pay a 20 year old electech 55K plus benefits plus education!  Seriously!   That almost makes this a wall of shame post.  In the private sector he would have been paid 20K with no benefits and no ed.  So the feds were essentially paying him 3 times his worth.  Shameful!

Love the kid though!

It's more of a combination of the private sector more effectively exploiting labor with low wages and the Federal Government admitting the Navy lifestyle has a lot more hangups that go in the package which it tries to offset with good benefits.

When someone looks overpaid compared to you, the question to ask isn't "why is he overpaid?", its "why am I underpaid?".

[Dicey]

I hear ya!

I loved the article for myself because I always had the knowledge around late teens, but - for some reason never stuck with it.  I'm 46 now, and just like I learned then, it cost me much much more per month to acquire my goal because I didn't start (and stick with it) young.

He carries more debt than I would be comfortable with; but - with his work ethic, age and focus he will be fine.

Gosh, I can't wait till I don't "have" to go to my job and I can start workon on what's important to ME! and my family!

Best Regards,

Steve

This kind of thinking (bold face added) frustrates the hell out of me. There is nothing wrong with mortgage debt! He borrows money at very low rates to invest in assets that appreciate. He has a good EF, plus reserves specifically earmarked for his properties, a ton of other accessible savings, and positive cash flow. How the hell can you find fault with that? His story should be required reading for every high school student everywhere. I hope he writes a book!

[Dicey]

I didn't have time to add this earlier, so I'm back. After you read the article, check out a few comments. The vitriol there is unbelievable! This is why I love the MMM Forum. The level of support and overall courtesy is amazing! On Yahoo, the majority are skeptical of his success. Here, people are encouraged by it. Big difference. Thanks to everyone, especially the mods, for making this such an inspiring "place".

[NWOutlier]

Hi Diane,

With regards to the item you bolded; I wastn't identifying what's wrong with his picture, I was comparing it to mine.  For 'me' I would choose lower debt (maybe none, just depends on my situation at the time).  So, it's more of a comparison than identifying what is wrong with mortgage debt.

Right now, for example, I carry 180k of debt @ 3.5% because I can make so much more (and have readily available cash) by having 60-180k in a taxable vanguard account.

Thanks for the response Diane, I'm sure others saw the same thing you did in my comment.

Steve (NWOutlier)

[skunkfunk]

The level of support and overall courtesy

You get out of here. This is the internet, we don't need that crap.

[Dicey]

The level of support and overall courtesy

You get out of here. This is the internet, we don't need that crap.

BwaHaHaHa!