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My "Rich" Dad who quit school at 16...
Posted by Steve T. [Email] (more from Steve T.) on Sun, 14 Aug 2011 17:55:24
In Reply to: Re: "Car payments are never a good idea" - Disagree, Justin VanAbrahams [Profile/Gallery]
, Sun, 14 Aug 2011 10:51:09
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My dad never had a credit card in all of his 74 years. Always paid cash for everything. Our cars, our house, our vacations, our meals out - he would just pull out the wad and pay for it.
When it came time for me and my sibling to go to college, I asked him if I should take out student loans - since we were both going to relatively expensive private colleges and that was what all of our friends were doing. He just gave me a dirty look (like we had just insulted him) and told me sternly that this was not my concern - that he would pay for it. And he did - with cash.
And when he died - he left us a boatload of cash - and not a dime in debt.
When I visited his old home town after he died - a town he hadn't returned to after leaving it over 50 years before - I met an old man and asked him if he remembered my father. The guy just looked at me with wonder and said - "Of course I remember him - he just left here one day. Wherever did he go to? He was the smartest guy we had ever seen."
He had a small business that he sold a few years before he died. He had no real friends to speak of other than my mom and us. He came home each day after working 6 days a week, ate dinner, then he sat in front of the TV and fell asleep. But never a dime in debt he was.
I wish I had picked his brain about how the heck he managed that.
posted by 173.63.208...
Posts in this Thread:
- Financing a vehicle argument?, Philip Schall, Sat, 13 Aug 2011 18:16:35
- this is simple.., AlS, Sun, 14 Aug 2011 14:20:17
- Your results may vary, No Snaab, Sun, 14 Aug 2011 07:49:18
- Some this is cash flow, Noel, Sun, 14 Aug 2011 07:16:38
- Credit became too plentiful and easy, BlueWhite, Sun, 14 Aug 2011 06:47:46
- Re: Financing a vehicle argument?, Dan-O, Sun, 14 Aug 2011 05:50:38
- I'm in agreement with you, Joeychess, Sun, 14 Aug 2011 02:50:31
- Cash is King, smt, Sat, 13 Aug 2011 22:22:07
- "Car payments are never a good idea" - Disagree, nwas, Sun, 14 Aug 2011 10:22:44
- Re: "Car payments are never a good idea" - Disagree, Justin VanAbrahams , Sun, 14 Aug 2011 10:51:09
- My "Rich" Dad who quit school at 16..., Steve T., Sun, 14 Aug 2011 17:55:24 <-- Viewing This Message
- Re: My "Rich" Dad who quit school at 16..., TML , Wed, 17 Aug 2011 17:30:20
- Re: My "Rich" Dad who quit school at 16..., rico567, Tue, 16 Aug 2011 18:56:11
- That was a great story, thanks. NM, AeroBaron, Mon, 15 Aug 2011 13:12:44
- Re: Financing a vehicle argument?, George K, Sat, 13 Aug 2011 21:21:12
- I financed..., SRS900S, Sat, 13 Aug 2011 19:58:54
- Re: Financing a vehicle argument?, JerseySaab , Sat, 13 Aug 2011 18:29:55
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