Money-saving tips for rich people

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Viewing 18 posts - 1 through 18 (of 18 total)
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  • #1600887

    👑RebYidd23
    Participant

    #1601000

    Joseph
    Participant

    Buy low, sell high.

    #1601011

    CTLAWYER
    Participant

    No savings and they can’t do it all.
    Need a R/T Bus class to southern France in about 40 days. They could not find or Book Delta (who had the best times and shortest layover in Paris. They offered other longer flights on multiple airlines for $500 more than booking on Delta’s website.

    I learned decades ago to avoid businesses or items with a do all claim.
    The English idiom is Jack of all trades, Master of none.
    In the clothing business, when you see an item advertised as ‘one size fits all’ it doesn’t, maybe most, but not all.

    #1601054

    👑RebYidd23
    Participant

    Buy low, sell high often becomes buy low, watch it disappear.

    #1601128

    yehudayona
    Participant

    Did something get deleted? CTL’s post seems out of context.

    #1604517

    All I can see in RebYidd’s OP is an ad (although I can’t actually see
    the ad either, thanks to the filter on the computer I’m using.)

    #1604728

    CTLAWYER
    Participant

    @yehudayona
    The only thing in the OP’s post was an advt for a travel company in Boro Park that guaranteed lowest rates on travel.
    I thought that was his tip on saving money and published my results. Off today to South of France on Business be back Thursday. Going direct to the airline was the cheapest for Business class. Can’t use miles, because client is paying for flight.

    #1604715

    1
    Participant

    It’s called insider trading

    #1606074

    knaidlach
    Participant

    just went on this thread to see what the rich are talking about lol

    #1606179

    CTLAWYER
    Participant

    @knaidlach

    “Ben Zoma says:
    Who is rich?
    The one who is appreciates what he has…
    (Talmud—Avot 4:1)”

    I would be very happy and feel rich with with a three large knaidlach in my bowl of chicken soup.

    #1606257

    Joseph
    Participant

    CTL: If your family net worth became $350,000 tomorrow (with your then living in a lower middle class home) and your family annual income became $75,000, and it remained so for an indefinite period of time, would you be happy and appreciate what you have without being upset you didn’t have more?

    #1606575

    CTLAWYER
    Participant

    @joseph
    Short answer, yes
    I have lived through good and bad times.
    In the 1950s, my father made more than $50,000 per year when a family was middle class if the income was $5000. In 1962, his business partners put the business into bankruptcy while he and my mother were on an extended business trip abroad.
    The family survived on the $4,200 per year my mother made as a public school teacher, while he rebuilt his business. We lived in a house that cost $16,000 new in 1954 and the monthly mortgage payment was $75 including taxes. We ate lots of pasta and rice and chicken on Shabbos and yuntif. I wore hand me down clothes from my eldest brother. I had a great childhood.
    My father rebuilt his business, paid all our past and current education expenses and we all made something of ourselves.
    In the 1990 recession of G HW Bush, I lost millions of dollars of investment property to foreclosure. I tightened my belt and we went on with life.
    I am not wanting material things. My car is 14 years old and works fine, I don’t get a new one because I don’t need it. My children are educated and capable of supporting themselves and their children, they don’t need our support.
    In down times I appreciate what I have and enjoy the memories of experiences past without jealousy or longing for more stuff and money.

    CR readers know that Mrs. CTL has had terrible health issues for the past 2 and 1/2 years. I’d gladly trade the CTL compound and material things for a 2 room trailer if in turn her health was restored.
    After all…it’s all just stuff.

    #1606596

    Non Political
    Participant

    Joseph,

    Would you ask a strong able bodied person how content he would be if he found himself sickly and weak for the foreseeable future? How about a sighted person, how content he would be if he found himself losing his sight? Sure, people born that way become accustomed to their lot (as do most people as we age) but a sudden loss of one’s abilities is traumatic.

    The money a person is blessed with is their strength how one uses it and how it affects ones midos is a nisayon. Like the Masilas Yesharim says, everything in this world is a nisayon, weath on one hand and poverty on the other. So you can also turn the question on it’s head and ask how content you would be if you found yourself tomorrow in the top 1%.

    Also, it has been my observation that wealth does not seem to be a prerequisite for preoccupation with money and social status.

    #1606649

    1
    Participant

    In most cases, wealthy people have wealthy parents. A lot of the new money people are involved in shady deals, in some form.

    #1606670

    knaidlach
    Participant

    CTL. thanks for puting a smile on my face lol

    #1606685

    Genya
    Participant

    Plead poverty when you go to the tuition assistance committee, so the Rebbe’s family can live in abject poverty.
    While you take your extended family to a hotel for Pesach.

    #1606787

    CTLAWYER
    Participant

    Knaidlach……….
    You are welcome
    #1
    How much equals wealthy?
    My parents and Mrs. CTL’s parents were middle class small business owners. They worked hard, raised their families. They educated us and made sure we could earn a living. They did not bestow monetary gifts upon us. Yes, we received many family heirlooms, but not money or real estate. Our mothers were both sick for a long time at the end of their lives and the medical system took all their assets and then some, We happily supported them as they supported us when we were young.

    The one thing our parents and grandparents taught us was don’t buy what you can’t afford. Home mortgages and business loans were the only money we borrowed. The only time we had car loans was when there was zero interest promotions that made sense to borrow and not pay cash.
    I am in my mid 60s. My family is raised, our home is paid for. I still, mow the lawn, take out the trash, clean the swimming pool and shovel snow up to 4″ deep (deeper gets plowed) myself.
    I may be an attorney, but my father Z”L taught me to use tools. I don’t hire a handiman to do most work round the house. This past Sunday, I painted a bedroom and built an additional closet in it. One of our granddaughters is coming to live with us for a semester and help my wife.

    #1607518

    CTLAWYER
    Participant

    Just returned yesterday from a whirlwind business trip to the south of France. It cost my client $10,000 to send me for what turned out to be a 45 minute meeting. Just to get a recalcitrant sibling to sign a contract regarding an estate sale.
    The sibling said: ‘my brother is a fool who wastes money, instead of sending you, all he had to do is call and ask me to sign, then FEDEX the documents., BUT, he is too high and mighty to lower himself to ask anything of me. He has the hired help do it.’

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