Anybody watched abc 20/20 or downtown yesterday? Clark Howard.

[jamesave]

This guy is a multi-milionaire. Apparently, he bought most of his stuff in a wholesale store (like Sam's or Costco)- Stuff he bought like, shirt, and shoes, even his furniture are cheap ones. The furniture, however, still looks good, even though it is used, with the house that he has- 7 bedroom house.

He is retired at age 31. He has the radio program, clark howard show, that teach people to save money. In his wedding, he rent a compact car, instead of limo. His car? Honda Insight- to save money on gas, I bet.

Anybody listen to his show?

I was thinking, we are somehow like him with the hot deals forum in AT

He started savings since he was 19, when his parents got laid off and has no savings. That's the reason why he went to savings.

Oh by the way, he give some tips:
1. Not to be flashy- (Branded name is a no-no)
2. In Sam's club (I believe that the store he went) al the products ends in 91 cents is actually a clearance item!

 

[iamwiz82]

what a fool.

"Yay, i want to horde all my money so when i'm dead, i'll have the best funeral 10 million dollars can buy."

Live your life now, not horde everything. Saving is good, but life is more important that just money.

 

[yellowperil]

I've heard his show a few times and I think he gives good advice. But renting a compact car instead of a limo on your wedding day is a little cheap, don't you think?

 

[jamesave]

The only thing that interest me is retiring at age 31.
That beats everything. I agree, that we have to enjoy life, like luxury items.

This is the comment from my economic teacher in college (I am a chemical engineer tho)

"When you were young, you have the time but no money-
when you are older, you have the money but no time"

I really would like to retired at early age.

 

[kcklla]

Life hard and die youngthats the way to go

 

[randomlinh]

take his advice, and but in moderation i would think. I don't want a compact car for my wedding.....

also, that .91 cent think is sorta generic around.. ie retail stores .50 is usually close out or something, .88 is clearance (or something like that, i've forgotten it all ).

 

[shifrbv]

It worked for him, but imagine if everyone in our economy tried to live their lives this way. We'd have an economic collapse. No one would be buying anything outside of a Goodwill store, banks would be filled with savings - but no one interested in taking loans, businesses would slowly but surely start to shut down as sales decreased and unemployment would skyrocket. Capitalism is all about consumerism. Once people start becoming "misers", the whole thing implodes.

He made his money from his successful travel agencies. How successful would he have been if everyone was like him and started going camping instead of taking vacations?

 

[wyvrn]

<< what a fool.

&quot;Yay, i want to horde all my money so when i'm dead, i'll have the best funeral 10 million dollars can buy.&quot;

Live your life now, not horde everything. Saving is good, but life is more important that just money. >>




I have a differing viewpoint. He is less a fool because 10 years of saving means economic freedom for the rest of his life. Think about what you could do when you had no job! And he is not hording, merely spending wisely instead of throwing away money on whims. Money is not going to make you happy in the short term either, right? But like he said on the show &quot;having freedom is one of the best feelings in the world&quot;. And he continues to do this to give away hundreds of thousands of dollars each year to charities. Contrast that to most Americans who save only 5% of their budget and cannot even retire at 65!

This guy is greatness.

 

[jamesave]

I guess that's right, very good example is Japan. They are money savers- If I am not mistaken, they save about 15% of their salary in average compare to about 5-10% by the americans. But hey, that's what makes the economy so good (until last year)

I guess the point is to balance between retirement savings and the luxury items we need to have. Can't be too much on one or the other.

Heck, all I want is to retire early and bought those luxury items..

EDIT> Ditto to wyvrn

 

[shifrbv]

He had to have a better method than just &quot;saving&quot;. He had to probably &quot;invest&quot; to get where he is with his money, or he's counting on future income from his travel businesses to fund his current and future retirement. Right now, with the lowering of the fed rates this year, I doubt anyone is able to do much with their &quot;interest&quot;. I know I'm not. And knowing that inflation on many things in our economy has edged upwards of 7% over the last decade, for someone like him with copious amounts of money, he might be able to live a comfortable life OK. But for someone making an average income, it will be alot harder and they're funds may not last as long as they will probably live.

 

[hoihtah]

yeah... i saw the show yesterday... with great amazement.

i was so surprised that he didn't mentioned anantech hotdeal forum.
i swear, sometimes, i donno if i'm saving more money or spending more money.

as for me, that sub-compact car thing doesn't bother me. but it does bother me that he'd not mention anantech even on his website.