Debt Crunch – The Invisible Rich
Debt Crunch – The Invisible Rich
Money Monk shared an article by Knight Kiplinger about the “Invisible Rich” you can read it here on Kiplingers.com It struck a nerve with me because this is where my thoughts have been going – living with a purpose, a financial purpose. In my own life, I knew an elderly woman that lived next door to my parents. She did not own a car or even a clothes dryer. She walked to the grocery store then called a cab to take her home after shopping. She hung her clothes to dry. She also walked downtown each month to do her banking, manage her portfolio of CD’s and money market accounts. This was before the internet and such but I doubt if she were here today – she wouldn’t pay for internet access just to save her time. She was a millionaire before there was Microsoft.
Her house served it’s purpose. Her clothes kept her warm and stylish. Her life was simple and comfortable but by no means easy. She was the perfect example of the “Invisble Rich”. It doesn’t matter how long it took to build this kind of wealth – what matters is that she squandered nothing. She thought through exactly where her money would go. She designed her path and then lived it.
I have always said if I somehow come into alot of money I wouldn’t spend it – spend it. I would pay off my debt, pay for a simple efficient home in full, the same with a car – low cost good quality used car paid in full then invest the rest. I wouldn’t want more than security and the freedom to choose the rest. Money and Debt – I’m wrangling a new mindset here as I start out on my own again… from scratch at 45 and still raising two more young children. If I can do it – anyone can. 
Tags: debt, kiplinger, money, rich
