Everyone tells you from your youth forward that you need a long range financial plan. But, who in their 20s and 30s is thinking about putting money aside for retirement? I just heard the other day about the most successful long range financial plan for many lower and middle-income folks who say
My long range financial plan is to die before all my credit card debt comes due.
When I graduated from college in 1970, I suddenly became rich beyond my imagination. My $10,000 annual salary was way beyond any income I had ever made. I didn’t know where I would spend all that money. My first major purchase was a spanking new Ford Mustang. I didn’t have any way to get to my new job, or even home from college, so I bought it from a local dealer in my college town. I bargained with the salesman to include a full tank of gas as part of the sale. I didn’t have enough money to put any gas in it, so that worked out well.
When I was in college on my own, ALL of my earnings went to paying tuition and room & board. I have always been frugal with my money. I think I am still living in the 1970s when bread was 29¢ and regular gas was 32¢ a gallon.
With that mentality, I have never paid a penny in interest on credit cards. I use them every day now, but always pay them off monthly.
RJ's Corner 
Agree! This has always been our practice. My biggest advice to everyone is to live within your means! Only use credit for convenience, not for money you don’t have.
My husband and I have both been retired for 10 years now. We can do and go wherever we want. Of course having the same frugal attitude that you have, we don’t buy or pay for many things (expensive vehicles or tickets to concerts or professional sports, etc., etc…) which seem grossly over priced to us and not worth our hard earned money.
We have traveled extensively (over 50 countries) and will be leaving for a 111 day world cruise on January 4th! Neither of us had huge salaries, but lived within our means, and saved and invested regularly. We raised two children, who had everything they needed, but weren’t spoiled (much) they attended State University got advanced degrees and graduated with no debt.
Our philosophy now is to do and travel as much as we can, while we can, because there are no guarantees. Like you we know we have less time before us than behind us.
Unless something unforseen happens, we should have enough funds to take care of us to the end and leave some for our family. However, they are not waiting for or depending on that inheritance, because they learned to live the same way, within their income.
Sorry this response got so long. But you can probably tell that your message hit a chord with me.
And yes, of course, I know that not everyone is so lucky or has enough (especially children) and we do give to many charities and help where we can.
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Thanks for the personal stories, Jackie. Yeah, it seems we think mostly the same on these issues. I haven’t traveled to 50 countries, but I have been through all 50 U.S. states. I am opening up another blog called RJsTravels that will be about pictures and stories of those trips.
Don’t worry about the length of your thoughts, I loved every bit of it.
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A very long cruise. Have you ever considered that RJ? Somehow I think you would really enjoy it. Different cities.
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Yeah, that is a possibility, Janette. Maybe a Mississippi River Cruise. I always wanted to take one of those.
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