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I’m not saving ninety percent of my income for myself

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Re: I’m not saving ninety percent of my income for myself

#121

Not sure what to make of this. Marrying a rich man was the deus ex machina. I thought the talk about breaking the "cycle of poverty" was pointing towards a heroic use of frugality to overcome, but no, solution was marriage. And then the extremely/uncomfortable frugality, as opposed to healthy frugality, after becoming rich points to pathology more than anything else.

> ...solution was marriage...

What if it's an important part of the equation? Stable marriages have rather strong inverse correlations to poverty levels. Maybe finding someone rich in this case was especially fortunate, but even marrying someone of similar economic means tends to be a boon (on average at least).

And pathology... most people are "pathological" in some way. It's hard for me to tut about personal inclinations too much.

Re: I’m not saving ninety percent of my income for myself

#122
post #42

Earlier quoted context omitted.

It feels like a recipe for marital disaster that she's living this extremely frugal lifestyle despite him making good money and he "goes along with it" (her words)

Only if you assume spending more money will make you happier though

It is extreme frugality, not just frugality, when you choose to put your dining table in your bedroom.

I would honestly never live like this, regardless of my financial goals. I hope the husband is actually enjoying it...

Re: I’m not saving ninety percent of my income for myself

#123

Earlier quoted context omitted.

France is ahead in fashion and few other art forms. America is ahead in popular art because LA is the silicon valley of culture and has the population of Europe. After a certain point it's a language and population thing, and France has a language barrier compared to english.

I've never really understood fashion, so I can't comment on that (Whoever makes the models wear the most ridiculous outfit wins?). However, why isn't France going to Mars? Where is France (or Germany, or Sweden etc for that matter) creating the Internet, or GPS, or Hip-Hop, or Jazz, or doing cutting edge medical research? It's not that they don't do that at all - it just, that, if the safety net was such a strong dri…

While I hear your point that the explosion of cultural proceedings is below the utopia mentioned here, it may be worth noting that the WWW was invented by a guy born in London working partly for the French government. That was Tim Berners-Lee ;)

Re: I’m not saving ninety percent of my income for myself

#124
post #64

Earlier quoted context omitted.

Hasn’t really helped Japan get out of their 30 year depression, though.

And who wouldn't love to live in their "Depression" They have 2% unemployment and some of the highest quality of living standards in the world. Sounds like they are doing something right. If you opt out of the growth is required mindset its perfectly possible there are other economic models which work just fine to live under despite the scary sounding descriptions.

Have you been to Japan? People don’t make very much money and work very very hard (or atleast pretend to). They have very small houses and are so risk adverse that most are totally unwilling to even take a small chance to make their lives better. The culture is built on a foundation of shame and fear. Their economy is collapsing and they are too racist to let any immigrants in. Japanese people are probably the most hateful and racist individuals I’ve ever come across. I’ve even come across establishments that ban foreigners from the premises.

I lived there for half a year when my wife was teaching english after college and I wouldn’t want to go back. The dirty looks I got, the salarymen sucking their teeth at me, the houses I was denied from renting, the list goes on and on.

And I look white and put together. God help you if you’re black or an ‘inferior’ darker asian.

Re: I’m not saving ninety percent of my income for myself

#125
post #12

I'm honestly so jealous of the husband's situation. 7-figure networth before hitting 30, a 4-bedroom home in a major tech hub, and a compulsively frugal wife who is obsessed with financial planning and amplifying your shared incomes/networths. The dream. This article just feels like a vector to drive traffic towards her sites, though.

I mean, I’m in a similar boat. I did the whole “make it rain” thing for a few years by dripping in designer clothes, fancy restaurants, etc. But that lifestyle made me way more anxious as impostor syndrome kicked in. Having money doesn’t really solve problems; there’s always someone with more who will make you feel poor. Buy a Gucci bag and it’ll feel like half the world is dripping bespoke Hermès. You can’t win. I l…

> Buy a Gucci bag and it’ll feel like half the world is dripping bespoke Hermès. You can’t win.

This is fascinating. I suspect 99% of people simply don't care and can't even tell a $50 purse from $5000 one, and this Gucci vs Hermes rivarvly is only relevant for a tiny minority of sad snobs. Like the other poster said, good for you for ditching this.

Re: I’m not saving ninety percent of my income for myself

#126

Earlier quoted context omitted.

Then it might surprise you that 30 states in the USA have laws requiring you to be financially responsible for your parents' care if they cannot cover it themselves.

That’s insane, as there is no limit to the amount of money that can be spent on elderly care, and whole industries with the sole purpose of bilking the life savings of the elderly. Do you have a link to the list of states?

https://en.wikipedia.org/wiki/Filial_responsibility_laws

(see citations)

Re: I’m not saving ninety percent of my income for myself

#127
post #64

Earlier quoted context omitted.

Hasn’t really helped Japan get out of their 30 year depression, though.

And who wouldn't love to live in their "Depression" They have 2% unemployment and some of the highest quality of living standards in the world. Sounds like they are doing something right. If you opt out of the growth is required mindset its perfectly possible there are other economic models which work just fine to live under despite the scary sounding descriptions.

> And who wouldn't love to live in their "Depression" They have 2% unemployment and some of the highest quality of living standards in the world. Sounds like they are doing something right.

This guy.

I left Japan because I felt that the fabric of Japanese society was unraveling. Maybe that’s a bit dramatic, but at a minimum, the “social contract” was changing dramatically, and it was debatable whether the change was good or not. My opinion was that it was not.

Note, however, that I was not in Tokyo. Tokyo and the rest of Japan are basically different worlds. I may have a different opinion if I lived and worked there.

Things that made me sad:

- People with good, stable jobs were hyperconservative with their money, as though a crash had just happened or was imminent. This has killed the velocity of money in the country, and it’s terrible for the economy. Simple example, a group I used to be a member of used to have four big enkai (basically a party) at roughly between $100 and $250 a head (sometimes with hotel/onsen stayovers) as well as second, third, and fourth stops at additional bars. For folks with lesser means, the folks with greater means would pick up their share of the extra bars. Now that same group meets once a year at about $50-$60 a head and there is a 1-2 drink second bar. Incomes of the participants is the same or better than before. Note that I am not advocating one over the other, just that it’s indicative of the drastic slowing of the velocity of money in the economy.

- Once-proud towns are becoming villages (legal distinctions) and are having to merge into other towns. This has squashed a lot of the furusato identity, imo.

- Houses in provincial areas, some of them extremely nice, are either abandoned or only used during obon and maybe new year celebrations.

- Top students from top 20 universities are not guaranteed really good jobs any more. Decent ones, sure, but great ones? No. They are feeding much lower down on the food chain now.

- Ways for non-salarymen to have a good social/financial living have decreased dramatically. Far fewer OLs (love or hate the idea of them, they were a great way for men and women of a similar social status to meet/date/get married). For folks with no college, opening a little bar or snack is nothing like it used to be. It’s still possible, but the number of enterprising folks who can open a small bar and reasonably expect to make salaryman level of income or better (it the past, it was often much better) is far smaller than it used to be.

- Degree credentialing has become a thing. I think this was sort of brought over from the US, but the implementation has been terrible. For reference, in my department (I was a professor), the worst students and future professors were the only folks who applied to grad school. The worst students did so because they couldn’t get a job, and a masters degree would help them the next time around. The department took them for the money.

- My close friend and real estate agent and real estate manager actively discouraged me from buying a house. She said it was a bad investment unless you had access to privileged deal flow (like she did) or were going to die on that land (probably not that house).

I could go on. Needless to say, I did not think that my future in non-Tokyo Japan was going to be like living in some sort of utopia. Far from it.

I now live in California. It has its problems, too, but i much prefer it to where I was in Japan. Maybe Tokyo is different, but I wasn’t willing to make that bet over California.

Note that I love Japan, and there are certain aspects I miss about living there, but “great feelings about the current and future social fabric” is not one of them.

Re: I’m not saving ninety percent of my income for myself

#128

When I read stories like this, I always think of the systemic factors that are creating this behavior; that America, and indeed many countries in the world, do not have the social safety nets to take care of its own people when they can't work anymore. It would be better and more efficient for a nation as a whole to take care of its children so that they can choose their own avenues of success rather than needing to…

> ample free time to think, to explore, to experiment, to create People would probably go crazy from the boredom and start killing themselves. Work and struggle are good and inspire more creativity and inventiveness than doing nothing

There were (and still are) whole families of aristocrats who never needed to lift a finger in their life, and they seemed to find ways to not be too bored. I've never heard of high degrees of suicides amongst the very rich.

Re: I’m not saving ninety percent of my income for myself

#129

Earlier quoted context omitted.

That’s insane, as there is no limit to the amount of money that can be spent on elderly care, and whole industries with the sole purpose of bilking the life savings of the elderly. Do you have a link to the list of states?

https://en.wikipedia.org/wiki/Filial_responsibility_laws (see citations)

Thanks. Damn, glad I don’t live in one:

“In 2012, the media reported the case of John Pittas, whose mother had received care in a skilled nursing facility in Pennsylvania after an accident and then moved to Greece. The nursing home sued her son directly, before even trying to collect from Medicaid. A court in Pennsylvania ruled that the son must pay, according to the Pennsylvania filial responsibility law.”

Re: I’m not saving ninety percent of my income for myself

#130

Earlier quoted context omitted.

Yeah, I like our world isn't wonderful as is. Imagine what a peasant from 300 years ago would think seeing what their work would be value at today. Its peanuts in our perspective, but not starving is a start, eating meat would be a luxury, being able to see a doctor. Hating ourselves is trending right now, sad.

I would certainly hope that 300 years of techonological progress would offer the basics to a "peasant".

I believe the peasant's king would be just as astonished.

Do you think our world isn't incredible, and by far the best a human could ever hope for so far?

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