Save People Save

An inspiriting MarketWatch story about how low income family manage to save a big chunk of their income. For those of you barely making it and driving a BMW, get your acts together and save. I know a guy who made $30K and drove a BMW. With prestige of driving a BMW he “needed” to dress well and dine well as well. Needless to say he had no saving, and retirement plan is out of the question. What sank my heart was when he had to return a pair of pants he had just purchased due to gas price spike – but hey, his beemer needed gas and that pair of pants make him look fat anyway. When he ask me for investment “hot tips”, other than the usual “there are no such thing as get-rich-quick investment advise…” speech I usually give, I can look him straight in the eyes and say “You can loose you pants, you know.”

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