Hi there, Mrs. 1500 finally back at the helm, after a couple of weeks off.
I had an interesting conversation with a neighbor, who thinks she lives below her means. What does that really mean?
But first, let’s go back to last week’s question, where Mr. 1500 asked how you would invest $275,000.
BackNColo also suggested a Tesla Model X with hover mode. Thanks, but we already have a Model X, which is what the Honda Element was code-named before it came out as the Element.
Mr. FSF also suggested a new motorcycle. This is pretty funny, as I have been trying to convince Mr. 1500 that he needs a motorcycle. He owned one when we got married, I got my license shortly before I started having babies, and we both enjoy them very much. I want him to get one, but he keeps delaying gratification…
Longterm Reader, Second Time Commenter is looking ahead, and feeling a Fed rate hike/stock downturn, which would equal a buying opportunity. She suggests short-term CDs for now. I agree with her that the market is due for a correction, but it is difficult to time, so we will be investing now, and then buying more if/when the correction happens. Thanks for reading, and taking the time to comment. (And I like your name just fine…)
Frugal Fighter Pilot started off recommending gold bullion, and I thought he was serious. He wasn’t, and jumped on the VTSAX wagon as well.
May from Messy Money suggested a Lamborghini. Look for a guest rant from her in the upcoming weeks…
Thanks for the suggestions. Mr. 1500 wrote a follow up on Tuesday, about what he did with that $275,000. There were some suggestions from several readers that were so compelling, he adjusted how he was going to invest that money, and he wrote a correction on Wednesday. So thanks to everyone for their suggestions. Our portfolio looks just a bit different, thanks to you.
And now back to this week’s question, What does living below your means really mean?
I recently had a conversation with a neighbor who said, “Well, we live below our means.” This statement seems absolutely ridiculous coming out of her mouth, because if ever there was someone who spent like their life depended on it, it is this woman. But she made me start thinking, “What does that even mean?”
I feel fairly confident that the 1500’s live below our means, because we live on about 1/3 of Mr. 1500’s take-home pay. But where is the line drawn?
This family down the street may spend less than they take in, but I would venture a guess that they bring in $100,000 and save $2,000.
So readers, tell me. What does it mean to live below your means?
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