Money Money Money

[Anonymous]

Yes money provides so much.

Where does it fall on your list of priorities? If you have money is it important that you let other people know by material things? Do you assume people are jealous of you?

It seems like many responses point to money money money being the driving factor.

[Anonymous]

I have grown to appreciate its importance with age: realizing what it costs to raise a child, pay for college, and do this for several children, while having enough put by for retirement, not just daily living expenses for also nursing homes...

... it means living way below your means all the time, essentially.

[Anonymous]

I grew up LMC to parents who grew up in poverty. To me money is stability and stability is everything.

[Anonymous]

Money for me = security.

I have always had an unhealthy relationship with money. I grew up with immigrant parents who came from a very impoverished country, their life growing up was about as difficult as one can imagine. We're talking no toothbrushes, no no medical care, no sanitary products, one outfit that was handed down from sibling to sibling. My mom isn't really sure what day she was born because very few records were kept. Anyhow they made quite the life for themselves when they emigrated to the US, and even though they're now wealthy beyond any level they could have hoped for, I was raised with the mantra of save save save. don't spend your money. you don't need XYZ. Why do you need two pairs of shoes, one is enough.

[Anonymous]

Money isn't the point, the flexibility and security it provides is the point.

[Anonymous]

Like everything else, perspective is required. I retired early as a big law partner with a net worth of about $4 million. A decade later, I’m worth about $7 million. When I left my firm I was making close to $1 million a year, and had I stayed where I was by now I’d likely be making close to $1.5 million a year and my net worth would probably be double what it now is. But it wasn’t worth it to me. Yes, money is important but it isn’t everything.

[Anonymous]

Anonymous wrote:Yes money provides so much.

Where does it fall on your list of priorities? If you have money is it important that you let other people know by material things? Do you assume people are jealous of you?

It seems like many responses point to money money money being the driving factor.

Money is very high on my list because I come from a poor family. I'm the first one in my family to go to college.
I have escaped poverty and I now consider myself UMC.
I have experienced growing up that rich people are treated with more respect. The poor are ignored and disrespected.
I buy expensive things to let other people know that I have money. Everywhere I go, I'm more respected and I'm getting better services because of it.

[Anonymous]

For me, it has changed. When I made relatively little money it was very important since I lived in debt. When I had young children, job security and quality of life was more important than money. When I sent kids to college, having the money to pay tuition was important.

Now that I am relatively comfortable, money is security. But I still buy a 3-4 year old used car instead of new, I wear a Citizen watch instead of an Omega or Rolex and I live below my means. Keeping up with my neighbors/peers doesn’t matter to me.

[Anonymous]

For me money = security and safety. Fortunately, I have realized in my early 40s that no amount will ever be "enough" for me to feel safe, so I'm working on that.

[Anonymous]

Money gives you choices.

[Anonymous]

Anonymous wrote:I grew up LMC to parents who grew up in poverty. To me money is stability and stability is everything.

Same. Stability, less stress and choices.

[Anonymous]

Money = safety, security, and stability (SSS)

[Anonymous]

Security and independence. My mom was SAH amd while my dad made plenty of money. He only gave her a set amount of cash in an envelope every month to spend on herself and us kids, so I constantly lived with her stress of not having enough. I decided young that I would never live that way.

[Anonymous]

Anonymous wrote:Security and independence. My mom was SAH amd while my dad made plenty of money. He only gave her a set amount of cash in an envelope every month to spend on herself and us kids, so I constantly lived with her stress of not having enough. I decided young that I would never live that way.

That’s horrifying, PP. Was he more generous as he aged, and did he leave you and your siblings money if he’s no longer around?

Like others have posted, money means security for me and helps me not worry about falling into the stressful life I had growing up. It means my kids have grown up without fear of poverty, and with that the freedom to explore the world a bit instead of just grinding and working from a young age.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Security and independence. My mom was SAH amd while my dad made plenty of money. He only gave her a set amount of cash in an envelope every month to spend on herself and us kids, so I constantly lived with her stress of not having enough. I decided young that I would never live that way.

That’s horrifying, PP. Was he more generous as he aged, and did he leave you and your siblings money if he’s no longer around?

Like others have posted, money means security for me and helps me not worry about falling into the stressful life I had growing up. It means my kids have grown up without fear of poverty, and with that the freedom to explore the world a bit instead of just grinding and working from a young age.

He’s gotten a little better with age but they still have the same system and my mom is still totally in the dark. He paid for all of our educations all the way up through law and medical school but never gave us any other financial gifts (though really, that one was huge and I thank him often). My sister and I are both high earners now, neither of us would SAH.