Comments on: You can't save your way to prosperity. You can't? http://www.gatherlittlebylittle.com/2008/08/you-cant-save-your-way-to-prosperity-you-cant/ Proverbs 13:11 - "...he who gathers money little by little makes it grow." Sun, 21 Mar 2010 00:11:39 -0400 hourly 1 By: Sarah McElyea http://www.gatherlittlebylittle.com/2008/08/you-cant-save-your-way-to-prosperity-you-cant/comment-page-1/#comment-7242 Sarah McElyea Sun, 17 Aug 2008 02:17:52 +0000 http://www.gatherlittlebylittle.com/?p=952#comment-7242 I read (and saved) an interesting article by Thomas J. Elpel called "Building a House on Limited Means" yesterday. He causes one to think outside of the box as far as working for material things your whole life. He encourages resourcefulness, and though his writing is not Bible-based, makes you think about what is important to you as an individual or as a family. What do you really want to do with your life, and who do you want to SERVE? Hope you read and enjoy this article. I would copy and paste it, but that might be illegal. I just don't know. God bless!!! By the way, I was 2nd out of 8 children. We grew up "poor" and without TV (probably the best thing they ever did for us), but my father was (and still is) very frugal. It has really paid off for them, and my mom will always be well taken care of, should anything happen to him. (He is very health-conscious, since his father passed before his time, and this pays off, too.) He studies his investments and will have a good retirement went he decides to stop working. I know that his saving and setting that example for us helps me be more understanding of my husband if he can't give me "everything." Daddy never took out loans and didn't ask the government for any help, either. The Lord always took care of our needs when we brought them to Him. Again, God bless you!!! I read (and saved) an interesting article by Thomas J. Elpel called “Building a House on Limited Means” yesterday. He causes one to think outside of the box as far as working for material things your whole life. He encourages resourcefulness, and though his writing is not Bible-based, makes you think about what is important to you as an individual or as a family. What do you really want to do with your life, and who do you want to SERVE?

Hope you read and enjoy this article. I would copy and paste it, but that might be illegal. I just don’t know.

God bless!!!

By the way, I was 2nd out of 8 children. We grew up “poor” and without TV (probably the best thing they ever did for us), but my father was (and still is) very frugal. It has really paid off for them, and my mom will always be well taken care of, should anything happen to him. (He is very health-conscious, since his father passed before his time, and this pays off, too.) He studies his investments and will have a good retirement went he decides to stop working. I know that his saving and setting that example for us helps me be more understanding of my husband if he can’t give me “everything.” Daddy never took out loans and didn’t ask the government for any help, either. The Lord always took care of our needs when we brought them to Him.

Again, God bless you!!!

]]> By: Weekly Round-Up: Summer Olympics Edition | Green Panda Treehouse http://www.gatherlittlebylittle.com/2008/08/you-cant-save-your-way-to-prosperity-you-cant/comment-page-1/#comment-7241 Weekly Round-Up: Summer Olympics Edition | Green Panda Treehouse Sat, 09 Aug 2008 13:53:22 +0000 http://www.gatherlittlebylittle.com/?p=952#comment-7241 [...] You can’t save your way to prosperity. You can’t? [...] [...] You can’t save your way to prosperity. You can’t? [...]

]]> By: Curious Cat Investment Blog http://www.gatherlittlebylittle.com/2008/08/you-cant-save-your-way-to-prosperity-you-cant/comment-page-1/#comment-7240 Curious Cat Investment Blog Wed, 06 Aug 2008 00:57:32 +0000 http://www.gatherlittlebylittle.com/?p=952#comment-7240 That saying is wrong. That is how you get their. Either that or extreme luck or extreme talent at something that pays very well. By the way Stewart I think it is closer to the top 5% (for how much wealth they spend every year on necessities, niceties and toys). Many in the USA seem to think that <a href="http://curiouscatlinks.blogspot.com/2008/01/too-much-stuff.html" rel="nofollow">just because they can see some people that are wealthy fairly close to them they must be poor</a>. There are <a href="http://engineering.curiouscatblog.net/2006/02/23/water-and-electricity-for-all/" rel="nofollow">over a billion people that don't have reliable safe running water and reliable electricity</a>. That saying is wrong. That is how you get their. Either that or extreme luck or extreme talent at something that pays very well.

By the way Stewart I think it is closer to the top 5% (for how much wealth they spend every year on necessities, niceties and toys). Many in the USA seem to think that just because they can see some people that are wealthy fairly close to them they must be poor. There are over a billion people that don’t have reliable safe running water and reliable electricity.

]]> By: "Mo" Money http://www.gatherlittlebylittle.com/2008/08/you-cant-save-your-way-to-prosperity-you-cant/comment-page-1/#comment-7239 "Mo" Money Tue, 05 Aug 2008 15:42:44 +0000 http://www.gatherlittlebylittle.com/?p=952#comment-7239 You completely right about this. If must start with saving! You completely right about this. If must start with saving!

]]> By: Steward http://www.gatherlittlebylittle.com/2008/08/you-cant-save-your-way-to-prosperity-you-cant/comment-page-1/#comment-7238 Steward Tue, 05 Aug 2008 15:40:30 +0000 http://www.gatherlittlebylittle.com/?p=952#comment-7238 I think you can become prosperous (i.e. rich by American standards) by saving without having to invest ... ever. You just need to be a professional athlete who makes millions but lives like a typically comfortable middle class person like me. For those that make a middle class salary and want to to be prosperous (i.e. rich by American standards) then they have to invest. If we broaden the term prosperous to include the rest of the world then most Americans don't have to do anything to be prosperous because they already are within the top 25% of the world in terms of wealth - and I think the number is closer to 10%. I think you can become prosperous (i.e. rich by American standards) by saving without having to invest … ever. You just need to be a professional athlete who makes millions but lives like a typically comfortable middle class person like me. For those that make a middle class salary and want to to be prosperous (i.e. rich by American standards) then they have to invest.

If we broaden the term prosperous to include the rest of the world then most Americans don’t have to do anything to be prosperous because they already are within the top 25% of the world in terms of wealth – and I think the number is closer to 10%.

]]> By: Heather http://www.gatherlittlebylittle.com/2008/08/you-cant-save-your-way-to-prosperity-you-cant/comment-page-1/#comment-7237 Heather Tue, 05 Aug 2008 15:37:00 +0000 http://www.gatherlittlebylittle.com/?p=952#comment-7237 Another important thing that you covered is taking on a budget. I know this is covered by a lot of people and how to effectively manage your budget, however the reason why they do is because of how important it is. I can't tell you how many people that I have dealt with that keep catching that debt snowball. Put your money away. In some cases it is important to put your money in a safe place that you won't be tempted to touch. Obviously don't do this when you have problems paying off your debts in the first place. Another important thing that you covered is taking on a budget. I know this is covered by a lot of people and how to effectively manage your budget, however the reason why they do is because of how important it is. I can’t tell you how many people that I have dealt with that keep catching that debt snowball.

Put your money away. In some cases it is important to put your money in a safe place that you won’t be tempted to touch. Obviously don’t do this when you have problems paying off your debts in the first place.

]]> By: Spencer http://www.gatherlittlebylittle.com/2008/08/you-cant-save-your-way-to-prosperity-you-cant/comment-page-1/#comment-7236 Spencer Tue, 05 Aug 2008 13:11:34 +0000 http://www.gatherlittlebylittle.com/?p=952#comment-7236 You just touch on a very important point, the ability to take on risk. Risky investments have the best potential returns, but if you have not been saving, and don't have a solid foundation built, you will be in no position to take on that risk. One of the ironies of investing is that those who need the best returns (lower wealth investors) have the least ability to take on risk. Those that have already attained wealth have the ability to take on risk and great grow their wealth. It is important to build a solid foundation of savings so that you can comfortably take on riskier investments, such as stock market investing, leveraged real estate (any home with a mortgage), etc. You just touch on a very important point, the ability to take on risk. Risky investments have the best potential returns, but if you have not been saving, and don’t have a solid foundation built, you will be in no position to take on that risk.

One of the ironies of investing is that those who need the best returns (lower wealth investors) have the least ability to take on risk. Those that have already attained wealth have the ability to take on risk and great grow their wealth.

It is important to build a solid foundation of savings so that you can comfortably take on riskier investments, such as stock market investing, leveraged real estate (any home with a mortgage), etc.

]]> By: Emily http://www.gatherlittlebylittle.com/2008/08/you-cant-save-your-way-to-prosperity-you-cant/comment-page-1/#comment-7235 Emily Tue, 05 Aug 2008 12:17:43 +0000 http://www.gatherlittlebylittle.com/?p=952#comment-7235 I am with you. I think you can. And I intend to prove it :) I am with you. I think you can. And I intend to prove it :)

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