The snowbird crowd is ageing

TomG2 wrote:
I am noticing some arrogance being shown by the "haves" as opposed to the "have nots" on here. Reality is that a large percentage of the blowhards in our park either married or inherited their wealth. Job opportunities or the economy in general can make a genius out of the biggest fool or a loser out of some hard working Joe. I made a career choice to line up at the government hog trough, and in less than ten years, I have already received four times what I invested. Beat that investment if you can. Fully paid insurance too, since I retired at 59.

The arrogance being shown is by those who somehow feel anyone who succeeds got lucky. A "large percentage" got their wealth either by inheritance or marriage is almost assuredly a false statement. Basic research will show that approximately 85% of all millionaires are self made and only 15% of millionaires inherited their wealth. Solid savings and investment plans along with a defined career path is what most often leads to financial success. Yes, home ownership is a big part of that. Buy a home, finance it on a 15 year mortgage and in 15 years you will have a large asset. Pay for an RV over 15 years and you will have next to nothing. Invest $500 a month at 5% for 30 years instead of having a car payment or a boat payment and you will have nearly $500,000 in the bank instead of an old boat and car. Wealth and financial security is really about choices and planning and not about luck.