Personal Finance (Not Investing) • What got you out of poverty?

I grew up lower-middle class and my wife similar. My mom dropped out of HS in the 12th grade. My dad came from a farm family and was the 2nd oldest of 9 kids. He graduated HS and turned 18 and got a draft notice for Vietnam, all in the same week. He joined the navy and gave Uncle Sam 4.5 years of his life, but it kept him out of the jungle, which may/may not mean that I might not now be here today. Met my mom shortly after getting out of the service and I was born about 15 months later. Both worked factory jobs, so steady incomes. He went to night school and got an associates degree in business and sold insurance for a while, making really good money for the late 70's into the early 80's. The fear of a steady paycheck, he went into another sales job. With 3 kids, money was tight as my mom stayed at home after child #3 until she went back to work. I was able to attend private schools until 6th grade, but had good success in public schools afterwards. I had my first job at 12 and have worked steadily since. I wanted stuff my parents could not provide, so I bought my own clothes, car, etc growing up. Went to college and got all my degrees done in 9 year period. Met my future wife in HS and we married in college and had our first kid 5 years after that. Had debt after college for both of us and not high paying jobs. Steadily put money towards our debt, bought a house, had a 2nd kid and steadily moved up the chain at our jobs. We were always averse to debt and did our best not to have any while still investing what we could. Education, drive, like minded spouse, boglehead lifestyle, and living below our means (along with some luck and hard work) we have done pretty good. In our early 50's now and pushing both kids out on their own with no college debt all while super saving over the next 10 years will provide a nice retirement in our early 60's. As we became empty nesters this year, we have found each other again and can smile over where we were, where we came from, how our kids didn't have the same struggles we had at their ages and how lucky we were to find each other.

Statistics: Posted by Nebraska_Drought — Tue Feb 27, 2024 3:53 pm — Replies 93 — Views 7460

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