Owned first home in 1966.
WAS making about $6 + an hour. Used Inheritance of $5,000 to buy home.
Owned my own car.
DID NOT OWN STOCKS
DIS NOT HAVE A “RETIREMENT ACCOUNT”.
Had that home 29 years.
Bought next home on rural acreage out of foreclosure.
Cleaned it up, fenced, etc.
Sold it 16 years later with enough profit to buy this property for CASH...free & clear.
NO STOCKS OWNED
NO RETIREMENT ACCOUNTS-—just Soc Sec.
BUT have OLD IRON & NO CAR PAYMENTS
Have retired life style-—
NO medical issues that I am aware of-—and do NOT ‘go to doctors’ to look for such.
IF my INHERITANCE of $5,000 is considered wealthy-—so be it.
BUT the last car I bought was USED—and my last car payment was 1981.
NOT ego-driven enough to want NEW CAR/TRUCK. Car & truck I have are just fine.
IF average car turnover is 5 years-—then I have SKIPPED 8 such cycles & all those costs.
Also skipped the high costs of registration/ insurance/ repairs and DEALER ONLY repairs.
That ALL represents ALOT OF MONEY.
NO CELL PHONE/NO PAY TV/NO CONCERTS/ NO EATING OUT/NO FANCY CLOTHES/ NO JEWELRY, etc.
Someone a couple of years ago told me “I WAS RICH” because I owned my property.
THEY ARE CLUELESS about spending $$$$$$$.