Anybody grow up poor but became rich?

**LionMane402** · 05-03-2012, 05:19 PM

When I was growing up, a luxury item was a Burger King whopper. That was like filet mignon to us. I always fantasized about getting rich but I'm not there yet.

Was wondering what the other side was like, especially if you grew up poor. Was it everything you thought it would be and more? Or was it a bit of a letdown? Also, what do you do for a living?

And for those who ask what my definition of rich is - it's not worrying about paying all the bills and eating out every night without looking at the prices. Can't give a number because it'll differ according to cost of living.

**hueytaxi** · 05-03-2012, 05:25 PM

Grew up very poor. Of course, compared to my friends, I didn't know it. Never made a lot of money in life but got by most of the time. About 2005 I bought a camera and joined MTS. Money can't buy what I got for my investment; rich can be joy and friendship.

**ROMAD1** · 05-03-2012, 06:30 PM

The only way to measure wealth is autonomy. If you are a slave to a boss or an organization, you might have enough scratch to pay the bills but you may be miserable.

**Antrat** · 05-03-2012, 06:42 PM

Nobody makes as much as Bono of U2.
This is known.

**NeedMoreLike84** · 05-03-2012, 08:19 PM

I don't think he asked for your philosophy on what truly matters in life.

I actually grew up pretty comfortable. My dad did pretty well. I make far less than he did at this point in his life but we get by. I pride myself on not asking for "help."

**NeedMoreLike84** · 05-03-2012, 08:28 PM

I will also add my dad was really naturally talented in his field. So people paid him. He also left work religiously at 5 eveyr day to spend time with us, put a huge chunk of money away and lived on like 1/2 of what he made. We had nice things. But we never had a giant house or drove BMW's and I never got everything I wanted just because we could. He didn't want people to feel uncomfortable coming over to our house or driving with us. He is the most well-liked guy I know because he was generous and never made friends based on income.

I guess what I am saying is, if you do become rich. Be like my dad.

**Motor City Sonics** · 05-03-2012, 08:41 PM

My dad and mom both grew up really poor. I grew up in Sterling Heights (mostly), which is the absolute definition of middle class suburb. Now I am pretty poor - but have a new job and will hopefully just be poor in a year or two. I don't have any kids to raise - and I don't need much, so I can deal with it.

**NeedMoreLike84** · 05-03-2012, 08:47 PM

Originally Posted by Motor City Sonics

My dad and mom both grew up really poor. I grew up in Sterling Heights (mostly), which is the absolute definition of middle class suburb. Now I am pretty poor - but have a new job and will hopefully just be poor in a year or two. I don't have any kids to raise - and I don't need much, so I can deal with it.

Another radio gig?

**Auburndale Ray** · 05-03-2012, 08:56 PM

My father was a research chemist for a couple of big tire manufacturers...
My mother was a machine designer for a large machine manufacturer in Detroit...
So, with both incomes, we had no financial problems...
But, after high school, I went to college on my own, with scholarships and working...
And I was poor for a while during college and a year or so after college...
I am not rich now, but all bills are paid and I can live comfortably...
Ho-Hum...

**hueytaxi** · 05-04-2012, 12:20 AM

Originally Posted by NeedMoreLike84

I don't think he asked for your philosophy on what truly matters in life.

I actually grew up pretty comfortable. My dad did pretty well. I make far less than he did at this point in his life but we get by. I pride myself on not asking for "help."

Agreed, but once posted, we can't control what direction the opening statement/query heads.

**John_Brian_K** · 05-04-2012, 09:30 AM

Again it depends on what you mean by poor? You have 8 posts in you and are already asking some deep questions. From LA? Curious what your story is before I share mine.

**T&P_Fan** · 05-04-2012, 10:55 AM

Originally Posted by John_Brian_K

Again it depends on what you mean by poor? You have 8 posts in you and are already asking some deep questions. From LA? Curious what your story is before I share mine.

Just go with it JBK!

I grew up in a poorer house, both parents worked extremely hard. They owned their own restaurant, but with 3 kids, in a small town, it wasn't a luxury life at all. Paid my own way through college (with loans obviously) and became the first in my family to graduate college. Had so much fun I went back for my Masters. Now I have a good career, and at 26, live pretty comfortably, all the bills are paid, I can vacation if I want. Am I rich? Not even close, but I can afford a nice bottle of Jack Daniels on the weekends and strippers when I go to Vegas. What else do I need?

Oh and I have a job with a boss, and it aint bad.

**Antrat** · 05-04-2012, 11:26 AM

I would be rich if not for several thieving casinos along the east coast.
Rat bastards.

**apabruce** · 05-04-2012, 11:37 AM

We were never poor, but in terms of material things, I have much, much more than my parents could have afforded. Our family got along with a single income (my dad worked the 3-11 shift at Davis Stamping in Detroit), a single car, and a house with a single bathroom.

I agree with ROMAD1, money buys you autonomy. So, I retired at 54, and can have any gadget I want without worrying about cost. I have no debt. But, no limousine, no personal servants. The most expensive thing I can't afford, but would like to have, is private medical care. When you're on Medicare, you can't choose between a Cadillac plan and a Ford plan. We all get Fords.

**LionMane402** · 05-04-2012, 12:34 PM

Thanks for the responses guys.

That's interesting what a couple posters said about autonomy. I never thought about it that way but you make a good point. I guess I still have a "poor" mindset where my definition of rich is having a good job and paying the bills.

I guess for those of you who aren't rich yet but substantially better off, I guess life is better? Never really got an answer for that.

I grew up dirt poor but consider myself lower middle class. It's a little better but not by much to be honest. Wondering if life will get better with more money...

**LionMane402** · 05-04-2012, 12:36 PM

Originally Posted by apabruce

We were never poor, but in terms of material things, I have much, much more than my parents could have afforded. Our family got along with a single income (my dad worked the 3-11 shift at Davis Stamping in Detroit), a single car, and a house with a single bathroom.

I agree with ROMAD1, money buys you autonomy. So, I retired at 54, and can have any gadget I want without worrying about cost. I have no debt. But, no limousine, no personal servants. The most expensive thing I can't afford, but would like to have, is private medical care. When you're on Medicare, you can't choose between a Cadillac plan and a Ford plan. We all get Fords.

Damn you're my hero! That's what I want to do, retire early and be in your situation. I feel you on the health costs. That's always a big expense. Healthcare is a mess now but keep exercising and eating right until you hit Medicare and then get some supplemental and you should be fine.

If you don't mind me asking, how were you able to retire so early? Did you invest early or did you sell a business? Or real estate investments?

**apabruce** · 05-04-2012, 01:01 PM

Originally Posted by LionMane402

If you don't mind me asking, how were you able to retire so early? Did you invest early or did you sell a business? Or real estate investments?

I sold a business. But, this is also an income choice. Had I worked longer I would have more money now, but we decided we had enough and independence was more important. I've had 12 good years of retirement and I'm still only 66.

The cliche about "you can't buy health" is true. I've had a couple of non life threatening, but painful conditions that were hard to treat. Having money in the bank didn't help.* You can exercise and take good care of yourself, but you also need a bit of luck.

* Except that I didn't have to worry about paying bills. So, I guess it did help.

**ROMAD1** · 05-04-2012, 02:06 PM

I just realized how cold blooded the money=autonomy thing is...

We are supposed to be rich in our friendships...well.

**Auburndale Ray** · 05-04-2012, 02:37 PM

Originally Posted by ROMAD1

I just realized how cold blooded the money=autonomy thing is...

We are supposed to be rich in our friendships...well.

So...Does it really take a village...

**hueytaxi** · 05-04-2012, 04:22 PM

Another issue on retirement early is losing a job at 55. No major employer really wants you on their health plan. Finding a position near your old status is difficult. In my case with citrus seasonal, I faced six months before the possibility of rejoining a career that I was experienced in. We looked at our investments and decided we could afford my retirement if we were careful with expenses.

**Mehm** · 05-04-2012, 04:31 PM

With everything else being equal, having more money beats having less money every time.

**lordstanley** · 05-04-2012, 09:03 PM

Not poor growing up, not rich now. But being the son of a factory worker who was at the whim of one employer for livelihood, I knew from pretty early on that I wanted control over my own destiny. Haven't had an employer since 1995. I have had my own firm since then (with a partner the past 7 years) and while that's not always easy, with a whole bunch of wildcards like accounts receivable and finding/satisfying/keeping clients, I find it hard to imagine me ever again working for one boss. For the most part I still have working class (not poor) tastes, and that has helped me have a fully paid off mortgage and be debt-free (not rich), as I was never really tempted by conspicuous consumption or keeping up with the Joneses.

**ROMAD1** · 05-04-2012, 10:09 PM

Originally Posted by Auburndale Ray

So...Does it really take a village...

when its The Villages?

I'm the case study for what happens when one's parents couldn't tell their kids no when they came calling for legal help, drug treatments. Each and every time the parents need money now...they come to me.

**G.Reaper** · 05-10-2012, 01:37 PM

I grew up in Royal Oak, my parents bought a new house (1953) for $9,000 and my Dad worked very hard to make ends meet. I was born in 1954, and Mom stayed home until I was in Highschool, she then got a lunch lady job at my former elementarty school. Not a lot of extra money, but some.
We lived comfortably, no AC, no colored TV, one car. Not enough money for college, did not get a scholarship to any school I wanted to go to, although did have quite a few offers and some full rides for basketball. Off to work I go to...
Needless to say, some 35 years later, sold the parents house before the crash for $175,000, sold my in-laws house for $75,000 and sold our house for $125,000. Hoped to retire before the market crash at 59 1/2, looking more like 62 now. We purchased our dream home 4 years ago and should have it paid off in 5 years. Life is good, wish my parents could see me now. They taught me the meaning of saving all you can and living within your means. I owe all I have to them and their work ethic. People I grew up with are pretty amazed that I have all I have without a day of college, it is all from hard work that I learned at an early age, and of course good DNA which I also can thank them for.

**hueytaxi** · 05-10-2012, 03:01 PM

A play off G.Reaper's story......when we finally forced my mother to come live with us, she felt she could not help to pull her weight in expenses. I had already promised to keep her car and home as her assets for her. She and my step father had only paid $13,000 for the little 2 bdr CB house near St. Augustine in the '60's. She lamented all she had was her Social security check now. So I had her home appraised for her and demonstrated her assets were worth at least $250.000. She was overcome.