lizap
TUG Member
It is sad. Whether one has savings or not is dependent on so many factors, opportunities to make more money than from hand to mouth, life's fortunes/mis-fortunes, wisdom, inherently a saver or a spender...
I did lose alot of money in the 2000 dot.com cash, so much that it is embarrassing, with something called margin loans. I recovered and never gambled again. I told my financial advisor the story and I said easy come easy go as I used to make a lot of money. He cringed and said I could have been retired a long time ago.. I hunkered down, kept working and while I am not rich, here I am and retired. So when I said I am terrified of debt, that is from real scars.
We made a huge mistake by sending our daughter to an expensive private school. Her schooling did no good. She has a Masters degree in the medical field and doesn't want to work. Problem is her husband is out of work and they have two kids.