![]() I wrote an introduction and accounted for our activities and daily expenses as we traveled to our second home and had some family fun for a week in northern Michigan. Truthfully, we were already passively tracking our spending via Empower, which automatically compiles our credit card and checking account expenditures, but for the purposes of the article, I paid a little closer attention, making sure every purchase down to $1.62 for rock-candy-on-a-stick was on the ledger. My offer to record and relate my own spending habits was accepted on a Thursday and we started our week of detailed tracking the following Monday. The article also sent a number of new readers to his blog that fact helps answer the question of “why write about it?” but that’s just part of the answer, as I will elaborate below.Īt his suggestion, I reached out to the editors of Business Insider and offered to write my own article for their Real Money series that also featured a mutual friend Brandon (the Mad Fientist), Jerry (the Peerless Money Mentor) and several other men and women in various places and professions. John sent me a message and told me his article reached quite a few people, and other than a number of people being concerned about his fast-food intake that week, the article was well-received. Everyday people with above-average salaries and pretty average spending. But there are also rich people who live like everyday people. There are people like that, and they’ve got more than a few million dollars or at least they’d better or they’ll run out of money right quick. When most Americans think of rich people, they picture a life filled with designer clothing, pimped-out rides and cribs, private jets, and house staff to attend to every need. Those headline writers know how to grab people’s attention!Įxpecting to see how much it costs to get a Lamborghini detailed or the going rate of caviar-stuffed truffles, readers were treated to the costs associated with a man who goes to the neighborhood gym most days, picks up the occasional Chick-Fil-A or pizza slice, and travels with his daughter to drop her off for college. Why? Well, the headline for his article, written by the people who write headlines for national media outlets, states that he retired in his early fifties with a net worth of $3 Million. Many people were interested to see how John spends his money. This daily ledger wasn’t his idea, but rather that of a national media outlet that likes to portray the typical spending patterns from people of many different walks of life. My friend John wrote an article detailing his spending for one random week in his life. Business Retirement Account Specialists.
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