Once again, we have another story about someone who was raised in a different time, with different values, with different notions about spending and saving from what more recent generations have harbored, who is able to survive just fine as a retired person for several decades after he hung up his work clothes once and for all.
McCracken has also touted avoidance of the stock market as a big part of his success (his investment of choice has principally been real estate), and while I don’t wholly agree with everything he suggests, including that, I don’t allow the differences to shift my focus away from the larger, very-valuable message: Work hard, save like crazy, and live in a way that allows you to save a large portion of what you earn to have available later when you can no longer work. We’ve heard the message before, but given that some consumers are starting to re-adopt some of their pre-economic collapse spending habits, it’s probably a message we cannot hear too often.
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Bob Yetman, Editor-at-Large at Christian Money.com (www.christianmoney.com), is an author of a variety of materials on personal finance and investing, as well as on topics of fitness and self defense, to include the book Investor's Passport to Hedge Fund Profits (John Wiley & Sons, Inc; www.investorspassport.com) and the unarmed combat training DVD Thunderstrikes - How to Develop One Shot, One Kill Striking Power (Paladin Press; www.mikereevesonline.com).