30 for 30 Broke

Tried to search for an all-purpose 30 for 30 thread or for this particular one and couldn't find it. It is 5 years old, but just watched it all the way through for the first time. In a way, it is mind boggling, but in a way it is typical. Have a buddy, who makes just about 80k a year, but has over 1 mil in the bank. We often talk a lot about people living above their means. It is a bit easier for him, he's 37, not married and doesn't have kids. But he always has saved money and doesn't buy things he can't afford. The 30 for 30 Broke is similar to the stories of people hitting the power ball and going broke in 10 years or less.

 

Herman Edwards is very good in this. Too bad not many guys listen to him. They show him speaking (think it's from the rookie symposium) where he tells guys 'you just need one car.' Bet he's been trying to tell guys that since he was coaching the Jets. Wonder how many listen to him.

 

Imagine how well-off you could be today if you had common sense at 22.

 

That’s bullshit. Only 1%ers get that privilege. A fool and his money are soon parted. But wealth gave them the luxury to plan like none of us have had. Those that squandered it get my sympathy but not my empathy.

 

I think most of us could have made better decisions with our early accumulation and been much more affluent today.