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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Elroy Jetson who wrote (13209)10/10/2004 8:36:43 AM
From: loantech  Read Replies (1) of 116555
 
Sounds tough but Paul's family should have salted away a very nice amount of savings during the good years. Making $120 K to 200K left plenty of room to bag up to 40K- 50K a year in savings.I would bet there were fancy new cars and SUV's, multiple vacations,goldf trips, dry cleaning bills, dinners out etc. etc. They easily averaged 80 to 100 K more than my family made and we have good savings. That is the problem here. People have no sense of being frugal or savings. Paul's family did not plan for a rainy day.
tom
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