Gorilla & King Investing

[Inho Kim]

I read something similar in Fortune sometimes ago. I was very surprised at a couple who had a million but makes less money than my family. Somewhat forty to fifty thousand dollars at that time. Anyhow they saved money in every way. Mike Burke's gangs call it "cheap" I was very impressed what the couple did. I don't know I live in Bay Area and many things cost too much. Gas price in Pleasanton is 20 cents higher than other areas. A little less than S.F. My workplace is not far from here so price a little less around my workplace.

Also, another thing is to persuade my wife. If the "Millionair Next Door" is Bible, I bet my wife will read in Korean version but in English, heck no. She is not a spender but not much pays attention to wait for sales or turn off lights, etc. I am the one who replaced regular bulbs with fluorescent bulbs (Costco selling them with PG&E rebate at $7 for 5 bulbs), lowered waterheater temp, bought my daughter's elementary workbooks through Barnes&Nobles, etc. B&N gives free shipping if ordered more than two. That is hard part. I hope my children, who are two young now, learn from me not her for living in "cheap" ways-g-.

"Spending less than they make" is really important. Couple of years ago S.F. Chronicle articles run a story that a couple who made over 150,000 were in bankruptcy. Even they didn't own a house. Surprising.

p.s. I read couple of posts in Burke board that a few pulic pension funds of cities or counties are in deep trouble due to this down market. They must invest a lot in high tech. That means we cannot trust the pension funds too.

p.s.s. I hope my father had gave the book like you did. that is wishful thinking. But I don't blame him. I am very grateful that my father struggled to make end meets for his life but due to his sacrifice and devotion to children's education, we are now much better off.

Here Galbraith article about "THE WAR ECONOMY"

http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=16468956