Thursday, November 16, 2017
Think of the most frugal person you know. What percentage of their monthly "check" do they live on?
The best Mrs ERJ and I did before kids was to live on 55% and to bank 45% of our net.
What would you think of a man who lived on 4% of his gross?
What is doubly amazing is that his co-workers are notorious for splurging. He did not run with the herd.
When asked the secret of his savings he said the key was to identify several things that bring you joy and to not spend money on anything other than those joy-givers.
In his case "...the things I love the most in this world (reading math, doing research, playing chess) are very, very inexpensive."
This gentleman's name is John Urschel and he was paid very well to play a game.
He is currently going to MIT and is working toward a doctorate in Math. Frequent commenters Lucas and Guy will be pleased to learn that his home town is Winnipeg, Manitoba (Canada).
Hat-tip to Salamander