re: Who are the "Hidden Millionaires" in small towns

Most medical professionals have enormous education debt and it takes them a quite a while to become truly "wealthy" while paying off those hundreds of thousands of dollars.

Many of these hidden millionaires have old cars, second-hand clothes, glove boxes full of coupons and practice good grocery/kitchen management. It adds up y'all!

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This made me chuckle. There are plenty of people making that "real money" in the poorest counties in any state.

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When I was growing up, I considered 70K/year to be evidence of an excellent offense.

Now that I'm grown up, I feel like I'd be drowning if I only made 70K.

My dad's dad retired from DOW a millionaire. Started chartering saltwater fishing trips out of Houma for a while. Then got out of fishing and into shooting targets. Now lives in Thibodaux in a trailer, drives a little bitty truck. And spends all his time buying guns and shooting. Dude has lived the life for the last 20 years n still has plenty of money left. Guy did it right that's for sure.

He lives alone, is a retired millionaire. He doesn't need a huge house that will be empty. He has a nice plot of land, an arse load of guns, and is a millionaire. The thread is about "hidden millionaires". A 70 year old man living alone in a trailer along a bayou is as hidden as you can get. He lives the life. He could buy a massive house if he wanted to but what's the point?


For the last 20 years he has fished damn near daily, shoots his guns damn near daily, and is in no way shape or form anywhere near running out of money. That is a damn fine retirement for a down home guy who doesn't need to be all flashy and hey look at me.

It's people who own the businesses in the town. Hardware stores, restaurnats, other businesses.

Are they struggling because of commodity prices....or are they struggling because:

1.)bought a beach condo
2.)bought a partial interest in a hunting camp
3.)purchased the nicest truck the last 5 years
4.)purchased more land at way to high of a price
5.)leveraged up and bought way too much new equipment and toys

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I could name plenty in my area who are struggling mightily right now with commodities depressed like they are.

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They have a few in Ascension that are millionaires that you wouldn't guess it, however, some are dying and their kids are starting to inherit the money. These you can tell are new money with the big houses and flashy cars.
One guy my dad is friends with owns 100+ acres in the state and the land makes him a millionaire. However, once he does it is split 4 ways and his kids will blow it.

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the boring home life of penny pinching

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Now that's where you're wrong. The people who are best at accumulating wealth get as much or more satisfaction from saving money than from spending it.

1, 2, 3, and 5 are all certainly contributing. 4 was more a problem of the '70s/'80s crash (at least in my area).

I'm certainly not defending them. Just saying that many weren't living too high on the hog right now.

It's hard to be too mad at anyone for trying to reinvest/leverage the business such as in 4 and 5, but it certainly takes a bit more foresight as to future market trends than was shown.

Set aside as much as you can afford from each check. Make no excuses and start as soon as you can. Let smart ethical people invest it for you. The millionaire status you envy will come regardless of where you live.