{ "media_type": "text", "post_content": "I found out today that my mid-70s mother converted the $40K or so she got when she and my dad divorced in the 90s to a net worth of almost $1M today. She got a little bit of money when my grandparents died, but she essentially did it on her own with some savvy investments and living very frugally (she was a SAHM and never had a paying job). My dad was TERRIBLE with money, so I’m especially proud of her for figuring out how to come out ahead. I told her she needs to write a book. Go Mom!", "post_id": "608e206cfd17020020df4306", "reply_count": 15, "vote_count": 302, "bowl_id": "59e88be7e2808e00149b0443", "bowl_name": "Women In Consulting", "feed_type": "bowl" }
null

I found out today that my mid-70s mother converted the $40K or so she got when she and my dad divorced in the 90s to a net worth of almost $1M today. She got a little bit of money when my grandparents died, but she essentially did it on her own with some savvy investments and living very frugally (she was a SAHM and never had a paying job). My dad was TERRIBLE with money, so I’m especially proud of her for figuring out how to come out ahead. I told her she needs to write a book. Go Mom!

likeupliftingsmarthelpful
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Amazing. Pls tell her to share investment tips!

likehelpful

I'd like to know too

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I’m asked her for her investment tips and they were essentially “invest in S&P and then forget about it,” which is not all that creative (though I do appreciate that she believes time in market is more important than timing the market). She bought bonds when interest rates were high and avoided them when cash was cheap.

She didn’t get into speculative real estate, though she bought a small place near a university, so there has always been a steady and consistent buyer’s market for her townhouse. It’s gone up about 400% in value.

I’m not sure if she realizes it, but the main thing she did was control her spending. She is by far the most frugal person I know. She’s not cheap, but she doesn’t waste a cent. She lives in a tiny place, with only the essentials. She lives in town (vs the suburbs) and her main entertainment is being in nature (ie public parks) and taking advantage of free activities (like public concerts). She rarely uses her car, as she can bike or walk almost anywhere. She takes advantage of her library. She never, ever pays full price for clothing and she knows every discount clothing retailer and shops eBay and consignment. What she does buy lasts forever - she wears a lot of Patagonia, which holds up and holds its value (when she wants to consign it). She is in pretty good shape, so her 20 year old clothes still fit and she hasn’t had to spend much money on healthcare. When I take her out to eat, she rarely finishes her plate, so she takes food home for the next day.

My mom does appreciate nice things, but she really appreciates living a life without worry and her frugal life enables her to have that.

likesmartuplifting

I'm doing exactly the same type of things as your mom. As frugal as hell lol

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Frugal living tip #1... don't buy your coffee outside everyday. (This is mostly in a pre and post pandemic era). And it never needs ("wants" is diff) to be a large size. Maybe treat yourself to it 1×/2× a week. Frugal + healthy + climate conscious.

likefunny

Happy for her! Share any applicable tips please

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Good for her! 🎉🍾

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Dayum go momma! Please share her investment and frugal living tips and tricks

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This is amazing 🤩

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Good for her!! I hope she enjoys it!!!

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Wow! Impressive!!! You go mom
Would love to hear her investment approach and insights! I would suggest her to share her knowledge and empower other women, she can write and also get a YouTube channel ✨

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I would looove to hear her tips if she has any!!

Woo that’s awesome for her!

Go mom!

This is amazing!! Agree - would love to read that book — and maybe before that you could bring her on here to do an evening chat!

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