How Much do we Really Need?

How much do we really need to feel that we are in control, sleep well at night, feel that life is great and continue to invest with a sense of confidence?

This is a personal question which every individual has to answer for himself. Many years ago I determined for myself that twelve units as apartments or site-built homes without debt would provide an adequate basic income, or one for future retirement sustenance. I viewed these twelve units like an emergency fund, never to be mortgaged or intermingled with any other asset. Probably through the influence of my father, I considered other organized pension programs as well as life insurance, not to be investments because they were beyond my control. I haven

Nice summary Berndt.

It has been 81+ years since the crash of 1929 and 66 years since the end of WWII. Few of us have direct or even indirect experience with living severe personal AND national financial insecurity. We have lived on the premise that, for the most part, jobs will be there, some kind of food will be on the table, mortgages, credit and national security will be there. As you have previously alluded to or said, this may have given us a false sense of security.

But to be fair, the majority of us had no other EXPERIENCE to suggest approaching life with a different paradigm. I have been lulled by the general financial “success” of this country. As a previously under-informed citizen, I assumed all will continue to skyrocket, despite its ups and downs.

I am excited for these times as I believe we are in for an economic correction AND a mindset correction, a paradigm shift. Ultimately this will be good for the country and “if it doesn’t kill us, it will make us stronger”. We have swung from no-credit/all-savings to no-savings/all-credit economy. Although I cannot disagree that a no-credit policy is far stronger than an all-credit policy, I have said before CAREFUL management of SOME credit may be the happy medium we will finally land upon.

If no one else is paying attention at this time, at least I am, thanks to your stirring my brain from its complacency.

Good times are ahead,


Post Edited (04-14-11 20:43)

Hi Rick,

Good to hear from you again. I am sure that your Idaho holdings were purchased with the same business acumen as was Burlington. What I know about the Burlington terms, it would still today be a steal even without its latent expansion potential. I salute you. Both places, I expect, have a great future with your management. For myself, I had my fill of flying to my distant assets. In fact, I