3 ms·

Shouldn't you be financially independent after a lifetime of working at above average professional wages?

by peterjancelis 13y ago

JanezStupar 13y ago
Expensive habits are easy to acquire and hard to get rid of.
- sejje 13y ago
  And a mistake to continue if you can't afford them. So, yes; he should be financially independent by now.
- talmand 13y ago
  Life itself can be expensive depending upon individual circumstances. There's no need to assume it was all to waste without knowing the details.
- jroseattle 13y ago
  Ever been personally sued? Had medical bills beyond health insurance? Had a 401k or maybe a conservative investment go bankrupt? There are many ways that one can be subjected to harsh financial realities.
2mur 13y ago
They mentioned that he is divorced. Depending on how the judgements/settlements fall out, it can be pretty disastrous for your finances.
- greenyoda 13y ago
  And he could have had kids, which are expensive to raise and send through college.
  - VladRussian2 13y ago
    from previous article in 2009: http://www.nytimes.com/2009/08/30/fashion/30genb.html?pagewanted=all http://www.nytimes.com/2009/08/30/fashion/30genb.html?pagewa... MICHAEL BLATTMAN, 58, took a prudent path to a successful business career. Armed with an M.B.A., he started with the federal government, working at the General Accounting Office and Federal Reserve, before moving to the Sallie Mae student loan program, where he rose to be director of national sales. From 2001 to 2008 he was a senior vice president for a private student-loan company and at his high point earned $225,000 a year in salary and bonuses, he says. He also taught business courses at the University of Maryland; lived in a 4,000-square-foot home in upscale Potomac, Md., and drove a Mercedes. And then, in short order, this stable life came undone. When his younger of two children was almost ready for college, Mr. Blattman asked his wife of 25 years for a divorce. “We’d just grown apart, we had a different opinion on mostly everything,” he says. “Life is short — you got to do what makes you happy.” Since he worked out of his home, he could live anywhere, and decided Florida would be the place to start over. ...
rhizome 13y ago
Moralizing doesn't help, nor does it add to the conversation. http://en.wikipedia.org/wiki/Is%E2%80%93ought_problem http://en.wikipedia.org/wiki/Is%E2%80%93ought_problem
a3n 13y ago
Yes you should. Now ... what if you're not?
cko 13y ago
That was my first thought while reading this - and not only is he a business major - he teaches it. I guess it's difficult to apply knowledge to one's own life. I know people who work in banks who have credit card debt.

Shouldn't you be financially independent after a lifetime of working at above average professional wages?

JanezStupar 13y ago

Expensive habits are easy to acquire and hard to get rid of.

sejje 13y ago
And a mistake to continue if you can't afford them. So, yes; he should be financially independent by now.
talmand 13y ago
Life itself can be expensive depending upon individual circumstances. There's no need to assume it was all to waste without knowing the details.
jroseattle 13y ago
Ever been personally sued? Had medical bills beyond health insurance? Had a 401k or maybe a conservative investment go bankrupt? There are many ways that one can be subjected to harsh financial realities.

2mur 13y ago

They mentioned that he is divorced. Depending on how the judgements/settlements fall out, it can be pretty disastrous for your finances.

greenyoda 13y ago
And he could have had kids, which are expensive to raise and send through college.
- VladRussian2 13y ago
  from previous article in 2009: http://www.nytimes.com/2009/08/30/fashion/30genb.html?pagewanted=all http://www.nytimes.com/2009/08/30/fashion/30genb.html?pagewa... MICHAEL BLATTMAN, 58, took a prudent path to a successful business career. Armed with an M.B.A., he started with the federal government, working at the General Accounting Office and Federal Reserve, before moving to the Sallie Mae student loan program, where he rose to be director of national sales. From 2001 to 2008 he was a senior vice president for a private student-loan company and at his high point earned $225,000 a year in salary and bonuses, he says. He also taught business courses at the University of Maryland; lived in a 4,000-square-foot home in upscale Potomac, Md., and drove a Mercedes. And then, in short order, this stable life came undone. When his younger of two children was almost ready for college, Mr. Blattman asked his wife of 25 years for a divorce. “We’d just grown apart, we had a different opinion on mostly everything,” he says. “Life is short — you got to do what makes you happy.” Since he worked out of his home, he could live anywhere, and decided Florida would be the place to start over. ...

rhizome 13y ago

Moralizing doesn't help, nor does it add to the conversation. http://en.wikipedia.org/wiki/Is%E2%80%93ought_problem http://en.wikipedia.org/wiki/Is%E2%80%93ought_problem

a3n 13y ago

Yes you should. Now ... what if you're not?

cko 13y ago

That was my first thought while reading this - and not only is he a business major - he teaches it. I guess it's difficult to apply knowledge to one's own life. I know people who work in banks who have credit card debt.