Re: Handling money.
I've always thought of money (wealth) as having certain defined uses.
Money that is dead money, it has been used to establish a base and so becomes untouchable. Purchasing a never to be disposed of house for example. Never sell your last house or raise a loan against it. Sell it to buy another outright but that's all and even then be very sure. Rent it out and buy a second is best by far. In short capital assets to be retained.
Money to be saved and added to. Some people might call this a nest egg.
Then money to be used to attract more money. Investments and trade for example.
Finally money available to be used - disposable income. Keep that to a minimum that will ensure a lifestyle that is comfortable.
By understanding the differences and focusing on them it's surprising how simple it becomes to do quite well. Then comes securing ones assets and investments to ensure that no erosion because of tax, devaluation and so on takes place.
That takes a bit of creative accounting and flexibility not to mention thinking outside of the box.
On paper we're boracic.
Pottles.
No houses of our own, no cars of our own, no income other than state age related benefit - and the same for my wife, if it weren't for my kids I don't know what we'd do!