Yeah. Back in the '70’s 100,000 miles was a good run. Today, it’s broke in. Engine tolerances have change a great deal.
It probably didn’t help that he was a teen in Detroit in the 70s, going to school with spawn of auto execs - I’m sure he “learned” lots of stuff from them…
Michael Jackson was basically living under the thumb of debtors. He didn’t own his own home and needed to keep paying back loans to be allowed to stay there. But, at any time, he could just run an event at pretty much any arena and pull in millions of dollars in a single night.
So, really, to an extent there’s never a point where - if you’re bad enough with money - you can’t outspend what you’re pulling in.
The more you’re keeping track of your pennies, the less likely you’re going to be that person.
It’s more about the attention than the actual number.
When my wife and I became debt free, no house or car payment. The payment amounts (mostly) were still taken out and put into an emergency fund then after that we continue to put it into savings and CDs when they have a good rate special. Still living like we have payments but if I or my wife sees something we like we don’t have to 2nd guess if we can afford it, within reason. With my vehicle going on 10 years old I will probably get a new one soon and have a car payment, but the house payment was the big one, 30 year loan and paid off in 20.
Back in the olden days, when I wrote a lot of checks, I never balanced my checkbook. I always had a vague idea of what was in my account. In retrospect, it’s a wonder it didn’t cause any more problems than it did. Maybe it’s because I never had that much money in there to begin with.
There was a saying that Michael Jackson was a multi-millionaire who spent like a billionaire.
When he died, he was 500 million in debt. Now that he isn’t spending everything, his estate is worth 2 billion now.
Supposedly he was spending 50+ million a year. Now granted that would bankrupt someone worth 500 million.
But if you have 10+ billion dollars, then 50 million a year is not a big deal. Thats 0.5% of your net worth a year. But if MJ had that kind of money, he would’ve spent 500 million a year I’m sure.