Chapter 1 Update: Hocus Net Worth Numbers

Rob Bennett is paying for vanity-published books and articles in various newspapers and magazines. Here we will discuss these attempts to gain glory in the public eye.

Chapter 1 Update: Hocus Net Worth Numbers

Postby Schroeder » 12/03/06 at 15:15:34

Cross-posted from this thread . . .

http://www.s152957355.onlinehome.us/cgi ... 112472/1#1

JWR claims that hocus did not have his nest egg in 1996 . . .

Schroeder wrote:
92. John #89
bob90245| 12-02-06 | 01:07 PM

Rob did not have his nest egg in 1996. Most of his contributions were in later years.

I find it remarkable that Rob did not have a nest egg in 1996. So are you telling me that Rob accumulated his nest egg (I believe what Rob said it is $400K) mostly from contributions in the years from 1997 until he retired in 2000? Amazing.

<snip>

I wonder if JWR read the hoco-book. Here is what I reported in my Chapter 1 book review . . .

Schroeder wrote:From the section titled "$660,000 Worth of Motivation" . . .

At the end of 11 years of Sacrifice Saving, my wife and I had $35,000 of equity in our jointly owned townhome, and $5,000 in a joint checking account. That was our total net worth. In the 12 years in which we have been following the Passion Saving approach, we have paid off the mortgage on our home, which is worth $300,000, and accumulated an additional $400,000 in investment accounts. With the help of the enhanced motivation to save we picked up with this new approach to money management, we put close to $660,000 worth of change in our pockets in not much more than a decade's worth of effort.

If we had been pursuing the conventional saving goal during the last 12 years, the results obtained from our saving efforts would have mirrored those we achieved in the earlier 11-year time-period. We were earning more in the latter time-period, so we probably would have added more than $40,000 to our investment accounts during those years even had we stuck by the Sacrifice Saving model. But we would not have accumulated anything close to the amount of wealth that the shift to a more motivated saving effort provided us. Saving for short-term goals produces outstanding long-term results.

OK. So we see that hocus was motivated. But doing a little math, we can figure that if hocus was able to save $660,000 in a 12-year period, he was socking away $55,000 a year. This is a lot. At this point in the book, the reader doesn't know that hocus was earning a six figure salary during a good portion of that time. Another question to ask. If hocus wasn't saving that $55,000 a year, what would he have been spending it on instead? To borrow a hocus phrase, that would sure buy a lot of Fun Units. :lol:

Schroeder


And now hocus supplies more information in Diehards conversation 54920 . . .

**LINK**
102. VII Has Been Berry Berry Good to Me
hocus| 12-03-06 | 04:44 AM
are you telling me that Rob accumulated his nest egg (I believe what Rob said it is $400K) mostly from contributions in the years from 1997 until he retired in 2000? Amazing.

I had zero savings in 1992. I began following an approach that I call "Passion Saving" at that time. I accumulated enough to pay off my mortgage in full by early 1996.

I then had to make a decision where to put the large amount of money that was going into savings each month. For a short time, I had a small amount of stocks ...

<snip>

I took my money out of stocks a few months before Greenspan's Irrational Exuberance speech. In the years following that, I was saving large amounts of money ($88,000 in the last year before I turned in my resignation).

<snip>
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Re: Chapter 1 Update: Hocus Net Worth Numbers

Postby arrete » 12/03/06 at 18:07:42

Yah know?  Keeping all these lies straight is really fatiguing.  I suppose that's why hocus and JWR do it, but what's the real point of this constant lying from their point of view?  To keep people thinking they're a couple of trolls?  Or incompetent? Too late!  

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