Insights From a Big Spender | The American Spectator

I am 80 years old. I have made a lot of mistakes. Almost all of them have to do with money. I’ve done some things right, too. But because I have been writing for The American Spectator most of my life, I would like to share with my readers a few of the bigger mistakes I have made. Almost all of them have to do with money. (RELATED: Moving on From Financial Trauma)

In the coming few months, I would like to tell you what my bigger mistakes have been:

They all come under the simple heading of spending too much. I can make it even simpler:

For many years, I earned a staggering amount of money. I also spent a staggering amount of money.

I got into the habit of spending as if my immense income would continue forever. It didn’t.

But luckily, I spent a big part of it on investments that did go up beautifully. When my income fell, these investments rose. I am going to go into that subject soon. But not tonight because I am desperately tired right now, and I am badly injured from serious spinal problems. These have also greatly hamstrung my ability to earn money.

I am grateful indeed to my father, Herbert Stein, for some tips about this area. I will share them with you because you, too, will someday be 80 and need his wisdom. But meanwhile, good night and good luck, as we Americans say.

READ MORE from Ben Stein:

Moving on From Financial Trauma

A Piece of Heaven on Earth

How I Spent My Wednesday