I have always lived frugally and saved my money. I have invested it conservatively(what else?) and now, a few months away from my 60th birthday, I am in good shape. It's true I am down a bit from a year ago but only about 15% and I can live with that.
Of course this just means that I am a target of opportunity for the Obamanauts because I am an evil rich white guy but I also invested in lead so I may not be as easy a target as they think.
I did the same as you, but I’m still broke. In the first place I got married :) In the second, I’ve realised that the fruits of being frugal and thrifty is that the government just takes it off you in taxes to fund the negligent and the reckless. I paid off my mortgage last year (I’m 48 now) and what happens? Interest rates plummet, which means my savings are getting no interest and I dont make any savings on mortgage payments being lower, because I’ve paid them off.
Why save and be thrifty? What incentives are there? Not many, and they are easily overwhelmed by the incentives to spend spend spend. It’s ridiculous. Worse, it’s economically suicidal.