Not near me, I keep looking, because I would easily qualify for one of those. We are closing in on 40K and can put away an additional 25K/yr. Just sitting in shitty savings accounts because it isn't even worth it to move to CDs.
Just spend it all on GOOG. They'll take over the world one day.
Well, nothing's guaranteed, nobody is going to argue that. But it has happened for the last hundred years, I'm not too worried that it won't continue.That's fine if I want to time travel back 30 years and invest but I have my doubts that people investing today will see the same ruturns in 30 years.
I wish I had money when that happened, but I was in college. I followed stocks casually then and I absolutely would have bought a bunch if I had the money.I'm kicking myself. Back when the market tanked I had $5K to invest. I ended up putting it on Royal Caribbean (which did really well), but I was between that and Ford. Ford was at around $1/share at the time. It makes me want to cry every time I see the trading price of F these days.
wha??? i'm in my mid 20's and i have $40k in my 401k.
By making responsible choices. My wife and I bought a house that was less than half of what the bank approved us for. Both of us worked to pay our way through school, and ended up with a combined $18K in student loans over 2 undergraduate and 2 masters degrees. We have no car payment. We live on 1 of our 2 salaries. We are waiting to have kids until we are financially ready.
The only people in financial hardship I have sympathy for are the people who got hosed by medical expenses.
Dang, that is some expensive school. Glad your financial responsibility has paid off for you guys, though.Had an opportunity to change jobs in 2008 with a 50% pay increase along with a pension. At 43 I was ready to jump at the chance. Now with the added income we are able to keep both our kids in private school ( to the tune if 18k/yr) and still save money at a respectable rate.
Dang, that is some expensive school. Glad your financial responsibility has paid off for you guys, though.
Unrelated, but I think I'm going to increase my 401k contribution from 8% to 10% (6% match, unchanged). The difference should hardly be noticeable in my paychecks and it's good that I do it early...I'll never move it down.
I don't really see how anything he said was lucky. He got a job with a 50% raise because he had experience in w/e it is he does and because he was underpaid from not taking raises for several years.That's more getting lucky than financial responsibility.
Even on the starting career path many want to be doctors but have to pick something else because although they score hit and had the grades they simply couldn't get into the schools that would work for them.
Someone can be entirely financially responsible on $30-40k per year, but they will not be sending their kids to a $18k/year school.
It's sad when those are confusing social class with responsibility.
I don't really see how anything he said was lucky. He got a job with a 50% raise because he had experience in w/e it is he does and because he was underpaid from not taking raises for several years.
No, there was absolutely no luck involved. I chose to follow a path of fiscal responsibility when it came to my marriage ( waiting a few years longer than we wanted, so we could save money for a wedding and then a house) then when it came to my children, we waited 9 years before we procreated. I wanted my wife to finish her education and kids would not have allowed it. My current job was recruiting me for at least 5 years to come over and I refused until my daughter was in kindergarten because we did not want the expense of daycare to burden us plus spending all of that extra time with them is something you cannot ever get back and I absolutely loved every minute of seeing my kids grow up. Again fiscal responsibility. Granted, my kids have always been in private school, so it is like paying daycare anyway, but I have forsaken the big house/big lifestyle to keep up with the Joneses bullshit so I can give my kids the best opportunity I can, as well as being able to still afford a vacation or a cruise every year. We also have about 125k miles on our vehicles with no plan on upgrading anytime soon. So like I said, no luck just a sane and sober plan with goals that are actually attainable.
If you are married, I guess a lot depends on whether or not you and your partner are on the same page, I have a few friends who got divorced over money. Couples do not seem to be on the same wavelength and have absolutely no idea what the other is doing. I am truly blessed to have married a woman who has the same financial outlook that I have.
Peace
Lounatik
29k? What the hell?
From mid-2009 to mid-2010, we spent about 100k of our savings on getting married, buying a house, buying a car, and paying off both of our student loan debt. We still have more than double that amount and contributing to it fast. 10% goes to 401k, 10% goes to ESPP, and about $1500 a month into savings. I want to have my house paid off by the time I am 30.
I actually have one of these and it isn't worth it for me. The account started off at 3% but has since dropped to 2.25%. Yes, that is more than twice what most savings accounts are giving right now but they also force you to actually use the account daily.
I think the terms of use for my account is I have to:
- Have direct deposit
- Do 12 debit-card transactions
- Login to the online system once a month
They refund your ATM fees up to $25 but only if you meet the above requirements. 12 transactions is very easy for me, but it forces me to use their card instead of credit. Their online system also happens to be terrible, as with every credit union I have used. The software looks 20 years old.
At first I thought the account was a perfect fit but for some reason it ended up turning into a PITB.
Aren't you giving up a ton of deductible mortgage interest by doing that?
If someone offered to repay you $1.00 for every dollar they borrowed from you vs. $.15 or $.28 for every dollar they borrowed which one would you take?
It wasn't a yes or no question.
What was your starting family income and how did it progress?
I think you are believing in an elitist belief that just hard work and savings can send everyone's kids to an 18k/yr private school.
Smart ass questions get bullshit answers.
Actually I believe that a rabbits foot and maybe a stupid belief that I could win the lottery are the way to send my kids to an 18k/yr school. Are you really that stupid? Yes, I believe you are. Do you know that the county I live in has the worst public school system in the area? No, of course you don't, I am just being elitist. Then why did you move to where you did? You might ask. Because it was the most affordable solution to achieve my goals, which apparently you have none of.
Do you have any savings at all? Or are you one of these idiots who lives paycheck to paycheck because of the dumbass decisions you made earlier in your life. I am betting the latter is true. See how much fun generalizations are ?
Show me where luck played any part in what my wife and I have accomplished in our lives. People like yourself have been deluded into believing that any success beyond what your narrow mind can wrap around must be luck. How else could it be? Hard work? Maybe, but I doubt it. Savings? No way, thats for losers. Sacrifice? Fuck that, I will surely get lucky and find a sack of money on the side of the road one day. Maybe I will even hit the lottery, I know I will! Why do anything to make a better future for myself when I could depend on Lady Luck to guide me!
Maybe one day you will grow up and realize that there is a real world out there, not some fantasy world of leprechauns and inheritance winners.
Peace
Lounatik