rilloaggie said:financeag96 said:
Interesting thread and great topic OP.
Pretty sure this post is e-masturbation
No need to hedge your bet on that one. It's a certainty.
rilloaggie said:financeag96 said:
Interesting thread and great topic OP.
Pretty sure this post is e-masturbation
jamey said:
I got a neighbor that rents a 3200 a month house and they drive a Bently and one of those expensive SUVs
Me and my wife's cars added together cost a lot less than 1 of theirs and we have a mortgage that costs $600 a month less than their rent.
Another neighbor revealed a few weeks ago they have 30K in credit card debt. The wife is a stay at home mom
financeag96 said:
Interesting thread and great topic OP. I do believe younger generation is in a lot of debt (car loans), seems like everybody I know who gets a new job after college goes and buys a new truck/car to keep of the social status
Pilot Ag said:
FWIW my dad runs a fairly large bank. I've been looking at getting either a gently used or new truck now (old one has 300k miles on it and is an 08 and to put it nicely - it's very tired) and he told me that they're planning for a big wave of repo's in Q1 of next year, so I'll have to wait it out.
MAS444 said:
I imagine just purchase them directly from the dealership like any pre-owned car.
This year has been a bit crazy pants with the market and all, but overall it seems to be working for me. I also have a good money guy managing my working capital. I even run 95% of my daily expenses through a credit card with high cash rewards and pay it off every month, so I have a cash return on zero investment that I roll into traditional investments.EvenPar said:
As long as you leverage debt to cash flow a positive return, there's nothing wrong with it. The wealthy understand this concept and manage it responsibly all the time.
Bird Poo said:
Pretty incredible. Congrats man.
94chem said:
I will say this in all caps: LISTEN TO ME, KIDS. THE MONEY YOU SAVE IN YOUR 20'S IS THE MOST IMPORTANT MONEY YOU'LL EVER SAVE.
Dill-Ag13 said:94chem said:
I will say this in all caps: LISTEN TO ME, KIDS. THE MONEY YOU SAVE IN YOUR 20'S IS THE MOST IMPORTANT MONEY YOU'LL EVER SAVE.
Amen
94chem said:Bird Poo said:
Pretty incredible. Congrats man.
Who knows if it will actually work out...with 18 years of tuition left to fork over, I can't exactly keep a conservative portfolio and expect to have $600K or so. I mean, I'm a scientist, not a venture capital CEO, Wall Street bean counter, or ambulance chaser. But I know people with twice as much income, 1/3 as many kids, who started working at 22, and act like college was some huge, unexpected surprise.
I will say this in all caps: LISTEN TO ME, KIDS. THE MONEY YOU SAVE IN YOUR 20'S IS THE MOST IMPORTANT MONEY YOU'LL EVER SAVE.
Quote:
If only 20 year old me had seen that….
Though to be fair, a warning of staying away from bad women would have been more lucrative in the end.
fixed for accuracyEliminatus said:
If only 20 year old me had seen that….
Though to be fair, a warning of staying away frombadwomen would have been more lucrative in the end.
Dill-Ag13 said:94chem said:
I will say this in all caps: LISTEN TO ME, KIDS. THE MONEY YOU SAVE IN YOUR 20'S IS THE MOST IMPORTANT MONEY YOU'LL EVER SAVE.
Amen
Lot of reasons for this. A sick family member or a military commitment are a couple.TXTransplant said:
Why would anyone (except for maybe an MD) be in grad school for all of their 20s?
I have a PhD. It took me 4 years…I was out before I turned 26. If grad school is taking much longer than that, there is a problem.
I was behind in my savings, not just because of grad school, but because I then took a job in higher ed, and also had a baby at 26. But while I didn't save as much (I did contribute to a 403b and a state retirement plan), I did minimize expenses.
rononeill said:
Pay yourself first. period.
BenTheGoodAg said:rononeill said:
Pay yourself first. period.
Can you explain what this means with respect to this topic?
Black Tooth Grin said:Lot of reasons for this. A sick family member or a military commitment are a couple.TXTransplant said:
Why would anyone (except for maybe an MD) be in grad school for all of their 20s?
I have a PhD. It took me 4 years…I was out before I turned 26. If grad school is taking much longer than that, there is a problem.
I was behind in my savings, not just because of grad school, but because I then took a job in higher ed, and also had a baby at 26. But while I didn't save as much (I did contribute to a 403b and a state retirement plan), I did minimize expenses.
Kudos on your accomplishments, but your situation is your situation only. Being afforded the conditions where a timely path through school exist is a gift.
my wife was. She paid 100% of her undergrad and grad, so she had to work while attending. Why is that considered a problem?TXTransplant said:
Why would anyone (except for maybe an MD) be in grad school for all of their 20s?
I have a PhD. It took me 4 years…I was out before I turned 26. If grad school is taking much longer than that, there is a problem.
I was behind in my savings, not just because of grad school, but because I then took a job in higher ed, and also had a baby at 26. But while I didn't save as much (I did contribute to a 403b and a state retirement plan), I did minimize expenses.
I would hope so, but you never know. I'm sure the targets of this discussion might interpret it differently.AgOutsideAustin said:BenTheGoodAg said:rononeill said:
Pay yourself first. period.
Can you explain what this means with respect to this topic?
Usually the term means no matter your income or situation you should pay yourself first which means save some percentage of your money. Save some amount then start paying others for vehicles, houses, vacations, or whatever. Too many people pay others for "things" before paying themselves then they find it hard to save……
.62strat said:my wife was. She paid 100% of her undergrad and grad, so she had to work while attending. Why is that considered a problem?TXTransplant said:
Why would anyone (except for maybe an MD) be in grad school for all of their 20s?
I have a PhD. It took me 4 years…I was out before I turned 26. If grad school is taking much longer than that, there is a problem.
I was behind in my savings, not just because of grad school, but because I then took a job in higher ed, and also had a baby at 26. But while I didn't save as much (I did contribute to a 403b and a state retirement plan), I did minimize expenses.
Graduated at 29-30 years old.
I got my bs in engineering from a&m at 30 years old lol.
COME AT ME!