Ugh. This is what I hate about financial special interest stories for young people. The vast majority are not lucky enough to start rewarding, high-paying careers right out of college, provided they were lucky enough to go to college in the first place.
It isn’t about how much you earn, it’s how much you spend. Never spend your total income, always put at least 10% away for yourself. Once you learn the difference between “wants” and “needs” it will all fall into place.
He lives at home with the parents. They don’t charge him rent or anything for food. His only expense is transportation to work. Mom makes his lunch every day. Does his laundry. Buys his clothes. Pays the insurance on the car. And sometimes dad gives him gas money. .and if its the daughter that still lives at home….. to get all that she will have to clean the house, do the laundry, make dinner.
It doesn’t matter how much you make as much as how much you save. If you save 70% of your income, you can retire in less than 10 years. You have to control the spending.
Your success depend on how well you learn the difference between “wants and needs”.
My wife and I retired at age 47 and had a very happy, comfy life for the past 18 years. Now that Social Security has set in we feel like we’re “rolling in the dough”!
We would have been millionaires had we worked to age 60 but we wouldn’t have been happier or as fulfilled.
Say What Now‽ Premium Member over 10 years ago
Almost %50 of my income goes to rent. Almost %40 goes to beer…
Boots at the Boar Premium Member over 10 years ago
Ugh. This is what I hate about financial special interest stories for young people. The vast majority are not lucky enough to start rewarding, high-paying careers right out of college, provided they were lucky enough to go to college in the first place.
inshadowz over 10 years ago
Out of science fiction and finance fiction, I strongly lean towards the former. The latter totally lacks realism.
Gameguy49 Premium Member over 10 years ago
It isn’t about how much you earn, it’s how much you spend. Never spend your total income, always put at least 10% away for yourself. Once you learn the difference between “wants” and “needs” it will all fall into place.
queenkimmie over 10 years ago
Young man save 70% of his income. I say young man is living at home and mommy and daddy are footing the bill.
Dani Rice over 10 years ago
Never pay somebody else to do what you can do for yourself, whether it’s washing the car or cleaning the house.
comedynut over 10 years ago
I lived on Ramen noodles for 2 years so I can save money.
Now I have to spend it for a gym membership because I gained 50 lbs.listmom over 10 years ago
“When I get a little money I buy books; and if any is left I buy food and clothes.”— Desiderius Erasmus
Hunter7 over 10 years ago
He lives at home with the parents. They don’t charge him rent or anything for food. His only expense is transportation to work. Mom makes his lunch every day. Does his laundry. Buys his clothes. Pays the insurance on the car. And sometimes dad gives him gas money. .and if its the daughter that still lives at home….. to get all that she will have to clean the house, do the laundry, make dinner.
fofinho over 10 years ago
It doesn’t matter how much you make as much as how much you save. If you save 70% of your income, you can retire in less than 10 years. You have to control the spending.
Gameguy49 Premium Member over 10 years ago
Your success depend on how well you learn the difference between “wants and needs”.
My wife and I retired at age 47 and had a very happy, comfy life for the past 18 years. Now that Social Security has set in we feel like we’re “rolling in the dough”!
We would have been millionaires had we worked to age 60 but we wouldn’t have been happier or as fulfilled.