w_b
Well-Known Member
don’t forget the Camaro. And/or donuts.
Consolidating and saving the Benjamins.
- Thread starter Dave Taylor
- Start date
terrabike01
Well-Known Member
Exactly!! Enjoy it now while you can. Sitting on a pile of money when you're in your 70s and 80s with bad knees, hips and back is no fun! But at the rate Mr Magoo is going we'll be a socialist country by then and all your savings will be taken.
terrabike01
Well-Known Member
That first sentence pretty much sums it up. Most of this inflation imo is self inflicted by Mr Magoo. Open the pipeline up and gas will be down a dollar in a month. Stop paying people to stay home and get the entire country open and working again. We were the #1 exporter in the world and self sufficient. Now we are begging opec for oil and they are flipping us the bird. How you think this is going to end up. $5 gas will be here soon enough.
rick81721
Lothar
Well, we are the #1 exporter in the world if you exclude China.
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terrabike01
Well-Known Member
Looks just like him!!!
johnnyrides
Active Member
All that you are writing about depends on how the individual/family defines what “the good life” is and what they need to be happy. That varies tremendously obviously. Some people lease cars because they “must“ have a new one every three years. Some need one, or two, or three vacations a year, etc. The first thing any financial advisor is going to ask you is “what do you want?”. What’s the goal? And NOT speaking about to pay my mortgage, or my student loan debt, need to be set in case of an unexpected medical issue, etc. That stuff is a given. What do you want beyond that? You set goals, define them, and live within those means. Log what you spend….everything. You’ll be amazed and likely sickened if you listed all the bullshit.
I personally see so, so, so many people living far beyond their income and means. people also don’t take care of and maintain their “things”. Many spend stupidly, eat out all the time, etc. All the external forces are controllable to an extent if you can honestly define what you need vs what you want and be practical and smart about it.
I personally see so, so, so many people living far beyond their income and means. people also don’t take care of and maintain their “things”. Many spend stupidly, eat out all the time, etc. All the external forces are controllable to an extent if you can honestly define what you need vs what you want and be practical and smart about it.
Johnny Utah
Well-Known Member
I went back to a flip phone for a personal phone in the spring. My work phone has the internet, but I only carry it during work hours and put it on mute when I finish my day. The flip phone lives with me on the weekends and during none work hours, I gave the number to ten people, and that’s it. It was the best thing I changed during the last two chaotic years, the dividends into personal happiness have hit ten fold.
I can make more money, I can’t make more time. Auditing one’s time is pretty beneficial. It’s amazing how much money goes back in your pocket with it as well.
I can make more money, I can’t make more time. Auditing one’s time is pretty beneficial. It’s amazing how much money goes back in your pocket with it as well.
Dave Taylor
Rex kwan Do
What is the good life? My father in law has made $200k+ for the last 15 years but never paid off his $240k house in Flemington. Instead he owed $340k when he sold this month. He's borrowed money from me but at the same time he gets a vacation spot every year whether it is ocean city,NJ or a Marriott resort. What's better? He could own another place if he just paid off his primary home. I am grateful for them but the decisions don't seem great.Sure you want to end up in Maryland? 😕
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if the increase in value outpaced the cost - then it really doesn't matter from a financial POV??
it is also an easy to manage cost - like rent.
not the only person i know that does this - refinances the value out of the home.
and why have a second home? just rent whenever you want to go somewhere.
i'm also not sure about this "enjoy it now" theory. got to be some balance.
We aren't talking about locking it down to save above all - we are talking about saving to have the
choice in your early 60s (YMMV) about only having to work if you want to, and only on jobs you choose.
There are many things I enjoy doing, many i don't get paid for, but i could.
Getting close to that early 60s, i'm comfortable that I will still "be able to enjoy it" for awhile
and not worry about how to finance it, with enough money left over to hire someone to wipe my ass so
my wife or kid doesn't have to do it.
Dave Taylor
Rex kwan Do
I agree. At the same time life is WTF. My cousin has $300k in college debt from his architectural engineering degree but u can be a dumbass in the laborers union with no ged or diploma and start out making $100k plus a year. The world isn't right.
and a few more years into his archi career, he's making $250k, and thinking about starting his own firm.
Not to mention it is easier to work a mouse than haul bags of shit from one side of a site to the other in the winter.
Try doing that when you turn 50 also.
There is always money to be made if you are willing to work. esp weekends and holidays.
Cassinonorth
Well-Known Member
There are very, very few architects making $250k a year
i hear ya - according to the goog - avg starting $60k, median $83k -
amassing $300k in debt for an engineering degree means a pedigree college.
person should be on the pointy end. I pay my archi $350/hr, his structural person $200/hr.
luckily his minions are only $75/hr and do most of the realization work.
He's doing "ok" i guess.
point is the labourer is limited by the number of hours in a week.
an architect with a PE and the other goodies has a path to make much more.
terrabike01
Well-Known Member
Go to trade school. Work hard from 20 to 50 and start your own Roth IRA at 20. Throw every spare penny you have in that for 30 years and retire at 50. Plumbers, electricians and other techs are making mad bank right now and are always in demand.
A college degree doesn't get you much these days but brain washed in some cases. But some jobs require one. All depends what job road you want to go down.
A college degree doesn't get you much these days but brain washed in some cases. But some jobs require one. All depends what job road you want to go down.
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terrabike01
Well-Known Member
Something is serious wrong there besides going on a vacation. That's insanely upside down. Unless he has 12 kids lol. Good time to sell though.
Good luck in Maryland. Hope you're feeling better.
Mahnken
Well-Known Member
When I first started in the trades,I loved it, for the first two years. Real job, real money, was real nice right out of high school. After five years, I hated it. After ten years I saved enough to put myself through college and never looked back. College might not be for everyone, but neither are the trades.
The Kalmyk
Well-Known Member
Road trips be like...
Dave Taylor
Rex kwan Do
I have no interest in college. I went years ago to learn German and economics but dropped out after two years. I was a certified mechanic, am a certified welder and crane operator with a bunch of other certifications. I enjoy the trades but I do not enjoy working in a shop like I have been stuck doing for 20 years. It’s about as exciting as a desk job. I want to be at a different location every day, breathing fresh outside air and use my body during the day. I do not want to operate jack hammers all day but having been a working foreman I enjoy that. I enjoy working with people to build things, share my skills and knowledge as well as learn from others. What I wish was mandatory was a 2 year course on finance and retirement to show the young people hat they need to do. I didn’t have much guidance as a youth and my bank account suffers from that to this day. If you give someone guidance when they are young instead of corporate America preaching mortgages, debt and marriage, then it would be simple for an honest, hard working kid to become a millionaire in no time.
Dave Taylor
Rex kwan Do
What I think has really f’d society over however are mi d altering drugs like Zoloft and Xanax. So many are fugged.