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Old 01-04-2019, 10:16 AM   #26 (permalink)
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Im gonna go ahead and completely disagree with you here.

I dont know a single person my age with a legit savings account. But they ALL have brand new cars with 6 year notes on them. Shit, im one of the few people i know with a paid for vehicle, let alone two of them.
I'm 29 and it's about 50/50 with people that I know. That being said, the people with insane debt have some unbelievably insane debt.

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must have robbed a bank to pull that off




or been heavy saving for a long time good for you!
It's doable, just plan it out and cut the bullshit out of your spending.
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Old 01-04-2019, 10:28 AM   #27 (permalink)
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Let's start one! Ill be the brewer, you can be the brains!
Send me some samples

My one rich friend has talked about it, maybe once he gets tired of being a lawyer for Amazon!
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Old 01-04-2019, 10:43 AM   #28 (permalink)
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Originally Posted by IEATRKS84 View Post
Im gonna go ahead and completely disagree with you here.

I dont know a single person my age with a legit savings account. But they ALL have brand new cars with 6 year notes on them. Shit, im one of the few people i know with a paid for vehicle, let alone two of them.
Ditto.

I am no where near as in as good of shape financially as some on here are saying. But compared to many of the people that i know of My age (late 20's/early 30's) i am golden.

Only have my house as debt, wife has a few student loans but all are ahead of schedule for being paid off as she makes almost double payments every month.

we don't drive brand new cars, we don't own the latest and greatest or have the best of everything. We don't need it, not that we could not buy if it we really wanted it but why?

So many people I know constantly complain about how they are broke and in debt but drive a nearly new car, have the latest iPhone 2 weeks after it comes out, only drink starbucks coffee etc... Called living within your means and people of my generation seem to not get that very well. They will get a tax check in a couple month and be Hood rich for 2 weeks, blow it all on unneeded crap instead of saving it and be broke again by May.
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Old 01-04-2019, 11:02 AM   #29 (permalink)
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So many people I know constantly complain about how they are broke and in debt but drive a nearly new car, have the latest iPhone 2 weeks after it comes out, only drink starbucks coffee etc... Called living within your means and people of my generation seem to not get that very well. They will get a tax check in a couple month and be Hood rich for 2 weeks, blow it all on unneeded crap instead of saving it and be broke again by May.
this^^

this is what i see

seems like people my age dont want to accept whats within there means

they dont see new phones or new clothes or starbucks everyday or vacations as extra

or i might just be jealous since i know its not within my means to go on a week vacation to hawaii twice a year
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Old 01-04-2019, 11:52 AM   #30 (permalink)
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So I am late 20s and realized the whole "people my age don't want to own a home." I am now investing heavily in rental properties in HOAs so that I can collect rent and neither I nor the renter really have to do shit for outside maintenance. we will see if it pays off, but it has got to be better than the bloodbath that my 401k took in 2018.
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Old 01-04-2019, 12:27 PM   #31 (permalink)
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Originally Posted by IEATRKS84 View Post
Im gonna go ahead and completely disagree with you here.

I dont know a single person my age with a legit savings account. But they ALL have brand new cars with 6 year notes on them. Shit, im one of the few people i know with a paid for vehicle, let alone two of them.


No idea how old you are but I'm going to guess my age or younger, I'm 35. Out of all of the people I grew up with as friends.... 10-15 married couples now I can only think of one that is in debt up to his ears with hardly a savings. He does work hard though and make the mortgage on his 1.5 million dollar house.
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Old 01-04-2019, 02:00 PM   #32 (permalink)
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the mortgage on his 1.5 million dollar house.
i think i found where your buddys debt and lack of savings are
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Old 01-04-2019, 05:23 PM   #33 (permalink)
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So I am late 20s and realized the whole "people my age don't want to own a home." I am now investing heavily in rental properties in HOAs so that I can collect rent and neither I nor the renter really have to do shit for outside maintenance. we will see if it pays off, but it has got to be better than the bloodbath that my 401k took in 2018.
bloodbath?

i think I lost my gains in 2018..but still ended uo at 1% for they year

2008 though..i was down 40%.....THAT was a bloodbath...
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Old 01-04-2019, 06:32 PM   #34 (permalink)
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Originally Posted by IEATRKS84 View Post
Im gonna go ahead and completely disagree with you here.

I dont know a single person my age with a legit savings account. But they ALL have brand new cars with 6 year notes on them. Shit, im one of the few people i know with a paid for vehicle, let alone two of them.
On that note, why the fuck would you have a savings account these days? Just checked and it looks like ~2% APY. Waste of fucking time. I have a checking account, or the money is in investments (bonds or business).

Per thread, housing will go down/stalemate. Lending has slacked back off, itll bite them in the ass again.
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Old 01-04-2019, 10:01 PM   #35 (permalink)
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At 35yr old my friends range from one extreme to the other. You can see a clear pattern on good decisions by those that are worth 7 figures and the opposite for those that are worth <0. Not much of a surprise honestly.

For 2019 I have no frigging clue what will happen. I'm still in oil heavily, so hopefully it bounces back from the cliff the last 3 months were. My investments could be worth 2 million, or I could be looking for a job.
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Old 01-05-2019, 01:04 PM   #36 (permalink)
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Let's start one! Ill be the brewer, you can be the brains!
@guidolyons and I will be your unofficial taste tester.
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Old 01-05-2019, 02:29 PM   #37 (permalink)
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@guidolyons and I will be your unofficial taste tester.
Always need testers!!

Did you try the centennial pale I sent ya yet?
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Old 01-05-2019, 03:26 PM   #38 (permalink)
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Same here. You can add 2 people to your list of people you know that own all their cars, has a house, has 1yr of salary in savings and 30% of household income goes into retirement savings. So that should affect your average!

Come.to think of it our friend group is in roughly the same shape as us, except for the ones who crapped out the financial nuke that are kids, hey are kind of F'd lol!
Kids arent the financial nuke people seem to think. Im early 30's, house is almost paid off, kids college fund is going, and a couple years worth of salary put away. though I'm not putting away 30% for retirement, once the house is paid off ill go back to maxing everything out.

I know plenty of kids I went to school with who don't have a pot to piss in, and others who are saving at a pace that will have them millionaires before 40. Millenials aren't as bad as the TV would have you believe.
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Old 01-06-2019, 04:21 PM   #39 (permalink)
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Let's start one! Ill be the brewer, you can be the brains!
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Always need testers!!

Did you try the centennial pale I sent ya yet?
Not yet! We will try it next time we get together!
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