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Posted: 2/20/2017 8:59:50 PM EDT
[#1]
Quote HistoryQuoted:
Yeah, because nobody ever marries a woman who makes more money than they do really? I make a hundred grand a year and my wife makes 170k a year. Around where I live it's not unusual for a nurse to make a hundred K. He could improve his financial situation by marrying a nice girl who has a good job. Telling someone to get married FOR financial reasons.. that's about as bad as the other half that are divorcing to improve their financial situation(s). I don't know, you can't put a price on freedom if you're just not interested in being locked down. |
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Posted: 2/20/2017 9:00:28 PM EDT
[#2]
Honestly, I think you're doing pretty good OP.
Sounds like you're on a good track, best of luck |
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Posted: 2/20/2017 9:01:02 PM EDT
[#3]
You're doing very well outside of a major area. Keep living within your means.
I make ~$100k now and you're actually doing better than me, lol |
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Posted: 2/20/2017 9:02:01 PM EDT
[#4]
Quote HistoryQuoted:
Lol wut 3% down, pay PMI or just get an 80/10/10 loan You must be BLOWING a ton of money if you can't afford a $1500 note ETA: 200k, $10k down, keep $10k in the bank for emergencies $1190 PMT I have four dependents making less than you and my rent is around a G. You could probably swing $300k + Something's fucky WTF are you doing with $3k/month I've grossed around or just over $100k each of the last several years. I would not be comfortable with a $1,500 mortgage. I wouldn't be able to sleep at night trying to make that payment on a $56,000 gross salary. People buying $300,000+ houses on $50k salaries led to bad times for many about 10 years ago. |
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Posted: 2/20/2017 9:02:14 PM EDT
[#5]
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56k won't buy a $195k house, so... maybe you should marry a nice girl who has a good job, like a nurse. |
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Posted: 2/20/2017 9:06:39 PM EDT
[#6]
56k is right around the median individual salary. So median average.
http://money.cnn.com/calculator/pf/income-rank/ I know individuals about your age far higher, and far lower. It's all relative. |
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Posted: 2/20/2017 9:07:11 PM EDT
[#7]
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I've grossed around or just over $100k each of the last several years. I would not be comfortable with a $1,500 mortgage. I wouldn't be able to sleep at night trying to make that payment on a $56,000 gross salary. People buying $300,000+ houses on $50k salaries led to bad times for many about 10 years ago. Quote HistoryQuoted:
Quoted:
Lol wut 3% down, pay PMI or just get an 80/10/10 loan You must be BLOWING a ton of money if you can't afford a $1500 note ETA: 200k, $10k down, keep $10k in the bank for emergencies $1190 PMT I have four dependents making less than you and my rent is around a G. You could probably swing $300k + Something's fucky WTF are you doing with $3k/month I've grossed around or just over $100k each of the last several years. I would not be comfortable with a $1,500 mortgage. I wouldn't be able to sleep at night trying to make that payment on a $56,000 gross salary. People buying $300,000+ houses on $50k salaries led to bad times for many about 10 years ago. I'm not denying that I've made some bad choices...but I'm trying to make the right one here, and that's what is frustrating me. The average *household* income in my area is 56k, and the average home price is 195k. I just can't fathom how that's possible, other than most people don't live like we do here... |
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Posted: 2/20/2017 9:07:15 PM EDT
[#8]
Quote HistoryQuoted:
Telling someone to get married FOR financial reasons.. that's about as bad as the other half that are divorcing to improve their financial situation(s). I don't know, you can't put a price on freedom if you're just not interested in being locked down. Agreed. OP should marry a smoking hot chick who is nice. I never cared how much a girl made when I was dating. |
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Posted: 2/20/2017 9:09:29 PM EDT
[#9]
Quote HistoryQuoted:
I've grossed around or just over $100k each of the last several years. I would not be comfortable with a $1,500 mortgage. I wouldn't be able to sleep at night trying to make that payment on a $56,000 gross salary. People buying $300,000 houses on $50k salaries led to bad times for many about 10 years ago. $9k/yr and you're uncomfortable at 17% for a mortgage? Conventional financial advice says you should be comfortable at twice that... |
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Posted: 2/20/2017 9:10:03 PM EDT
[#10]
Quote HistoryQuoted:
Agreed. OP should marry a smoking hot chick who is nice. I never cared how much a girl made when I was dating. Quote HistoryQuoted:
Quoted:
Telling someone to get married FOR financial reasons.. that's about as bad as the other half that are divorcing to improve their financial situation(s). I don't know, you can't put a price on freedom if you're just not interested in being locked down. Agreed. OP should marry a smoking hot chick who is nice. I never cared how much a girl made when I was dating. I've tried dating smoking hot women who I thought were nice. The last four years of my life have been hell as both have left me for other dudes who made more and wanted to live more extravagant lifestyles. In my late twenties I feel like I won't have any other options. Btw, one was a year younger and the other 3 years older. No difference |
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Posted: 2/20/2017 9:11:28 PM EDT
[#11]
Quote HistoryQuoted:
My answer was different before I saw how much you blow on drinking and women. You are an idiot, but luckily there is still time since you are only 27. You need be putting at the least the amount into your company retirement account to get the full match. If it's a shitty plan just do that. If it's a good plan with low cost funds in it I would say at least 10% preferably 15%. Fully fund an Roth IRA every year at 5000(I believe) a year. If you sign up right now for a roth IRA you can contribute for 2016 and 2017. 
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Posted: 2/20/2017 9:17:03 PM EDT
[#12]
Quote HistoryQuoted:
My answer was different before I saw how much you blow on drinking and women. You are an idiot, but luckily there is still time since you are only 27. You need be putting at the least the amount into your company retirement account to get the full match. If it's a shitty plan just do that. If it's a good plan with low cost funds in it I would say at least 10% preferably 15%. Fully fund an Roth IRA every year at 5000(I believe) a year. If you sign up right now for a roth IRA you can contribute for 2016 and 2017. Take 5K of your savings and start the Roth IRA right now. Leave the rest in savings for an emergency fund. Stop spending that much money on women and booze right now. You can wine and dine women and buy beer at the grocery store for a 1/4 of the amount you are spending right now. If you want a house stop blowing over 1K a month and you can have a down payment very quickly. You don't make enough to worry about a Roth, max out your 401k first, then a traditional IRA so you can further reduce your tax liability. You can create a roth when you make more than 85k or whatever the max AGI is. Or, create a roth after many years of following the advice in my first sentence you have so much in your 401k it makes sense to quit your job and create a 401k ladder. If you aren't unhappy where you live stay there as long as the rent is $300 and do what I spelled out in my first sentence, then retire early and freebase cocaine on a yacht with eastern european women and post about it in gd. |
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Posted: 2/20/2017 9:18:52 PM EDT
[#13]
Quote HistoryQuoted:
I'm not denying that I've made some bad choices...but I'm trying to make the right one here, and that's what is frustrating me. The average *household* income in my area is 56k, and the average home price is 195k. I just can't fathom how that's possible, other than most people don't live like we do here... You are doing the right thing. (edit: I did not see the $1200/mo bar tab, that's pretty much the dumbest way to spend money possible) Keep saving, maximize your retirement contributions, and live below (not within) your means. When I was your age, I made a similar salary. My former co-workers, who also made a similar salary, were buying homes for $350,000 or more. I thought it was insane. 5 years later, nearly all were for sale to down-size, short-sale, or were in foreclosure. Like you, at that time, I also could not understand how people could afford to buy an average home. Keep in mind that you're already making $56k at 27. By the time you're 40, you'll likely be making $100k or more and you'll also have a lot more in savings. If you choose to wait to buy a home, the larger down payment and your much higher future income will allow for a more manageable mortgage payment on a nicer home. |
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Posted: 2/20/2017 9:19:14 PM EDT
[#14]
"That's exactly what the average household income is in my area. "
Think about the average person you know. Think about the intelligence of that average person you know. Ask yourself if it's going to be as successful as that average person. |
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Posted: 2/20/2017 9:19:47 PM EDT
[#15]
Quote HistoryQuoted:
Of all the stupid shit I've read on here... Please explain why my comment was stupid. If he gets his shit straight financially, in 8 years 25 yr old nurses/teachers etc will be lining up to marry him. Earning potential is a function of skills, networking and luck. He can work on the skills and network like crazy. If he marries, his new gal is going to hamstring his mobility like they all do and he'll be stuck in whatever bullshit position he can manage to keep her in that big house all the while being poor. OP, build the skills, save money and tap and forget for 8 years. At 35 when you have $300k in the bank, raise your expectations and start dating 7-8s. |
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Posted: 2/20/2017 9:24:20 PM EDT
[#16]
Quoted:
My rent is 300... The average home price is 195k. Wait, what? Typical rent around here is a hell of a lot more than that, while typical homes are considerably less. |
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Posted: 2/20/2017 9:24:50 PM EDT
[#17]
Quote HistoryQuoted:
I've tried dating smoking hot women who I thought were nice. The last four years of my life have been hell as both have left me for other dudes who made more and wanted to live more extravagant lifestyles. In my late twenties I feel like I won't have any other options. Btw, one was a year younger and the other 3 years older. No difference Fucking stop that bullshit thinking right now. The options get BETTER after 30 man, especially once you get more world wise and have traveled some. OP, get in the gym and start lifting. Make more money. No excuses. |
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Posted: 2/20/2017 9:26:35 PM EDT
[#18]
Quote HistoryQuoted:
$9k/yr and you're uncomfortable at 17% for a mortgage? Conventional financial advice says you should be comfortable at twice that... He's 27 and only contributing 3% to his retirement. $56k salary is his gross pay; after taxes, health insurance, and other deductions he's under $40,000. That $1,500 mortgage is nearly 50% of his take-home pay and he's still significantly under-funding his retirement. |
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Posted: 2/20/2017 9:32:35 PM EDT
[#19]
humble brag
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Posted: 2/20/2017 9:32:40 PM EDT
[#20]
So you're still doing this
https://www.ar15.com/forums/t_1_5/1951042_How-far-away-am-I-from-buying-a-house-.html |
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Posted: 2/20/2017 9:35:39 PM EDT
[#21]
Quote HistoryQuoted:
So you're still doing this
https://www.ar15.com/forums/t_1_5/1951042_How-far-away-am-I-from-buying-a-house-.html And... http://www.ar15.com/forums/t_1_5/1869091_Buy-my-first-house-or-keep-renting? http://www.ar15.com/forums/t_1_5/1844211_How-is-home-ownership-possible? http://www.ar15.com/forums/t_1_5/1756759_I-don-t-want-to-buy-a-house |
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Posted: 2/20/2017 9:39:52 PM EDT
[#22]
OP, you make me feel like a stupid poor person.
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Posted: 2/20/2017 9:40:45 PM EDT
[#23]
Never understand the need to ask the internet for gratification.
Op, I have a bullshit degree, I make 3 times as much as you but I spend like a drunken whore on New Orleans so I have 1/3 of your savings. I truck payment is high, my rent is 1200 a month. My child support is 14,000 a year and will be for the next 6 years. On paper I'm a terrible human. In reality, I still have money, I steadily get promoted, and I have fun and don't give a fuck what GD and all its virgins have to say about it over their tub of lard bellies from behind their ammo forts while their moms make em a late snack. You probably shouldn't care either. Want financial advise? Go to a financial planner and use GD for what it is, a place to come laugh. |
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Posted: 2/20/2017 9:46:09 PM EDT
[#24]
Quote HistoryQuoted:
Want financial advise? Go to a financial planner and use GD for what it is, a place to come laugh. He's been asking GD for years. http://www.ar15.com/forums/t_1_5/1701913_I-made-45k-this-year-and-only-saved-3500 |
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Posted: 2/20/2017 9:48:11 PM EDT
[#25]
OP, click HERE, subscribe, and follow their advice.
It worked for me, I retired early and comfortably. |
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Posted: 2/20/2017 9:48:15 PM EDT
[#26]
Geez, after 3 years and a 10k raise and you've only saved that much more?
You're right, you are a failure. Send me you 15k and I grow it (blow it) better than you ever could. |
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Posted: 2/20/2017 9:55:41 PM EDT
[#27]
Quote HistoryQuoted:
I'm not denying that I've made some bad choices...but I'm trying to make the right one here, and that's what is frustrating me. The average *household* income in my area is 56k, and the average home price is 195k. I just can't fathom how that's possible, other than most people don't live like we do here... You're right, they don't live like you do. instead of dropping 1200 a month on bars and entertainment, they're saving for a down payment on that 195k house. |
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Posted: 2/20/2017 9:59:01 PM EDT
[#28]
Quote HistoryQuoted:
With such minimal expenses, I would think you would be able to sock away more money. You should be utilizing that 403(b) and get to save pre-tax. That's what I was thinking also. With the income stated and your costs virtually nil you should have either way more in savings or have some really nice toys. If not what is your vice because the money is going somewhere. |
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Posted: 2/20/2017 10:03:21 PM EDT
[#29]
SOCIAL SECURITY. Big question.
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Posted: 2/20/2017 10:05:12 PM EDT
[#30]
Quote HistoryQuoted:
In Alaska, youre doing ok. in bum fuck Texas, youre doing amazing. in NYC, youre broke dick. $300/month rent in NYC wouldn't even get you a closet. |
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Posted: 2/20/2017 10:05:30 PM EDT
[#31]
If you aren't maxing out your employer's contribution, you are a fool.
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Posted: 2/20/2017 10:11:03 PM EDT
[#32]
Quote HistoryQuote HistoryQuoted:
Quoted:
So you're still doing this
https://www.ar15.com/forums/t_1_5/1951042_How-far-away-am-I-from-buying-a-house-.html And... http://www.ar15.com/forums/t_1_5/1869091_Buy-my-first-house-or-keep-renting? http://www.ar15.com/forums/t_1_5/1844211_How-is-home-ownership-possible? http://www.ar15.com/forums/t_1_5/1756759_I-don-t-want-to-buy-a-house 
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Posted: 2/20/2017 10:22:23 PM EDT
[#33]
Quoted:Am I doing alright? No. No children and apparently no plans to have any. You didn't mention being passionate about anything. You didn't mention mastering a skill or profession and being able to teach that skill to others. You didn't mention anything about helping yourself and others be at peace. You didn't mention anything about passing on the traditions of Western Civilization via participation in any of its institutions. Etc. |
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Posted: 2/20/2017 10:27:29 PM EDT
[#34]
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lol wut Yeah it was a subtle trollin'. |
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Posted: 2/20/2017 10:29:11 PM EDT
[#35]
Quote HistoryQuoted:
I've tried dating smoking hot women who I thought were nice. The last four years of my life have been hell as both have left me for other dudes who made more and wanted to live more extravagant lifestyles. In my late twenties I feel like I won't have any other options. Btw, one was a year younger and the other 3 years older. No difference You should be dating a mature 22-23 year old since you've got some time to burn - and you're going to be super cool for taking them out once in a while. Or maybe I'm just doing everything wrong myself.. |
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Posted: 2/20/2017 10:29:14 PM EDT
[#36]
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He's been asking GD for years. http://www.ar15.com/forums/t_1_5/1701913_I-made-45k-this-year-and-only-saved-3500 So two years ago he was 28 and now he's 27? |
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Posted: 2/20/2017 10:31:54 PM EDT
[#37]
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Not for GD you're not; you're salary, home, and dick are all too small. I have to agree with this guy OP. No wife with fake tits, no mansion, boat, or Aston Martin and you only make slightly more than the average household income and you're not even 30. All jokes aside I'm around the same age and I'd say you're doing just fine. I'd bump your retirement contribution up immediately though. I find most people under 30 that I know don't even have retirement savings. The difference between increasing now vs a few years will be drastic in the long run. Here's an example just to illustrate what the difference could look like. Everyone's numbers will vary but you get the idea. 
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Posted: 2/20/2017 10:32:09 PM EDT
[#38]
Quote HistoryQuoted:
You are doing the right thing. (edit: I did not see the $1200/mo bar tab, that's pretty much the dumbest way to spend money possible) Keep saving, maximize your retirement contributions, and live below (not within) your means. When I was your age, I made a similar salary. My former co-workers, who also made a similar salary, were buying homes for $350,000 or more. I thought it was insane. 5 years later, nearly all were for sale to down-size, short-sale, or were in foreclosure. Like you, at that time, I also could not understand how people could afford to buy an average home. Keep in mind that you're already making $56k at 27. By the time you're 40, you'll likely be making $100k or more and you'll also have a lot more in savings. If you choose to wait to buy a home, the larger down payment and your much higher future income will allow for a more manageable mortgage payment on a nicer home. Correct. And folks my age have $400-$500 a month on car payments, and buy huge starter homes and get a dog or two and then they have a child or two. Oh, some get a nice bailout from their parents, but if you're not fortunate, and I am not, you'd be choking to death in debt til you're dying day. |
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Posted: 2/20/2017 10:35:20 PM EDT
[#39]
Quote HistoryQuoted:
his new gal is going to hamstring his mobility like they all do and he'll be stuck in whatever bullshit position he can manage to keep her in that big house all the while being poor. OP, build the skills, save money and tap and forget for 8 years. At 35 when you have $300k in the bank, raise your expectations and start dating 7-8s. My poor father stayed poor and kept my mother in an oversized house. What a waste of money. Also, I would say yes, lower the expectations on the female front.. I've been fortunate in that I've found nice girls that are not hot, and had lots of great times and memories with them. Hot at this age is like a supercharged dodge; ready to blowup and breakdown after some low mileage and high payments. |
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Posted: 2/20/2017 10:35:40 PM EDT
[#40]
Quote HistoryQuoted:
So two years ago he was 28 and now he's 27? Quote HistoryQuoted:
Quoted:
He's been asking GD for years. http://www.ar15.com/forums/t_1_5/1701913_I-made-45k-this-year-and-only-saved-3500 So two years ago he was 28 and now he's 27? Is this Arfcoms 2nd or 3rd time traveler? |
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Posted: 2/20/2017 10:38:33 PM EDT
[#41]
Your retirement plan sucks.
If your company matches any amount and you aren't contributing at least that amount you are losing money you could otherwise be getting. Always contribute at least the matched amount. If you can afford it, and you can, you should be putting 10-15% of your pre-tax pay into a 401k or similar. Your savings account is accruing a little bit of interest buts its pennies compared to a well managed fund. With your marital status and pay you can contribute some amount to a Roth 401k. This money will be post-tax now, but is not taxed on withdrawal. If your 10-15% exceeds the allowed amount for a roth, put the rest into a traditional 401k. This money will be pre-tax now, and will be taxed when you withdraw it. The downside to this is that you are taxed on the interest built up. Build up retirement savings now. The interest these accounts accrue is compound, so the sooner you can get money in these accounts the better. Time is your friend and you'll have way more money when you retire than if you just put it all in a savings account. |
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Posted: 2/20/2017 10:40:37 PM EDT
[#42]
I would be looking for new work. I was making 42k/yr at 27, with 40k in the bank. Picked up a 1200/mo mortgage payment (put 30k down), now im 30 making 60k/yr (not bad for a GED), currently have 30k in savings (after putting 10k down on a new vehicle and adding a 540/mo payment {mistake}) Money is going to be tight for the next 2 years, but then I hope to sell the house, have a newish car thats paid off, and move cross country with the gf.
Anyways, I have been able to have some fun (reeled it in a bit from my early 20s), and still put 1k/month away on avg. What I would do in your spot is look into a CD you can sock money into every month. Put $500/check $1000/month in a fund and ignore it. If you can take a loan on your retirement, max that out instead. You should have enough money to play tax games. |
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Posted: 2/20/2017 10:43:12 PM EDT
[#43]
Quote HistoryQuoted:
Fucking stop that bullshit thinking right now. The options get BETTER after 30 man, especially once you get more world wise and have traveled some. OP, get in the gym and start lifting. Make more money. No excuses. Yupppppppppp! Get your finances in order, learn to be more humble and save money... but go savage at the gym. You can read Stronglifts.com for free, or do the smart thing and buy the "Starting Strength" by Mark Rippetoe. $50 a month at a gym with a barbells... will do more to get you laid than an equivalent $2000/month in income IMHO. One of workers who is a disabled veteran went from Mr. Friendzone to Mr. 6 Girlfriends at once in the course of a year all because he started lifting. The best part with barbells is that if you do it right, it's not even a very strenuous challenge. OP: Do not do not do NOT blow your money on frivolous expenses and things... trying to attract expensive, frivolous women. I got lucky! My girl knows the value of hard work, has good values, likes guns, and is a part time model LOL... and let me tell you sir, you are definitely financially better off than I am at this time! |
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Posted: 2/20/2017 10:43:59 PM EDT
[#44]
Crank up the 403b to the maximum; get a part-time job to off-set it. Do it while you are young.
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Posted: 2/20/2017 11:01:12 PM EDT
[#45]
The people telling the OP that he is doing well, please explain what he is doing well in? He has saved a whopping 15k at the age 27 while having only a 300 dollar a month rent. The OP is doing horribly. Honestly he should have 50k at least saved by this point in a 401k and some money in a Roth IRA(roughly 10k) before I am going to tell the OP he is doing well in his situation.
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Posted: 2/20/2017 11:04:43 PM EDT
[#46]
Quote HistoryQuoted:
I'm not denying that I've made some bad choices...but I'm trying to make the right one here, and that's what is frustrating me. The average *household* income in my area is 56k, and the average home price is 195k. I just can't fathom how that's possible, other than most people don't live like we do here... Quote HistoryQuoted:
Quoted:
Quoted:
Lol wut 3% down, pay PMI or just get an 80/10/10 loan You must be BLOWING a ton of money if you can't afford a $1500 note ETA: 200k, $10k down, keep $10k in the bank for emergencies $1190 PMT I have four dependents making less than you and my rent is around a G. You could probably swing $300k + Something's fucky WTF are you doing with $3k/month I've grossed around or just over $100k each of the last several years. I would not be comfortable with a $1,500 mortgage. I wouldn't be able to sleep at night trying to make that payment on a $56,000 gross salary. People buying $300,000+ houses on $50k salaries led to bad times for many about 10 years ago. I'm not denying that I've made some bad choices...but I'm trying to make the right one here, and that's what is frustrating me. The average *household* income in my area is 56k, and the average home price is 195k. I just can't fathom how that's possible, other than most people don't live like we do here... Live like we do here? You seem to live like those people in your area do.... Irresponsibly. They live in the edge of responsibility with their mortgage whereas you do it with other stupid shit. I would argue that the people in your area are at least being more responsible that you by building equity in an asset as opposed to you who leaches off your family and blows money on dumb shit |
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Posted: 2/20/2017 11:07:34 PM EDT
[#47]
Quote HistoryQuoted:
$9k/yr and you're uncomfortable at 17% for a mortgage? Conventional financial advice says you should be comfortable at twice that... Quote HistoryQuoted:
Quoted:
I've grossed around or just over $100k each of the last several years. I would not be comfortable with a $1,500 mortgage. I wouldn't be able to sleep at night trying to make that payment on a $56,000 gross salary. People buying $300,000 houses on $50k salaries led to bad times for many about 10 years ago. $9k/yr and you're uncomfortable at 17% for a mortgage? Conventional financial advice says you should be comfortable at twice that... Where are you getting 9k a year? A 1500 mortgage is 18k a year. On a 56k salary, that is 33% of your salary before taxes. Take income tax into account and it's over 40% of your take home. Yeah that is not exactly comfortable |
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Posted: 2/20/2017 11:12:58 PM EDT
[#48]
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You don't make enough to worry about a Roth, max out your 401k first, then a traditional IRA so you can further reduce your tax liability. You can create a roth when you make more than 85k or whatever the max AGI is. Or, create a roth after many years of following the advice in my first sentence you have so much in your 401k it makes sense to quit your job and create a 401k ladder. If you aren't unhappy where you live stay there as long as the rent is $300 and do what I spelled out in my first sentence, then retire early and freebase cocaine on a yacht with eastern european women and post about it in gd. Quote HistoryQuoted:
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My answer was different before I saw how much you blow on drinking and women. You are an idiot, but luckily there is still time since you are only 27. You need be putting at the least the amount into your company retirement account to get the full match. If it's a shitty plan just do that. If it's a good plan with low cost funds in it I would say at least 10% preferably 15%. Fully fund an Roth IRA every year at 5000(I believe) a year. If you sign up right now for a roth IRA you can contribute for 2016 and 2017. Take 5K of your savings and start the Roth IRA right now. Leave the rest in savings for an emergency fund. Stop spending that much money on women and booze right now. You can wine and dine women and buy beer at the grocery store for a 1/4 of the amount you are spending right now. If you want a house stop blowing over 1K a month and you can have a down payment very quickly. You don't make enough to worry about a Roth, max out your 401k first, then a traditional IRA so you can further reduce your tax liability. You can create a roth when you make more than 85k or whatever the max AGI is. Or, create a roth after many years of following the advice in my first sentence you have so much in your 401k it makes sense to quit your job and create a 401k ladder. If you aren't unhappy where you live stay there as long as the rent is $300 and do what I spelled out in my first sentence, then retire early and freebase cocaine on a yacht with eastern european women and post about it in gd. This is bad advice. There is no reason to max out a 401k before utilizing an IRA. Get your employer match and then I would look at a Roth IRA for the OP. OP doesn't make much money, so he is better off paying the income tax now with a Roth IRA while his tax bracket is low as opposed to down the road when he will probably be in a higher tax bracket. He will also have more investment options at lower fees with a Roth IRA and finally if he ever needs to access any money for an emergency, he can withdraw any of the principle from the Roth IRA with zero penalty. |
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Posted: 2/20/2017 11:24:11 PM EDT
[#49]
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The people telling the OP that he is doing well, please explain what he is doing well in? He has saved a whopping 15k at the age 27 while having only a 300 dollar a month rent. The OP is doing horribly. Honestly he should have 50k at least saved by this point in a 401k and some money in a Roth IRA(roughly 10k) before I am going to tell the OP he is doing well in his situation. I gotta tell ya, not everyone started working at age 21 or 22 straight out of college. I tried running a small business that went tits up, as well as going back to school for another 2 years. I realistically got started AT 26. If he's been working @ $50k/yr since 20-22 sure, but not everyone is blessed to have the correct guidance or mindset at an early age. Oh, and opportunity. |
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Posted: 2/20/2017 11:30:05 PM EDT
[#50]
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Never understand the need to ask the internet for gratification. Op, I have a bullshit degree, I make 3 times as much as you but I spend like a drunken whore on New Orleans so I have 1/3 of your savings. I truck payment is high, my rent is 1200 a month. My child support is 14,000 a year and will be for the next 6 years. On paper I'm a terrible human. In reality, I still have money, I steadily get promoted, and I have fun and don't give a fuck what GD and all its virgins have to say about it over their tub of lard bellies from behind their ammo forts while their moms make em a late snack. You probably shouldn't care either. Want financial advise? Go to a financial planner and use GD for what it is, a place to come laugh. Nailed it 
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