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Posted: 2/20/2017 11:35:00 PM EDT
[#1]
Quote HistoryQuoted:
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. Quote HistoryQuoted:
Quoted:
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. Fair enough but OP posted this over two years ago: "I make roughly 45,000 a year. I am right smack in the middle of average income for my area. My tax rate is roughly 30% of my total income- 30% times 45,000 is what I pay. I am a single 28 year old male with a bachelors degree and no student loans. I lease my car and it costs 389 a month. I have 2 other cars as hobbies and spend on average 2-500 a month related to them. I don't have cable, I do have a smartphone and pay for internet. It's disgusting...the blame is clearly on me but it's just pathetic to realize what I've earned and saved." So not only is he getting younger, he is making more money... So double win? 
I honestly believe the OP is 30 or so and is ashamed of his life so far, so he is saying he is younger to make it seem like he is farther along than he is. Assuming he is 30, he claims the following: -makes 56k -no student loans -leaches off his family so that his rent is only 300 -no significant other -no real money saved for retirement -15k in savings Not exactly an impressive resume for a 30 year old. With his expenses he should be able to save up 15 k in a year easily. The fact that the OP continually creates threads looking for validation of his finances while changing details over the years tells me that he knows he is doing a poor job but would like validation that it's not so bad and he is doing ok |
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Posted: 2/20/2017 11:35:47 PM EDT
[#2]
You should get a better degree than business management
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Posted: 2/20/2017 11:37:31 PM EDT
[#3]
Quote HistoryQuoted:
You should get a better degree than business management Nope. Fuck it, might as well join the Army while he still can. |
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Posted: 2/20/2017 11:38:49 PM EDT
[#4]
Quote HistoryQuoted:
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. Quote HistoryQuoted:
Quoted:
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. Nailed it. I graduated college I. 2011. From 2011 to 2013 I made under 15k a year. Starting in 2014 I made 40k. In 2015 I made 46k. 2015 was 48k and 2016 was 56k. Not bad I don't think... |
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Posted: 2/20/2017 11:39:52 PM EDT
[#5]
Brother you're doing great.
You absolutely MUSTACHE increase your 403/retirement plan contributions. You're pissing away free money by not taking advantage of the matching. Increase it tomorrow! |
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Posted: 2/20/2017 11:40:59 PM EDT
[#6]
Quote HistoryQuoted:
Nailed it. I graduated college I. 2011. From 2011 to 2013 I made under 15k a year. Starting in 2014 I made 40k. In 2015 I made 46k. 2015 was 48k and 2016 was 56k. Not bad I don't think... Quote HistoryQuoted:
Quoted:
Quoted:
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. Nailed it. I graduated college I. 2011. From 2011 to 2013 I made under 15k a year. Starting in 2014 I made 40k. In 2015 I made 46k. 2015 was 48k and 2016 was 56k. Not bad I don't think... How old were you in 2014 op? When did you buy your time machine? |
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Posted: 2/20/2017 11:43:41 PM EDT
[#7]
Consider this: Look for a townhouse duplex. Buy it. Rent the other side at a price that will hopefully pay your mortgage. Or mortgage minus your 300 you pay.
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Posted: 2/20/2017 11:44:26 PM EDT
[#8]
Not too bad.
Now start setting up your retirement: 1) $5,500 into a ROTH IRA. I have Vanguard mixed in target and S&P 500 index. 2) Put whatever else you can into your 403B (up to $18.5K IIRC). If you are saving for a house I would say to throw it into another S&P fund as an investment vehicle. Earning 0.1% in the back is making that savings lose money every year it is stashed. Keep $10k and start earning with the rest. |
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Posted: 2/20/2017 11:52:18 PM EDT
[#9]
Quote HistoryQuoted:
You need to save for retirement yesterday. Tomorrow is too late. You are missing out on the most beneficial factor of wealth...TIME. |
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Posted: 2/21/2017 12:14:07 AM EDT
[#10]
Quote HistoryQuoted:
I have only recently started saving...in my last relationship I was spending 1200+ a month on bar tabs, dinners out, vacations etc. That's beyond batshit insane. You, not her. Obviously she was a good at being a golddigger, you on the other hand choose very poorly. There's a lot of better uses for that money, such as retirement savings. Which flavor of dogfood do you prefer? Decide now because that's probably what you'll be eating in retirement. |
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Posted: 2/21/2017 12:29:25 AM EDT
[#11]
Quoted:
I'm 27 Single, never married No children I'm salaried at 56k per year. That's exactly what the average household income is in my area. I have 15k in savings, and in savings only. My employer offers a 403b and matches. I don't contribute enough (iirc 3%?) I know I need to improve here. Up until now I've never thought about it and have no idea how much is there. I need to work on this. No debt of any kind (CC, mortgage, student loans) I have three cars. All are paid off. I plan on selling my extra soon, I have no need. The third is a classic car that I inherited and can't sell for sentimental reasons. My rent is 300, insurance 100 and cell phone and internet 100 combined. I have a bachelors degree in my field. (Business management). My current role is mid level management for an organization that has never had a layoff in its existence. I have a resume that shows solid gains and represents an up and coming employee. The average home price is 195k. Am I doing alright? My gut says: "OK; slightly better than mediocre" Rent is very cheap. Pay, slightly better than average. Savings is abysmal, but at that age? meh, maybe not so bad?  Retirement: He has no idea?
I guess this thread is about your recent epiphany that you aren't a kid any more? That's a good thing, and it's just in time. You are right at that age and income bracket where you could choose to stay amongst the poor, or you could choose to begin clawing your way into the middle/upper middle class. |
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Posted: 2/21/2017 12:31:15 AM EDT
[#12]
With how low your expenses are, you should be saving/investing significantly more money.
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Posted: 2/21/2017 12:33:59 AM EDT
[#13]
Quote HistoryQuoted:
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.. 22-23 year olds MATURE in this time we are in. That's a joke. They still want to party. Trust me on that one. |
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Posted: 2/21/2017 12:42:00 AM EDT
[#14]
Quote HistoryQuoted:
OMG that's the last thing he needs, some chick sinking her claws into him. He should be building his wealth and skills right now, not raising a family/supporting dependents. Dont even consider a wife until you're over $100k dude. Also, find one who has education and skills too otherwise you'll have a huge liability if she decides to leave you. If you end up with a smart/hard working lady then she won't be a liability, she'll be an asset. My wife makes 6 figures and put in $150k cash toward the purchase of our house. |
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Posted: 2/21/2017 12:44:32 AM EDT
[#15]
OP,
here's your problem, you've got something weird going on... https://www.ar15.com/forums/t_1_5/1844211_-ARCHIVED-THREAD----How-is-home-ownership-possible-.html&page=1 http://www.ar15.com/forums/t_1_5/1951042_How-far-away-am-I-from-buying-a-house-.html Every few weeks we don't need to hear you pissing and moaning about buying a house, that's what a therapist is for or friends. |
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Posted: 2/21/2017 7:50:54 AM EDT
[#16]
Quote HistoryQuoted:
OP, here's your problem, you've got something weird going on... https://www.ar15.com/forums/t_1_5/1844211_-ARCHIVED-THREAD----How-is-home-ownership-possible-.html&page=1 http://www.ar15.com/forums/t_1_5/1951042_How-far-away-am-I-from-buying-a-house-.html Every few weeks we don't need to hear you pissing and moaning about buying a house, that's what a therapist is for or friends. I miss his old job threads. http://www.ar15.com/forums/t_1_5/1296972_What's-a-good-job-for-a-college-grad-with-no-experience? http://www.ar15.com/forums/t_1_5/1278182_I-don't-even-know-how-to-find-a-job http://www.ar15.com/forums/t_1_5/1272916_What-is-a-good-job-for-a-just-graduated-college-student? http://www.ar15.com/forums/t_1_5/1371847_How-much-money-would-it-take-you-to-work-9-5-on-the-weekends? http://www.ar15.com/forums/t_1_5/1356427_Are-jobs-with-40-hrs-a-week-and-weekends-off-a-thing-of-the-past? |
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Posted: 2/21/2017 8:08:14 AM EDT
[#17]
Quote HistoryQuoted:
You should get a better degree than business management Why? |
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Posted: 2/21/2017 8:21:52 AM EDT
[#18]
Save a quarter.
And get a financial advisor. |
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Posted: 2/21/2017 12:57:19 PM EDT
[#19]
Quote HistoryQuoted:
Nailed it. I graduated college I. 2011. From 2011 to 2013 I made under 15k a year. Starting in 2014 I made 40k. In 2015 I made 46k. 2015 was 48k and 2016 was 56k. Not bad I don't think... I grabbed an MBA along the way and 'skipped' the $15k/yr jobs. It's not the $55k/yr jobs that are hard to find.. it's the $80-100k/yr that are the tough jump and the ones that are worth while. Want to be able to come up for air; $80k, want to be able to have a few hobbies along the way while saving well; $150k+. Gov't takes so god damn much of it along the way anyhow... |
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Posted: 2/21/2017 12:57:52 PM EDT
[#20]
Quote HistoryQuoted:
Consider this: Look for a townhouse duplex. Buy it. Rent the other side at a price that will hopefully pay your mortgage. Or mortgage minus your 300 you pay. This is exactly what I'd like to do myself- need to make sure I'm at a place of employment that I enjoy/like as well. |
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Posted: 2/21/2017 1:00:22 PM EDT
[#21]
Quote HistoryQuoted:
22-23 year olds MATURE in this time we are in. That's a joke. They still want to party. Trust me on that one. Date one that doesn't have party money that is in school. |
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Posted: 2/21/2017 1:07:19 PM EDT
[#22]
Quote HistoryQuoted:
I miss his old job threads. http://www.ar15.com/forums/t_1_5/1296972_What's-a-good-job-for-a-college-grad-with-no-experience? http://www.ar15.com/forums/t_1_5/1278182_I-don't-even-know-how-to-find-a-job http://www.ar15.com/forums/t_1_5/1272916_What-is-a-good-job-for-a-just-graduated-college-student? http://www.ar15.com/forums/t_1_5/1371847_How-much-money-would-it-take-you-to-work-9-5-on-the-weekends? http://www.ar15.com/forums/t_1_5/1356427_Are-jobs-with-40-hrs-a-week-and-weekends-off-a-thing-of-the-past? Isn't he the Range Rover guy too? |
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Posted: 2/21/2017 1:11:59 PM EDT
[#23]
Quote HistoryQuoted:
Isn't he the Range Rover guy too? May be funny to pick on the guy but if he lives or lived in NY and not NYC, totally dead as far as opportunity. If he didn't do extremely well in his program or go to a school that set him up with a great job upon exit, another dead opportunity. If he didn't have parents with connections in the area, another dead opportunity. Connecticut; which I am leaving - has a few things: a circuit of $40-50k/yr small business jobs, $80k/yr insurance jobs, and a small handful of aerospace/engineering that runs solely off of government contracts via the bigger buyers like Pratt and Whitney, Sikorsky, etc. If you do not graduate with an engineering degree, OR vetted through UCONN BUSINESS SCHOOL, you're in tough shape around these parts. All of the 26-28 year olds that have $50-100k saved were vetted into $80k+ jobs out of school via their parents or very close family members. Looks like a caste system up here unless you're an absolute over achiever in school. |
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Posted: 2/21/2017 1:19:00 PM EDT
[#24]
Op is in a very similar situation that I am in, but I'm about ten years older, make less, and have more stashed away in the bank.
I'd say he is doing well considering he has room for advancement and more pay. I'm topped out in pay with my company and education, so the only way to go is down for me. |
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Posted: 2/21/2017 1:20:40 PM EDT
[#25]
OP, you are doing great at everything except for keeping your stories straight.
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Posted: 2/21/2017 1:24:06 PM EDT
[#26]
If you are renting your parents house, you must not be doing that good.
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Posted: 2/21/2017 1:55:43 PM EDT
[#27]
Quote HistoryQuoted:
Isn't he the Range Rover guy too? Yes. https://www.ar15.com/forums/t_1_5/1476656_.html&page=1 |
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Posted: 2/21/2017 1:57:58 PM EDT
[#28]
Minimal debt is good.
You need to start saving for retirement though. 10 to 15% is a good starting point. |
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Posted: 2/21/2017 5:52:04 PM EDT
[#29]
Quote HistoryCan't defend you anymore OP. Driving a Range and taking the lady out for $1200/mo in bullshit. I hope she was a porn star. |
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Posted: 2/21/2017 8:26:25 PM EDT
[#30]
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. |
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