awval999 wrote:The hardest thing for new posters to understand; is that this forum is composed of the creme of the crop savers. Literally, the 1% of savers.
Just like a bodybuilding forum is composed of the most devout and diligent workout-a-holics, or the gardening forums is composed of gardeners with the nicest and most beautiful gardens, or the Lego forums are composed of hand built 10,000+ piece works of art... a new member will feel inadequate. In fact, some people here take saving--in my opinion--to an unhealthy obsession. And no doubt, on any other hobby forum you will find those who are addicted to that specific hobby as well.
The main take away theories of this forum still hold true though:
1. Costs Matter (ie: index funds)
2. Save early and often
3. Live within your means; specifically the Big 3 (Cars, House, Student Loans) as they can kill any sort of budget
Some of the topics here give me laughs. Others make me roll my eyes. It's still an enjoyable community.
First of all, I want to apologize to everyone for the long novel below. I am long winded and ramble on too much. Kudos to anyone who sticks with it and even replies
The above is very true. It also applies to people who don't make as much money etc. It can be very intimidating and even if you are on cloud 9 thinking you are doing great, reading some stuff here can make you feel like you aren't in that good of shape financially.
You really can't think that. Just by being on this forum, you are in better shape than say 80% of the country. Knowledge, behavior, will power, time, and decisions are the things that will get you lots of money. People used to rip on me because my mom had money, and thought she gave/bought me everything I have/had, which isn't' true. I tell people what my mom did give me was knowledge, not money. She taught me about money and how to handle it at a very young age, as well as giving me a great work ethic. I really try hard to pass it on to my friends and family, but they usually want 0 part of listening whatsoever. Very frustrating.
I need to take my own advice about comparing situations, because I'm constantly worrying about my financial situation and future. Probably because a big part of my income is dependent on getting a lot of overtime and extra hours at other jobs (PRN/as needed in the medical field) which causes me to feel unsure of my future. I've been wanting to make a post here and have people tell me how I'm doing because I worry. Then I see this thread and see millionaires and people with hundreds of thousands saved at 30 and I feel like crap lmao..... But this forum is probably the top 10% of the earners and savers, or at least comparable to the top 10% or so. No idea on the %, but I'm just saying the only people who come here are the ones making a ton of money and want to learn/know what to do with it, and people who are natural born savers/investors no matter what the income is. So long story short, just by being on this forum you are giving yourself the tools to succeed in life with the best of them.
Single. Just turned 31. Only made about 30k at best in my early-mid 20's. Saved, but didn't really invest. At 25 I choose to back to school and at the same time invested 10k in a Roth at Vanguard for 09/10. I graduated in '13 at 28. Made 30k or so my first half year in '13, at 29/'14 I made just under 50k. At 30, I got a new job making more money, started working crazy overtime and extra PRN/as needed at other jobs when I could, I worked 70-90 hours every week of the year. I made 113k Last year. Probably on pace to make more this year. I make 30/hr at my full time job, 35/hr at my PRN jobs. I usually work 70+ hours a week still.
No debt of any kind. 13 Cruze Eco, 02 Z06, 95 Z28 all paid off. Next category will change this
I rent for $695/mo but I'm looking for a house with a 3 car garage. Probably will cost 250-300k ish with a 5k yearly tax bill.... :/
43k (maxed for 09/10, no income/contributions in school for years 11 and 12, maxed every year since starting with '13)
14k (just started this about 9 months ago ish...I max my contributions 18k a year/ 1500/mo
78k (Just started this 4/14)
5k (Just transferred 15k to brokerage a few days ago after the Brexit thing)
My biggest knock is I'm a car nut. Cars cost a lot of money....working in the healthcare field I realize your tomorrow's are never guaranteed and you can die at any time. So I'm going to try to save as much as I can, while still enjoying life. I plan to buy a new Corvette in a year or two and sell my current one. Maybe a new daily driver too. As mentioned above I want a house with a 3 car garage for all my toys. Currently I'm working and saving like crazy. I want to be able to enjoy life and enjoy the fruits of my labor since I work so damn much. I'm a frugal bastard with an expensive hobby