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re: "If You Have Savings In Your 20s, You’re Doing Something Wrong"

Posted on 9/17/15 at 7:10 am to
Posted by jrodLSUke
Premium
Member since Jan 2011
22286 posts
Posted on 9/17/15 at 7:10 am to
quote:

Friend needs shoulder surgery. Hi-deduct plan of $7000 then 80-20 split.

If your friend had not voted for Obama, it would cost a $20 copayment.
Posted by CidCock
Member since Sep 2007
Member since Feb 2011
8631 posts
Posted on 9/17/15 at 7:27 am to
quote:

I wish I would have spent more money in my 20s, especially on shite that I didn't need but wanted

because once you get married and have kids, the shite that you want but don't need...yeah, you are not getting it

I regret being smart and hoarding money when I was younger. Well...I don't regret all of it, just wish I would have spent a little more on myself when I could.




I kind of agree, 31 now. Was able to buy a house, sell it, and put a large down payment on my current home.

But yeah, now we have a baby and wife works part time, so money is a lot tighter. When I was making decent money and was single, I could have done whatever I wanted. Now, not so much...
Posted by WeeWee
Member since Aug 2012
40213 posts
Posted on 9/17/15 at 7:57 am to
quote:

If You Have Savings In Your 20s, You’re Doing Something Wrong"


If you are in your 20s and taking financial advice from someone else in their 20s you are doing something wrong.


I really hate my generation.
Posted by icegator337
Lafayette
Member since Jan 2013
3511 posts
Posted on 9/17/15 at 8:07 am to
quote:

Your 20s are not the time to save; they’re the time to gamble


says the broke 28 year old author
Posted by Pectus
Internet
Member since Apr 2010
67302 posts
Posted on 9/17/15 at 8:13 am to
Then call me a wrongdoer!
Posted by el Gaucho
He/They
Member since Dec 2010
53182 posts
Posted on 9/17/15 at 8:16 am to
If you aren't making six figures by your late 20's you need to reevaluate your life
Posted by LNCHBOX
70448
Member since Jun 2009
84376 posts
Posted on 9/17/15 at 8:22 am to
quote:

If you aren't making six figures by your late 20's you need to reevaluate your life


Stealing other posters' material now? For shame. It wasn't funny when Athenos said this years ago, and it's snot funny now.
Posted by WG_Dawg
Hoover
Member since Jun 2004
86577 posts
Posted on 9/17/15 at 8:23 am to
quote:

I'll start saving for my golden years when I hit 55





Posted by upgrayedd
Lifting at Tobin's house
Member since Mar 2013
134986 posts
Posted on 9/17/15 at 8:28 am to
If you want to take financial advice from someone who penned her bio as

quote:


Lauren Martin is a Senior Lifestyle Writer at Elite Daily. After graduating from PSU, she moved to NYC to write fart jokes at Smosh Magazine. Making her way to ED, she now writes riveting commentary on nude pics, condoms and first dates.


then be my guest.
Posted by WeeWee
Member since Aug 2012
40213 posts
Posted on 9/17/15 at 9:12 am to
quote:

This is the bio for the author. Doesn't surprise me.

Lauren Martin is a Senior Lifestyle Writer at Elite Daily. After graduating from PSU, she moved to NYC to write fart jokes at Smosh Magazine. Making her way to ED, she now writes riveting commentary on nude pics, condoms and first dates.


Fart jokes, nude pics, and condoms?







































That sounds like a great first date
Posted by lsuhunt555
Teakwood Village Breh
Member since Nov 2008
38418 posts
Posted on 9/17/15 at 9:18 am to
Well im glad to hear I did something in my 20s right then.
Posted by Artie Rome
Hwy 1
Member since Jul 2014
8757 posts
Posted on 9/17/15 at 9:19 am to
quote:

They consider interacting with people in bars and clubs to be "networking".


I networked way too hard in my 20's.
Posted by jlu03
San Diego
Member since Jul 2012
3321 posts
Posted on 9/17/15 at 9:25 am to
quote:

I am in my 20s and save a tremendous amount. I can also afford to buy a ticket to Tokyo and jump on a plane first thing tomorrow if it was something that interested me.


Helping out the Japanese porn crisis??
Posted by UGATiger26
Jacksonville, FL
Member since Dec 2009
9054 posts
Posted on 9/17/15 at 9:29 am to
quote:

Americans live to work, and Europeans work to live. I refuse to wait until retirement to enjoy the fruits of my labor. If you're always saving for a rainy day, all you're going to have are rainy days.


If you're not saving, then prepare yourself for the possibility that a rainy day could become a fricking hurricane real quick for you.

Easy to say "I'll save when I'm older," when you're in your twenties, but most people will likely be signing a different tune by the time they hit their 40s and 50s.

20 or 25 years is a loooong time to have money saved up for. I'm sure having to depend on your social security check to afford groceries can get old real quick.
This post was edited on 9/17/15 at 9:30 am
Posted by Bmath
LA
Member since Aug 2010
18687 posts
Posted on 9/17/15 at 9:38 am to
quote:

He is having to take out a loan of $6000 at 9.65%.


They don't have payment plan options? What about CareCredit?

There must be a better option.
Posted by AUCE05
Member since Dec 2009
42582 posts
Posted on 9/17/15 at 9:43 am to
I see most of you fail to understand compounding interest. Those not saving will spend their parents inheritance, and be the assholes who leave their kids nothing.
This post was edited on 9/17/15 at 9:56 am
Posted by TxTiger82
Member since Sep 2004
33963 posts
Posted on 9/17/15 at 9:44 am to
I spent most of my 20s traveling. I worked in soul-sucking office jobs, lived in shitholes, and never went out with my friends in order to save the money. Once I had a nice sum, I'd take off for 6 months to a year at a time.

Can't say I regret it. I had some experiences few others can say they have had. But now that I'm in my 30s, sometimes I think about how much better my financial situation would be if I had saved more in my 20s. Nothing comes without a cost.
This post was edited on 9/17/15 at 9:46 am
Posted by dagrippa
Saigon
Member since Nov 2004
11305 posts
Posted on 9/17/15 at 9:45 am to
Lauren has several maxed credit cards and has Etsy and several designer shoe companies bookmarked in her favorites.
Posted by mattz1122
Member since Oct 2007
52895 posts
Posted on 9/17/15 at 9:46 am to
Great article. I spend all my money on my 20-year-old 3-series BMW and the endless repairs it requires because I want people to think I have money.
Posted by WG_Dawg
Hoover
Member since Jun 2004
86577 posts
Posted on 9/17/15 at 9:46 am to
quote:

I see most of you fail to understand compounding interes


People like moto who have plenty of money now think it's easy to say "well I'm well off, I'll just throw a shite ton of money into retirement when I'm 50 so by the time I'm 60 I'll be set". What they don't realize is that just by putting even a little bit into retirement at an early age, you'll end up having FAR more over the long haul.
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