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sighyoung wrote:

planet pujolsian wrote:

Leroy wrote:

sighyoung wrote:

Michael wrote:How will the "planet pujolsian" years be remembered? My guess is annoying.

With therapy, I think we'll be able to move past them.

Planet's or ours? I don't have that kind of cash, considering that my Amway franchise is tanking. I do have one on the hook for some toilet bowl cleaner, but it may be too good to be true.

Coffee's for closers, Leroy. Now go out there and pimp that toilet bowl cleaner like you've never pimped before.

Gloves are off, Michael. I'm launching my version of the pink slip virus with your head that's in my avatar.

I like to think that I served as a catalyst for this moment.

I would too. But I don't.

why not

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planet pujolsian wrote:I didn't necessarily put a lot of stock into the 25 yr. theory, but I do think we're in for a rude awakening. I also am something of a paranoid when it comes to money matters. When I read Money magazine and they profile couple who are 26 and 27 years old with 150k in savings/investments, I feel woefully inadequate.

I don't know if this would be incredibly hard, when you break it down. Assuming these things:

-- Graduated from college at 21/22
-- Starting pay around $50k each. With decent raises, they've reached $60k each after 5 years.
-- Got married when they graduated college, and didn't spend much on the wedding
-- Had plenty of scholarships and monetary help from parents, so no school loans
-- Bought cars (say $10k each) and a house (say $150k) well within their means for a young married couple
-- Both have quality 401k matching from their companies--full 6%.

Now let's run some numbers.

Since they live well within their means and don't have any school loans to pay off, they're able to each contribute 12% to their 401k, and an additional 10% of their salary to other savings. With the company match, this comes to $99k in their 401k's, and $55k in their other savings. That's $154k total before interest being applied.

But, that's driving around in a $10k car each, living in a $150k house, and getting some help with their school bills. If you get married young and can live in this type of situation (and get some luck with getting a good job like that out of school, and having your school bills paid), it isn't overly hard to have that much money saved up before 27.

I'm not one to talk though. I have splurged on a bit nicer things for my lifestyle along the way, and I'm not married (nor did I have my school paid for). I don't think I'm doing bad though as a 28 year old, being in the working world for 6.5 years now. I don't want to say how much I have banked up, but I'm comfortable with it at this point. One investment along the way really helped me out though, otherwise I wouldn't have nearly as much in savings as I would like.

I do know people who have good jobs though, and cut corners everywhere to bank up huge sums of money in their 20's. I don't fully understand it. I'd rather spend my money when I'm young enough to enjoy it a bit more than when I'm older. Plus the fact that my genetics don't exactly point to me having a long healthy life.

Leroy wrote:maddash is going to be thrilled with the turn of events that this thread has taken.

It's understandable that you folks in the proletariat would be the first to slip into denial, Leroy.

Of course, that's what us in the bourgeoisie planned to happen all along... Keep the minds of the commoners occupied while we buy up the fiddle surplus and bring the hoedown/hootenanny market to a crashing halt.