Quote:
Originally Posted by DAVES
Simply that is not so. When, I graduated college, 1974 the economy, was in recession, and I had spent years of saving from WORK, on college. I owed on top of what my parents paid, my savings, and working part time, 13,000 in loans. Definition of a loan, a bank lends you money, charges interest and expects YOU to pay it back. Aside, 13,000 is roughly 78,000 today. I more or less followed a simple plan. It is outlined in a book that I no longer recall the title. You save 10% of your income and live on the rest. It is not easy but it has and does payoff. My advice, refuse to fail, life is not fair, it never was, deal with what is not what should be. Our nation is loaded with opportunities too many walk past them, do not see them, because they expect a handout.
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Agreed.
One of my daughters works for a non-profit, in DC. Decent salary, but not huge by any means.
When she started, she put 3%/year away for retirement and her company matched it. The next year she upped it to 6% (they matched it, which was their max). Then she went to 10%, so 16%/year in total in her 401k. She was also able to save enough to buy a 1 br condo. She's 32, has over $100K in savings and her pension.
She used to only go to happy hours where they had specials. Same with eating out. They all knew where the bargains were.
She's getting married next month and will rent out her condo (for a profit) as it's a bit small for two people...