All you BSDs take note. She has cracked to code:
http://www.cnbc.com/2017/03/24/i-saved-100k-on-30k-salary-here-are-my-money-saving-tips.html
get your furniture from the side of the turnpike.
Sleep on said furniture in a friend’s illegally subletted room!
Put you money to work in high yield savings accounts and CDs
be lucky! For example, a relative may die and leave you $$$
Boom, $100k. We should all live by such an example.
I mean, she makes some fair points and was pretty even keeled by pointing out the furniture thing as an example of going too far. That being said, the inheritance thing is hard to get around.
Anyhow, good for her. Breaking the six figure mark in personal savings is big psychological milestone / achievement, especially by 30 or so.
Very nice. Similar story to this girl, who paid off 220k in 3 years…
She cracked the code too… her tips:
1.) Get your mom to give you a job
2.) Get your parents to give you a piece of real estate, then rent it out
3.) Move in with your parents to save rent
4.) Buy another few condos and rent them out
5.) Don’t actually start paying down debt until there are several condos which are a result of your parents having given you one to begin with, and the subsequent cash flows, then being able to pay off the 220k at ~10k/month.
Basically, do an LBO.
I’ve actually been pondering lately how many of these <35 year old finance professionals around here are >$100k retirement in savings
wish i was hitting anywhere near that number as i reach 30. Will be nice to get the 7k a year in student loans im paying off my back, thatll help
Yeah, student debt is a huge factor. I was lucky in that regard, it’s gotta be tough.
I am skeptical of the story and suspect that the savings are augmented by personal cuddling fees.
Yes, do you have any questions?
Sure, the tips are fine, I guess. However, she basically got an inheritance while she was in college and probably received the gift exemption amount every year thereafter…so, basically she managed to not squander the inheritance, hooray
Why would there be a question?
I see what you’re saying and agree it’s a misrepresentation, but at the same time, living in NYC on ~$30k a year and not squandering inherited funds is actually a pretty fair achievement.
I had $140,285.68 in my 401k about 2 weeks after my 35th birthday.
jesus christ yall mofos some BSDs
^ As I do not invest elsewhere, I’ve always maxed my contribution every year. I don’t live in NYC though.
agreed, it’s the misrepresentation that bothered me.
Student debt is a big factor. It’s an unfair comparison otherwise.
LMAO, I have never seen savings so small is that in thousands??
I had a lot of hardship withdraws after my accident.
True, i suppose if I had none and plowed that money into savings I could have accumulated quite a bit more. Still early/mid 20’s me likely would have spent it on vacations/blow so its not like I can really play woe is me to why ive saved so little.
What was your accident?