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do i save too much?

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Originally posted by: matstars
i really am not tryint to show off, im very lucky i got this sick job, sorry if i look like im gloating, i just hate living at home, but i love it.


i save 500 a paycheck and i set up a scheme where i save 500 here, 500 there, 500 there, basically i max out my roth within the year and the rest gets split to the mutual fund/ing
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So do you hate it or love it? very confused here.
 
Originally posted by: iamwiz82
congrats I guess?

I prefer owning a house, though.
Click to expand...

well i started out with nothing, its kinda hard to get into a house,


i guess...


edit: id prefer living in NYC than in some noname city in michigan (not to crap at your post, just telling my preference)
 
Originally posted by: matstars
i really am not tryint to show off, im very lucky i got this sick job...
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No, tool. You are lucky you live with your parents. You make crap for pay.

 
living at home is a great way to save money. I would to move back home and live under my parents roof, but i'm 400 miles away. so that's out of the question. Once you move out, its gets a lot harder to save, but its definately doable.
 
Originally posted by: matstars
Originally posted by: iamwiz82
congrats I guess?

I prefer owning a house, though.
Click to expand...

well i started out with nothing, its kinda hard to get into a house,


i guess...


edit: id prefer living in NYC than in some noname city in michigan (not to crap at your post, just telling my preference)
Click to expand...

Uhh.. median income here is $75,000 a year. Not really dumpy.

BTW, we are the same age.
 
Originally posted by: iamwiz82
Originally posted by: matstars
Originally posted by: iamwiz82
congrats I guess?

I prefer owning a house, though.
Click to expand...

well i started out with nothing, its kinda hard to get into a house,


i guess...


edit: id prefer living in NYC than in some noname city in michigan (not to crap at your post, just telling my preference)
Click to expand...

Uhh.. median income here is $75,000 a year. Not really dumpy.

BTW, we are the same age.
Click to expand...

its still a noname city

how much did your house cost, how many sqft, did you get any help financially?
 
Originally posted by: matstars
Originally posted by: iamwiz82
Originally posted by: matstars
Originally posted by: iamwiz82
congrats I guess?

I prefer owning a house, though.
Click to expand...

well i started out with nothing, its kinda hard to get into a house,


i guess...


edit: id prefer living in NYC than in some noname city in michigan (not to crap at your post, just telling my preference)
Click to expand...

Uhh.. median income here is $75,000 a year. Not really dumpy.

BTW, we are the same age.
Click to expand...

its still a noname city

how much did your house cost, how many sqft, did you get any help financially?
Click to expand...

$179k

1230 sq ft

Yep, a gift to the tune of 5% of the cost of the home.

 
Grow up and move out. I can't believe ANYBODY is defending somebody who lives with their parents at 23. WTF is wrong with you?
 
Originally posted by: randal
Grow up and move out. I can't believe ANYBODY is defending somebody who lives with their parents at 23. WTF is wrong with you?
Click to expand...

its like people don't know how expensive housing is in NYC, LA, Miami, etc.
 
Originally posted by: iamwiz82
Originally posted by: matstars
Originally posted by: iamwiz82
Originally posted by: matstars
Originally posted by: iamwiz82
congrats I guess?

I prefer owning a house, though.
Click to expand...

well i started out with nothing, its kinda hard to get into a house,


i guess...

Man, I really wish houses here were at that range, I'd so much rather buy than rent, but housing prices are insane here.

edit: id prefer living in NYC than in some noname city in michigan (not to crap at your post, just telling my preference)
Click to expand...

Uhh.. median income here is $75,000 a year. Not really dumpy.

BTW, we are the same age.
Click to expand...

its still a noname city

how much did your house cost, how many sqft, did you get any help financially?
Click to expand...

$179k

1230 sq ft

Yep, a gift to the tune of 5% of the cost of the home.
Click to expand...

Damn i wish housing was that cheap here, oh well
 
Originally posted by: iamwiz82
Originally posted by: matstars
Originally posted by: iamwiz82
Originally posted by: matstars
Originally posted by: iamwiz82
congrats I guess?

I prefer owning a house, though.
Click to expand...

well i started out with nothing, its kinda hard to get into a house,


i guess...


edit: id prefer living in NYC than in some noname city in michigan (not to crap at your post, just telling my preference)
Click to expand...

Uhh.. median income here is $75,000 a year. Not really dumpy.

BTW, we are the same age.
Click to expand...

its still a noname city

how much did your house cost, how many sqft, did you get any help financially?
Click to expand...

$179k

1230 sq ft

Yep, a gift to the tune of 5% of the cost of the home.
Click to expand...

Well it's a lot easier when you're married, which you are, and he is not.
 
Originally posted by: JLGatsby
Originally posted by: iamwiz82
Originally posted by: matstars
Originally posted by: iamwiz82
Originally posted by: matstars
Originally posted by: iamwiz82
congrats I guess?

I prefer owning a house, though.
Click to expand...

well i started out with nothing, its kinda hard to get into a house,


i guess...


edit: id prefer living in NYC than in some noname city in michigan (not to crap at your post, just telling my preference)
Click to expand...

Uhh.. median income here is $75,000 a year. Not really dumpy.

BTW, we are the same age.
Click to expand...

its still a noname city

how much did your house cost, how many sqft, did you get any help financially?
Click to expand...

$179k

1230 sq ft

Yep, a gift to the tune of 5% of the cost of the home.
Click to expand...

Well it's a lot easier when you're married, which you are, and he is not.
Click to expand...


and at this age, who wants to be married 😛
 
Originally posted by: iamwiz82
You don't have to stay there. I'm 100% sure your job is in demand elsewhere, as well.
Click to expand...

i have no desire to live in a city besides NYC, LA, Miami... ive been all around the US, and the world, nothing beats those 3... i choose to live here
 
There's nothing wrong with saving but if you're stuffing it away in a savings account, you're doing yourself a disservice. I hope you're investing that $1000/month somewhere rather than dumping it into a low-interest savings or checking account. Since you work for in the securities industry, I assume you already know this.

Also, at your salary, you're nowhere near maxing out your annual 401k contribution. Go ahead and boost your contribution to 12% or higher.

 
Originally posted by: matstars
Originally posted by: randal
Grow up and move out. I can't believe ANYBODY is defending somebody who lives with their parents at 23. WTF is wrong with you?
Click to expand...

its like people don't know how expensive housing is in NYC, LA, Miami, etc.
Click to expand...

And you have to buy a house at 23? You do know that the overwhelming majority of people do this thing called "rent" before they buy. Have you considered an interest only mortgage? Oh right, of course you won't act your age and rent, because it means that you won't be saving or investing that $1k/mo.

It is very obvious to me that you are running from responsibility and don't want to grow up and do things that - while not the best financial decision ever - are extremely rewarding. You'll feel better about your life once you mature and actually start living it on your own terms.
 
Originally posted by: randal
Grow up and move out. I can't believe ANYBODY is defending somebody who lives with their parents at 23. WTF is wrong with you?
Click to expand...

I think it all depends on the circumstances. If his parents are ok with it, I don't see a problem. Even though the OP isn't doing it, whats wrong with staying at home and saving up for down payment?
 
Originally posted by: matstars
Originally posted by: iamwiz82
You don't have to stay there. I'm 100% sure your job is in demand elsewhere, as well.
Click to expand...

i have no desire to live in a city besides NYC, LA, Miami... ive been all around the US, and the world, nothing beats those 3... i choose to live here
Click to expand...

Those 3 cities are filthy ghettos. Chicago much better than all those of those. Cheaper, cleaner.

If you want cheap, move to Vegas, rent a house. You can rent a house in Vegas for cheap.

I don't understand why anyone would want to live in NYC, LA, or Miami. Those places are filthy.
 
my salary is in the mid 50's (depending on the bonus)... most of my money goes into mutual funds, the savings account is for an emergency fund, once mys avings acct hits $10k im gunna stop putting $ in it. i put away ~5,000 per year and my company puts another 4000 on top of that... i think maxing out is 14k, but i also max out a roth and i feel like im doingenough right now
 
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