I think a lot of the anxiety about getting ahead ignores that your best salaries will come in your 40s and 50s…

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May 19, 2023
7:18:46am

Tokolosh Truly Addicted User

I think a lot of the anxiety about getting ahead ignores that your best salaries will come in your 40s and 50s…

The “what you need saved” tables do a lot of straight line planning so it is demotivating to see you should have a certain number by 30 but you are still just starting out. You don’t get the same benefit of time but you can play a lot of catch-up in your middle career years.

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Tokolosh

Bio page: Tokolosh
Joined: Jun 9, 2004
Last login: Sep 19, 2024
Total posts: 61,843 (5,830 FO)

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Messages

Author

Time

100k ain't what it used to be....

RexIdaCoug

5/19/23 7:03am

They probably spend $20k/year for each dog baby they have.

mobomanjoe

5/19/23 7:04am

Starbucks too

Kolobrdm

5/19/23 7:35am

But the dog baby will pay into social security for them right?

jrifkin48

5/19/23 9:24am

my son and wife spend a small fortune on their 2 dogs. Can't afford kids.

qwerew

5/19/23 12:13pm

and make over 200k together as biomed engineer.

qwerew

5/19/23 12:14pm

Seems like none of these people have kids either… crazy people

homegrown

5/19/23 7:08am

Yep ^^^^

Pretorian

5/19/23 7:58am

Well 100k isn’t what it used to be that is true but things should always be compared with regard to cost of living

Baron

5/19/23 7:10am

Looking at it in a vacuum can take your breath away.

Shihan

5/19/23 7:16am

Maybe it depends on what it means to be getting ahead?

justAnotherCoug

5/19/23 7:11am

None of them are morons. Looks like they all do a decent job

JuicyJam

5/19/23 7:12am

They are morons for complaining when they are doing better than most

RexIdaCoug

5/19/23 7:29am

Would you say that most complaining about the economy on CB are doing better

vagabonder

5/19/23 7:32am

Definitely!

Tokolosh

5/19/23 7:34am

I have no idea

RexIdaCoug

5/19/23 7:34am

You don’t see the difference?

Pretorian

5/19/23 8:01am

Complaining about inflation is no longer allowed apparently.

JuicyJam

5/19/23 9:25am

It gets categorized into politics since the fault falls on a certain man

jrifkin48

5/19/23 9:28am

No connection to the current global inflation crisis, which is worse in several

vagabonder

5/19/23 10:25am

RE: 100k ain't what it used to be....

md7Coug

5/19/23 7:12am

Oh that level of wealth exists. Just a lot more money than I have or make!

justAnotherCoug

5/19/23 7:16am

A guy in my ward said, "Doesn't matter how much you make, end of the month you

ReiUrso

5/19/23 8:13am

Good lesson!

md7Coug

5/19/23 8:14am

Uncle who was an airline capt making good money always said he’d never make more than his wife could spend.

Soupie

5/19/23 8:22am

If I were moving into my neighboorhood right now, $100k would not be enough.

fbguru

5/19/23 7:15am

There is a lot of truth to this. A lot of people think they need have it all by

Cougar TD

5/19/23 7:17am

Exactly

RexIdaCoug

5/19/23 7:30am

Having it all costs a lot.

Archaea

5/19/23 7:16am

Unless you're in a high expense area - I don't feel bad if you can't "get ahead"

Adwight

5/19/23 7:16am

I think a lot of the anxiety about getting ahead ignores that your best salaries will come in your 40s and 50s…

Tokolosh

5/19/23 7:18am

I make about 7 times now what I made when I was 29. Work hard and give it time.

5/19/23 7:24am

There's also the issue that retirement accounts have been losing money the

donnerstag

5/19/23 7:26am

All of them seem to be saving for retirement

donnerstag

5/19/23 7:19am

"Fifty thou(sand) a year will buy a lot of beer ..."

stirmac

5/19/23 7:21am

One of the couples has $50,000/year in student loans

viper

5/19/23 7:26am

Hopefully that's them snowballing their debt payments, to get it paid faster

Ungoy

5/19/23 8:55am

Definitely a lot more expectation issue than salary issue. Most of earning & saving more

Soupie

5/19/23 7:28am

Reading through the list, it seems they are all doing quite well.

OPINIONS

5/19/23 7:37am

Agreed

RexIdaCoug

5/19/23 7:40am

There seems to be a lot of people making $100,000+ anymore, I've got a buddy

RC Vikings

5/19/23 7:46am

A million isn’t what is used to be either… the main difference

Pretorian

5/19/23 7:59am

They are all doing as well or better than I was at their age but I had 3 kids

fulano

5/19/23 8:07am

$100k doesnt work anymore.

Backcountry

5/19/23 8:23am

Totally depends on where you live and how you spend.

Cougar TD

5/19/23 8:29am

Or if you want a home, car, and food.

Backcountry

5/19/23 8:40am

You would struggle to own a house and raise a family on that in Utah.

ReiUrso

5/19/23 8:42am

Yes it does. I'm a teacher making a little over 100k. In Utah.

Adwight

5/19/23 9:20am

What kind of teacher makes 100k in Utah?

OPINIONS

5/19/23 9:31am

Get extra stipends and coach sports that take no time away from family.

Adwight

5/19/23 9:40am

Sounds fine except no teacher I know (which is a lot) gets 4 mos off.

Soupie

5/19/23 9:45am

I don't do any extra work outside my contract time or any extra summer work.

Adwight

5/19/23 10:02am

Most teacher contracts are for at least 185 days which is <4 mos off.

Soupie

5/19/23 10:17am

RE: Most teacher contracts are for at least 185 days which is <4 mos off.

OPINIONS

5/19/23 10:22am

You mean I get weekends off too!?!? Preposterous!

Adwight

5/19/23 10:25am

That's not counting weekends. 52 wks of 5 days/wk = 260 - 185 = 75 fewer days / 5 = 15 weeks < 4mos.

Soupie

5/19/23 10:29am

You can keep arguing with me on the math... but I'm pretty sure I know exactly

Adwight

5/19/23 10:58am

You are ruining a lot of teacher narratives right now haha.

JuicyJam

5/19/23 10:29am

Happy to do it. I will say this: It isn't for the feint of heart.

Adwight

5/19/23 10:42am

Oh I'm very aware. More than you may realize.

Soupie

5/19/23 11:02am

Hmmm… I guess I need to change districts. I’m finishing year 16 with a masters

fubecao

5/19/23 12:10pm

$1370 a month on cars? Haha

BamBamBigelow

5/19/23 8:34am

Not that simple. Inflation is real.

BlooCoog

5/19/23 8:40am

Complaining about money when you are within a year or 2 of debt free owning a

NYC and Japan

5/19/23 8:46am

RE: 100k ain't what it used to be....

nitestal

5/19/23 9:04am

A single guy can live on 50k and have savings; a married guy with 100K

Archaea

5/19/23 9:16am

Mounting pressure on finances? ALL case studies put like 10-20% of income to

Doogal McCougar

5/19/23 9:19am

I’m 29. I think the point isn’t that 100k isn’t enough—it’s that it doesn’t

Ben Swife

5/19/23 9:27am

This is the correct perspective. 100k is a starting point, not an ending point.

Archaea

5/19/23 9:44am

"isn't horrible" love it... if I made $50k-65k passive income, id be retired

BYUFootballisBack

5/19/23 10:38am

net 65k passive income and I'm definitely leaving my job.

here's to hoping

5/19/23 10:43am

We like nice things. I didn't say I had that yet.

Archaea

5/19/23 11:38am

And as kids we had no clue how taxes and expenses worked.

5/19/23 10:01am

This. Depending on how crappy your benefits plan is, 100k looks more like 60k

here's to hoping

5/19/23 10:19am

this is true but can still be done over 40-50 years of monthly saving.

qwerew

5/19/23 12:21pm

A lot of them eat out at least 2x a day.

ImuaKahuku

5/19/23 9:33am

These people obviously are not planning for being laid off, which happens often

DCCougFan

5/19/23 9:56am

I made that 35 years ago shortly after I

deljdc

5/19/23 10:49am

Median cost of home compared to median household income over the decades...

Dwreck

5/19/23 11:18am

Homes are also way bigger now than in the other years, so factor that in too.

5/19/23 11:23am

I’d bet lot sizes are way down though.

JuicyJam

5/19/23 11:30am

They are, but home prices are still way up.

Tokolosh

5/19/23 11:30am

And that's a steal if you can find them, especially east side of SL valley.

Spindash

5/20/23 2:23am

Home size is not the reason for the cost increase in homes in the last decade

here's to hoping

5/19/23 11:46am

Homes are larger, but lots are smaller. Can't fix the lot. And good luck

Mitty

5/19/23 12:13pm

In all fairness, there are expenses no one had in the 70's & 80's too.

Soupie

5/19/23 11:23am

yep, just have to have the latest, best electronic/phone devices and best plans.

qwerew

5/19/23 12:12pm

Maybe true but no one had cell phones or internet of any kind so cost was $0.

Soupie

5/19/23 12:23pm

What the boomers dont mention when they talk about their 18% 1979 interest rate.

Backcountry

5/19/23 11:55am

Or that they all refinanced in the 80s.

here's to hoping

5/19/23 12:12pm

the most me and my wife have ever lived on is 58K in a year. 100k would be easy

qwerew

5/19/23 12:10pm

granted we still live in the same 112k house we bought 22 yrs ago at low interes

qwerew

5/19/23 12:18pm

Good to see that frugal people still exist. Kudos to you.

Archaea

5/19/23 12:24pm

well maybe. The new build my wife wants will be 1mil+.

qwerew

5/21/23 8:49pm

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