Quote:
Originally Posted by supafamous
Let's split this into two items:
1. It's not the norm to be financially capable in your 20s of even saving $20k/yr - if anything, it's extremely rare because you need so many things to fall right for it to happen. You need to be debt free (or nearly), you need your parents to be down with you living with them for near free, and you need to be able to land a job that pays well enough that you could save $20k/yr (say $65k). $65k at age 23 is an exception, not the norm - it's reserved for the top university grads, people who get a STEM degree and maybe a business degree.
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I heavily disagree, your example must apply to international students and kids that got kicked out from home
At 20, most of my friends were living at home for free, probably until the age of 23-27 when most moved out. Some may have chipped in 500$/mo. Their only expenses were women, drugs, vacations, car, eating out. (Choosing to save for a downpayment or do drugs is a different story)
Saving 20k a year is easy while at home, thats a minimum wage job, working weekends only, (15k in your pocket). That leaves you with M-F for school. Add in a few evening shifts when there arent exams, second job, work while school has vacation, etc.
The debt, thats correct, cant save if your trying to pay that off... Most pay that off when their income isnt min wage although
If your 20-25, in school, living at home, and not working, your lazy and honestly your parents should be beating you. This is
the best time of your life to save money, if you have the willpower, your expenses are
zero.
I hope one day a "life graph" will come out, and you can compare what your 20s looked like vs other people (study hours, hours worked, hours enjoying live, relaxing, sleeping, drinking, etc) future shit i know, would make a good moooooovie