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How much money do you need to live? $15k a year? How much can you generate: 30k a year? You're set. This isn't talking about being wealthy - it's about cons

How much money do you need to live? $15k a year? How much can you generate: 30k a year? You're set. This isn't talking about being wealthy - it's about considering alternatives and making good choices - if you can make more than $20k a year.

Retric 11y ago
So step 1, don't have kids, step 2 don't get sick. That's like saying win the lottery. Sure, it could work, but it's a lot of risk and does not scale.
- coldtea 11y ago
  No, it's just be frugal. You can still pay for insurance and kids. In fact in TFA he says he has a kid.
- carlob 11y ago
  So step 1 don't live in the US. fixed that for you :)
  - anotherangrydev 11y ago
    Step 2: Do not get paid like in the US.
    - toomuchtodo 11y ago
      Step 3. Live in a country with a proper healthcare system (not the U.S.).
- Nadya 11y ago
  If you're getting sick each year (or a long-term illness) and it's costing you your $15k/yr savings, I think many people would be screwed when it comes to covering the costs. Kids are a choice - but even with kids one can still live frugally or prepared. For example, choosing to not have a child until you've accumulated enough savings to cover all of the extra surprise costs that can occur that most people don't plan for when having a child. My father worked two jobs to barely make ends meet for 8 years because his financial planning revolved around a family plan that he didn't actually plan for. My family plans are actually planned and revolve around my financial plans. One problem I see people make is that their financial plans revolve around their family plans (or lack thereof). No surprise child at 18 years of age. No poorly-planned "I think I'm ready but I'm not actually ready" child at 21-23 either. I've seen very, very, very few parents under the age of 25 that a) planned for their child and more importantly b) properly planned for their child. Lack of planning - or having a poorly crafted plan is what is "risky" or "doesn't scale".
- Mz 11y ago
  As someone who has a serious medical condition and has altered my lifestyle to get healthier, I think "don't get sick" is more of a choice than most people seem to believe. And "don't get sick" -- or, more accurately, get my sorry ass well -- is, in fact, the big foundation of my financial plans. I am not where I want to be financially, but I am making poropgress towards my goals, including paying down debt.
- blakehaswell 11y ago
  it's a lot of risk What’s a lot of risk? Saving a significant portion of your income? Sounds less risky than “work until I’m 70 and then hope I have a good pension.”
  - Retric 11y ago
    Saving is not the issue. The issue is trying to retire on low incomes. If something happens then finding a good job when your older and have not worked for a while is hard. So, IMO your better off trying to get a significantly larger nest egg than you think you need. That way compound interst works for you and you don't risk poverty while your old.
Artistry121 11y ago
It does scale. Low expenses mean profitability can take major hits and still work - in both companies and humans. That $15k figure includes healthcare paid for and its very possible for a family to raise children on less than $30k combined. Choosing your partner wisely? That's important. I don't understand your incredulity. People have lived and self-actualized on less than the $15k/yr equivalent forever - when did it become impossible? And why do you think so?
rco8786 11y ago
Great I can pay 5 months of rent and nothing else.
Decade 11y ago
Before I switched careers and started having an actual income, I was able to count on about half of $15k of income. Dave Ramsey says, "Live like no one else, so you can live like no one else." He means, save aggressively and retire comfortably. I was already living like no one else: no car, no concerts, rarely seeing movies or eating out, no fancy clothes, avoiding doctors, less than $15 cell phone plan. And my expenses still exceeded my income. It is not so simple and easy for everyone to have savings.
- czbond 11y ago
  Exactly - what people fail to realize is that $1 spent today means $4 more they'll have to save for $30. I equate EVERYTHIGN i purchase to cost 4x more than it does - because it costs me that in future value.

Retric 11y ago

So step 1, don't have kids, step 2 don't get sick. That's like saying win the lottery. Sure, it could work, but it's a lot of risk and does not scale.

coldtea 11y ago
No, it's just be frugal. You can still pay for insurance and kids. In fact in TFA he says he has a kid.
carlob 11y ago
So step 1 don't live in the US. fixed that for you :)
- anotherangrydev 11y ago
  Step 2: Do not get paid like in the US.
  - toomuchtodo 11y ago
    Step 3. Live in a country with a proper healthcare system (not the U.S.).
Nadya 11y ago
If you're getting sick each year (or a long-term illness) and it's costing you your $15k/yr savings, I think many people would be screwed when it comes to covering the costs. Kids are a choice - but even with kids one can still live frugally or prepared. For example, choosing to not have a child until you've accumulated enough savings to cover all of the extra surprise costs that can occur that most people don't plan for when having a child. My father worked two jobs to barely make ends meet for 8 years because his financial planning revolved around a family plan that he didn't actually plan for. My family plans are actually planned and revolve around my financial plans. One problem I see people make is that their financial plans revolve around their family plans (or lack thereof). No surprise child at 18 years of age. No poorly-planned "I think I'm ready but I'm not actually ready" child at 21-23 either. I've seen very, very, very few parents under the age of 25 that a) planned for their child and more importantly b) properly planned for their child. Lack of planning - or having a poorly crafted plan is what is "risky" or "doesn't scale".
Mz 11y ago
As someone who has a serious medical condition and has altered my lifestyle to get healthier, I think "don't get sick" is more of a choice than most people seem to believe. And "don't get sick" -- or, more accurately, get my sorry ass well -- is, in fact, the big foundation of my financial plans. I am not where I want to be financially, but I am making poropgress towards my goals, including paying down debt.
blakehaswell 11y ago
it's a lot of risk What’s a lot of risk? Saving a significant portion of your income? Sounds less risky than “work until I’m 70 and then hope I have a good pension.”
- Retric 11y ago
  Saving is not the issue. The issue is trying to retire on low incomes. If something happens then finding a good job when your older and have not worked for a while is hard. So, IMO your better off trying to get a significantly larger nest egg than you think you need. That way compound interst works for you and you don't risk poverty while your old.

Artistry121 11y ago

It does scale. Low expenses mean profitability can take major hits and still work - in both companies and humans. That $15k figure includes healthcare paid for and its very possible for a family to raise children on less than $30k combined. Choosing your partner wisely? That's important. I don't understand your incredulity. People have lived and self-actualized on less than the $15k/yr equivalent forever - when did it become impossible? And why do you think so?

rco8786 11y ago

Great I can pay 5 months of rent and nothing else.

Decade 11y ago

Before I switched careers and started having an actual income, I was able to count on about half of $15k of income. Dave Ramsey says, "Live like no one else, so you can live like no one else." He means, save aggressively and retire comfortably. I was already living like no one else: no car, no concerts, rarely seeing movies or eating out, no fancy clothes, avoiding doctors, less than $15 cell phone plan. And my expenses still exceeded my income. It is not so simple and easy for everyone to have savings.

czbond 11y ago
Exactly - what people fail to realize is that $1 spent today means $4 more they'll have to save for $30. I equate EVERYTHIGN i purchase to cost 4x more than it does - because it costs me that in future value.