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I found your post a little hard to understand. Are you saying "save money because your older self can do more with it than your younger self"?
by Chris2048 9y ago
I found your post a little hard to understand. Are you saying "save money because your older self can do more with it than your younger self"?
- jogjayr 9y agoSave money now so you can afford to take career risks later.
- dandr01d 9y agoHow do you take risks when you’re married with kids?
- stefano 9y agoBy having a nest egg that can keep you and your family going for a few years.
- semi-extrinsic 9y agoSettle down and have kids early, play the long game instead. Seriously. Have kids when you're ~25 (closer to the optimal age for having kids), then by the time you're ~45 they'll have moved out and you'll have the time and the financial freedom to take risks, do what you want, sail around the world etc. We've done this. And let me tell you, working 40 hours a week when your 8-month baby lets you sleep on average 2 hours per night is a lot fucking harder than the 70-hour tech-scene work week. So given the choice, I'll take the former when I'm young and fit for it, and the latter when I'm older and wiser.
- dandr01d 9y agoHow do you pick a wife and get married and have kids by 25? That’s simply impossible for people that don’t marry their high school sweetheart and stay together through college
- brandnewlow 9y agoDate agressively and widely for 6 months-year. Double down on someoone who seems promising and date that person for a year or two. Marry that person with a short-ish engagement. Begin having kids. That can be done in 2-4 years.
- ottumm 9y agoAnd they say romance is dead.
- nothrabannosir 9y agoOur concepts of relationships, parenthood and (crucially) romance are so far apart you’d need a space shuttle to go between them. This is... not exactly actionable advice for everyone ?
- swsieber 9y agoWhat is your concept of romance? I think the parent's posting is more applicable than you might think - putting in the effort to go on dates and really get to know a person does a lot to cultivate romance. Nothing kills romance like hanging-out, but my perception might be different than yours - my ideal romance leads to a life-long relationship, which takes the same kind of effort that the parent's suggestion called for (deliberate effort focus on a romantic relationship).
- deleted 9y ago[deleted]
- icedchai 9y agoYou forgot the part about getting divorced and going broke. Sometimes, it's worth waiting a bit.
- Spooky23 9y agoIt's not really germane. Statistically, your divorce probability drops dramatically when you get married at 25, and doesn't change much afterward. Once you're married at 25, the primary risk factors are: substance abuse (obvious), prior cohabitation (many people feel they "slide" into marriage when they do this), and unemployment.
- randomsearch 9y agoAdvising people to get married young is also a great way to boost the divorce rate. Most people in their mid-20s are still growing up.
- nshelly 9y agoIt's increasingly common for financially well-off people to marry other financially well-off people, perhaps contributing to income inequality. So, if you both share parenting duties (1-3 hours a day of individual work plus daytime child care, and being flexible with night time duties), it's doable if one of you has a high-paying steady job and the other is taking on more risk. In fact, with marginal tax rates in CA and NY approaching 50% it might actually be more efficient for one spouse to receive compensation through building equity. Alternatively saving a lot of money before you have kids and living frugally by working in a lower cost metro area or renting outside of SF/Palo Alto can work. It's obviously a risk so you and your family has to be on board.
- Spooky23 9y agoLiving in the SF Bay Area is like the anti-pattern for gathering wealth. You make lots of money, but it's a bad cash flow story.
- jogjayr 9y agoThat's not necessarily true, especially if you work in tech.
- wpietri 9y agoIt depends on how willing you are to live below your means, and below what your peers in other regions have. The programmers I know outside the Bay Area (or NYC) own houses with yards that have plenty of room for kids. Even relatively young ones. To buy the median single family home in San Francisco or San Mateo country, the minimum salary is circa $290,000. [1] [1] http://www.mercurynews.com/2017/08/11/bay-area-real-estate-to-buy-a-median-priced-home-you-now-need-income-over-179000/ http://www.mercurynews.com/2017/08/11/bay-area-real-estate-t...
- jogjayr 9y agoOTOH if you live below your means, the outsized salaries make wealth accumulation far easier than anywhere else.
- Spooky23 9y agoI put 20% of my salary away from 22-30. 12% after that, but I bought a house that appreciated 50%. Now I could literally walk out the door and make at least what I’m making in my own in 3-5 phone calls. Not because of any magical talent, but because I’ve been around and have a decent network.
- kamaal 9y agoAnd having a home of your own makes a lot of difference. A huge chunk of your monthly expenditure is now taken care of.
- jjkk0101 9y agoYes, after settling in a country with public sponsored health care and affordable housing, I can say that it takes very little to live comfortably. Also, not having Amazon saves a lot of money.