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The woman who is not thinking about retirement savings but is doing Barry’s, yoga, and ClassPass feels like she has the opportunity to make better financial cho

by fnfjfk 4y ago

The woman who is not thinking about retirement savings but is doing Barry’s, yoga, and ClassPass feels like she has the opportunity to make better financial choices, unlike some of the others that are just clearly in poverty. Those class-based gyms are stupendously expensive, $30 or more per workout. Compares unfavorably with a regular gym membership or buying running shoes or a bike, depending on what you’re into. Lots of outdoors opportunities in Colorado too. I work at FAANG and just generally see so much lifestyle inflation from coworkers, even at high incomes. Taking Ubers everywhere instead of the subway or bikes, $20 cocktails, fancy restaurants that aren’t really that much better, those high price fitness classes… I interact with a lot of people at high levels who have been there for a while, and often wonder why they aren’t retired yet.

paulpauper 4y ago
I work at FAANG and just generally see so much lifestyle inflation from coworkers, even at high incomes. Taking Ubers everywhere instead of the subway or bikes, $20 cocktails, fancy restaurants that aren’t really that much better, those high price fitness classes… I interact with a lot of people at high levels who have been there for a while, and often wonder why they aren’t retired yet. The salaries are so much, especially with stock, perks, bonusses, raises, etc. that they still probably are doing well. The biggest cost is having kids, cause then you have wife, healthcare, college, etc. (assuming single income household).
- fnfjfk 4y ago
  Tbh most of the people at work whose relationships I know about are with someone who also works at FAANG or a FAANG-alike. Lots of 2 SWE couples.
  - bradlys 4y ago
    Yep. Although, statistically - this isn’t true. They’re not the majority since women make up only 20% of the Eng workforce. Leaving 3x as many men leftover.
    - strikelaserclaw 4y ago
      most likely, there are a lot of men who aren't in relationships but want one.
mrguyorama 4y ago
This is such a stupid take. Guess what, those little expenses DON'T add up. It turns out pretty much no small transactions you avoid to save five bucks here and there can't actually compete with costs of rent going up 80% over the course of five years. I live so frugally I have an entire years worth of cash in my bank, despite only making $65k (underpaid even for an area that has low SWE pay and a company that openly targets low SWE pay) and spending over $1600 a month in rent and utilities. But I still can't afford a house anywhere within 100 miles. I can't have a hobby that requires any extra space. Rent has gone up by $15000 a year, everywhere. Why the hell should we get advice from the generation that lived through the easist access to well paying jobs and investments pretty much in history? They literally have no idea what this is like. They lived through a time where you could walk into a place just out of highschool and get a job that you could almost afford a brand new house with. They lived through a time where employers would train you, pay for you to learn new things, and expect to move you up through the ranks so you could be more useful and make more money. They lived through a time where fretting over a hundred dollars difference in a living expense was a common thing. They lived through all this and STILL didn't plan for retirement or save money for emergencies. So yeah, they have no good advice to offer us, because they genuinely don't even understand how hard it is to spend literally half your income on a roof over your head.
- deleted 4y ago
  [deleted]
- ryandrake 4y ago
  They do add up. No, you're not going to be able to afford a house simply by dropping the $8 lattes, but your chances improve greatly if you avoid the overall lifestyle inflation and always-be-spending mentality. A major symptom of lifestyle inflation is paying people to do things you can DIY. I work with perpetually broke people who pay a nanny/housekeeper, pay people to fix their car, pay plumbers, and so on. The unnecessary cost of always defaulting to "pay someone" really does add up. Plus all the eating out, streaming subscriptions, gym memberships, and so on add up to a significant chunk of savings.

by fnfjfk 4y ago

paulpauper 4y ago

I work at FAANG and just generally see so much lifestyle inflation from coworkers, even at high incomes. Taking Ubers everywhere instead of the subway or bikes, $20 cocktails, fancy restaurants that aren’t really that much better, those high price fitness classes… I interact with a lot of people at high levels who have been there for a while, and often wonder why they aren’t retired yet. The salaries are so much, especially with stock, perks, bonusses, raises, etc. that they still probably are doing well. The biggest cost is having kids, cause then you have wife, healthcare, college, etc. (assuming single income household).

fnfjfk 4y ago
Tbh most of the people at work whose relationships I know about are with someone who also works at FAANG or a FAANG-alike. Lots of 2 SWE couples.
- bradlys 4y ago
  Yep. Although, statistically - this isn’t true. They’re not the majority since women make up only 20% of the Eng workforce. Leaving 3x as many men leftover.
  - strikelaserclaw 4y ago
    most likely, there are a lot of men who aren't in relationships but want one.

mrguyorama 4y ago

This is such a stupid take. Guess what, those little expenses DON'T add up. It turns out pretty much no small transactions you avoid to save five bucks here and there can't actually compete with costs of rent going up 80% over the course of five years. I live so frugally I have an entire years worth of cash in my bank, despite only making $65k (underpaid even for an area that has low SWE pay and a company that openly targets low SWE pay) and spending over $1600 a month in rent and utilities. But I still can't afford a house anywhere within 100 miles. I can't have a hobby that requires any extra space. Rent has gone up by $15000 a year, everywhere. Why the hell should we get advice from the generation that lived through the easist access to well paying jobs and investments pretty much in history? They literally have no idea what this is like. They lived through a time where you could walk into a place just out of highschool and get a job that you could almost afford a brand new house with. They lived through a time where employers would train you, pay for you to learn new things, and expect to move you up through the ranks so you could be more useful and make more money. They lived through a time where fretting over a hundred dollars difference in a living expense was a common thing. They lived through all this and STILL didn't plan for retirement or save money for emergencies. So yeah, they have no good advice to offer us, because they genuinely don't even understand how hard it is to spend literally half your income on a roof over your head.

deleted 4y ago
[deleted]
ryandrake 4y ago
They do add up. No, you're not going to be able to afford a house simply by dropping the $8 lattes, but your chances improve greatly if you avoid the overall lifestyle inflation and always-be-spending mentality. A major symptom of lifestyle inflation is paying people to do things you can DIY. I work with perpetually broke people who pay a nanny/housekeeper, pay people to fix their car, pay plumbers, and so on. The unnecessary cost of always defaulting to "pay someone" really does add up. Plus all the eating out, streaming subscriptions, gym memberships, and so on add up to a significant chunk of savings.