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Need some likes for personal messaging.
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Any 🐠 going to market days next weekend?
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Need some likes for personal messaging.
Thankyou.
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Any 🐠 going to market days next weekend?
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Rising Star
Everyone has their own journey, OP. You should feel great that you're helping out your household to run a comfortable lifestyle.
Keep your intent open and positive to save at every opportunity. Once you save, put any money in excess of an emergency fund, into the market.
Rising Star
Something I always try to remember is that this app is hardly representative of the population writ large. The median HOUSEHOLD income in the US is $68k and many people are happy when they can save even $5/month (and not add to existing credit card debt). So I often have to remind myself that while I don’t make $400k/year and have a new worth of $5M, I’m doing incredibly well as compared to most in this country. You’re very young, your income will grow over time, so establishing saving patterns now is great practice.
THIS
Thank you for the positive comments everyone :) My dad died when I was a teenager and my mom worked her ass off to support my family which is why I give to her today. I keep having to remind myself a lot of people aren’t in the same situation but it’s really easy to get caught up in all the cool things everyone else is doing. But your responses made me feel much better - thanks once again!
Great job for you to help your family. I send $700 per month home over seas. I saw my parents doing the same thing while making minimum wage
500 a month is great!!!! It’s better than -500 a month and you’re paying off your loans, not racking up more debt. This is a HUGE accomplishment
Also, props to you for helping your mom out with household expenses! Not everyone on this app has that responsibility, or constraints like student loans- just something to keep in mind :)
Well I can save a ton because I don’t have to support anyone but myself and my dog, and my parents paid for everything so I don’t have loans. Everyone has their own journey and situation. You’re doing what you can and that’s what matters.
Also, paying off debt and saving something is still huge. A lot of people just add to their debt instead of paying it off. Good for you!
What A1 said... you can sort of view paying of student loan debt as an investment with a return of whatever that interest rate it! And then once you’re done paying that off, it’s “easy” to just shift those monthly payments to a monthly contribution to your retirement / brokerage / etc accounts
At your age, I had about 3k to my name, had just gotten divorced, & was working for $15/hr for a non-profit.
You’re doing fine. I didn’t set up my first IRA till I started grad school at 26...
(Btw, I’m fine now, net worth on par for my age)
And I know you probably won’t believe me... but the advice I would have given to my past self is to invest more in selected stocks and pay down the student loans more slowly
OP as you pointed out yourself, you have outside expenses, and people who have that much saved likely do not. Loans, rent, family support all add up.
Saving $50k by 24 is not a realistic goal to most people. This app is severely skewed to people who make a ton of money.
Edit: BAH1 said this more succinctly than I did. Read that.
As my mom always said, “Comparison is the thief of joy.” Do what works for you and your life, establish good habits, and it will pay off in the end.
This should cheer you up!!!!!!!!!!
https://joinfishbowl.com/post_7k97nw12y8
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Funny story!!! 😂
I think a lot of people in these bowls or on the internet try to appear more successful than they are or claim they’re self made when in reality very few people are.
I have a lot of money saved and make about the same as you but my parents paid for my college, gave me money to invest, etc. I feel very fortunate for what I have and I’m not trying to flex in anyway, just think that you shouldn’t be comparing yourself to others from this bowl because everyone’s situation is not what they project on the internet. I think you’re doing great and keep at it!
As an immigrant who graduated a top 5 business school only to have to go back home and make $17k a year in his first job, I used to find myself constantly comparing myself to my peers. But then I internalized that each of our paths are different, with my own being both more privileged than most and less privileged than many. It took me 18 years for my path to MD, which included migrating to several countries on my way back to the US and probably have less $ saved than most in my position, BUT, as Tywin Lannister said, the lion does not concern himself with the opinions of the sheep... so long as you continue forging your path forward and doing the best you can in the position you’re in, you’ll eventually get to where you want to be...
You are amazing!
Rising Star
You’re doing great, OP. You aren’t living above your means. Your salary will increase and as long as you don’t increase your expenses, your savings will grow.
OP, please please don't feel this way! You mentioned household expenses, bills, student debt. These are definitely essentials, it sounds like you're great for helping contribute to your family too, be proud!
Not to undermine anyone with more, but some people didn't have any debt. Some people had rich families. Some people had higher paying jobs. Different cost of living.
You do you, OP!
Op you're doing fine. I started working at 23 with a 70K salary. Had to support my parents while paying rent and student loans and saved only a few hundred a month. Keep saving a little at a time, I bet many people on this app started out like that too.
I used to wonder the same thing, when I graduated college a lot of my friends were immediately living in mid town or the UES. I wondered how they could afford it, eventually it came out that their parents were subsidizing them. Don’t worry about what other people have focus on your goals and doing what you can with what you have.
Leave this app and live a content life.
OP I understand and I know exactly how you feel. At 24 I was only making 47k and I am 27 know and finally able to make 70k and still don’t have 50k in my savings. But I came a long way from 47k to 70k in three years. We all have our own journey don’t let people on this app define your worth. I am very happy to see there are people out there like me that supporting their families. Keep doing what you’re doing and focus on saving whenever you can and do what makes you happy. Self worth is not defined by your title and your salary, there is more to it than that.
You’re doing great, better than great.
You are young, you’re supporting your household, you’re paying off student loans. Some people have parents who paid their student loans, live for free at parents’ home, etc. You didn’t. Don’t compare yourself to them!
You sound like a good person who’s working hard, responsibly, and with a good heart. Stay the course.
Immigrant family, my brother and I paid off my mom’s house last year after 10 years of paying the mortgage once my dad left. They got a shit loan during the housing crisis as well. Stay focused on the positives and I promise it will get better. And honestly, it made me a better and more responsible person in the end. It forced me to consider how hard I should work and how serious my career is.
Wow, thank you for sharing! Good to hear the story and your suggestions.
Rising Star
Do you live at home because you want to, or that is the only way your mom can afford her home.
And, either of those are tier 1 reasons.
Poor reason, in contrast- you’re afraid of being alone in the dark or you can’t figure out how to go about getting an apartment. really doubt those are the case! 🦖