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Best travel/casual navy blazer?
Pyar hume kis moode pe le aaya...
Are ear cuffs in right now?
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Rising Star
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Woahhh TSLA pre market tho
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Concerned yes. But I'd also look why they have no savings. Not everyone is fortunate enough to be in a position to save in their twenties. But if they were reckless with their money that would be a red flag for me
Above all, please remember their financial habits WILL AFFECT YOU. And financial issues are a leading cause of separation. So the conversation and following action steps are necessary.
In general yes but I think it depends on the specific circumstances. If they’ve been working high paid jobs the past few years, it’s a red flag. If they’ve been in grad school or something like that, it’s less of an issue. I’d advise them to start an emergency fund (3-6 months of expenses) and once they have that, start saving for retirement (Roth IRA, 401k, etc)
Before my wife I dated a beautiful 29 year old train wreck of a human being. In debt and still very much looking to find herself but had no real plan to do so. Debt and / or lack of savings says a lot about the person. Be wary unless they have been investing in themselves (education) or a business; or have another compelling reason (e.g., taking care of family). Otherwise, don’t waste time on listless human beings.
Yes. I would sit down with them and try to figure out why. Is it a spending issue? A budgeting issue? It is clear that they are living above their means, but a diagnosis is the key to solving the issue.
Not useless at all. It’s a series of questions. You can always ask more questions to understand the bigger picture. Relax.
I’m 31 and have minimal cash savings. This is because I am aggressively paying off student loans, and aggressively putting money away in retirement funds.
Me too
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Thanks fam
Kind of. Obviously need to look into why. I would be concerned if they had a lot of debt.
My SO didn’t have a ton of savings before we got married. But I taught her, we set goals together, and now it’s gravy.
My husband had never contributed to a 401k and had something like less than 20k in a Roth and less than 10k in cash when we got married (he was 29). Upon my advice and one meeting with a cheap financial planner, he agreed and easily complied with all my financial strategies and asks (set up his 401k contribution to hit the annual max, agreed on annual savings targets based on banking both of our bonuses and saving a specified amount per month). He was a little wild and spendy when he was young but was ready to settle down and had different views of the long term goals and reasons for savings once we got serious. Some people change more easily than others.
We are the same age and coming into the marriage I had around 120k in a 401k, probably 60k in cash, and another 15k ish in investment accounts. Not enormous but obviously a lot more than him.
I guess I should caveat - we bring in a lot of money (to us; probably close to 350k overall) so it’s not stressful, we have enough, it’s just someone has to manage and have a strategy.
I’d be like hey...get some savings
Not necessarily. When i met my hubby he didnt have anything at 35, but we sat together and he got very into financial planning.
Rising Star
I was thinking that OP meant an emergency fund? I mean most people on here would probably have a 401k/IRA but what happens if you lose your job? I would think you would want an emergency fund separate from retirement savings that you can withdraw from without penalty or tax. I think by 30 you should at the very least have some emergency fund available (even if it’s not a whole lot because you’re still paying down debt)
I have friends without retirement funds even at 30/31....
Tell them to save, and it is worrying only if you know they’re not going to be able to save going forward.
My SO had massive student loans so didn’t have much in terms of savings. Once he paid them off, he was saving over $150k/year.
I think it’s okay not to temporarily have savings. Surely they have 401k or some other form of savings. Also they might not have large savings cos they’re paying off their student debts?
I’m paying off my mba loan at 31 so... I’ll just cry in the corner I guess