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Old 02-19-2013, 09:39 AM
 
8,317 posts, read 25,777,680 times
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Unfortunately, times have changed since posters of my generation (and Cosmic is there with me) were in their 20's. Back then, not "hunkering down" for a period of years didn't have the serious potential consequences that it does now. Some differences: When I graduated from college back when, I had NO DEBT. Zero. Everything I owned was paid for. I could afford to work at a low income for awhile. Most kids graduating college today don't have that luxury. I applaud the OP for saving $15K--most 20-somethings today can't even do that. But we don't know what his/her debt is from college, either.

For the Baby Boomers, retirement looked a whole lot more secure than it does for today's 20-somethings. Many of the Boomers are now enjoying defined-benefit retirement plans, pension funds that will likely remain--rickety as many of them are getting to be--solvent enough to pay for the Boomers retirement years. Same with Medicare. Boomers also enjoyed one of the longest run-ups in stock values, real estate values, lowest costs (in inflation-adjusted dollars) for food and energy in recorded history, and one of the highest material standards of living for the middle class ever. Today's 20-somethings will have NONE of that. More than any other generation in a century, they are going to have to be almost completely self-reliant for their entire lives. That can mean only one thing: unless they want to live in abject poverty (right up to starvation) in their later lives, they had better get cracking right now on starting to earn what they will need to survive for the future. In that regard, they have much more in common with the generation that grew up in the Great Depression than they do with any generation since--especially the Baby Boomer fat-cat pensioners who are the most frequent posters of the "Go for it, have fun" BS so common on this forum. Those "Boomers" are the first-class passengers on Titanic, already sitting in the lifeboats, who are telling the steerage passengers trapped on the sinking ship to "Party on, it'll all be fine." Well, it won't.

So, my advice to the OP stands. If you've got a good job, you'd better keep it. 10 or 20 years from now, if you are prudent in your financial and lifestyle choices, you may have the option to relocate and/or change careers with much less financial risk to your future. It's not the "fun" way to do things, but life can't always be about what's "fun"--sometimes it has to be about surviving.

Last edited by jazzlover; 02-19-2013 at 09:49 AM..
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Old 02-19-2013, 09:52 AM
 
129 posts, read 216,393 times
Reputation: 143
Save up two years worth of salary first? That's insane! I have several friends out here in the Lafayette area that have had random jobs for the past few years and though life isn't easy, they're doing just fine. I don't think any of them started with 15k in savings ... more like they started with debt! While things are not all roses, life here in CO is not THAT hard.

Housing in Boulder for under $500 a month ? Yeah, maybe if you're willing to sleep on someone's couch behind a bed sheet with 6 other people in the house. The burbs around Boulder can be pretty reasonable with roommates, though.

Budget looks perfectly reasonable to me, though. I highly doubt gas is more expensive here than CT, and if the OP is looking to live frugally, why does he even need to drive much?

@jazzlover - $600 for a vehicle registration? I doubt the OP is driving the latest lambo. My 2006 RAV4 was $181 this year.

I drive almost every weekend ... FAR. Its my hobby, fishing remote places. Usually at least one full tank of gas. I provide for myself and my wife. I have $1000 rent. My expenses don't go above $2200 / month. I don't see why the OP can't easily do $1200 a month.
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Old 02-19-2013, 11:04 AM
 
Location: 5280 above liquid
356 posts, read 513,556 times
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Quote:
Originally Posted by lovethehighcountry View Post
@jazzlover - $600 for a vehicle registration? I doubt the OP is driving the latest lambo. My 2006 RAV4 was $181 this year.
Colorado has one of the highest vehicle registration fees in the nation. Check this comparison on a 2007 Toyota Camry w/ an MSRP of $22k. In Connecticut it would cost $42.50 and in Colorado it would be $431.30. THAT'S A HUGE INCREASE between CT and CO.

That's why I see a ton of new cars sitting with their temp tags well past expired, due to the buyer being completely foolish in cost of auto ownership here in CO.
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Old 02-19-2013, 11:35 AM
 
24 posts, read 28,218 times
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Thanks again for the advice all.

As I said in a previous post, I have 0 debt and I own my car, computer, etc outright. I think that puts me in a little better spot than most as well.
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Old 02-19-2013, 11:37 AM
 
24 posts, read 28,218 times
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I do appreciate the car advice. That is a pretty crazy increase. Anyone know why that is?

And I own a 2006 ford focus, stripped down, just so you all know the type of car for $ purposes.

Housing wise, all the info I got was from roomshare and roomster. Boulder has about 30 listings in that range while the suburbs around it and Denver / FC have many more.
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Old 02-19-2013, 11:40 AM
 
Location: Wherabouts Unknown!
7,764 posts, read 16,835,798 times
Reputation: 9316
^^^^^It's a sneaky way to TAX the vehichle owning residents of Colorado without actually calling it a tax. It's little more than a thinly disguised political gimmick to generate revenue without having to officially raise taxes. Not saying that's a bad thing, but that's what it is....as I see it.
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Old 02-19-2013, 11:45 AM
 
24 posts, read 28,218 times
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Yea, we have a gas tax in CT that they don't really talk about. Same sort of thing.
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Old 02-19-2013, 12:50 PM
 
825 posts, read 1,604,222 times
Reputation: 1239
Quote:
Originally Posted by thelionofmali View Post
I do appreciate the car advice. That is a pretty crazy increase. Anyone know why that is?
There is no individual personal property tax in Colorado. Or, rather, there is, they just call it "Registration."
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Old 02-19-2013, 04:19 PM
 
9,830 posts, read 19,525,426 times
Reputation: 7602
Quote:
Originally Posted by jazzlover View Post
For the Baby Boomers, retirement looked a whole lot more secure than it does for today's 20-somethings. Many of the Boomers are now enjoying defined-benefit retirement plans, pension funds that will likely remain--rickety as many of them are getting to be--solvent enough to pay for the Boomers retirement years. Same with Medicare. Boomers also enjoyed one of the longest run-ups in stock values, real estate values, lowest costs (in inflation-adjusted dollars) for food and energy in recorded history, and one of the highest material standards of living for the middle class ever. Today's 20-somethings will have NONE of that. More than any other generation in a century, they are going to have to be almost completely self-reliant for their entire lives. That can mean only one thing: unless they want to live in abject poverty (right up to starvation) in their later lives, they had better get cracking right now on starting to earn what they will need to survive for the future. In that regard, they have much more in common with the generation that grew up in the Great Depression than they do with any generation since--especially the Baby Boomer fat-cat pensioners who are the most frequent posters of the "Go for it, have fun" BS so common on this forum. Those "Boomers" are the first-class passengers on Titanic, already sitting in the lifeboats, who are telling the steerage passengers trapped on the sinking ship to "Party on, it'll all be fine." Well, it won't.

So, my advice to the OP stands. If you've got a good job, you'd better keep it. 10 or 20 years from now, if you are prudent in your financial and lifestyle choices, you may have the option to relocate and/or change careers with much less financial risk to your future. It's not the "fun" way to do things, but life can't always be about what's "fun"--sometimes it has to be about surviving.
Thank you for that honesty Jazz. Most boomers are nowhere near as honest in saying they've partied hard and my generation and those below are screwed and stuck with the bill. Hard times are here and good chance it will get worse before it gets better.

The time is now for us youngsters to earn what we can now and build wealth. That gives you more options and flexibility as you age and don't have the energy you had when young.

My advice to the OP is not to leave their job until they have another. Like I said, this isn't 2005 or 1995 or 1985. It's great to have some savings and no debt, but if you fail to land a teachers job, your resume will look weird with one year of teaching in CT and two years of fiddle faddling around in CO doing whatever.

I moved to Colorado in 1999 with not a lot of money, but also I started my job and moved into my housing on the very first day I was there. I would not have moved without that job and that was in more stable, prosperous times.
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Old 02-19-2013, 04:22 PM
 
9,830 posts, read 19,525,426 times
Reputation: 7602
Quote:
Originally Posted by CosmicWizard View Post
^^^^^It's a sneaky way to TAX the vehichle owning residents of Colorado without actually calling it a tax. It's little more than a thinly disguised political gimmick to generate revenue without having to officially raise taxes. Not saying that's a bad thing, but that's what it is....as I see it.
I think back when I was paying mine in CO it was a couple of hundred bucks a year. It is certainly a stealth tax. To me that is steep for a 3 year old car at the time.

In PA, I pay $36 and about $30 for my inspection sticker.
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