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Old 12-02-2019, 09:11 PM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
6,017 posts, read 4,412,744 times
Reputation: 8338

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Quote:
Originally Posted by Lowexpectations View Post
He also has some pretty moronic videos about 401ks and other areas of finance that highlight he believes he is smarter than he really is at least on the topic of personal finance
It seems like no matter what is said, you wind up defending the "woe is me millennial" in this thread. You seemed triggered by some of the posters' opinions here.

I've followed this guy for quite a while and most of his thoughts about getting ahead are not in the mainstream, but I agree with a lot of what he has posted on his youtube channel and have actually done my financial life on what he has said, Not that I got it from him, but was already doing it.

You accused me of making assumptions based on what the article said and brought up things you found on her blog which was not in the original article.
Why don't YOU take your own advice and watch more about that guy instead of making assumptions yourself?
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Old 12-02-2019, 10:05 PM
 
19,463 posts, read 14,214,769 times
Reputation: 14843
Quote:
Originally Posted by aslowdodge View Post
It seems like no matter what is said, you wind up defending the "woe is me millennial" in this thread. You seemed triggered by some of the posters' opinions here.
I don’t think I have defended anyone to this point but rather pointing out things in the article and the blog of which were linked in the OP

Quote:
I've followed this guy for quite a while and most of his thoughts about getting ahead are not in the mainstream, but I agree with a lot of what he has posted on his youtube channel and have actually done my financial life on what he has said, Not that I got it from him, but was already doing it.
That’s great you found some value. I never stated there was zero value from his channel

Quote:
You accused me of making assumptions based on what the article said and brought up things you found on her blog which was not in the original article.
The blog was linked in the op so it wasn’t like I went researching to find it and you did make assumptions did you not? Edit I went back and looked and you did make a number of assumptions so I didn’t accuse you but rather pointed out exactly what you did

Quote:
Why don't YOU take your own advice and watch more about that guy instead of making assumptions yourself?
I’ve watched plenty of his videos and imo he believes he knows more about personal finance than he does. If you find value in his yt videos more power to you
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Old Yesterday, 12:06 AM
 
4,042 posts, read 7,697,038 times
Reputation: 4633
Quote:
Originally Posted by TexasLawyer2000 View Post
One thing to remember is that $100k today is roughly equivalent to $50k in 1990. I remember six figure salaries in the 90s being a big deal. Today? Not so much.

And that was a lot of money.
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Old Yesterday, 12:57 AM
 
26,890 posts, read 29,305,381 times
Reputation: 26114
Quote:
Originally Posted by WoodburyWoody View Post
So you cannot. Got it.

Maybe someone else here can.
Just to show I'm being non-partisan, Trump put through income and corporate tax cuts. Yet many of those income tax cuts were either a complete mirage or understated for homeowners in high cost real estate markets because of the limited tax deduction on mortgage interest and the elimination of deductions on state income tax and local property taxes. The elimination of this deduction probably hit a lot of earners in the 150k income range pretty significantly.

That's what I mean by politicians not being honest.

Maybe you trust what they say.

But you're right. I absolutely cannot point to specific examples--because once again, they lie in both direct and indirect ways. The above is one of so many examples.

Last edited by mysticaltyger; Yesterday at 01:08 AM..
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Old Yesterday, 01:03 AM
 
26,890 posts, read 29,305,381 times
Reputation: 26114
Quote:
Originally Posted by Lowexpectations View Post
He also has some pretty moronic videos about 401ks and other areas of finance that highlight he believes he is smarter than he really is at least on the topic of personal finance
Perhaps, but he nailed it on that video. In short, you can (probably) have anything you want. But you can't have everything you want. It applies at every income level. For the vast majority of people, there is no magic income level where you can just spend as much as you want and expect that you'll have money left over for savings.
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Old Yesterday, 05:34 AM
 
74,986 posts, read 74,470,357 times
Reputation: 52390
Quote:
Originally Posted by mysticaltyger View Post
Just to show I'm being non-partisan, Trump put through income and corporate tax cuts. Yet many of those income tax cuts were either a complete mirage or understated for homeowners in high cost real estate markets because of the limited tax deduction on mortgage interest and the elimination of deductions on state income tax and local property taxes. The elimination of this deduction probably hit a lot of earners in the 150k income range pretty significantly.

That's what I mean by politicians not being honest.

Maybe you trust what they say.

But you're right. I absolutely cannot point to specific examples--because once again, they lie in both direct and indirect ways. The above is one of so many examples.
keep in mind one of the trump tax cut mirages is some of that tax cut translated to a higher share price since the corporation retained more dollars . well that means now with the tax cut that bigger gain from the corporation paying less tax shifted more to us . the higher gain attributed to the tax cut portion means we get to pay that tax instead of the corporation ....
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Old Yesterday, 10:35 AM
 
Location: Midwest
4,501 posts, read 7,345,658 times
Reputation: 8000
Quote:
Originally Posted by RationalExpectations View Post
https://nypost.com/2019/10/23/millen...feel-strapped/

Jenny Castillo chronicles her life as a HENRY: High Earning, Not Rich Yet millenial here on her blog Jenny the Henry: https://jennythehenry.com/index.php/...es-henry-lows/

Yes, so-called Adulting can be expensive, Jenny, if you make stupid choices. Welcome to being a grown-up.
She's a deep one, alright. A regular Aristotle.
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Old Yesterday, 11:35 AM
 
689 posts, read 532,855 times
Reputation: 1421
Quote:
Originally Posted by Aredhel View Post
Instagram and Facebook have turned the dial up to 11, but the trend really started with the rise of broadcast TV in the 1950s. Prior to the rise of broadcast media, people trying to "keep up with the Jones" were generally comparing themselves to the family down the street, who lived in a slightly nicer house and rented a cabin at the state park instead of tent camping on their annual vacation. Now everyone can compare themselves to the Kardashians (and the many, many people trying to pretend on social media that they are the Kardashians). People's idea of what a family earning the same income as their own ought to be able to spend on luxuries has become grossly exaggerated; no wonder they feel they they're not doing well even though they have plenty to eat, a roof over their heads, and some money in the bank for emergencies.
Aredhel I could not agree more with this excellent post. I am a young Gen-Xer and can't go back as far as the 1950's, but I think the advent of the Internet in the late 90's followed by social media in the early 2000's vastly expanded the ways that people could compare themselves to others. There are other factors of course (and airfare is far cheaper now relative to inflation), but in the 1990's middle class men did not think they were entitled to a bachelor party in Vegas, and now that is standard protocol. Ditto for any number of expensive experiences from international travel to cars to fancy booze, etc. When I was a teenager in the working class neighborhood I grew up in, the idea of an international vacation was totally foreign to me (pun intended), as I simply didn't know anyone doing that. Now as a teenager I imagine it takes 30 seconds on Instagram to be bombarded with images of Santorini and Thailand, etc. Different world.
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Old Yesterday, 12:14 PM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
6,017 posts, read 4,412,744 times
Reputation: 8338
I guess I’m confused where Jenny says she wants to experience financial freedom so that her lavish spending isn’t a second thought. Unless I am missing something, it doesn’t seem like she is putting enough away to get that freedom anytime soon. She appears to spend as much as she can on the lavish lifestyle. Many of us would be trying to amass investments that pay us a cash flow later.
Without her posting her numbers we’ll never know. But I do wonder if she has financial freedom goals set.
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Old Yesterday, 01:06 PM
 
Location: Grand Rapids, Michigan
2,164 posts, read 3,666,997 times
Reputation: 2212
I would give you my left leg to make $100k a year. Would I be able to live like a king, probably not, but I'd be able to make a lot of positive changes in my life a lot sooner.
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