Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Is that true? Does the median approximate the mean? I'm not saying it doesn't, I just have never seen life expectancy expressed as a "median" before so I would be interested to know the answer. The mean is often expressed with different variables thrown into the mix, like, if you live to age 60, your chances of making it to 82 are higher than someone who is under age 60. I'm paraphrasing there because it is sunday morning and I am too lazy right now to look up the exact stats.
You make a great argument for a very large life insurance policy, which is something I definitely recommend. My life insurance policy will quadruple what my family gets out of my 401k. I split it between whole life and 30 year term. But you have to start when you are healthy. Once you are diagnosed with anything, the price goes up, and if it is something pretty bad, like a coronary artery blockage, you can pretty much forget about term, but if you already have it, they can't take it away.
I live in the SF Bay Area and make just shy of 50K. There's nothing all that impressive about what I've done. (You know, it's called having roommates for 8.5 years instead of your own apartment. Then getting a studio instead of a 1BR. Driving a modest economy car until it's not worth fixing, etc. These are the things that Average Income Joes who actually have some money ahead of them do)
The problem you have is you're caught up in the consumer mindset. You most likely make assumptions about what will make you happy that are not true. And you probably don't even realize you are making these assumptions. They are so embedded in your way of thinking you don't even see them. That is how consumerism works. And believe me, I'm not throwing that out as an attack on you. After visiting several different countries in Latin America (Renting a room frees up $$ for travel) I saw first hand how insanely crazy American consumerism really was. I always suspected it was insane and my trips confirmed my suspicions. My trips made me realize that even I was caught up more in consumerism than I wanted to admit.
No, I don't play golf. I used to be a caddy in high school. I liked the money, but not the game. I didn't appreciate how good the money was until I moved out and was on my own. Such is the human condition.
Golf is a perfect example of an expensive lifestyle choice that people soon make into a necessity. Then all of a sudden, it's "oh my gosh, there's no way I could live on or be happy on 50k!".
I had roommates from the age of 18 to 31. Once we were able to afford our own house we got out of that arrangement as fast as possible. If you consider that being extravagant then we'll just disagree here but I feel as if I've paid my dues there.
I actually live a very simple life. I drive a '99 Protege, we rarely go out to dinner and never take expensive trips anymore. But certain things, like a DVR and HD with our cable TV, getting carryout instead of cooking Hamburger Helper or playing a round of golf once in a while are things I'm just not willing to give up.
I really don't care that people in third world countries do not have these things. I have access to them and I'm going to take advantage of that. I don't consider that irresponsible, I call it living the life I chose to live. These pleasures are not assumptions on what makes me happy, they are things that DO make me happy. Again you are asking me to make major compromises in order to have financial freedom.
No I stand by my position that you should live responsibly but do not forget that life if for living and you should do things that make you happy, especially when you are young and able to climb that mountain. As I keep saying nothing is guaranteed and if I was in my friend's shoes tomorrow I sure would not be wishing I had taken the life you are suggesting.
Last edited by DaveinMtAiry; 03-31-2014 at 05:59 AM..
Wouldnt the fact that you asked this question in a personal finance forum suggest bias towards savings and fiduciary responsibility?
Of course, just as you would expect the responses to be biased as well given where they are coming from. I try to keep this in mind whenever I see people's 401(K) balances. People with money tend to be on investment message boards.
Of course, just as you would expect the responses to be biased as well given where they are coming from. I try to keep this in mind whenever I see people's 401(K) balances. People with money tend to be on investment message boards.
Exactly, Im sure if the OP posted this survey in the Fashion and Beauty forum he/she would have a drastically different poll result.
My father was very poor as a child. My grandfather (his father) died when he was about 6. Fortunately, he was very bright and he made it through college with scholarships. He has always extremely anxious about money, and frugal to an extreme. Both my mother and father worked full time their entire adult lives, and saved every penny. My mother would have preferred to spend a little more $$ on a larger home and a few more basic comforts, but my father said no. Their retirement accounts did very well, and as my Mom approached retirement, she admitted "your father was right..." and she looked forward to a future of a comfortable retirement. She dreamed of finally traveling overseas, perhaps moving and a more leisurely lifestyle.
Well, my mother finally retired at age 65. My father got hit by a car 5 months later, and is now paralyzed and severely disabled. While struggling to care for my father, my Mom was found soon after to have pancreatic cancer. She passed away soon after.
No traveling. No leisure. No retirement.... in the traditional sense of the word.
You never know what will happen. Life can change in an instant, without warning.....
So I find that I worry all the time about money, AND I worry that I will have regrets for not living life a little, since you never know what the future might bring. You could be hit by a car tomorrow and NEED the money or you could sink quickly into poverty if you become disabled. But you could also die tomorrow, and then ... what was the point?
Balance is key. But how to draw that line....
Last edited by sfcambridge; 04-01-2014 at 08:11 AM..
I live in the SF Bay Area and make just shy of 50K. There's nothing all that impressive about what I've done. (You know, it's called having roommates for 8.5 years instead of your own apartment. Then getting a studio instead of a 1BR. Driving a modest economy car until it's not worth fixing, etc. These are the things that Average Income Joes who actually have some money ahead of them do)
The problem you have is you're caught up in the consumer mindset. You most likely make assumptions about what will make you happy that are not true. And you probably don't even realize you are making these assumptions. They are so embedded in your way of thinking you don't even see them.
Everything is relative. After college, I had a roommate for 1 year. It was horrible. Wanting my own place isn't consumerism, it's me wanting to keep my sanity. I also have a motorcycle. Why? Because I enjoy riding it.
I agree that there is a consumer mindset in this country, but it sounds like you take it a little too far. You COULD live in a 200 SF apartment, only eat ramen, and walk everywhere instead of drive. But most people would be miserable if they did that.
Everything is relative. After college, I had a roommate for 1 year. It was horrible. Wanting my own place isn't consumerism, it's me wanting to keep my sanity.
I got a new roommate my senior year in college. Thirty-six years later, I still have the same roommate.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
