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If we never hear about Carrie Bradshaw again our lives would be so much better.....
With that horse face shouldn't all her shoes be U-shaped?
OK, that was mean, but she put her face on the big screen for all to see, and no one can say there isn't something disctinctly equine about it. On the other hand, it's good to see someone make it on something besides looking like a Barbie.
I never watched Sex and the City, but I did finally see Sarah Jessica Parker on that geneaology show, "Who Do You Think You Are"? and I was pleasantly surprised at how down to earth and nice she seemed in contrast to the impression you get from TV and magazine covers.
I don't think anyone asked him the most crucial question... just how cheap is real estate where you live? Around here you're lucky to find anything under $700K in the city, and maybe $400-500K in the surrounding areas. Even people who make 6-figure salaries don't pay cash for houses, regardless of the amount they have in savings.
I didn't buy a house until I had enough to pay for it in full without touching any of my retirement savings. I still didn't pay it in full because I got ridiculous low rate and my money sitting elsewhere makes more than the interest I pay.
Buying a house is a very bad investment - it's not even an investment. In most cases, the interest, property tax, maintenance & upkeep, and utilities are way over what one would pay in rent, not counting interest one can collect if the money is in the bank. If you are in an area where house price jumps every sec, then it's a different story called "speculation."
I lived in a small apartment of 600 sqft for 8 years, then upgraded to a 900 sqft one for another 3. Average house price here is about 180K in the suburb and in the city it's about 300k.
I don't have much in savings but I've been making contributions to a 401k for several years.
Just moved and have really taken stock of my life and where I want to be and am really focusing on paying off all debt (don't have much luckily) and learning about smart investing.
One of my goals for 2011 is to save up the equivalent of 6 months expenses and begin contributing to a secondary retirement account or investment of some kind to supplement my 401k in the event Obama and Co. remove the tax break for 401k or just out and out confiscate them.
I think TheStupid's point is that Americans in general have a ridiculously low savings rate due to a spending culture.
I come from an Asian background, and you wouldnt believe how much people save. Im talking about even people below the poverty line have hundreds of thousands in savings by the time they are 45.
I read some where that people in China on average have about a 25% savings rate. ie. if they make 40k, 10k goes into the bank. I asked my mom and she said that was too low of a rate....
Im not claiming that no one has circumstances/bad luck that made em broke, but if theres a will to save, there is definitely a way.
You got my point right. The way we spend money here in America is ridiculous.
Read "The Millionaire Next Door" and you can see money comes from savings. High income doesn't help if you don't control your spending.
I don't dispute there's bad luck like you lost your job because the company went under. We just need to prepare for it and make sacrifices. Like I said before, when I was young and making less money, every 2-3 months of work, I could save enough to cover 1 month of living. Right now, I can save enough to cover 3-4 months. So what if I lose my job for a few month? A year or 2? Doesn't affect my bottom line that much.
I read some where that people in China on average have about a 25% savings rate. ie. if they make 40k, 10k goes into the bank. I asked my mom and she said that was too low of a rate....
Supposedly, in 2006 the average Chinese worker's income was $2,025...
The results of an interesting survey recently conducted by CareerBuilder.com indicate nearly half of American workers are living paycheck to paycheck. Combine this with the news in recent years that we actually had a negative savings rate for the first time since the Great Depression era, and it is easy to see why so many Americans are struggling with their financial lives.
The Numbers
The survey revealed some interesting statistics:
47% of workers live paycheck to paycheck to make ends meet
21% of those earning over $100,000 also live paycheck to paycheck
25% of all workers reported they save nothing each month
33% do not participate in any retirement programs (employer-sponsored or otherwise)
One in four workers save $0 each month, either because they don’t have any additional money, or because they choose to spend it.
I didn't buy a house until I had enough to pay for it in full without touching any of my retirement savings. I still didn't pay it in full because I got ridiculous low rate and my money sitting elsewhere makes more than the interest I pay.
Buying a house is a very bad investment - it's not even an investment. In most cases, the interest, property tax, maintenance & upkeep, and utilities are way over what one would pay in rent, not counting interest one can collect if the money is in the bank. If you are in an area where house price jumps every sec, then it's a different story called "speculation."
I lived in a small apartment of 600 sqft for 8 years, then upgraded to a 900 sqft one for another 3. Average house price here is about 180K in the suburb and in the city it's about 300k.
I respect your right to your opinion, but I completely disagree with you. It's been the best investment that I have made. I lost a bundle on my money investments, and who knows if they will ever fully recover. My house however, has more than doubled in value, even with the market blow-up. I bought in a good market, and a great neighborhood.
Supposedly, in 2006 the average Chinese worker's income was $2,025...
It's not much more than that now. I just read an article where many are just now moving into a range where they can afford discretionary spending...salaries of 5K - 6K.
It's not much more than that now. I just read an article where many are just now moving into a range where they can afford discretionary spending...salaries of 5K - 6K.
That's what I figured, also. People tend to quote to their purposes...not saying the OP did this, but I see it happen all the time, here and in real life. I can see Beijing and similar cities being at that level, but that ignores a large part of the country...
I didn't buy a house until I had enough to pay for it in full without touching any of my retirement savings. I still didn't pay it in full because I got ridiculous low rate and my money sitting elsewhere makes more than the interest I pay.
Buying a house is a very bad investment - it's not even an investment. In most cases, the interest, property tax, maintenance & upkeep, and utilities are way over what one would pay in rent, not counting interestone can collect if the money is in the bank. If you are in an area where house price jumps every sec, then it's a different story called "speculation."
I lived in a small apartment of 600 sqft for 8 years, then upgraded to a 900 sqft one for another 3. Average house price here is about 180K in the suburb and in the city it's about 300k.
What bank is your money in that is giving you good interest
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Around here you're lucky to find anything under $700K in the city, and maybe $400-500K in the surrounding areas. Even people who make 6-figure salaries don't pay cash for houses, regardless of the amount they have in savings.
