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It's not Manhattan. I know what you're saying. My point was the average NYer regardless of what borough you're in isn't dropping $50 on pizza. I realize the poster was visiting and was obviously eating at a nice sit down restaurant.
BTW, mathjak is in Bayside and always says he lives in NYC. At least Flushing has a subway stop.
^^^ Bayside and Flushing are both in Queens in NYC. The other poster said Flushing is not NYC. Merely pointing out to jlaw that those of us from Queens or one of the other 4 boroughs still consider ourselves as being from the City.
I'm 64 and like to live simply. I do own a home and don't have a mortgage. I prefer this to renting for many reasons having to do with security and stability, plus I can decorate how I want. No boat. We own one vehicle...a 1997 truck that runs great. We don't put many miles on it, so expect it will last for many years to come. We bought it used in 1999 for less than $10K. I'm happy with what we have. Nothing fancy, but it's all paid for, so we can relax and enjoy retirement.
It sort of does. Post WW II, the United States experienced unprecedented growth. You had better odds entering the labor market in 1950 than in 1990. If you entered the labor market in 1950, you had the chance of spending your entire career with the same employer and having a nice defined-benefit pension. In 1990, you were lucky if your employer matched your 401(k). Mine certainly never did. Few people remained with the same employer for even a decade. It's been more challenging to accumulate wealth over the last couple of decades. A balanced mutual fund portfolio in a 401(k) hasn't done anything like in earlier years. In addition, there wasn't the income stratification there is now. If you're not in the top-20% today, your inflation-adjusted pay is eroding.
It doesn't. I am a baby boomer and I couldn't give a crap about a boat or an RV or 2 cars. I wasn't even born in 1950. My employer matched my 401 as early as 1995. I've stayed at one company 17 years, another 15.
I think it has more to do with the individual than the generation or birth year. Personal drive and ability is often the determining factor, with a little bit of luck sprinkled on top.
I know many people who retired after 25+ years in the work force making only a little more than they started at. Others at the same company took advantage of internal promotions and training to elevate their status and retired making 7 times what they started at. We are talking about people of the same age and generation at the same company at the same time.
People who can live the proverbial "good life" sometimes get there by birth (inheritance), sometimes by using their innate talents, and some by having been lucky (or just not being unlucky), or in the right place at the right time. Sometimes people with the same income end up in two completely different circumstances entirely by the choices that they make in life, i.e. being a spender vs. a saver, making poor marital choices, living in a high COL area or moving to somewhere cheaper, staying in a dying profession and living in an area in a downward spiral or having the courage to make a leap to a new place or a new career.
^^^ Bayside and Flushing are both in Queens in NYC. The other poster said Flushing is not NYC. Merely pointing out to jlaw that those of us from Queens or one of the other 4 boroughs still consider ourselves as being from the City.
Precisely. Donald Trump was born in NYC, not Manhattan, but Jamaica Estates in QUEENS. Far too many people around the country think that NYC is just Manhattan. My husband always says he is from NYC, not Maspeth, Queens. Seems like a lot people just don't know that NYC has 4 other boroughs besides Manhattan.
I'm a baby boomer and would be content with my own small house, a well running car, food in the fridge and clothes on my back. Fortunately I have the last three and I rent a very nice condo. There are people out there who aren't as fortunate.
much of USA has never heard of a Borough, or township.
we have cities (if a place has more than 4 stoplights)
and towns (<4 stoplights, hopefully 0)
definitions vary
Back to our 2 cars, 4 trucks, 5 tractors... (that MIGHT be a problem in a borough, tho I have seen some nice ag fields somewhere within the 5 boroughs. )
I am a Generation X in a relationship with a Baby Boomer and my idea of The American Dream is so radically different than his. I don't believe you need a boat/RV or even to live in a house to be happy. You like your job, are content with your trailer/condo/apartment, have enough money for bills and savings as well as a little entertainment on the side, and have a family who loves you...THAT is my idea of The American Dream. But that isn't enough for my significant other. He just cannot bring himself to count his blessings and be happy. He says it has nothing to do with me...it is just something he is upset with himself about, that he didn't achieve HIS idea of success. He is even convinced that if we do not live in a house (with a mortgage, not a rental house) by the time our son is in school that other kids will make fun of him.
First off applaud him for having a dream. You have filled him in on your dreams I take it. You are ok with less than he is ok with. I would say that it is up to him to make up the difference.
You both may want to consider the following.
1. Emergency planning. Have you saved for an emergency including a job loss?
2. Retirement. Are you both funding your retirement?
I tell my kids that the first thing they need to do when they start working is to save a months supply of cash for an immediate emergency. I then tell them to fund a 6 month supply of cash for the long term. Realize that when you need it even unemployment may not be there when you need it. Ideally you would want to save for a years supply of living expenses. Realize that once you have that saved you do not need to manage it other than to make adjustments based on your lifestyle or change in income. I would even say to place the bulk of the money in investments that you can tap into if a problem arises. Your first month supply of money should be available in your bank account. The remainder is invested, but in somewhat liquid investments that you can pull it out if you need to. You can even use a Roth IRA for some of this.
After you have done that then life is up to you. Since it is your boy friends goal to have the house with a mortgage then let him fund that. If he can reach that goal that would have surpassed your goal. It will in no way hurt you at all.
Remind him that he is not dead yet. He can still go after his goals.
Precisely. Donald Trump was born in NYC, not Manhattan, but Jamaica Estates in QUEENS. Far too many people around the country think that NYC is just Manhattan. My husband always says he is from NYC, not Maspeth, Queens. Seems like a lot people just don't know that NYC has 4 other boroughs besides Manhattan.
I knew that but it was a shock to find out that Brooklyn is nearly as expensive as Manhattan now.
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