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Alot of times when I talk to someone I used to know it always seems they're rolling in money,while I continue to struggle. Was I just born with bad financial genetics? Made too many bad choices? It's not like I ever squandered it,I've always worked...just nothing to show for it now.
What's the norm?
Here's how it works with people "rolling in money" in America.
Most of them have rather large credit card debt and bunch of loans. As how do you judge? By external appearances. Car. boat. house. Fancy shoes.
Credit, credit, payments, credit.
Key phrase there friend. Most Americans aren't rolling in the dough. They are rolling in debt.
You take care of you, don't worry about them. If you really hunk they are successful then pick their brains see what has worked for them.
Here's how it works with people "rolling in money" in America.
Most of them have rather large credit card debt and bunch of loans. As how do you judge? By external appearances. Car. boat. house. Fancy shoes.
Credit, credit, payments, credit.
I'm not that short sighted,I can tell fake possessions vs real wealth.
I think the norm depends on your educational level, field of work, and geographical location.
Between me and the friends I graduated high school with, I'm not sure who the top earner is. My husband and I are in our mid-30s and we take home about $130K. I think that is the highest family income of my friends, but I there could be a few that make more than me and just don't brag, so I am not aware. I do know that some of them still struggle, a lot. Some of them have very low paying jobs, like servers at restaurants, and I see their facebook posts about how they can't afford to get one new tire on their 20 year old cars. The swing of income varies extremely wildly.
I think spending habits are a part of it, but income is another part. My husband and I make enough that we can spend stupid amounts of money on stupid things, and not bat too many eyelashes, but we haven't always been able to. Have you gotten yourself into a lot of debt, and then paid insane amounts of interest by only paying minimum payments? That will make it really hard to ever dig out. If you have credit card debt, you are paying obscene amounts of money to use your money.
This is NOT a pitch for the military, but my husband and I are both enlisted. Free medical, free college, a free retirement pension that will start paying us at 38 years old and pay us for the rest of our lives to the tune of about $2 to $2.5 million dollars, free dental care, reduced daycare costs for our kiddos, etc. We joined in high school, and just worked our way up. I tried to get my friends to join as well, but they wouldn't. I often look at the way they are struggling with life/finances/college debt (some are still in college in their thirties), and I'm so glad I made the decision I made. If I would have had to make it in "the real world" I have no doubt I'd be way behind where I am right now, financially speaking. I know I wouldn't have millions of dollars set aside for retirement or be making as much as we're making now. Life choices have a huge impact. I wish my friends would have listened.
As a side note, I am amazed at how many parents fail to teach simple finances.
I'm not that short sighted,I can tell fake possessions vs real wealth.
How? Unless you can look at a person's tax returns and financial statements, you really can't tell how well they are doing financially. Appearances can be very deceptive.
I think the norm depends on your educational level, field of work, and geographical location.
One example is my friend back in NJ does have engineering degrees,though what kind I'm not sure...but even though he never got a job with a company he I guess lucked out by making some machines that he can earn from. But he also seems to have enough enterprising ingenuity to keep successful side businesses,some of which if I tried I'm not sure I'd be as successful at. Part of it is also the talents we were born with,I've been realizing over the years that the things I picked for jobs earlier on were not exactly the most profitable...though perhaps they could have lead to similar things.
Another example is one friend I worked in broadcasting with,while not the most stable field I see that with a little luck he was able to hang in there and maintain a successful career in it while most of the rest of us had to move onto other things.
As far as geography,I'm about 100 miles from Seattle one of the most prosperous areas of the state. But it's a catch-22...if I could afford to live closer to there than just maybe I could've gotten a job with one of the big industries there. Not 100% though,there is probably much competition for jobs at those companies. I lived in the Philadelphia area also,with not much luck with the companies there either...
How? Unless you can look at a person's tax returns and financial statements, you really can't tell how well they are doing financially. Appearances can be very deceptive.
I'm good at reading people...I've seen people who seemed stressed out keeping up their possessions as well as those who happen to own businesses,houses who don't flaunt it which shows real financial confidence.
Were going in circles here.
We need more info on you. How much do you make per year?
How much is your mortgage/rent
Car payments?
How much do you put to your retirement? (Should be 10-15%)
What makes you think your friends are doing better? Maybe they have inheritances. Maybe mommy and daddy gave them a huge amount of $$ for a down payment. These are things we don't know. You know what field you are in and what field they are in. You should have a decent idea based on their field and location what they make per year.
Maybe they are rocking a 2000/week take home check. Maybe not. What say you?
Surely you have an idea what their field generates?
Last edited by grouse789; 10-07-2016 at 05:36 PM..
Reason: Spelling
Besides, why do you care?
Comparison is the thief of joy.
If you want more, hustle.
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