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Part of the problem is that the media has inflated people's expectations of just how much an "average" family should be able to buy. It makes people feel poor even when they are not.
Media? No not really. More like Instagram and Facebook. There is a company than even rents out private jets for photo shoots on the ground so people can pretend and post about "flying" in one.
All I’m saying is the biggest expenditures are things we don’t even see any value for generally. My biggest expenses would be federal income tax, state income tax, property tax, the mortgage (mostly interest), and the health and car insurances. That’s tens and tens of thousands of dollars that you never even actually see. Throw on a student loan to get good paying jobs, the expenditures you need to make to keep a good paying job, commuting costs, ect and it’s pretty easy not to feel “rich” with the “6 figure” income.
Not including social security and Medicare taxes. It's amazing what we think is normal taxation these days. It will only get worse.
Media? No not really. More like Instagram and Facebook. There is a company than even rents out private jets for photo shoots on the ground so people can pretend and post about "flying" in one.
30. I started making 40 to 50k at 23. My wife made like 30k. I make more than double that now, with base, excluding bonuses. She has had big raises too. We’ve been accumulating 401k this whole time, paying off loans, and building house equity. We have “real” accumulation, but it’s all gone without continuing to work, so it’s paycheck to paycheck as far as I see it. Making 100k isn’t that much money in major metros. After all the various tax types, insurances, 401k savings, it’s not like you have a ton of “fun” money.
Early on, we also needed to basically acquire everything a house hold needs From couches to rakes to mowers to appliances.
Having a long term plan is part of what makes it this way, if we shy’d away from
Wealth building, we could blow money and live it up with vacations.
You will start to see real progress over the next few years provided you keep saving. I'm not sure what your realistic plan is for net worth though or what you think others in your demographic have. It may be unrealistic. Very few millionaires in their 20's and early 30's.
If you really want to make a huge dent in the accumulation, look at your spending and where it all goes and focus on the big ones (housing and transportation normally are the two). Too many people buy newer cars with expensive insurance, it adds up over time. Learn to fix stuff yourself, DIY, buy used (my mower was $50).
It's a snowball, it starts slow and really starts to build up steam.
Yeah, no they aren't lol. They maybe have legit media sources post on there but they are not the content generators that CNN, FOX, PBS, etc is.
If you see them as media that is part of the problem haha.
They don't have to generate content to be media. They only have to host it and/or share it. Not sure where you're getting your definition, but it's wrong. You may want to look at something called "social media" which is a category of media. It's actually a media industry term.
...and it’s pretty easy not to feel “rich” with the “6 figure” income.
And that is because you are NOT rich. You're merely a well-paid working stiff. Only ignorant people (and I do NOT include you in that number, just to be clear!) equate annual income and wealth. Truly wealthy people do not need to work, as they can live entirely off of the gains from their investments.
As you said, keep up what you are doing now, and one day you may well become wealthy. But it's frustrating when you are focusing on living within your means while you are surrounded by a culture that keeps telling you that you REALLY ought to be spending more now instead of planning for the future because "everyone else is doing it!"
Quote:
Originally Posted by wheelsup
Media? No not really. More like Instagram and Facebook. There is a company than even rents out private jets for photo shoots on the ground so people can pretend and post about "flying" in one.
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.
They don't have to generate content to be media. They only have to host it and/or share it. Not sure where you're getting your definition, but it's wrong. You may want to look at something called "social media" which is a category of media. It's actually a media industry term.
Social media is junk. If that is your benchmark for media you need to up it. Seriously. I mean technically People and OK! magazines are media too, is that where you look to for accurate information? No? Ok then...
Social media is junk. If that is your benchmark for media you need to up it. Seriously. I mean technically People and OK! magazines are media too, is that where you look to for accurate information? No? Ok then...
Junk? Benchmark? Accurate information? You can't just define an industry as you wish. No one said anything about benchmarking anything or accurate information. You might want to read the actual thread that you are participating in. We're talking about media. It has nothing to do with "accurate information". Social media is just one type of media. If you want to use it as a benchmark of accuracy, that's on you. But it has nothing to do with how social media are playing a large part in the media industry.
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