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After about 10 years of toiling and trying to save, wife and I targeted getting our income higher continuously and it's worked marvelously. At some point, your pent up demand is satiated and you start seriously saving. We have gone from minimal wealth in 15 years to now making more on our investments than most people earn....hasn't been easy but it's now rewarding.
how ? if you have to ask that then that is the problem . they find a way-you find an excuse .
it is called creativity .
I know that you are tired of hearing this. The only example I have from within my direct experience is that we have had many renters who have had higher salary than I had. With a higher salary they could only afford to rent, from me. Whereas I with a lower salary could afford to buy the apartment complex and be their landlord.
I have been in hundreds of face-to-face conversations with tenants whose paychecks were more than mine, about this exact topic.
In my world, they earn more so they would be even better enabled to buy a four-plex. In their world, they are wage-slaves doomed to be renters. I clearly had some hidden secret or silver spoon inheritance that allowed me to buy property.
I know that you are tired of hearing this. The only example I have from within my direct experience is that we have had many renters who have had higher salary than I had. With a higher salary they could only afford to rent, from me. Whereas I with a lower salary could afford to buy the apartment complex and be their landlord.
I have been in hundreds of face-to-face conversations with tenants whose paychecks were more than mine, about this exact topic.
In my world, they earn more so they would be even better enabled to buy a four-plex. In their world, they are wage-slaves doomed to be renters. I clearly had some hidden secret or silver spoon inheritance that allowed me to buy property.
which is why working in a high cost of living city like ny where wages are 3x the national average can be a good thing .
relocate to cheapsville with that much juicier ss check from the higher wages and you are much further ahead than the locals would be working there all their lives.
throw in selling that nice expensive home and you can go from middle class to wealthy in cheapsville .
You've read all the articles about how to pinch pennies and how to make your money work for you and how you, too, can save a million dollars in 20 years just like this couple did (picture deleted because I burned it in a hex ceremony)!
So here you are. You've just paid the rent or the mortgage, the utilities, the car insurance, bought some gas (not enough to get you to work for the whole month) and some food (not enough to see you through the month), and you have $4 left in cash. And you need clothes, a haircut, shoes for the kids, etc, etc.
So come on now - let's get some suggestions on how to grow that money! Let's hear it for saving $2 a year and how much that will get you in 50 years! Do you turn off the heat at night even in winter to save on utility bills? Do you farm out your kids? Do you wear shoes with holes in them because the soles are still good? Do you wear pants until there's holes in the rear or shirts until they're deemed indecent by definition of city law? Did you go poo free because you can't afford shampoo?
Did you sign a DNR order with your spouse so he/she can't take extraordinary measures to save your life (like calling for an ambulance or taking you to the hospital)? Is one meal a day the norm for you? Do you consider popcorn and water to be a nutritious meal? Do you turn underwear inside out and reuse it (do NOT tell us about the dental floss in any way, shape, or form)? If you find a dollar, do you turn it in to the police because you're afraid someone has lost a valuable asset?
If you do any of the above (and more), you're qualified to tell us how to make our money work when we don't have any.GO FOR IT!
Disagree with your premise. You make money with leverage and earnings, not by piddly individual cost savings (e.g. wearing clothes with holes - eww). So anyone who advocates this approach would not be "qualified to tell me how to make my money work."
no i said salary averages . some jobs are lower and some higher . that is what an average is . the average of a basket of salary's is 3x the national average for the same basket ..
NY average salary is $82,110, median salary is $66,560 with a salary range from $18,464 to $2,061,817.. in order to compare though you have to remember nyc does not have a lot of jobs other parts of the country do as well as salary's vary by job .
compared to where we had the house in pa my pay was 2x more not 3x .
Last edited by mathjak107; 10-09-2016 at 02:07 PM..
You keep asking, I keep explaining. round n' round we go.
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