The Stock Market Is Not The Economy Thread II

[Mayareira]

citation needed

the world is poor as shit but this seems obscenely low

https://www.washingtonpost.com/graph...me-calculator/

59k/person, and/or being a millionaire means you are in 1%. 59k is a dream salary for anywhere outside of selected countries in EU (still almost 5x of per capita income of Romania, etc.), gulf nations, Canada, Singapore, Japan, Australia and probably some few others.

Compare it with, say, Philippines (108M population, $3,300 per capita income) and you’ll see why that salary would put you in 1%. This, of course measures the wealth and nominal value of the money, not the standards of living. Gini index and Purchasing Power Parity are better indicators for measuring the standards of living.

[Mayareira]

And regarding overall wealth, wealth management is just as important as how much you make. Its very possible to make 2-3 times more than your peers and still live paycheck to paycheck, I’ve seen this a lot.

I’d recommend reading The Richest Man in Babylon and The Millionaire Next Door for some general personal finance advice for everyone. Timeless advices even if you believe you are managing your finances well.

[Ayn]

And regarding overall wealth, wealth management is just as important as how much you make. Its very possible to make 2-3 times more than your peers and still live paycheck to paycheck, I’ve seen this a lot.

I’d recommend reading The Richest Man in Babylon and The Millionaire Next Door for some general personal finance advice for everyone. Timeless advices even if you believe you are managing your finances well.

I've worked with quite a few folks like this.

[Koyangi]

That's me in a nutshell. I live EXTREMELY cheap, but make more than enough, i've paid off of mine and my wife's debt (incl. student loans) and can have plenty of room to get other nice things.

[Ayn]

That's me in a nutshell. I live EXTREMELY cheap, but make more than enough, i've paid off of mine and my wife's debt (incl. student loans) and can have plenty of room to get other nice things.

I hear you. I paid off student loans earlier except a smaller one for credit history. The things I splurge on 'most' are travel to see family/friends (most of the close ones live out of state, or until recently, overseas); but job is flexible enough that I could always book tickets at cheaper times. Lodgings were usually taken care of cause I was staying with them, or because I was traveling off peak times (fun fact: Vegas is cheap as hell at key points in December/September). Vidya's cheap these days and there's enough streaming services for entertainment.

I also drive a cheap car that's paid off, but it doesn't have a ton of miles on it cause again, most of my longer trips just end up being flights, even within state.

When I had to suddenly move and CoL went up, someone I knew basically said "I know it's frustrating, but to be fair, what you're paying now is the standard for this area"

Basically said "It's one thing when you actively decide to live in a more expensive place; it's another when it's forced upon you. I didn't get to where I am now financially by doing the first all these years."

I just kind of marvel at it: I don't think I'm exceptionally smart with money (I'm risk adverse, which was a slow process of overcoming), but it's pretty amazing to watch people I know out here rationalize all types of things.

Or my favorites:

"Why don't you buy <x>?"
"..Because I wouldn't use it enough to justify that price tag?"

"Why don't you upgrade your car!"
"..Because this one runs fine and has never broken down?"

[Daydreamer]

I hear you. I paid off student loans earlier except a smaller one for credit history. The things I splurge on 'most' are travel to see family/friends (most of the close ones live out of state, or until recently, overseas); but job is flexible enough that I could always book tickets at cheaper times. Lodgings were usually taken care of cause I was staying with them, or because I was traveling off peak times (fun fact: Vegas is cheap as hell at key points in December/September). Vidya's cheap these days and there's enough streaming services for entertainment.

I also drive a cheap car that's paid off, but it doesn't have a ton of miles on it cause again, most of my longer trips just end up being flights, even within state.

When I had to suddenly move and CoL went up, someone I knew basically said "I know it's frustrating, but to be fair, what you're paying now is the standard for this area"

Basically said "It's one thing when you actively decide to live in a more expensive place; it's another when it's forced upon you. I didn't get to where I am now financially by doing the first all these years."

I just kind of marvel at it: I don't think I'm exceptionally smart with money (I'm risk adverse, which was a slow process of overcoming), but it's pretty amazing to watch people I know out here rationalize all types of things.

Or my favorites:

"Why don't you buy <x>?"
"..Because I wouldn't use it enough to justify that price tag?"

"Why don't you upgrade your car!"
"..Because this one runs fine and has never broken down?"

I really don't get the car one. Like I get it if cars are your thing, but if it's not then just...why. I travel for work, a lot, and I drive a ford fiesta. I gets me from A to B with good gas mileage while being fully paid off. I plan to drive it into the ground. I'm more than happy to collect $100 round trip on most work trips while driving this car.

[Zealot]

I have enough in student loans to buy a reasonably sized house in most places and my credit score is still 800. Really makes me wonder what it would be but for that crushing debt.

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[Yabby]

When i paid off my student loans, my credit score dropped by 20 points because my credit history when down like 7 years.

[Mayareira]

Some solid financial decisions there. When you manage expenditures and focus on growing wealth, further growth opportunities almost always follow, and when they arrive you have enough to get the best out of them. If a car loan eats up all your investment/saving opportunities then it is probably too expensive for you for now, at the moment. Just need to be patient.

Eventually you build a sound financial structure to buy/do whatever you are passionate about.

[Ayn]

Some solid financial decisions there. When you manage expenditures and focus on growing wealth, further growth opportunities almost always follow, and when they arrive you have enough to get the best out of them. If a car loan eats up all your investment/saving opportunities then it is probably too expensive for you for now, at the moment. Just need to be patient.

Eventually you build a sound financial structure to buy/do whatever you are passionate about.

That's the goal: I'm not exactly young but I'm not *old*. I'm starting to see pieces of that emerge now, though it's sometimes annoying because folks I work around at times simply see us as being at the same stage without acknowledging significant advantages they had (downpayment assistance; student loans). I don't hate on them for it unless they're act like our circumstances were exactly the same. It is why I can appreciate the people who post here since for the most part they either get it, or if they're off they acknowledge it more often than not.

Well and Zealot for listening to me grouse about it these years. But pretty sure he only does that to get the occasional pass on a race joke.

[Zealot]

Have I mentioned how great my credit score is?

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[Tyche]

[Yabby]

Are we measuring dicks in here?

[Jaybar]

824, dick never been so long.

[Yabby]

[Zealot]

Dang y'all I was just trying to flex on black people you didn't have to make it like that.

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[Meresgi]

My credit score is over 900 but it lives in Canada with my gf so I can't post a pic just yet.

[Andalusian girls]

my credit score is so bad i get e-mails every time an NBA player drops a new shoe line

[Tyche]

I wanna see some 840s

[kuronosan]

I wanna see some 840s

Mine is just barely above my medical loan debt lulz